Michael’s Place Lay Formula Final Review
Michael’s Place Lay Formula Final Review
Review Manager Dave-Reviews Michael’s Place Lay Formula
Rating: 
Passed and Approved
Hi Bloggers
This is Review Manager Dave I took over this review of Michael’s Place Lay Formula from a departed Sergeant who seemed to have got himself a bit confused with this one luckily enough it’s a strategy I know and use so I was able to put everything into place. So what is Michael’s Place Lay Formula? Just to recap it is laying horses not to get placed now you would assume this would be harder than laying horses not to win but this strategy delivers the goods, the strike rate is as good if not better than a lot of the other conventional lay products. Downside is you have to follow the racing live but by using Rules 1 to 4 you can actually work out possible races in advance you just need to make sure you are available 10 minutes before any chosen races. Then you incorporate Rules 5 to 8 plus an additional 2 once you have a selection, now like a lot of the strategies there is a little bit of leeway with Michael’s Place Lay Formula, for example if Rule 5 suddenly goes wrong just before the start you can trade out on your selection. Rule 7 uses the word “around” so providing all the other criteria’s are met you have a little bit of scope. The principle behind the strategy is sound and that is why it is successful although the rules might sound complicated but you will soon have them fixed in your mind.
Now I done some comparison of Michael’s Place Lay Formula with the other Top Rated Lay products we have tested on BST and certainly it came out on top on the profit made. If you base it against Layersof Profit you would have to come close to giving this one 5 stars, but I took in to consideration that you have to follow the racing live and it cannot be automated so I am awarding this 4.5 stars and recommending it, unfortunately I can not give it 4.75 stars as we do not use that figure. I am now considering having a shootout of the top rated laying products for the last 7 months plus a live trial, so watch out for this one if it goes ahead.
Anyway onto the main part the figures for Michaels Place Lay Formula for the last 84 days:
| Selections 83 / 71 winning Lays = 85.54% Strike Rate |
| Profit 32.15 points to 1 point Level Stakes |
| Return on Liability = 12.868% |
| Return on Investment = 38.73% |
| Average Price of Selection 4.01 |
| Average Price of Losing Lay 3.94 |
| Longest Winning Run 20 (once) |
| Longest Losing Run 1 (12 times) |
Well the most notable thing apart from the 32.15 points profit is the Return of Liability of 12.85% I mean any lay product that gets a figure of between 9 to 10% is considered very good. So how did the profit compare to the other major Lay products we have tested on BST let us look at a graph:
I showed this just to illustrate how far in front of the others Michael’s Place Lay Formula is. I mean the period covered does cover some tricky months October and November, of course December was totally disrupted by the weather but then of course the same circumstances applies to all four of them. Although Place Lays had 83 selections to BetfairMiracles 52, Graeme Murray’s GoldLays 17 and Layersof Profit 62 it still was way ahead even allowing for the numerical difference. In my review of GM ‘s Gold Lays it did post impressive ROL and ROI but the only thing that held it back was the small amount of selections and small profits, it would appear that Michael’s Place Lays fills this void whilst retaining a good strike and low liability. Was it a fluke I took the results from August 1st to December 31st for all four lay products once again I will show the profits in a graph form:
So let us see the numbers for Michael’s Place Lay Formula for those 5 months:
| Selections 227 /189 winning Lays = 83.26% Strike Rate |
| Profit 68.83 points to Level Stakes |
| Return on Liability = 10.10% |
| Return on Investment = 30.10% |
| Average Price of Selection 3.979 |
| Average Price of Losing Lay 3.92 |
| Longest Winning Run 23 (once), 18 (once) |
| Longest Losing Run 2 (4 times) |
So the strike rate took a slight drop but this was balanced by the reduction in the average odds, ROL and ROI are still impressive. Now the author of this strategy recommends a very simple staking plan to use with this and this would have further increased the profits to 51.75 points for the 3 months of the review and for the additional period we looked at, the 5 months this would have made 115.98 points profit.
Does it mean the other lay products are bad? Certainly not, the fact that we are going through tough spells and managing to make some kind of profit is a good sign.
To sum up I would recommend Michael’s Place Lay Formula the results for the 3 months of the review period were certainly no fluke and that was why I looked at a 5 month period as well. The key points to this strategy is short losing runs, low liability also it produces enough selections to generate a decent average monthly profit especially for a lay product. Negatives as already mentioned you have to follow live racing but you can plan your races in advance, the rules may sound complicated but not really once you have used them for a while. It could be possible as per the author that you could find different selections to him but the variation would not be that great, during the review of Michael’s Place Lay Formula this happened 4 times and they all were winning lays. I used the Racing Post and Sporting Life online to check on the going. So how much does Michael’s Place Lay formula cost as of today it is priced at £69.99 a reasonable price as this strategy will make profits, of course like all betting products it will suffer losing days maybe an occassional month but not many. Always remember to paper trade whilst you get the hang of the strategy this applies to all service/ systems really you never jump straight in always test and get use to the water first, this is a mistake than many a folk make.
Regards
RM Dave-Reviews Michael’s Place Lay Formula
Written by on Feb 21st, 2011. Comment. 
Passed 5/5 Stars
- All
By The Book Rating:
Passed 4.5/5 Stars
- Bonus Bagging Rating:
From LTO Review
- Betfair ATM Rating:
- Golden Key Method 2 Rating:
- Layers Of Profit Rating:
- Champion Draws Rating:
- Michaels Place Lay Formula Rating:
- ABSX System X-IV Rating:
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Comments on Michael’s Place Lay Formula Final Review
Hi Luigi
Thanks for replying. Very much appreciated. Could you suggest a tipster that I could look at? @Luigi:
@Redback:
Place Lay formula was tested for UK racing only and because you need to watch the races short before they start, I wouldn’t suggest this system for you. In fact I’m surprised that this system got such a good review as I found it highly subjective and wasn’t able to make any profit with it.
Look around for more recent reviews, as you’re in Australia perhaps the best for you would be following a tipster with proofed records, that sends out his selections once a day and doesn’t require following the races live.
Hi
I am brand new to the forum. I know very little about horses but would like to learn. I started a Betfair account last year and started laying horses. I made $100 twice and consequently lost the money back both times.
I have been reading a lot of these reviews and am in awe of the knowledge of most of you guys. I have decided not to do anymore real betting until I acquire more knowledge or at the very least buy and learn a decent system. This one interested me so I thought I would ask the question if this is a good one to start with.
My main concern is being a novice that this one may be hard to learn and apply. Would appreciate some feedback and advice. Also I also live in Australia so would it be impractical to buy on that basis alone?
Thankyou
sure cheif,
Your right 99% on the net is scam on forex.
If you do join let dave the owner know goose hooked you up,as this has a forum too.If it was no from the forum could not of done it.
Let me warn you its a simple system but took me a year to be good at it.Its a very tough game,as discipline is needed.Most people who join dont make it,not the method they just cant handle it.
Its called black dog forex
Or you could go the free route go to forex factory forum lots of free systems there,but starts to get complicated.
@Tony:
Hi Tony
I’ve often wondered about Forex but have been put off by the plethora of sites all promising instant wealth for 5 minutes work etc. Can you recommend a good system or website that is worth looking at for a Forex newbie?
Cheers
Sgt Jon
@Karl:
I totally agree with you…… with the betfair fees….The high random nature of laying the odds are against you….Tried it always failed.
Forex is the place to be..been a pro trader for 16 months .
The problem with laying horses that it can only be done on exchanges.
Betfair, in particular, has been proven to have odds that exactly, or almost exactly, reflect the true probability of the horses’ chances. Bookies set their odds to be an overestimate of the horses’ chances – to give them a profit margin. A bookie price of 2.0 means the horse has less than a 50-50 chance and it’s real chance is more like 2.1 or 2.2 as reflected on Betfair.
I saw a very good article on the web a while ago that graphed the betfair odds against the win/lose stats at various odds. The two graphs were almost exactly the same! This proves that Betfair odds more or less exactly reflect the true chances of a horse.
This is because the number of players on Betfair is so large that the statistical “law of averages” or “law of large numbers” kicks in. This states that the larger the sample size, the closer the result will be to the exact average for that event.
If you toss a coin 10 times, the number of heads will not necessarily be close to 5. But if you toss a coin 1,000 times, the number of heads will be much closer to 50%.
On Betfair when a horse’s odds are 2.0 it is statistically correct that the horse has a 50% chance of winning on average. Therefore, just randomly picking a horse to lay, will, on average over time, result in a break even or just less, due to the Betfair commission.
Oops! I feel a newsletter article coming on! LOL!
To “beat the odds” whether laying or backing, you have to have a market that does not reflect the true odds or probabilty for a horse. I suppose that is what systems and tips are trying to do.
Hi Karl,
Each to their own, and we all have our own opinions, I disagree with yours mate!
It ‘aint easy for sure, neither is backing, but there is certainly far, far more to laying than simply selecting losers, risk management, money management, discipline, etc, etc,etc.
Cheers,
Gordon
The reality is Laying horses is general just can not be done, I know there will be a raft of people who disagree, but it always catch’s up with you in the end.anyone in the UK may remember that Panorama program where that guy had the Jockies on his side to fix races, and even he lost, and on one race where the jockie agreed to lose and he lost half a million when the horse hosed up.
Try something, each time you lay any system selections, just randomly chose a horse from the same race, and I bet after a week/month you would of either done better or about the same.
Remember all these sytems have a vested interest in telling us it can be done.
Hi Clark,
I would be interested in knowing what bot you use and what how you altered the product as i do know that any good systems can be perfected by altering a few things.
Deco.
anybody using this system – can you tell me how liquid the market is for these place lays, from what I have read if your selection is already drifting on the win market and there could be at a conservative estimate 50 layers @ £50 = £2500 to be matched just before the off!
@Sgt Ian:
Hi Ian,
I would be VERY interested in using MFPro for this system.
I would appreciate if you could keep me updated on your progress if you decide to try and automate this.
Daveyboy.
Hi Jon,
There are quite a few bots out there which will in fact monitor 2 or more markets at the same time. So this could be done but is highly dependant upon the actual rules of the system itself for true full automation.
Basically if the information can be obtained from the markets themseleves then it can be automated.
I could have a go at this in Market Feeder Pro as a test to find out, if indeed enough people want me too.
ian
@Paul:
Hi Paul
As an occasional user of this system, I am not sure a bot could monitor the relationship between prices simultaneously in both the win and place markets on Betfair and then trigger the bet in accordance with the rules.
I may be wrong as I am not a programmer, but really I think MPLF is designed for live monitoring and betting.
Cheers
Jon
Can anyone recommend a bot for this system? TIA Paul
Hi Dave and others interested in this system!
Just to add my 5 cents worth…I reviewed Michael’s Place Lay Formula for another review site when it was first released in 2008 and can vouch that this laying method is very profitable because of the way in which the system rules inter link with each other thereby minimising risk (so far as risk can be minimised when betting on large, highly strung animals charging round a field sometimes with obstacles put in the way
)
Sure, you do get the occasional losing day but overall I was very impressed with the system rationale and results and am happy to endorse our review manager’s summary of his review.
Cheers
Sgt Jon
Hi Folks
I will answer some of the questions raised first George i am well aware of the forums you are talking about there postings are not based on 56/84 days tests, more likely they had one losing day and gave up and just want to slag of a product before giving it a decent run . Not only BST has reviewed Michael’s Place Lay Formula at least another 3 well respected sites have tested and come to the same conclusion it is bloody good. Did these other sites affect my judgement of the product absolutely not, i draw my own conclusions i have and use the product when i have time and it has a sound strategy and low liability plus profitability. The problem is alot of people want it on a plate not prepared to think, put effort in or anything else all i can say to them is good luck because they are going to need it.
Scotty i have already answered you by e-mail but just to let the other folks know around 5 to 15 minutes at the most to locate the potential races of course you need to start looking at your potential races around 10 minutes before the start upto the off time to see if you have a qualifying selection.
Elizabeth this strategy was released in 2008 now whether there has been any changes made i could not say the current version of which i have has 8 rules plus an additional a and b filters the PDF manual is 32 pages long.
Regards
RM Dave
Hi Do you know how long this system has been on the market?. It has the same name as one i bought 3 years ago.
Hi Dave,
How long does it take on average to find the possible races for the day?
Hi George,
Our website is an independant review website where the reviews typically last 84 days however this product was reviewed for over 5 months. In that time it achieved good results and has passed its trial. Inherently betting systems carry risk and past results do not predict future performance. We can only judge a system based on the results we have seen. Hence the approval and pass score.
Cheers
Richard Van Orden
BST Admin