Lay Betting Tips iPhone-Screenshots
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Back bet : Leicester City will win the Premier League this season. As you can see, back and lay bets are the direct opposite of each other.
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.
The first step is to head to your favourite betting exchange. Next, find the market you want to bet on. I want to place my bet on the fourth Ashes Test.
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.
A few years ago, as online gambling became more appealing and more bookies sprang up, so did the competition in the betting industry.
The only way for bookies to attract and keep new customers is to offer them incentives to keep them betting much like this Smarkets free bet.
Bettors take advantage of these free bets and bonuses and make a guaranteed profit in the process. Back lay betting is the main concept behind matched betting and other low-risk trading strategies.
It allows punters to make a guaranteed profit without putting their own money at risk. This concept can be quite challenging for matched betting beginners so bookmark this page and come back to it, if necessary.
For almost every matched betting offer you complete, you place two bets. One back bet and one lay bet, on the same market. In this scenario, one bet will always win and one will always lose.
By using this back and lay betting strategy, your two bets effectively cancel each other out making matched betting completely risk-free.
Before you access a free bet or bonus, you often need to stake a certain amount of money. So an offer may look something like:.
Matched bettors use the back and lay process to achieve this risk-free. Check out this article for more information on how matched betting works.
So we know what back and lay betting is and we know how to use it. When it comes to matched betting, you can select any market to place your bets. However, some markets are better than others.
Our first tip is to select a market where the back and lay odds are close together. The tighter the odds, the more money you make. For example, if Manchester United were to play a 4th division side, then it goes without saying that the chance of Manchester United losing are very small, and therefore should you place a lay bet on them losing, then your liability will be higher than if you were betting on them to win.
On the image above, you can see that I have placed a lay bet at odds of 2. Meaning should the even not go your way, you will lose more than the backers stake.
Also, because your are laying events to lose, the odds very much decide how much you will lose, and not the stake. This is very important, because with lay betting you can lose a lot of money should you lay an outsider to lose, and it wins, and this happens way more than you think.
It is highly possible that the exchanges have been manipulated so that the odds are much higher than they should be.
The chances of a horse winning at odds of 55 are slim to almost none, but it could happen, so although you can be making regular profits by laying events, should one not go your way, it can wipe your bank out!
For all of the positives there are definitely some downsides to a lay betting system. This is often mentioned in the same breath as the fact that building a bank with lay betting is a somewhat laborious process.
As I have already touched upon in exploring what a lay betting system involves, there is also the fact that you can stand to lose more on a per bet basis.
This can be devastating when it is combined with a badly managed service which cannot maintain the high strike rate. Lay betting is one of the more successful methods of betting that I have come across and it is something that is seriously worth your consideration if you want to take your betting to the next level.
In terms of finding a decent lay betting system, a pretty good place to start looking is somewhere like the Racing Index a website which proofs both back and lay betting services.
Where it stands out it is that it separates the two so you can find just laying systems. There are also a few notable examples such as Little Acorns which consistently do well.
When you are looking for a lay betting system it is important that you look for something that is consistent. If you are able to get a decent lay betting service however, it can become the cornerstone of your betting portfolio with consistent wins allowing you to take more flamboyant risks with your other bets.
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