How does back and lay betting workers
Betting exchanges, however, don't lay any bets themselves but instead rely on other customers to both back and lay the bets against each other. You can either back or lay bets on an event. If you back a bet, you are predicting that the event will happen. If you lay a bet, you are. Lay the bet at shorter odds, and wager at the sportsbook with longer ones. If you win the bet with the bookie's offer, you'll have a tidy profit. ETHEREAL DOTA 2
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CORRECT SCORE BETTING TIP
A betting exchange may look like a standard sports betting site from the first look, but it works in a different way. Instead of you placing bets against the bookmaker, you place wagers against other bettors at an exchange, i. Therefore, you are not limited to the odds that the bookies set, nor are you restricted in the options you can back. You can back bets on an exchange in the same way you back bets with a normal bookie, the difference being that it is another person taking your bet not the bookie itself.
Conversely you can lay a bet to someone else, in effect becoming your own micro-bookie, you win in this scenario if the selection you lay loses. Through a traditional bookmaker, you could only hope that Manchester United actually does go on to win for a positive result. This happens regardless of whether the team actually wins the FA Cup or not.
How much should you wager on this kind of lay bet? If your lay bet wins i. By covering both the football team winning the event via your chosen bookmaker and the football team not winning the event at a betting exchange, you are certain to come out of it with some profit. And this is why many sports bettors utilise such a strategy — so as to provide themselves with an advantage over the bookmaker.
In effect you can do this with any odds discrepancy between a bookie and an exchange. You can also do it all on the exchange if the odds change, e. To work out how much you need to lay multiply the price you backed the selection at in decimal by the stake.
Take this value and divide it by the lay odds minus exchange commission you wish to lay at. This gives you your lay stake, i. Calculating what you would win if the selection wins is simply a matter of taking the odds you backed at in decimal, minus 1, multiplied by the back stake. Take this and subtract the lay odds, minus 1, multiplied by the lay stake: Odds you backed at -1 x stake - lay odds -1 x lay stake.
To work out what you will get if the selection loses multiple the lay stake, subtraction 1 minus commission, minus the stake you backed at: Stake you lay at x 1 - commission - stake you backed at. Opportunities Abound You may think that back-to-lay betting is not something you can frequently take advantage of, but you just need to know where to look.
Cast your mind back to when Leicester City won the Premier League. Yet for most gamblers, they only started paying attention to wagers on Leicester once they had demonstrated what they were all about in It was only then that sports betting fans sat up and took notice. Of course, while it looked as though Leicester could come through with the victory in the Premier League, nothing is ever guaranteed.
Once the team defeated Manchester City in February of that year, it presented a great opportunity for bettors to engage in a back-to-lay scenario. At that point, you could happily have sat back and watched the rest of the season take place, knowing that you had locked in a profit regardless of whether Leicester eventually came through with the win or not.
The key comes in looking for underdogs and outliers who are potentially given what look like impossible odds, and then they go on to overperform relative to the odds. It is this that provides a fantastic back-to-lay betting opportunity. This is because so many races take place throughout the year, that you can build upon the strategy in this area a number of times per day.
Securing even small profits from practicing this strategy will be great, as they can build up over the day, week or month. Despite there being a number of good resources available to use online to find front runners in horse racing events, many of them require a payment to utilise in full. That being said, one or two do exist as free-to-use services, with the daily shortlist providing insightful information on the daily horse races.
Front runners will often be identified by their previous behaviour in racing events. If certain horses like to lead in their races, and they are not matched by any other potential front-runners, this can provide you with ample opportunity for betting. Usually, the horses that lead at the start of a race will shorten-up in the live betting stakes market. Therefore, you can factor that information in to your strategy before a race begins. If you know that a specific horse is likely to lead in a race, then you have an angle to place a back bet prior to the race starting, before laying that bet once it starts at shorter odds.
Of course, horse racing markets move exceptionally quickly once a race begins. An exchange may be a new concept to any beginners out there so this section is for you. What is a betting exchange? A betting exchange, for example, Smarkets , is an online marketplace where punters can bet against each other rather than with a bookmaker. These peer to peer platforms allow the punter to act as a traditional bookie and sell a bet, otherwise known as laying a bet more on this later.
Think of a betting exchange as a place to trade bets, much like you would on the financial stock market. This commission varies between different exchanges but ranges from 1. Typically a betting exchange offers the true market price odds whereas bookmakers add their profit margin into the odds, which means less value for you, the punter.
As with any market, for a bet to go ahead, there needs to be a buyer and a seller, similar to eBay, Amazon and any other marketplace for that matter. In the betting industry, a buyer is someone looking to back a bet and a seller is someone looking to lay a bet. You may have worked out that punters can place both back and lay bets at a betting exchange. This makes them incredibly versatile and popular betting platforms. What is back betting? So, what exactly is back betting? Back betting or backing is the traditional and most common type of betting format.
Placing a back bet on a horse simply means you are staking money on it to win. As simple as that. The bookmakers set the odds according to the likelihood of an outcome, taking into account the current market price and their margin, as I mentioned above. So what about lay betting? What is lay betting? However, Betfair still leads the way in terms of size and popularity. Anyway, back to the important stuff.
A lay bet is the opposite of a back bet. Placing a lay bet on a horse simply means you are staking money on it NOT to win. If the horse does win, you lose your bet. This may seem counterintuitive but it makes more sense if you just look at lay bets as the reverse of back bets. Back and lay betting examples Below are a few back and lay examples to help explain and show the difference.
As you can see, back and lay bets are the direct opposite of each other. Back and lay betting comparison The table below shows a comparison between back and lay bets. If Horse A wins, your back bet will win and your lay bet will lose. Whatever betting market you look at, the odds are generally not the same between different bookmakers. This is especially the case when it comes to back and lay odds. This is clear to see in the example below: Back odds at Coral for a tennis match: Lay odds at Smarkets betting exchange for the same tennis match: You can see the back odds are 3.
A discrepancy like this is quite typical and is sometimes bigger than this. Speaking of making a guaranteed profit, many punters use a betting strategy called matched betting that uses the back lay process mentioned above. Step one — Open your exchange account The first step is to head to your favourite betting exchange. Step two — Find the right market Next, find the market you want to bet on.
I want to place my bet on the fourth Ashes Test. Step three — Back or lay bet? This is the important bit. Betting exchanges differentiate between the two by using different colours. At Smarkets, green represents a back bet and blue represents a lay bet. Another way to distinguish between the two, the lay bets are always on the right-hand side. Betfair and other exchanges use a different colour scheme but you can find out more about that in our betting exchange guide.
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