Backing and Laying with Betting Exchanges
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.
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.
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).
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.
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:
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.
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.