Back And Lay Betting Guide
There are literally hundreds of different options for betting nowadays in online bookmakers. And while some of the best, like single bets, or accumulators are quite simple to be understood, on the other hand, there are bets like arbitrage and back and lay betting, which is a little bit more difficult to be learned by players. And as our major purpose is to help you become a master in online betting, we from the team of betinception.com, are going to give you a full guide about how to do one of the most profitable and exciting bets, back and lay bets, so that you will no longer think of what they are, and also how they work. You will no longer think about what a betting exchange is, and how to use it properly to always win.
What is Betting Exchange?
Before jumping to the actual back and lay betting, you first have to know what betting exchange is, simply because this is the place you can place those bets.
Betting Exchange is simply a marketplace, which allows you to act like a bookmaker, you can buy (Back Betting) and sell (Lay Betting). In simple words, you can bet for a certain outcome, also against a certain outcome.
Let’s say that you want to bet on football, but you want to bet that a certain team will not win. So that, you have to use the betting exchange and place a lay bet. The standard way for betting is as follows:
The player, backs bets, whereas the bookmaker lays, but because of the betting exchange you can reverse the roles and you can both lay and back bets.
The tricky and actually the part that makes the betting exchange more profitable than covering all of the possible outcomes for an event in the bookie comes from the fact that in the betting exchange, rather than playing against the house, you will bet against other players. So that, the odds are quite higher, compared to the overall odds, which you will get from covering all outcomes.
Available Betting Exchange in Online Bookmakers
You are already familiar that in order to benefit from being able to place lay and back bets, you will have to join an online bookmaker, which has a betting exchange. Luckily, as this type of betting is growing more and more popular among players globally, more and more bookies are offering a betting exchange. So that, now we will give you some more details about the top online bookmakers that offer betting exchange:
Of course, the first online bookmaker that offers a betting exchange is 1xBet. 1xBet is one of the leading global online bookmakers, and apart from its unique sports betting and casino options, the bookie also offers a betting exchange. The biggest advantage of 1xBet’s betting exchange is that the odds are very high, even for a betting exchange. And also, you can back and lay on almost every single game. 1xBet Betting Exchange has over a million visits per day,
Betfair is the second online bookmaker that offers a betting exchange. Actually, the betting exchange of Betfair is one of the oldest and it really knows how to satisfy your needs. So that, it is worth giving a try,
1xBit is the cryptocurrency equivalent of 1xBet. And of course, in 1xBit there is also a betting exchange, which gives you many opportunities for backing and laying,
And finally, an online bookie, which is only a few years old, BetWinner, offers a very exciting betting exchange, from which you can win big, and of course, fulfill your needs.
What is Back Bet in Betting Exchange?
The first option for betting in Betting Exchange is back betting. Well, Back Betting is the widely spread option for betting, where you put your money for a team/ player/ horse to win. Back Bet is just the ordinary bet that you already placed in any online bookmaker. You just stake for something to happen and then if you are correct you take the profits.
Example For Placing Back Bet
Placing a back bet in the betting exchange is as simple as placing a regular bet in the sports book. You just have to pick the market and then it will appear on your bet slip, where you are allowed to type how much you want to bet, and afterward, you will only need to wait for it to be successful, in order to get your money.
Usually, for the games in the betting exchange, you will notice that there are two sections below any market, for example, if you have a football game, where the classical 1 x 2 market is available, you will notice that there are 2 options for betting below each outcome. This is because you can choose if you want to back or lay a bet.
So that, after you choose to back a bet, which usually is in blue color, you only have to click on it, type how much you want to bet and you are done.
How to do the calculations for your Back Bet?
Doing the maths for your bets in the betting exchange is quite easy, even when you place a certain bet, you will immediately see your potential profits. But, it is always better to know how to do it by yourself, which is quite important for playing in the betting exchange, simply because you have to do the correct calculations in order to see how much profits you can get from a certain bet.
So, let’s say that you love betting on horse races. And you find a perfect race, where you think that a certain horse will win the race, and the odds are 2.00. So that, when you back this bet and you want to put 50 dollars on it, your potential return will bet:
- 00 * 50 = 100 dollars.
What is Lay Bet in Betting Exchange?
Lay Betting is the complete opposite of Back Betting. On the other side for back betting you stake for a certain outcome to happen, lay bets are placed to indicate that something will not happen. Lay bets are the reason why betting exchanges are so popular. Those bets allow you to put money for something to not happen. And the best way to help you understand this is to give you an example:
Let’s take the same example from above. If you want to bet for a horse to win, you simply have to back it. Well, if you think that the favored horse will not win, you are free to bet for that in the betting exchange. To do that, you will only need to lay it, which means that you bet that this exact horse will not win the race.
How to place a Lay bet in the Betting Exchange?
Placing a Lay Bet in the Betting Exchange is the same as placing a back bet. The two options below each market that we mentioned above, one of which is for back betting, well the other one is for lay betting, usually presented in pink or red color, will be the market on which you have to click in order to place a lay bet. After you did that, you are ready to proceed with typing how much you want to bet and place it.
Lay bets are very efficient when it comes to securing your profits. For example, if you are a football fan, and you love long-term bets, you can do the following:
Let’s say that you think that Real Madrid will win the Primera Division this season, for which the odds will not be quite high, but if you lay a bet that Real Madrid will not win the Premier League, you have a guaranteed profit, and in case of your lay bet becoming real, you will win a very good amount of money.
This type of securing your bet is called arbitrage betting, where you simply secure your bet, by covering all the possible outcomes for a certain bet. That can be done by using the betting exchange or just betting for all the possible outcomes in different bookies. For more details about how arbitrage betting works, you can check our in-depth Arbitrage betting guide.
How to do the calculations?
Calculating your profits for Lay Bets is again quite similar to calculations for back betting. Again to check how much you can win, you have to multiply.
Let’s say that you want to bet again on the favored horse from the example above. As long as the horse is favored, the odds against it will be quite high, let’s say 7.50. So, if you want to put 100 dollars for that horse to not win, you can do the calculations for the potential profits in the following way:
- 50 * 100 = 750
Which are the Best Sports for Betting on the Betting Exchange?
Many Online Bookmakers are offering Betting exchanges, and in most of them you are allowed to back and lay bets on many different sports, so that here comes the question “Which is the best sport for betting on the betting exchange?”, but unfortunately, there is not a specific answer for it, simply because the answer may vary between different players.
The main thing that you have to ask yourself before starting to bet on the betting exchange, is “For which Sport I am passionate about?”. Once you answer that, you will find the best sport for betting exchange. You have to bet on a sport that you are passionate about, and for which you know a lot about, simply because that can help you do your research better and end up winning more bets. And finally, you need to check if the sport on which you want to bet is available in your bookie’s betting exchange. But, usually, most of the sports are available at the betting exchanges, sports like:
- Horse Races,
- Table Tennis,
- Ice Hockey,
Are there any fees that apply for betting on the Betting Exchange?
The only disadvantage of playing in betting exchange is that some fees apply to your bets. But, luckily those fees are small, and only apply for won bets, and not only that but on the net profit of each bet. So that, you will play, and you will not need to pay any fees for lost bets.
In different bookmakers, fees are different, but they are usually around 5%, which overall is not that much. For example, at Betfair’s betting exchange, the fees are exactly 5% of all of your net profits. Let’s see an example:
If you place a bet on the betting exchange. Let’s say that you are a part of Betfair. And the event you want to stake on has odds of 5.00 and you bet 200 dollars, you will get 1 000 dollars, but the net profit will be 800 dollars so that the fee will be only on that 800 dollars.
And as the fee at Betfair’s betting exchange is just 5%, the fee of 800 dollars will be:
800 * 5% = 40 dollars
Place your bets
Frequently Asked Questions about Back & Lay
🤔Q: What is the function of betting exchange?
A: Betting Exchange is simply a marketplace, which gives you the chance for placing not only back but lay bets as well, basically you can be in the role of a bookmaker. You can not only buy (back) bets that appear to be the common way of betting. But you can also sell (lay) bets.
🤔Q: Are there any online bookmakers that offer a betting exchange?
A: Many of the available online bookmakers nowadays have a betting exchange. If you are searching for betting exchange, you can try bookies like 1xBet, Betfair, BetWinner, and 1xBit if you are using cryptocurrencies.
🤔Q: What is back betting?
A: Back betting is simply the standard way of betting, you simply buy bets. Back betting is betting on a certain outcome to happen, which means that if you bet for a certain team to win, you only win the bet if the team won the game.
🤔Q: What is a lay bet?
A: Lay Bet is the complete opposite of a back bet. A Lay bet, also known as selling a bet, is betting for an exact outcome to not happen. Whereas for the back bet you stake for a team/ player to win, lay bet allows you to bet for a determined outcome to not happen.
🤔Q: How profitable it is to stake on a betting exchange?
A: Playing on the Betting Exchange can be very profitable, but only if you know how to do it properly. Many professional gamblers use betting exchange for arbitrage betting, which is simply securing bets, by covering all the possible outcomes, which is quite easy if you use a betting exchange.
🤔Q: How can I calculate my profits from lay bets?
A: Lay bets can be easily calculated by using some simple formulas, or use the even easier method find a lay betting calculator and let it do the work for you.
In Summary about Back And Lay Betting
Back and Lay Betting has become quite popular over the past few years. The whole idea of back and lay betting is to be able to act as a bookmaker. For back bets, you can bet traditionally, where lay bets allow you to act like a bookmaker. In order to be able to back and lay bets, you will need to become a part of an online bookmaker that has a betting exchange in it.
If you go outside in the global community of online bookies, you will find that many of them have a betting exchange section in them, bookies like 1xBet, BetWinner, Betfair, and of course for cryptocurrency lovers, 1xBit. Betting exchanges have become increasingly popular especially through players who love arbitrage betting, simply because betting for every single possible outcome is quite easier.