Review of Layfair Trading Pty Ltd
Im not sure how it happened but one day I found myself talking with a lovely Gentleman from Layfair Trading Pty Ltd with the name of W, W called me out of the blue and said he had a wonderful opportunity for me that would see me earning and extra $100-$200 per day everyday.
The reason for this was a software system that his company had developed which used the Lay betting system on Betfair. For those that dont know, you can bet on a horse to LOSE using this Lay betting and as you may think its easier to pick one losing horse out of 14 than it is to pick the 1 winner.
This all seemed straight forward enough and I was interested enough to have a demonstration the next week. I was then contacted by C and shown a demonstration of the software picking losing horses and the gathering of profits from this demonstration.
One thing I must point out at this stage is when you Lay a horse you match the odds that the Bet is. For instance if I went into a betting shop and Bet $1 on a horse to win at 10 to 1 I would expect to leave with $10 if the horse wins. Conversely the act of laying that horse to lose I would bet $1 and if it indeed loses you will win your $1 back and another $1. HOWEVER if the horse wins I lose $10.
The following are some of the statements that were made to me by Layfair before purchase.
Its a set and forget system for making between $100-$200 per day automatically If you call me in a couple of months and say its not for me I will refund your purchase cost no dramas Its a great business earning many of our clients that extra income to help them with costs these days You become the bookmaker and therefore make the money
Sounds Good
Firstly I had to open a betfair account and fund it with funds from my bank account to bet with.
Then I parted with the cash (for the software), installed the software set the settings to the default and let her rip.
The software went to work and won me some money on the first and second days but on the third day lost me more than I had won on the other two.
This is the pattern that has repeated itself over the last month or so, winning a say 10 in a row and losing one or two. The net result of this is that I have lost a good amount of money. Needless to say the software does NOT do what was promised and I have now contacted Layfair and asked for a refund and have been told that they do not do them.
They are quite happy to help me to try and win my money back by giving me different settings to put into the system but this did the same as the original settings only more quickly, I will try to explain.
I would win lets say 10 races at $20 Winning $200 Then the software would pick a horse that Wins (or a loss for me) at 18 to 1 meaning my $20 stake turns into a loss of $360. Take this away from the $200 that was won and you are down $160. Also bearing in mind that every time you Lay a horse at say, 15 to one you a risking 15 times the stake and if you lose you are now 15 bets behind and have to risk ($20 X Odds) for another 15 goes before you get even.
I think there may be a place for lay betting in anyones life that likes to gamble but I was sold this software under the premise that it was set and forget to win on average everyday $100-$200 and not gambling.
Also when sold the dream I was told you could bet everyday but when I started losing I was give different reasons such as:
You should not bet on a Sunday as the market is not good or a Monday or Tuesday. Everyday $100-$200??? You should change the settings back to the standard There are only 3 setting to change that have a bearing on the selections You should change the settings to a more risky strategy What and lose more money more quickly Yesterday was not a good day for anyone Especially me We are winning regularly on our test machines, it must be something you are doing Yep turning the software on in the first place.
Anyone considering this type if betting should be aware there are other ways to get into it that are cheaper and you can change 1,000 settings if you wish thereby taking full responsibility for your wins and losses. With Layfair it is set and forget. Forget you had that money in the first place as it will be gone shortly.
All in all I have been lied to, ripped off and I believe the company is a short term Scam, which will change its name in the near future and startup again. I have asked for a Tax Invoice on a number of occasions and I am yet to receive one for my considerable Investment. The people at the company come across a wanting to help but in the background I feel they are not.
My reason for writing this review is to warn other people NOT to invest in this software as I does not work and is a waste of a considerable amount of money. And when I say considerable amount Im talking thousands. I am the fool here and I have no one to blame but myself for being gullible, please do not fall into this trap with me.
Duncan, Perth, Western Australia
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