What is Back and Lay Betting

Betting is fascinating. What make it even more interesting is its evolution and the emergence of new ways of betting. Back and lay betting is just one of the strategies that have come up in the recent past. So If you are looking to try back and lay, this is the right place to help you get it right.

Most people depend on luck to win while sports betting. However, with the right amount of strategy and planning, you stand a higher chance of success in this game. Betting is a mix of statistics, knowledge, and luck. Back and lay betting is one way to ensure you get better at placing winning bets. This article is a short guide on how you can use back and lay betting to make better shots.

Notably, ordinary betting sites do not offer the back and lay option; instead, only betting exchanges facilitate back and lay bets. So, to ensure you understand back and lay betting, let’s dive into how a betting exchange works.

A betting exchange is an online marketplace such as Betfair, Smarkets, or Matchbook, which facilitates the sale of bets between punters. These platforms earn a commission by charging a certain percentage of a player’s earnings on their site. For example, Betfair typically charges a 5% commission on the net winnings but may vary depending on the package the player has chosen. Most countries have a default market base rate of 5%, which Betfair uses. If a player loses, they do not have to pay a commission.

Players have the liberty to place either back bets or lay bets on betting exchanges.

Back Betting

Back betting is placing a bet for something to happen. Now that we have established that we are betting on a particular outcome, you will realize that most bookmarkers are built around this concept. The difference between bookmakers and betting exchange is that you bet against other betting exchange users, and the betting exchange has set a maximum amount to prevent the punter from placing an overbet.

If the team you have placed a bet for wins, then you win the bet; if it loses, your money is gone. For example, if you place a 10 Euros bet on Arsenal and Arsenal wins, your winnings will be 10 Euros multiplied by the odds. The net winnings are computed by subtracting the initial stake from the total. If the game ends in a draw or the other team wins, you lose the bet.

Therefore if the odds were 1.97,

• Total earnings will be 10*1.97=19.7 Euros 
• The net earnings will be 19.7-10=9.7 Euros 

On Betfair, a 5% commission will be charged on the 9.7 Euros.

Lay Betting 

A lay bet is the complete opposite of a back bet. Lay betting means money is placed against a certain outcome. It is a newer concept in the betting industry but has since gained popularity after Betfair launched in the market. For example, when placing a lay bet on a horse, you are hoping that the horse won’t win because if it wins, then you lose your bet. However, for the bet to be accepted, you create the odds that match another player’s back bet. Therefore, to make better sense of a lay bet, you have to view it relative to a back bet.

For example;

• A back bet; Inter Milan will win the Serie A 2021-2022
• A lay bet; Inter Milan will not win Serie A 2021-2022

Although lay betting is not common, it is a crucial tool in some betting strategies, such as matched betting. Some people prefer placing lay bets on teams that are better placed to achieve better-paying odds.

Back lay betting means that you are betting against other betting enthusiasts in the betting exchange. It accurately represents the market, and the price is not regulated by one entity. Betting exchanges do not add their own profit margins, ensuring more gains for punters.

Back lay betting allows punters to use matched betting, a low-risk strategy for guaranteed profit. Matched betting requires you to place two bets, a back bet and a lay bet. One bet will win while the other loses, which increases the possibility of making gains on all outcomes.

This strategy is a bit complicated for beginners. You will have to learn the key differences and examples of both back and lay bets. I hope you can always come back to this article to help you with the basics. Back and lay betting offers you options and a lower risk of losing money compared to other betting strategies. All the best, punter!