In race arbs

As an example, today I placed a £10 back bet with a bookie just before the off at odds of 2.75. Just after race start I placed a lay bet of £10.20 at odds of 2.3 and waited for those odds to be reached, at which point my lay bet was triggered. Thereafter, I was in the position of having a risk free shot at £4.24 if my horse won and break even if it lost. As it happens, my horse won.

I had other similar bets today where my all of my preset lay bets triggered but my horses didn’t win. In every instance, I incurred no losses.

Thanks for the info Mike J. I had never heard of the term “Dobbing” but it does describe what I’m doing.

Inserting “Dobbing” into my search engine produced this site which provides some very useful info about sources of starting prices and in running prices; e.g. Timeform.
https://caanberry.com/a-dobbing-strategy-guide-for-horse-racing/

I’m not sure that I would feel confident enough to bet on 50% price reductions but happy with 10 – 20%.

If attempting this betting method, I suggest you dial your desired lay bet details into the Exchange and wait for them to be triggered automatically rather than using the trade out button approach. Often the desired lay odds may only be available for a fraction of a second. This is sufficient to trigger pre-placed lay bets but would be difficult to act on using the manually operated trade out button which also requires the user to confirm their trade out.