This is a massive loophole that allows people to bet online on cricket without worrying about being persecuted for it. Now, coming to the question. A ‘back' bet is to bet on something to happen while a ‘lay' bet is to bet against a certain event. Let us take a simple example. 1xbet is offering a betting market on Virat Kohli to hit a ...
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. However, due to the structure of Back and Lay betting exchanges, you can make both back and lay bets. The meanings of back and lay bets are simple to understand. By pitting the customers against one another, a betting exchange gives you the option to lay the bet on an outcome not likely to happen.
Hint: Place your “back”-bet on the Draw quickly after the first goal as the odds are at their highest immediately after the goal. You can also keep your stake for the “lay”-bet small, so in case of a 0-0 Draw, your losses will be minimal.
Lay betting is an option on exchanges likeBetfair where bettors can play the bookmaker, offering oddsto sell a bet instead of to back a bet. It is one componentof matched betting, where punters both back and sell bets onthe same game to guarantee winning.
What Does Back and Lay Mean in Betting? Essentially, back and lay betting is a strand of matched betting. This is where betters take advantage of free bet deals to put money on one outcome, while they effectively ‘sell’ a bet on the other outcome via what is known as a betting exchange. Don’t worry too much about the nitty-gritty!
Our first tip is to select a market where the back and lay odds are close together. The tighter the odds, the more money you make. As a reminder, you’ll back a bet at the bookmaker and lay a bet at the betting exchange. This tip has a significant impact on the profitability of your matched betting in 2019 and beyond.
Free Online Back/Lay Betting Calculator. Our free online Back/Lay betting calculator calculates the correct Stakes for backing and laying the same selection for the same Net Profit, whether the selection wins or loses. This is commonly known as trading out, greening up or Back/Lay arbitrage. To help you understood how the Net Profit is obtained, the calculator breaks it down into it Back Bet Profit, Lay Bet Profit and the applicable Commission Paid.
Answer (1 of 4): It’s very simple. When you back your bet, it means that something will happen and if you lay your back it means that something will not happen.