It's attracted the attention of a lot of different types of activity. Some people are form based and looking for horses to run in a particular manner, being held up or front run. Others are more intuitive and looking for action during the race to determine their final decision, while some are using pure stats to look for opportunities.
There are several different brands of exchanges now, but Betfair remains the biggest, and you will therefore find the most liquidity in their markets. However, something to consider when betting in-running is where you are watching the race, as some channels and providers can have time lags of up to three seconds. This obviously puts you at a disadvantage to players who have more up-to-date pictures.
To be a successful in-running punter you have to know the horses well to gain an edge. If you know how a horse usually reacts under pressure – for example – compared to others in the race, you have more surety of the final outcome.
There are different types of in-running bets:
Back-to-lay – This method involves backing a horse pre-race and then laying it in running at lower odds to guarantee a profit. This works well for horses who often travel well and/or race prominently.
Lay-to-back – Laying pre-race and backing at higher odds in running to guarantee a profit. This can work well with slow starting horses, or those that require lots of assistance from the saddle, but it’s worth bearing in mind this approach can lead to higher liabilities if the in-running part of the bet isn’t matched.
In-running back – This strategy can be implemented when a punter thinks a horse has a good chance, but either thinks that the horse will be available at bigger odds in the early stages of the race, or they want to wait to see how the contest unfolds in the early stages (e.g. does the horse in question have a history of refusing to race).
In-running lay – A good method for profiting from horses who flatter to deceive, regularly trading at low odds in running, but eventually getting beaten. The bet can be struck pre-race and ‘kept in play’, so if the horse hits the desired odds, a lay bet will be struck.