Lay betting has grown immensely in recent years with horse race fans interested in making money from supporting losing horses with betting exchanges. They differ from a normal bookmaker who will not take bets on horses to lose.
What Is Lay Betting?
This is a bet where you don’t bet on a specific outcome of a race or a game but you bet against it. In simple terms, in this bet you will hold the position of a bookmaker. If you are not happy with the odds offered, you can offer a bet to other punters and you decide at what odds you want to do so.
In football lay betting is a new and increasingly profitable option for bettors to take advantage of. Many analysts now provide football betting tips advising to back against a team from winning. In some situations backing against the draws as they believe either side will win instead of the match ending all square.
Lay Betting Explained
Lay betting is common on betting exchanges and works when two bettors have opposing views. When odds are settled this then becomes a matched bet. The odds therefore that the bettors are willing to gamble on are usually much higher that traditional bookmakers. Betting exchanges notoriously have better odds.
One of the advantages of lay betting is the potential to guarantee a profit through back lay sports arbitrage. This involves gambling on both outcomes (backing and laying) so that your total liability is less than your total return. This can occur as folks have different opinions and thus odds on an outcome. Difference in odds may also be brought about by a number of factors such as suspensions, injuries, team news, and the starting eleven.
Lay betting football can also be used as part of a long-term betting technique.
Arsenal traditionally finish the Premier League season strongly. They usually achieve the top four position. Back Arsenal to achieve a top four position finish while their odds are higher, when they are in the top ten of the Premier League table. This normally happens early in the season. Then lay Arsenal when they have climbed up the table and are more certain of a top four finish. This should also guarantee bettors a profit.
Lay betting can similarly work well in play betting markets.
Having backed Manchester City prior to kick off in the match against Burnley in the 2014/2015 Premier League season. Manchester City found themselves 2-0 up at home in Etihad stadium. Laying the Manchester City win might and could have assured several bettors a guaranteed profit, with the right stake levels. Anything other than a Manchester City win seemed very unlikely. Burney famously come back and drew the match 2-2.
Several sportsbooks now offer ‘Double Chance’ and ‘Draw No Bet’ markets as an alternative to lay betting.
Another reason why lay betting has become so popular is because it offers greater flexibility than traditional horse race betting or football betting. Sometimes picking a horse to win can be more difficult than picking a horse that won’t win. And of course, it can be very profitable; you get much better odds laying your favourite horse than backing it to win. And bookmakers, as we all know, make their proceeds from losers especially a losing favourite.
Lay Betting Strategies
While there is always a risk factor involved in betting, there are a number of techniques that you can use to reduce the risk that you are exposed to. You can even guarantee yourself some profits.
One such technique is back-to-lay betting. This is usually an in play betting technique (although it can be used pre-event if the opportunity presents itself). It involves backing a horse or team at a relatively high price, then, at a later time, laying the same horse or team (i.e. wagering that it will not happen). This will assure yourself a return if the market moves in the right direction. Even if it doesn’t, you can still lay your horse or team to reduce your total loss on the market.
Evidently, this is a strategy designed for wagering on the exchanges. Bookmakers hardly offer bettors the opportunity of laying a horse or team because this is the role that the bookmakers themselves play. However, the exchanges depend on individuals betting against each other by backing a horse or team and laying a horse or team at varying odds.