Confused about what back and lay betting is, how it works and what to use it for? You’re not alone.
In this guide for beginners, we’ll cover what back and lay betting is, and how to use it in your betting strategy.
We will share our top back and lay tips to help you maximise your profit in 2022 and beyond.
Back and lay betting is a technique that advanced cricket bettors frequently employ to attempt a managed return.
In theory, the practice can reduce losses and even guarantee a win, so let’s look at what that means in practice.
What is back and lay in betting?
A back bet is a traditional sports bet on an event that you think is going to happen.
Oh, In cricket, there are many examples. Let’s say that we want to stake on Joe Root to score a century in the first test match of a series against India.
A lay bet is a stake on the event not happening so, in this case, we would bet on Root not to score a century.
What Does It Mean to Lay a Bet?
Laying a bet entails betting against a particular outcome. You’re essentially betting your money that nothing will happen.
You can bet on anything that comes to mind, but there’s no guarantee that another player will agree to back it.
If your gut tells you that a major favourite, such as Napoli, will be eliminated sooner than expected, you should lay.
You can lay bets on individual matches in addition to outrights. You can bet that one of the three possible outcomes, namely a home win, an away win, or a draw, will not occur.
Now, How to calculate a Back Bet?
A back bet’s profit can be easily calculated by multiplying the backer stake by the decimal odds.
let’s take an example:
if you bet Rs. 10 on India to win against Australia with odds of 2.5, your winnings will be calculated as follows:
So, the Formulae are: Stake * Decimal Odds = Returns
Returns – Stake = Profit.
Rs. 10 * 2.5 = Rs. 25.
Rs. 25 – Rs. 10 = Rs. 15.
It is the standard form of betting.
If your wager wins, you win and the bookmaker loses money.
You place your wager against the bookmaker.
How to calculate a Lay Bet?
When using a traditional bookmaker, you lay the bet against yourself while the bookmaker backs it.
You can play the part of a bookmaker on a betting exchange. You manage the backer stake as well as the lay stake when entering the stake in a lay bet.
As a result, if your lay bet wins, you stand to win rather than lose money.
The liability is the sum that, should the backer’s wager be successful, you stand to lose.
Therefore, it’s crucial to keep in mind that since you’re betting against actual people, if one person wins, the other will lose. Understanding how to calculate a lay bet in reverse is the best method.
Consider it a liability, with the stake representing the profit.
Assuming the same circumstances as above, you will determine the liability of a wager against India at odds of 3.0 as follows:
Backer Stake * (Odds – 1) = Liability
Rs. 10* (3-1)
Rs. 10* 2.0 = Rs. 20.
In this case, the player must risk Rs. 20 to win around Rs. 10.
Before placing a bet, betting exchange platforms provide all necessary information about the bet.
It is critical to understand that you are not simply betting Rs. 10, but Rs. 20 with a higher risk.
What is a back-to-lay arbitrage betting strategy?
The back-to-lay arbitrage betting strategy, which consists of two bets between a bookmaker and a betting exchange, is now the most popular method of sports betting arbitrage.
This strategy allows bettors to back with a bookmaker and then lay the same outcome for a profit on a betting exchange.
When the lay price on one exchange is lower than the back odds on another exchange or bookmaker, arbitrage opportunities arise.
If done correctly, these bets will cover all possible outcomes of an event, ensuring a profit regardless of the result.
What are Back and lay betting examples?
A few back and lay examples are provided below to help clarify and illustrate the differences.
Back bet: India will win the Asia Cup in 2022
Lay bet: India will NOT win the Asia Cup in 2022.
OR
Back bet: Leicester City will win the Premier League this season.
Lay bet: Leicester City will NOT win the Premier League this season.
As you can see, back and lay bets are opposed.
How to Place back and lay bets?
This section will examine how simple it is to lay and back bets at your preferred betting sites.
If you’ve ever placed a bet or two, you’ll find the next step to be very simple.
If you’ve never bet before, don’t worry; you’ll have the strategy down in no time.
Here are the steps:
Step 1:
Open your exchange account:
The first step is to head to your favourite betting exchange.
Step 2:
Find the right market.
Next, find the market you want to bet on. You can place back and lay bets on any category or sporting event, as long as it’s available at the exchange.
Step 3:
Choose Back or lay bet.
This is the important bit. Once you’ve found the market, you need to choose between a back or lay bet.
Step 4:
Enter your stake.
The bet slip updates in real-time so you can see how much you’ll win or lose depending on your stake.
Step 5:
Place your bet.
The following action is placing your wager.
Click “Place Bet” when you are satisfied with your choice and stake. It’s that easy.
What are Back and lay betting tips?
So, now that, we are aware of what back and lay betting is and how to apply it.
Let’s look at some of the best advice for boosting your betting success and profitability in 2022 and beyond.
Tip #1: Tight back and lay odds.
Our first piece of advice concerns matched betting. You can choose any market to bet on when you engage in matched betting. Though some markets are superior to others.
Tip #2: Always place the back bet first.
Our next matched betting tip is to always place the back bet before the lay bet. The significance of this advice cannot be emphasised enough.
If you placed your back bet first, it will be much simpler to correct any mistakes if you use the betting calculator incorrectly or enter the wrong numbers into the betting slip.
Conclusion:
It concludes our guide to back and lay bets.
You should now have a better understanding of back lay betting, its appeal, and how to incorporate it into your 2022 betting plan.
Before you start making any bets at a betting exchange, this is undoubtedly the most crucial idea to understand, so I recommend devoting some time to it. I advise you to place your initial back and lay bets gradually until you have the procedure down. If you follow this, you’ll soon be an expert.
