Top 5 Horse Racing Bet Exchange Strategies for Beginners

If you’re new to horse racing betting exchanges, it can feel like stepping into a completely different world compared to using a traditional bookmaker. Rather than betting against the house, you're betting against other punters, with often better odds, greater flexibility, and more strategic options.

Whether you're using Betdaq, Smarkets, Matchbook, or Betfair Exchange, the strategies below will help you get started on the right hoof.

Let’s break down the top five horse racing betting exchange strategies that every beginner should have in their toolkit.

1. Back-to-Lay Strategy

This is one of the most popular entry-level strategies for horse racing exchange users. The idea is simple: you back a horse at high odds, and if its price drops before the race starts (or during in-play), you lay it at lower odds—locking in a profit.

Example: You back a horse at 12.0 early in the market. Closer to the off, it shortens to 6.0. You then lay the same stake at 6.0. If the horse wins, your back bet profits. If it loses, your lay bet covers you. Either way, you’ve traded out for a profit before the race even runs.

This strategy works best with horses that tend to be well-backed late or attract market support due to conditions, jockey bookings, or stable whispers.

2. Lay the Field In-Running

This is a more advanced, but still accessible, strategy where you lay multiple horses during the race at short odds (say, 2.0 or lower), hoping that more than one horse hits that price in-running.

Horse races, especially those over longer distances, often have several runners hit low odds in-play. By laying the field at short odds, you can profit when multiple horses trade low but only one can win.

Just make sure you use in-play markets and set your lay bets with discipline. This strategy is particularly effective during handicaps, staying races, or any event where the lead frequently changes.

3. Laying Overhyped Favourites

Betting exchanges allow you to lay horses to lose, and this opens up a great opportunity to target overhyped or vulnerable favourites.

For example, a horse might be odds-on due to name recognition or stable form, but its actual performance record on today’s going or course might be suspect. Rather than backing something else, you can lay the favourite and profit if it fails to win.

This strategy rewards punters who do their homework, analysing form, ground conditions, draw bias, and trainer patterns. Exchanges give you the power to act on that knowledge.

4. Scalping Pre-Race Prices

Scalping involves making small profits from tiny market movements before the race starts. You might back a horse at 5.2 and lay it at 5.0, repeating the process across multiple races or selections.

Scalping depends on liquidity and tight markets, so it’s essential to work with an exchange that has a strong user base. Betfair Exchange is particularly popular among scalpers due to its market depth and volume.

Although individual profits are small, they can accumulate nicely with consistent execution and low commission rates, which Smarkets and Matchbook are well-known for.

5. Use Multiple Exchange Accounts for Best Value

This isn’t a ‘betting’ strategy per se, but it’s crucial. Odds, liquidity, and commission structures vary between exchanges. By having accounts with the top providers, like Betdaq, Smarkets, Matchbook, and Betfair Exchange,  you can:

• Shop around for better prices

• Take advantage of promotions or lower commission rates

• Access more liquidity across a wider range of markets

This strategy ensures you’re always getting the best value and can be a key edge for long-term profit.

Final Thoughts

Betting exchanges have completely changed the way punters approach horse racing. They offer greater freedom, better odds, and a chance to profit from both backing and laying.

If you’re just starting out, focus on one or two of the strategies above; back-to-lay and laying favourites are great places to begin. Make sure you’re using the right tools, reading the market, and getting the best exchange app for your needs.

We’ve created an in-depth guide to help you understand how they work—check out our full Betting Exchanges guide for everything you need to know.

Ready to try your first strategy? Download one of our top-rated horse racing exchange apps and get started today.

Let us know how you get on, and remember, always bet responsibly.