What Are Back Bets And Lay Bets
In this article, I will talk you through the definition of both a back bet and a lay bet. Both types of bets are nice and easy to understand. It is important for a matched bettor to have a good understanding of how they both work.
What is a Back Bet?
As matched bettors, we only place back bets with bookmakers.
A back bet is a conventional type of bet everyone is likely to have heard of. Simply put, placing a back bet refers to betting a certain amount of our own money on a horse or football team to win at an event in the hopes of winning more money back from the bookmaker if they do.
Here is an example of a typical back bet.
As you can see in the above example, I am placing £5 of my own money on Arsenal to win the football match, should they do so I will expect a return of £18 from the bookmaker (£5 of that being from my original stake). Should Arsenal not win the match meaning my back bet loses I will have lost my back stake of £5 to the bookmaker.
- Lay Betting Explained Laying is the same as backing, in that the process is the same. You can only be matched if there is someone willing to take the opposite side of the bet. This time though your laying, and you want someone to back the horse.
- In the German Bundesliga or Premier League Market you will always find enough people who will back or lay your bets. To build a successful betting concept, it is essential to invest a little bit of time to fully understand the betting market. To conclude, we want to show you another strategy which can prove very fruitful, if it is done right.
Back-To-Lay Bets. With a back-to-lay bet, also known as a D.O.B. (Double Or Bust) is where you would back a selection first at a certain price before the event, in our case a horse and lay it off after at a shorter price in-running to make a profit.
- My Risk: £5
- Bookmakers Risk: £13
What is a Lay Bet?
As matched bettors, we only place lay bets with betting exchanges.
A lay bet is the opposite of a back bet. Lay betting is the act of placing some of your own money on a horse or a football team to not win at that particular event. Therefore, we would lose our liability from the lay bet if the horse or football team that we bet against actually went on to win that event. Alternatively, we would win extra money from the lay stake if that horse or football team did not go on to win.
Note: A lay bet will cover a football team or a horse (or whatever you are placing a lay bet on) to not win at that event, this will include a draw. Mecca refer a friend. A lay bet is strictly placing your money on something to not win at an event.
Here is an example of a typical lay bet.
This time I have done the complete opposite of what I did with my back bet. I placed a £5 lay bet on Arsenal to not win their football match. If Arsenal does not win (including if they draw) my lay bet is a winner and I get to keep the lay stake of £5. Alternatively, Arsenal could win this match, if they do my lay bet will be a loser I must pay out £13 of liability.
- My Risk: £13
- Back Bettors Risk: £5
What Is The Difference Between a Back Bet And a Lay Bet
The difference between the 2 types of bets is very simple to understand as they are just the opposites of each other.
If we were to place a £5 back bet on Arsenal to win with a bookmaker at odds of 3.6 (just like in the back bet example earlier) we would expect a return of £18 if our back bet won. Our return would be the initial £5 back stake plus an additional £13 from the bookie.
Back stake (5) X back odds (3.6) = £18
Now, If we were to do the opposite and place a £5 lay bet on Arsenal with a betting exchange at odds of 3.6 (just like in the lay bet example) our position would now be reversed. Placing this lay bet would effectively mean that we are taking a fellow exchange users back bet on the same event, this also happens to be the same situation the bookmaker was in with me when I placed a £5 back bet with them earlier.
What this means is that we effectively take the role of a bookmaker when we place a lay bet, we take someone else’s £5 back bet who is looking for Arsenal to win their match at odds of 3.6. We are able to keep their £5 stake should Arsenal lose the match. However, if our lay bet losses meaning Arsenal win their match we would then need to pay out the back bettor our liability as they have won their bet and we have lost ours.
Our exchange liability (money at risk) is calculated using the below formula.
Back And Lay Betting
Back stake (5) X back odds (3.6) – Back Stake (5) = £13
To conclude, I have left a screenshot of both the earlier examples below, as you can see they are essentially mirror images of each other. When placing a back bet we are risking our back stake to win the bookmaker’s liability. When we place a lay bet we are risking our liability in order to win the back bettors stake.
READ THIS - IT'S IMPORTANT: Disclaimer:
This guide /report is for information only. In no way we are advising you to act on the guide /report or to bet on live markets. Please seek proper advice if you are unsure what to do.
Unmatched bets, prices out of range and other factors may influence your results compared to ours so we can in no way guarantee that you will achieve similar results. In fact your results could be worse.
Please see Betfair’s information on how they match bets.
Matched bets can be influenced by timing, stake amounts and other factors.
Online or off line betting is not appropriate for everyone.
Back And Lay Betting Sites In India
There is a substantial risk of loss associated with betting. Losses can and will occur. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the information on this guide /report/article will generate profits or ensure freedom from losses. Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular betting program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight.
In addition, hypothetical betting does not involve financial risk, and no hypothetical betting record can completely account for the impact of financial risk in actual betting. For example, the ability to withstand losses or to adhere to a particular betting program in spite of betting losses are material points which can also adversely affect betting results. There are numerous other factors related to the markets in general or to the implementation of any specific betting program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual betting results.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL BETTING.
Back And Lay Betting Systems
ALSO, SINCE THE BETS HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED BETTING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT.
Back And Lay Betting
NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.