Back and lay betting is a form of sports betting that can be done at betting exchanges. It is different from your typical sports bet, and it is something that you can do to make a profit. Like typical sports betting, back and lay betting is increasing in popularity, as it is typical to find it at betting exchanges such as Betfair. In this article we will explain that type of betting and how the future looks for it.
Breaking it Down
Here is back and lay meaning explained further. When you make a traditional bet the sportsbook will accept the back bets from you. You are backing the outcome in a sports wager and if you win the sportsbook will then pay you out. However, betting exchanges give you the chance to either back or lay. Besides being able to back a bet, you can assume the role of the sportsbook and lay the wager. Basically, you win the lay bet if the bettor loses, so you are betting for something not to happen. It is pretty simple and in other words the back is for the bettor and the Lay is for the sportsbook.
Unlike traditional betting which has fixed odds for back bets, they are flexible and created by the market demand while the odds for lay bets are determined by the backers.
| Traditional Bet | Back Bet | Lay Bet |
| Betting on the winner | Betting on an outcome to take place | Betting against an outcome to take place |
| Odds that are fixed | Market demand created changing odds | Back bettors creating the odds |
| Win the bet or lose | Win the bet or lose | Win if your selection loses and pay out if the selection loses |
Two Popular Strategies
Two popular strategies for Back and lay betting are back-to-lay and lay-to-back.
- Back-to-lay – This strategy is where the person making the bet will make a wager at higher odds and then make the same bet at a lower price at another betting exchange.
- Lay-to-back – In this strategy the bettor will make a lay bet when they believe the odds are low and the likeness of the final result is higher. The bettor can also make a back bet when they believe the odds are on the high side, and then they will go down when other bettors come to the realization the odds should go down.
Pros and Cons of Back and Lay Betting
Pros
- Pretty easy to see the biggest pro is better odds. For back and lay betting you must do so at a betting exchange rather than a traditional sportsbook. The odds at a sportsbook will have a profit margin included. On the other side of the coin, at a betting exchange they will only charge you a commission and that is a certain percentage and less than a profit margin at a sportsbook. Because of better odds you can get a higher profit.
- You can set the odds yourself. Lay and back involves two people betting not one better and a sportsbook. Because of this the lay bettor can set their own odds, as they are taking the role of the sportsbook.
- There are tools on the internet that can help you come up with the potential profits. One a separate note these tools are key for bettors new back and lay betting, as you do not need to be a betting expert.
Cons
- Back and lay betting is harder to understand than typical sports betting with a sportsbook. While there are tools to help, which is mentioned just above, it is simply a more complicated form of sports betting with all that goes into it.
- High risk, high reward. In back and lay bets the earning potential can be higher but there is also a higher risk that is involved.
- One con is that there are tons of sportsbooks out there while there are not nearly as many betting exchanges.
- It is not always easy to make a back and lay bet. The odds are always changing, so making a bet is more difficult to do.
The Future of Back and Lay Betting
It is not hard to see why more betting exchanges are popping up on the internet. It is a popular form of betting and even more and more traditional sportsbooks are offering it as a service such as Betfair and Ladbrokes.
Back and Lay is kind of grouped with the increasing popularity of sports betting as a whole. We all have seen the sports betting industry grow in popularity in the last several years. In delving deeper it was not long ago when in-play (live betting) was in its infancy with not many sportsbooks offering it. Nowadays, it is hard to find a reputable online sportsbook that does not offer in-play betting. Back and lay betting is an interesting and unique form of sports betting that has a bright future.
