Horse betting overlay strategy is one of the most primitive strategies in the field. In an age where everything is ruled by technology and people have advanced systems like horse betting software, this strategy comes into usage very rarely. This is also known as the under bet. Due to its primitive nature, there have been numerous books and articles written on the topic. An overlay occurs when a horse goes for a comparatively higher price than it was predicted to go. As it has been said, gambling and betting is a matter of chance. There is an equal chance of an expert losing as of a beginner winning. Here is when overlay comes in the game.
The overlay strategy best comes into account when there is a majority of handicappers on the track. Normally, a horse racing betting day begins with the morning line races. The gamblers put in a lot of thought and research on picking the morning line choices because everyone wants to start the day afresh with a win. However, as the day proceeds, due to continuous losses, people get snappy and are eager to cover up the day’s losses. So, in their desperation they try to go for overlay, and some of them become successful.
There are many betters who are on the lookout for inexperienced betters. These people don not know anything about the game. They are lured by some clever people who promise them huge profits by betting. The motive of their false promise is to increase the stakes levels on their bet so that if their bet wins, their profits are maximized. For example, at Park Fairmount in Illinois, many people organize parties to attract inexperienced beginners and increase the stakes and thus gain profits.
The overlay, which basically means, increased price of a horse independent of their last performance mostly occurs due to a concept called soft spot. A soft spot is when the odds in a race do not match the predictions by the experts. This may happen due to an injury or some other similar factor. If the person has decent knowledge of the game, he will be in a most advantageous position in these types of situations.
Another reason for the occurrence of the overlay concept is that sport bookies bet on various different sports at the same time. This might result in emptying of their cash resources and thus affect the odds table. Another factor that might lead to overlay is the prestige of the underdog. There is a significant amount of discussions amongst the betters on the abilities of an underdog. It has been often observed that the least favored horse wins the race. There is a constant fear amongst the betters of that being repeated. Also that betting on an underdog is considered courageous and increases the social standing of the person. So, these factors add on to the occurrence of overlay.
So, horse betting overlay is a very important phenomenon in the sports betting field, as it can single handedly turn the tables of horse betting. It has the potential to turn a winner into a loser and vice-versa.