- Which is the best system is really down to the individual, but on this page, we’ll lay out something that is sure to pique everyone’s interest, which you can then go on to use with the best football betting sites. Back & Lay – One of the Best Football Betting.
- A lay betting site or betting exchange is different to a traditional sportsbook. Those operating at a sportsbook will place bets on odds that are determined by the bookie. As such, such platforms come with a profit margin, with the popularity of markets often determining prices. A sportsbook also offers no back or lay betting.
If you’re interested in placing ‘lay bets’ as well as the more traditional ‘back bets’, then you will need to look for an online betting exchange rather than a traditional online bookmaker.
Lay Betting Sites: How Do Betting Exchanges Work? One of the biggest revolutions brought about by the online betting industry is the ability to back against certain results rather than for them. This is known as lay betting, and means you bet that something won’t happen rather than betting that it will. If you lay them for £25 you are guaranteed a total profit of £14.25 win, lose or draw at the end of the match. A simpler form of betting which involves both back and lay bets is matched betting. As the name suggests, matched betting is where you match back and lay bets. It’s a great way to make guaranteed profits. 4 Proven Betting Systems That Work. I remember when I first started searching for a proven betting system googling the term “ betting systems.” There was all sorts of progressive staking systems, martingale systems, stop at a winner systems, progressive laying systems.The fact was though that none of these betting.
Online betting exchanges differ from traditional sites in that they allow punters to bet against one another and it is this which makes both types of bet possible.
Best Betting Exchange: Betfair vs Betdaq
There are only two main exchanges worth considering, Betfair and Betdaq, and the major differences between these are explained below:
| Feature | Betfair | Betdaq |
|---|---|---|
| Liquidity | As by far the largest betting exchange in the world, Betfair’s liquidity is second to none. Their high volume of punters ensures excellent liquidity for popular events and even smaller events still boast better liquidity than can be found elsewhere. | As the second largest exchange in the world, you might expect Betdaq’s liquidity to be almost as good as Betfair. That is unfortunately not the case, however, as Betdaq are still far smaller than their main rival and as such you may struggle to get your bets on when it comes to lesser events. |
| Range of markets | Users of the Betfair Exchange can choose between upwards of 25 major categories of market. These include almost every sport under the sun as well as other special events. Numerous competitions are covered for the biggest sports and even smaller events boast a large number of different types of market. | Users of the Betfair Exchange can choose between upwards of 25 major categories of market. These include almost every sport under the sun as well as other special events. Numerous competitions are covered for the biggest sports and even smaller events boast a large number of different types of market. |
| Live Streaming | Horse racing and some other sporting events (including football) can be streamed live through Betfair Live Video. The available sporting events are free to view for all customers with a funded account, whilst horse races can be watched if a customer has placed a minimum £5 matched bet on that race. | Horse racing and greyhound racing only, with races available to be watched by customers who have placed a bet of at least £0.50 on the races. |
| Promotions | My Betfair rewards program offering the chance to earn bonuses and free bets every month of up to £100 in value. | Promotions rarely offered – currently zero running. |
| Opening Bonus | £100 free bet bundleNew customer offer. Place 5 x £10 or more bets to receive £20 in free bets. Repeat up to 5 times to receive maximum £100 bonus. Min odds 1/2 (1.5). Exchange bets excluded. T&Cs apply. | Up To £1,000 Cash BackUp to £1,000 commission back at the end of the first 30 days as withdrawable funds. Standard 5% commission rate applies. Not available to API, RDT or Trading Tool customers. 18+. T&C's apply. |
What is an Online Betting Exchange?
Now that you know the main differences between the two biggest betting exchanges around, it is worth taking a moment to consider just what is meant by the term ‘betting exchange’. In essence, a betting exchange is a forum in which punters can bet against one another and therefore can place one of two different types of bet.
What Is Back Bet?
The first type of bet possible through a betting exchange is a ‘back bet’. This is essentially the same as a traditional bet, in that you are betting that something will happen. You might bet, for instance, that Manchester City will win the Premier League, that Lewis Hamilton will win the next F1 Grand Prix or that snow will fall in London on Christmas Day.
What Is A Lay Bet?
The second type of bet available through a betting exchange, meanwhile, is a ‘lay bet’ and this is something very different entirely. In fact, it is the opposite of a ‘back bet’ in that you are gambling on something not occurring. Such a bet, therefore, might be that Manchester City will not win the Premier League, that Lewis Hamilton will not win the Grand Prix or that snow will not fall. What a betting exchange essentially allows you to do, therefore, is to play the bookmaker to another punter’s ‘back bet’ and to win if their bet fails.
Lay Betting Explained
Lay betting is an option on exchanges like Betfair where bettors can play the role of the bookmaker and back something not to happen. Punters offer odds to sell a bet instead of to back a bet. It is one component of matched betting, where punters both back and sell bets on the same game to guarantee a win.
- When you lay a bet, you are betting on something to not happen
- Lay bets are made on exchanges such as Betfair
- Our comprehensive guide takes you step-by-step
Lay betting allows you to ‘be the bookie’. Rather than backing a selection to win, lay betting enables you to bet on something to not happen.
For instance, you may not know which side will win the Premier League title but you think you have a good idea which side won’t win it. In this instance, a lay bet might be right for you.
Lay betting would allow you to bet on that team to not win the league. If anyone else wins the Premier League, then you win your bet. If they do win the league, then, of course, you would lose.
What Does Liability in Lay Betting Mean?
Liability is an important concept to understand when learning about lay betting. When you conventionally back a horse to win, the amount of money you can lose is your stake. I.e. if you bet £10 on a horse to win and it comes 3rd, it is only £10 you can lose.
This is different in lay betting.
Lay Betting Sites Uk
Think of yourself as the bookmaker. If you lose your bet, the bookmaker keeps your stake. If you win, then the bookmaker has to pay out your winnings. It can be a lot more than your original stake.
This is same as laying a bet. If the selection does win, you have to pay out the winnings. That potential payout is known as your liability. It how much you need to pay out if you lose your bet.
Example 1) You lay a horse at 3.00
- You lay a horse at 3.00
- The backer’s stake is £10
- Your liability is £20
In this example, if any other horse wins, then you win the losing stake of £10. The horse is priced at 3.00. If the horse wins the race, then your liability is equal to the winnings for the backer. This is £20. It is only the winnings you pay, as the backer’s original stake is returned to them.
Example 2) You lay a horse at 5.00
- You lay a horse at 5.00
- The backer’s stake is £20
- Your liability is £80
In this example, if any other horse wins, then you win the losing stake of £20. The horse is priced at 5.00. If the horse wins the race, then your liability is equal to the winnings for the backer. This is £80. It is only the winnings you pay, as the backer’s original stake is returned to them.
Example 3) You lay a horse at 27.00
- You lay a horse at 27.00
- The backer’s stake is £10
- Your liability is £260
Lay Bet Craps
We wanted to put in this example since it shows how liability can quickly grow. In this case, laying this bet would generate a potential return of £10. At odds of 27.00, probability dictates that this horse is unlikely to win, but if it does, the liability is £260. When laying bets at high prices, one has to consider whether the chance of gaining £10 is worth the risk of losing £260.
What Does Laying Off a Bet Mean?
This is different. Laying off a bet refers to betting against something you have already backed.
For example, say you back Newcastle at 8.00 to beat Chelsea before the match starts. During the game, they take a surprise 2-0 lead. The odds for Newcastle to win this game shorten.
You can choose to now ‘lay off’ this bet. By laying the same bet as you back, you are betting both on it to happen, and for it not happen. Because the odds have got shorter, you are guaranteed profit for doing so. This is similar to cashing out your bet earlier. Laying off your bet allows you to take reduced, but guaranteed winnings.
Is Lay Betting Legal?
Matched betting is legal in the United Kingdom. Just be sure to only use sites that are certified with the UK Gambling Commission. All of the sites we recommend follow the criteria.
Summary
When you lay a bet, you are betting on something to not happen. If the selection loses then you win the backer’s stake. However, if it wins then you pay the winnings. This is known as the liability, i.e. how much you will potentially have to pay out.