With everyone opting for the matched betting system, here we will focus on ‘Laying’ and ‘Backing’. Laying and Backing are the two essential terms one should know about. If you will get to know about these terms, you can earn a lot with a safe play.
As you may know, every bet has two sides: someone wagering for an event to occur, which is known as backing. And someone betting against that event occurring, which is known as laying.
You can use back and lay betting sites, but first, you should grasp what each term actually means.
What exactly is Back Betting?
Back betting is what you would have done with any bookmaker, such as TAB or Sportsbet, and is the traditional way of betting for punters. Back betting is a bet on the outcome of an event.
This is the more traditional form of betting with which we are better familiar. We are betting on a team to win, a person to score a hundred points, a team to hit the most sixes, and many other frequent examples.
You are ‘backing’ the event to occur. Thus, if you bet on Joe Root to score a century, you will receive a return if he scores 100 runs or more.
Or in the Asia Cup, for example, if you place a Back bet on a team, you are betting for that team to win the match. You will lose your stake if it does not win the match. You win if your team wins the game.
What is Lay Betting?
A lay bet is when you wager on an outcome that will not occur. For instance, if you bet on a horse not to win a race, a football team not to win a game, or a golfer not to make a birdie on a specific hole.
You essentially become the bookmaker when you lay a bet. It’s the same as saying to a friend, “I bet you xxx will never happen.”
The same is true when viewing sporting activities. While predicting the outcome of a horse race or football match can be difficult. You may find it easier to take the position that one horse/team will not win. In this case, lay betting allows you, the gambler, to back your belief and bet that something will not happen.
In lay betting, it is critical to understand that you can lose more than you have staked.
For example, if you decide to lay a 2/1 shot for £20, you will win £20 if it loses. However, if you are incorrect and it wins, you will lose £40 (2 x £20).
Understanding the additional liability that can arise when you lay a bet is an important component in having a lay betting explained. Before you get involved in lay betting, it is critical that you comprehend the term “liability.”
What is Lay Commission?
Unlike traditional bookmakers and sportsbooks, betting exchanges charge their consumers a commission.
One advantage of using a betting exchange is that they generally give better odds. Obtaining these higher odds, less the commission is frequently preferable to accepting the odds supplied by regular bookies and sportsbooks.
The percentage amount charged for betting exchange commission rates varies for every company, as does the structure of how the commission rate is computed.
If you choose Back/Lay betting, you can reduce your commission.
Remember the exchange charge commission Only to Net Winnings. which means if you make multiple bets on the same markets, your commission will be against (Total Winning – Total Loss). To reduce lay betting liability, use this strategy with the one after that.
What is Lay and Back betting calculator?
The calculator is also applicable to strategies that mix bookmaker (back) bets with exchange lay bets. There are two types of hedging opportunities: 1. You placed a back bet, and the lay odds have since dropped below your back odds. 2. You bet on the lay and the back odds have since increased above your lay odds.
The primary purpose of a Back / Lay calculator is to provide punters with the correct stake to place on both the Back (win) and Lay (loss) selections of a bet in order to guarantee an equal payout regardless of the outcome. This pay out does not always have to result in a profit, people call it Greening; one can also use it to limit losses, and its name is reding out.
Hedging is also a famous word for a strategy of financial trading; the classic but low, sell high mantra comes to mind. It is also known as an Arbitrage calculator or Arb calculator, which is a financial word that refers to a trader taking advantage of prices in several marketplaces (different bookies and back lay betting sites) to ensure a profit. A Sure bet calculator is another name for it; however, this is more usually used when backing all selections to lock in a profit.
And some hopeful gamblers refer to it as a Greening out calculator, oblivious to the potential of reding out and losing money. Because several of these names are interchangeable or can refer to a different form of bet, we will simply refer to it as a Back / Lay calculator to avoid any confusion.
Commission option in Back/Lay Calculator
Given that only betting exchanges provide Lay prices, any good Back / Lay calculator must include a commission option. This is due to the fact that the commission charged by different betting exchanges varies, and some exchanges cut their commission for frequent punters while others give promotional commission changes.
Back and Lay may be a fascinating and helpful system once you’ve gained some experience. It’s also quite simple to grasp, and I’d recommend starting with a few theoretical bets.
One of the potential benefits is that the exchanges frequently offer better odds than traditional bookmakers. So, if you prefer back betting, why not visit an exchange and compare their prices?
Taking a back and a lay bet is another option for experienced gamblers to lock in a guaranteed profit.
Assume you placed a back bet prior to the start of a game. And the chances of that bet winning diminish as the game progresses. There is a chance that a profit will be made regardless of the outcome.
You will need more experience and math skills to carry out that strategy efficiently. Which is another reason why Back and Lay can be appealing.
The lay bet is absolutely worth experimenting with, as betting exchanges provide greater freedom and potential earnings. However, we urge that you familiarise yourself with the process before taking on larger liabilities. It’s simply good practice.
Good luck and bet responsibly.