For several years now, after the big boom in horse racing, gambling has covered several sporting disciplines. With a computer or smartphone, you now have the chance to win money by making a Back or Lay on sports bets. So what are back and lay bets? And how do you win them? Here are some useful answers in this article.
Back and Lay bets are terms used in the world of online sports betting. A "Back" bet is the traditional type of bet where you bet on a particular event to happen. For example, if you bet on a football team to win, that's a "Back" bet. If the team wins, you win your bet, otherwise you lose your stake.
On the other hand, a "Lay" bet is the opposite of a "Back" bet. With a "Lay" bet, you are betting against a particular event on the basis that it will not happen. For example, if you bet against a football team to win, this is a "Lay" bet. If the team loses or draws, you win your bet, otherwise you lose your stake.
Back and Lay betting is often used on sports betting exchange sites, where punters can choose to be either the "Back" or the "Lay" punter for the same event. This allows punters to play the role of the bookmaker and offer odds and bets to other punters.
All you need to do is register with a dedicated betting exchange site such as betfair, OrbitX or Matchbook. Unfortunately these operators do not accept all players and impose betting limits. In any case, it is preferable to join a trusted intermediary that will allow you to register and bet on odds trading markets at a lower cost.
This intermediary is the sports betting broker:
Back and Lay bets can be used in a variety of situations. They can be used when you are sure that an event is going to happen. For example, if you are convinced that a football team is going to win a match, you can place a Back bet on that team to win. If the team wins, you win your bet.
Similarly, Lay bets can be used when you think an event won't happen. For example, if you are convinced that a football team is not going to win a match, you can place a Lay bet against that team. If the team loses or draws, you win your bet.
On the other hand, Back bets can be used to get better odds on an event. For example, if you think a football team has a chance of winning but the odds are low, you can place a Back bet before the match starts to get better odds. If the team wins, you win your bet with better odds.
Finally, Lay bets can be used to protect an existing Back bet. For example, if you've already placed a Back bet on a football team to win a match, you can also place a Lay bet against that team to minimise your losses if the team doesn't win.
The ultimate quest of any bettor is to win every prediction in order to maximise your winnings. To achieve this, there is no foolproof method of succeeding with Back and Lay bets, as they always involve a degree of risk.
Before placing a bet, make sure you understand the rules and stakes of the event you're betting on. Analyse past performances of teams or players, weather conditions, injuries and any other factors that could affect the outcome of the event.
Choose reliable sports betting sites with a reputation for security, transparency and ease of use. Odds vary from one prediction access site to another, so make sure you compare the odds before placing a bet. The best odds can sometimes be found on lesser-known sites or by using odds comparison tools.
There are several betting strategies you can use, such as the fixed bet system, the positive progression system or the combination betting system. Research these strategies to determine which best suits your betting style.
Sports betting often requires patience and concentration to succeed. Avoid making impulsive or emotional decisions and wait for the best betting opportunities.
Finally, it is important to remember that sports betting can involve risks and that it is possible to lose money. Therefore, it is essential to bet responsibly and not to bet more than you can afford to lose.