Back and lay betting enjoys significant popularity among experienced bettors who are looking for a possibility to increase their winnings. These types of bets deal with so-called betting exchange which gives gamblers a chance to take the role of a bookmaker and manage the odds. In this review, you will find the answer to the question “what is back and lay in betting?” and how to apply such wagering to win more.
What Is Back Lay Betting Meaning
A betting exchange is an online gambling platform for bettors who can set the conditions themselves. There is no margin on the exchange and players are allowed to place bets at the desired odds which are more profitable than those provided by the bookmakers. So, back and lay betting is about making wagers on certain outcomes to happen (back) or not to happen (lay).
Lay And Back Betting Explained
Below you will uncover lay and back betting explained in detail which will help you to grasp the main point of it.
This is considered to be a traditional betting format where you simply make bets on a certain event or outcome to happen. For example, if you think that a particular cricket team is going to win a match, then you place a bet on it. If it wins, then your bet is successful, but if it loses or there is a draw, then you lose your bet. The odds for back bets are always marked in blue. So, by choosing odds in the blue column, you simply agree with the outcome and bet “For” something to happen. Therefore, you sort of “Back” the suggestion.
This is a format of betting when a bettor makes bets against a particular event or outcome to happen. It means that he/she assumes the role of a bookie, offers the odds calculated by him for a certain event, and puts money on the fact that it will not happen. So, the bettors try to guess which event will not happen in the match. By the way, lay bets may not only concern match-winners but also totals correct scores and individual players’ statistics. The column with odds for lay betting is highlighted in pink. If another player is not satisfied with the odds offered there, he/she may offer his/her own odds.
For example, if you bet on a specific horse in the horse races, then it means that you think that it will lose, and all other participants will perform better. So, for your bet to win, your horse should lose in the race. If it happens to win, then you will lose your bet.
What is especially popular in such a form of betting is laying a draw. It indicates that you believe that there will be no draw in the match and for your prediction to be successful, either one or another team must win. You may also make a back bet on a draw which will mean that you think that a game will end in a tie, as simple as that.
Where To Use Back And Lay Betting
Here is explained where lay and back betting may be applied in terms of sports disciplines.
Soccer is a kind of sport that offers unlimited betting possibilities for bettors. Lay and back bets are among those options that they may choose. There are a lot of football matches that take place all the time and many betting markets are proposed for each event. That is why bettors will be able to make lay and back bets on the outcome of the match, both teams to score, the next goal, over/under 1.5 goals, etc.
What Is Back And Lay In Cricket Betting
Cricket is also one of those disciplines in which lay and back bets are proposed. There are a great number of tournaments that take place throughout the year. Therefore, back and lay bets are also possible with this sports discipline. Back and lay meaning in cricket betting is very much the same as with other sports disciplines. So, bettors may place bets on match winner, first inning, total runs, etc. The betting odds on the exchange usually vary from 1.0 to even 13.0.
Here is an example that will illustrate how back and lay bets work in cricket betting. Let’s imagine that you place 5 USD with the odds 2.0 on Chennai Super Kings to win the Indian Premier League (back bet) or not to win (lay bet). If you win, you will get 10 USD, 5 USD will be the amount of your stake and another 5 USD will be the winning sum. However, in case you lose, 5 USD will be the amount of money you owe the bookmaker for your lost bet.
Back and lay bets are popular in tennis. In this kind of sport, bettors usually make bets on the favorite of the match. It is recommended to make lay and back bets at the beginning of the match when the favorite has not yet had time to take a break.
Lay bets are also common in tennis because they give a chance to get a higher profit with low risks. It is highly recommended to lay a bet on the favorite in the first set after he made a break.
Back and lay form of betting is also popular in horse racing. There are often races in which it is difficult to predict the outcome. These are, for example, sprints, juvenile races, and early-season races. In such a case, bettors had better consider lay bets.
Back And Lay Examples
Here are examples that will demonstrate what lay and back is in betting so that it would be easier for you to understand it. Let’s say you have a Premier League soccer match Arsenal vs. Crystal Palace. If you think that Arsenal will win, then you need to select the blue field in the column under the number one. However, if you pick the red field in the second column, then you bet on the fact that Crystal Palace will not lose. In this case, a draw or a victory of the guests will bring you a reward.
Here is another example: you have a Serie A match in which Juventus and Milan will play. You have analyzed the upcoming match and made a bet against the victory of Juventus. This means that the bet will pass if there is a draw or a victory for Milan. If the size of your lay bet against Juventus is 10 USD and the odds are 1.50, then if your prediction is correct, you will win 10 USD and if not, then you will lose 15 USD.
What Odds Are On Back And Lay
While discussing the meaning of back and lay in betting, the crucial thing to mention is the odds. As far as the back bets are considered, they are usually low. It means that you will not be able to win a lot out of this format of betting. However, with lay bets, the situation is completely different because the proposed odds here are significantly higher which allows bettors to win more money.
It is recommended to look for those betting markets with odds for back and lay bets that are close to each other because then you will have a chance to make a higher profit. For example, if you have placed a back bet with the odds 3.20, then you should seek odds for the lay bet in a similar range so that they could be around 3.30.
Pros And Cons Of Back And Lay Betting
- higher odds;
- possibility to obtain higher profit;
- a chance to set odds on your own;
- ability to calculate profit with special tools;
- a wide variety of sports disciplines for betting.
- are quite complicated for beginners;
- constantly changing odds which makes it difficult to submit a bet sometimes.
Lay and back bets are indeed a nice form of betting which provides bettors with a unique chance to win more money thanks to higher odds. The key to becoming successful in such a format of betting is to be able to perform a detailed analysis of the match and its participants. In our guide, we presented what back and lay is in betting together with all its nuances and benefits.
Frequently Asked Questions
What Is Back And Lay In Cricket Betting?
Back bets are placed when you want to make a forecast that your favorite cricket team will win the match whereas lay bets are made when you want to wager against a team winning the match.
How To Use Back And Lay In Football?
If there is a clear favorite in the match, then you had better place a back bet. However, if it is hard to determine a leader, then lay bets will be more suitable.
What Does Back And Lay Mean In Betting?
It is a format of betting in which you either bet that a specific event will take place or not during the match.