How to place back bet on Orbit Exchange? December 5, 2022 – Posted in: Featured Articles

How to Lay Bet


In retrospect

Every wager has two possible outcomes: a back bet (a wager on the outcome to occur) and a lay wager (a wager on the event not to occur) (a lay bet). The lay side is typically represented by bookmakers, who offer their clients odds that they are willing to lay. However, clients can back and lay themselves on the Exchange and “match” bets with other customers, not the bookmaker. You can see how the liability/profit on lay bets works with our lay bet calculator at the conclusion of the post.

How does it function?

Back betting refers to betting on an event to occur, such as a horse, team, or player to win.

Lay betting refers to a wager on something not taking place. If you wager on a football team to lose, for instance, or if the game ends in a draw, your bet will be settled as a winner, making two outcomes work in your favor.

When you lay a horse in a race, you win if any other horse finishes first. You lose and must pay the backer his earnings, which might be significantly more than the stake, if the horse you bet against wins. Therefore, exercise caution while deciding how much to lay.

Explaining liability

The amount you might lose in the worst-case scenario is your “responsibility.” Your stake is effectively equal to your reward on a victory (minus commission).

As liability is lessened, many people favor laying at odds. For instance, if you stake £10 on a wager at 1.5, you are responsible for £5 and will gain £10 if the wager wins.

However, if you wager £10 on a 3.5, you are putting £25 at risk for the possibility to win £10.

Make sure to keep track of how much you are responsible for, and pay close attention to where you place the decimal point. If you wish to place a wager at 4.2, be sure it is just that and not 42; otherwise, should your choice win, you’ll lose money. Only the amount in your account and the best odds are permitted by Betfair.

The Straight Talk about Back and Lay Betting

Uncertain of what is meant when back and lay betting is mentioned? Do you want to know how to back and lay bet and when it is preferable to do so? You’ve arrived at the proper location.

Similar to real money casino online, sports betting is viewed as a game of chance, but it also requires a significant level of preparation. You can make smarter betting judgments to increase your winnings if you have the correct information, perspective, and insights. One such tactic you can use to improve your odds when placing a sports bet is back and lay betting. Read on for an explanation of back and lay betting.

What is betting on the back and lay?

Let’s start by addressing the fundamental question of what back and lay betting are. The answer is actually twofold: first, there is back betting, and second, there is lay betting.

Returning Bets

And what exactly is back betting? Backing a horse involves placing a particular amount of money on it. Bookmakers publish the odds for many horses, and you back one of them. Let’s imagine, for illustration purposes, that you wager $10 on a horse with odds of 4.0 to win. If the horse wins, your back bet was a success, and you’ll get paid out $10 * 4.0 = $40.

You will, however, forfeit your $10 and receive nothing back if the horse loses (even if it comes in second). Simple back betting would be this. You’re giving a horse “backing.”

The most popular wager type with bookmakers is back betting, and if you’ve ever placed a wager on a horse, you’ve probably engaged in back betting without ever realizing it. A back bet is essentially placing money on your horse to win.

Laying Bets

What is laying a wager?

The more recent and slightly more difficult kind of betting is called lay betting. With the introduction of betting exchange systems, where bettors compete against one another rather than a single bookmaker, lay betting gained popularity.

A lay bet is kind of the polar opposite of a back bet. A lay bet is a wager that a specific horse won’t win, as opposed to a back bet where you are essentially saying “this horse will win.” As a result, when you lay a horse, you are betting money that it will lose.

Lay bets are less popular and have only recently entered the scene. However, many bettors choose to lay bets rather than back bets since it may be simpler to choose one horse from a group of horses to finish second or third than to choose one horse from a group of horses to win.

Lay bets are more uncommon than back bets, yet they are nonetheless essential to some betting systems, including matched betting.

To highlight the crucial distinction between a back bet and lay bet, below is a very straightforward example:

  • I placed a $10 back bet on Liverpool to win the English Premier League this year.
  • I laid a $10 wager saying Liverpool won’t prevail in the English Premier League this year.

You might have superior paying odds in either of these types of bets, depending on the particular wager. The odds won’t be as good if you back a favorite, but if you lay a clear favorite, the odds could be very good. In the same way, you’ll obtain good paying odds if you back an underdog and vice versa.

Back Bet/ Lay Bet FAQs

  • What are the two possible bets in a wager? 

A bet on the outcome to happen (a back bet) and a bet on the event not happening (a lay bet) (a lay bet).

  • What are the liabilities in a back bet? 

Your “responsibility” is the maximum amount you might lose in the worst-case scenario. If you win, your investment is effectively equal to your payout (minus commission).

  • What is Lay Betting? 

The polar opposite of a back bet is a lay bet. In contrast to a back bet, when you are effectively declaring “this horse will win,” a lay bet is a gamble that a specific horse won’t win. As a result, laying a horse is placing a wager that it will lose.