Betting Exchange Explained: Back and Lay Betting Calculator A betting exchange is a marketplace where the customers bet against each other, instead of betting against the bookmaker. Hence, they can request or offer odds to the other bettors. Generally, when it comes to any operator, a bettor is allowed to make a back bet.
The growing popularity of exchange betting has moved the goalposts forever, allowing punters like you to bet on sporting events with even greater confidence. Lay Betting is one of the main reasons and, when used well, it can completely transform your approach to betting.
They say the bookies always win, and lay betting enables you to experience that first hand. While it may sound a little confusing if you’ve never tried it before, this guide aims to clear up everything and show you how it can be used to take your betting bankroll to greater heights than ever before.
As a punter that has experience of traditional sportsbook betting, you’ll be used to backing outcomes. Whether it be predicting a team to win, a player to score, or a club to beat the Asian handicap doesn’t matter. Even if you bet on a market such as ‘both teams to score: no’, you’re hoping for an event to happen.
Conversely, lay means that you are betting on an event NOT to occur. Every bet is essentially a trade. When you choose to ‘back’, you are buying into a market. When you ‘lay’, however, you sell the market.
The best way to think about is to consider yourself as the bookmaker who is taking another punter’s bet. You will still be matching bets with other members as that is the basic principle that the exchange betting model revolves around. This time, however, you are on the opposite side of the deal than what you’d be used to from sportsbook betting.
Just remember that you want the market to lose when taking the ‘lay’ option, and you won’t go wrong with regards to selections. However, you need to ensure that
Lay betting isn’t a difficult idea to understand, at least in terms of the selections, but you also need to consider the mathematics when working out the potential risk and returns. The role reversal isn’t limited to your mindset regarding the outcome of an event, and you must remember these key points when you use the lay option.
Calculating your potential winnings is as easy as looking at the ‘backer’s’ stake. When wanting to know how much you could potentially lose, the equation is:
Backer’s Stake x Odds – Stake = Potential Liability
The easiest way to dissect those points is to put it into practice.
Arsenal are playing Spurs, and you think Tottenham will either win or draw. As such, you want to lay Arsenal as you don’t think they will win. Conversely, the person who matches your bet thinks Arsenal will win.
We already know that you’ll lose money if Arsenal win, but gain a profit if they fail to get the victory. But, how much do you stand to win or lose?
If the bet is matched at odds of 2.1 (11/10) and the ‘backer’ has staked £20, which is theoretically handed to you in your role as bookmaker, the following outcomes are possible.
Manchester City are heavy favourites to beat Swansea City. You offer the backer offs of 1.2 (1/5) and they stake £100. So they are essentially risking £100 in hopes of winning £20. To work out your situation, simply reverse it.
Newcastle United are away at Chelsea. DeAndre Yedlin’s chances of scoring are very slim, so you offer big odds in order to entice backers. A backer places £10 on at odds of 51.0 (50/1) in hopes of gaining a return of £510. From your perspective as the layer, you simply flip the script.
As is clearly visible from the three examples above, the contrast between potential winnings and liability can be huge depending on the market and the odds offered to backers. Ultimately, as long as the events you lay don’t happen, your bankroll will increase. Nonetheless, it’s important to build winning strategy.
Here are some of the best ways to generate steady returns from the concept of laying on the Premier League exchange markets, as well as other football events and other sporting occasions.
Little & Often: Many punters are happy to essentially throw a few pounds away in hopes of shooting for the big jackpot. If the odds are good enough, they may even back something as unlikely as Huddersfield Town to beat Manchester City by a 5-0 scoreline. The liabilities can be huge, but the likelihood is that you’ll have huge runs without losing a single trade. Besides, if things get a little worrying, you can always reduce potential losses during the match.
Small Losses, Big Payouts: While you don’t want to chase almost impossible bets, you can still use odds-on backers to boost your winnings. Arsenal are the only team to have ever gone a Premier League unbeaten, and even they drew 12 of 38 games. Picking a favourite and laying them until they fail to win is a tried and tested method, especially as the individual losses on each game will be relatively small. As long as the bankroll and staking plan is in place, this technique should produce positive results.
Beat The Momentum: Have you found out that a star player is unavailable for selection before it has become common knowledge? That may severely impact the chances of that team scoring, so you could lay them on a variety of markets. Once that information becomes public knowledge, others will start betting accordingly. As the odds on the back market increase, you’ll be able to trade out for a guaranteed profit regardless of the outcome.
Laying Goals: Another option, which plays on a similar idea of trading out revolves around laying the ‘Overs’ goal market. Statistics show that goals are more frequent in the latter stages of matches. Therefore, laying this market at the start of a game can work wonders. As the time ticks without a goal, the odds of backing the goals will increase. While it can be a risky tactic, this is one that many use to great effect. Embrace those philosophies in the second half of matches, and the odds will change even sooner.
Back To Lay: In addition to lay betting with a view to backing later on, you can try the opposite. Using the lay option to “green up” by guaranteeing profits no matter what happens can be highly rewarding. Similarly, when things don’t develop as expected, you’ll be able to minimise your losses. Both of those factors will lead to long-term productivity for high ROIs.
The idea of lay betting opens the door to a whole new world of betting opportunities, and helps you become a sports trader than a traditional bettor. However, irresponsible behaviour can lead to major problems. Keep the following five statements in mind, and you won’t go far wrong.
With those tips, a smart strategy, and strong staking plan, your hopes of winning are greater than ever!