Back And Lay Betting Explained
That being said, Betfair promotes gambleaware.co.uk to help customers understand the importance of betting being a fun experience rather than a distressing one. Lack of liquidity – you may not find a player to back your lay bet, and vice versa. So for example, the box that is highlighted in red shows us that there is £4,355 available to lay at a price of 4.3. This means the total back bets from other exchange users at is £4,355. If we should want to lay Brentford for more than this figure, the price would move to 4.4.
A little like hedging, lay betting can be used to reduce risk and, in some cases, guarantee a profit. The most important thing to understand about laying a bet is that the profit and liability are different to a traditional bet. That is where Profit Accumulator’s betting calculator comes in particularly useful. Members can also access oddsmatching software, which will automatically flag up instances where they lay price is higher than the bookmaker price – an arbitrage bet opportunity.
The bet slip updates in real-time so you can see how much you’ll win or lose depending on your stake. Another way to distinguish between the two, the lay bets are always on the right-hand side. The first step is to head to your favourite betting exchange. In this example, I’m going to use Smarkets as they’re my preferred choice. This may seem counterintuitive but it makes more sense if you just look at lay bets as the reverse of back bets.
If one is able to combine a lay bet at a betting exchange with a regular bet with bet365 or another bookie, one could have all sides of the bargain covered if the odds allow. Hence, one will make a profit either way despite which way the match swings. This is known as arbitrage and you can read more on arbitrage here.
A proven football betting system will grow your bank over time and it’s even possible to back and lay on Betfair for a living. So long as bookmakers offer sign-up bonuses and ongoing free bets you will always make guaranteed profits with matched betting. It is wise to know about the liability you have in lay betting.
However, whilst an exchange can seem a little confusing at first, the concept is ultimately a simple one. You are betting against an outcome occurring and you win as long as whatever you lay doesn’t win. You become the bookmaker and accept the stakes of fellow punters who are on the other side of the bet and want it to win. Let us imagine that there is a short-priced favourite in a big race but you really don’t fancy it. The traditional option would be to pick another runner or two and perhaps a longer priced each way pick to take the jolly on.