Lay and back are two fundamental concepts in the world of betting. By understanding and employing these strategies effectively, you can significantly enhance your chances of success.
Lay (Sell) | Back (Buy) |
---|---|
You're selling odds against an outcome happening | You're buying odds on an outcome happening |
You profit if the outcome doesn't happen | You profit if the outcome happens |
Example: You lay Arsenal to win at 2.0 | Example: You back Arsenal to win at 2.0 |
Imagine a football match between Arsenal and Manchester City, where Arsenal is the favorite at odds of 2.0.
Matched Betting: A risk-free technique where you place both a lay and a back bet on the same outcome. You profit from the difference in odds offered by different bookmakers.
Arbitrage Betting: Similar to matched betting, but involves placing lay and back bets on different outcomes of the same event. You profit from small differences in odds.
Betfair Exchange: A platform where you can lay and back bets without the need for a bookmaker.
Trading Bots: Software programs that automate the process of placing lay and back bets based on predetermined criteria.
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