Return to the Main FAQ's PageFAQ # 22
ALL-WaysTM Support
What is an Overlay?
What is an Underlay?
First, an Overlay is good and an Underlay is bad. This is, in our opinion, a fundamental principle of profitable play. This applies to horse racing and to any other form of wagering. You should only bet on Overlays. You should never bet on Underlays.
One of the powerful features of ALL-Ways is that it creates an oddsline for the race. ALL-Ways first determines the probability of each horse in terms of its chances of winning the race. Then it converts the probability percentage to an odds figure. You can see the probability percentage and the corresponding odds for every horse on the Oddsline Report and the Paceline Report. The odds are also shown on the Contender Summary Report.
An Overlay is simply when the tote board odds indicate a horse will pay more than the odds determined by ALL-Ways. If ALL-Ways has a horse at 2 to 1 and the tote board says the horse will pay 3 to 1, then you have an Overlay. On the other hand, if ALL-Ways has the horse at 2 to 1 and the tote board says the horse will pay even money, then you have an Underlay.
Do not bet Underlays!
Do bet Overays!