Ultimate guide to betting exchanges

Backing and Laying with Betting Exchanges

This article gives you step by step instructions on how to place sports bets at betting exchanges like Matchbook and Ladbokes Exchange.

Compared to most betting sites, site that feature betting exchanges offer you interesting alterations on the common betting system. They are known as “back” and “lay” bets, we will explain how you can use these betting systems to maximise your profits and fun!

Now it’s time to explain how betting exchanges differ to normal bookmakers. In the image below you can see a usual 3-way-bet market showing Everton vs Newcastle.

3 way bet matchbook

What exactly is a “back”-bet?

In most exchanges “back” bets and their odds are marked in blue. This is the same betting type you would get at any bookmaker.

A “back” bet is a common sports bet where you put you stake on a certain outcome in this case Win, Lose or Draw.  If you bet £10 on Newcastle you win the amount of your stake, multiplied by the odds.

In this example a £10 bet at odds of  4.9, would get you a return of £39. Remember to deduct your initial bet of £10 to show the total clear profit amount of £29.

Betting odds explained

Betting odds explained

CLICK on the picture to place a back bet at Matchbook

The only difference to a regular sports bet is that your bet is not against the bookmaker but against another betting exchange user (who bet on a different outcome of the game in question).

Bear in mind that Exchanges charge a commission of up to 5 % from the profit of your bet. That means your account will only be credited by XX % of the profit you generate. If you lose your bet you do not have to pay any commission.

What is “lay”-betting?

This is a bet where bet AGAINST a specific outcome. Simply put, when laying a bet you act as the bookmaker. If you are not happy with an odd offered, you can offer a bet to other users and you decide at what odd you want to do so.

In the image below you see how you set the odds you want to offer and also the maximum amount a so called Backer (your counterpart who takes your bet) can bet.

Laying a bet

Laying a bet

CLICK on the picture to place a lay bet at Matchbook and get a free £25 bet

By offering a “lay” bet you get a double chance bet. As you bet AGAINST  Everton in our sample you win your bet if Newcastle United wins and also if they draw.

So now you sell your bet for £10 at an odd of 1.9. This means your betting account looks like this:

Betting options

If the Newcastle United win you win £10
If they draw you win £10
If Everton loose you lose £8.93. (£10 x 1.893 = £18.93 – stake £10 = £8.93 clear loss)

Getting your bets matched:
One thing to remember is that once you click to place the bet you need to double check that the bet has been matched (has been taken by another user). The more obscure the bet/sport the more time it will take to find a match. Similary if the odds you are offering are not as good as others finding a match will be harder. Picking bets with more people wanting to take your bet will give you better take up. For example Premier League matches, Wimbledon or Cheltenham races are heavily bet on.

Hopefully this guide on betting exchanges has helped you understand how to use these site to get more advanced betting options. To build a successful betting concept it is essential to invest a little bit of time to fully understand the betting market.

As you’ve read this far as a little treat we’ll show you this tip that can be very lucrative if done correctly.

Laying the Draw

This strategy is not really for beginners. It takes a good knowledge of betting markets and also in your chosen field (e.g. football, tennis, rugby etc.) you want to bet in. You can trial it risk free with a sign up offer

But this is how it works: First you search for a game in which you expect a goal within the first half. So you compare earlier games of those teams and check if the teams are prone to score a goal in the first 45 minutes or if one team is the favourite.

Next, you place a “lay” bet on a Draw. So you bet that either Team A or Team B wins. Lets say you offer odds of 4.5 with a stake of £10. Remember you have to have enough funds in your account to cover the pay out not your lay stake.

TRY OUT LAYING THE DRAW AT MATCHBOOK and get a free £25 bet.

In this example you would:

  • lose £35 on a Draw (£10 stake x 4.5 odds – £10 stake = £35)
  • win £10 on a Team A Win
  • win £10 on a Team B Win

The next step is to wait for the game to start and a goal to be scored. If a team scores the odds on a draw increases (to e.g. 6.8) and you place a “back” bet on the Draw. Now you place £6.62 on the Draw which would mean you get the profit of the “back” bet of £38.40 (£6.62 stake x 6.8 – £6.62 stake = £38.40) in case of a Draw.

In case of a Win of either Team A or B you will get your £10 from the “lay” bet decreased by the amount of the “back” bet (£10  “lay” profit – £6.62 “back”-loss = £3.38 clear profit).

In case of a Draw you will get your “back” profit decreased by the “lay” loss. (£38.4 “back” profit – £35″ lay”-loss = £3.4 clean profit)

Team A wins: 10 – 6.62 = 3.38
Team B wins: 10 – 6.62 = 3.38
Draw: -35 + 38.4 = 3.4

As you can see you will not make a lot of money with every bet, but if you use this strategy more often you can of course yield some good profits. The only case in which you would lose your stake of £35  is, if the game drew 0-0.

We reduce the risk by doing research before the game and statistically speaking only 6 out of 100 football games draw 0-0.

Hint: Place your “back” bet on the Draw quickly after the first goal as the odd is the highest immediately after the goal. You can also keep your stake for the “lay” bet small so in case of a 0-0 Draw your losses will be minor.

If you have success or any questions about this guide please leave a comment. Don’t forget to check out other tutorials which are available here.

Good Luck!

Leave a Comment