Lay bet for football betting
How does it work to place a lay-bet at a betting exchange like betfair?
Explanation of the term LAY-BET:
Lay bet is the exact contrary of the well known back-bet bookmakers normally offer.
To LAY a team, horse, result or any other outcome means to bet AGAINST that selection to WIN. While to BACK means to bet ON a selection to WIN.
The screenshot down shows the following:
- Lay bets (bet against something) are shown in PINK coloured column - marked in RED box
- Back bets (bet On someting) are shown in BLUE coloured column
- Click on the LAY-bet of your choice (e.g. bet AGAINST Chelsea to win @ back-odd of 2.06)
- Your personal betting slip will show your choice (see at the right side of the screen)
- Enter your stake and submit your bet (potential porfit appears at right side)
- you are able to choose your OWN odd at betting exchanges - here it is better to lower the odd shown by clicking on the arrows down from Backer's odds (see betting slip at right)
Explanation of Screen:
>> RED Box = 1x2 all Lay bets
>> bet AGAINST Chelsea to win - click odd 2.06
>> Insert stake of 10 (see right) - your potential loss is 10.60
>> potential Profit is your stake - here 10
>> in case Chelsea does NOT win your profit is 10 (no matter if ManU wins or they draw)
ATTENTION:
Placing a single bet
- Laying a bet makes only sense at odds NEAR 1.00 (e.g. at 1.2) - as laying odds at 2.0 or more does not pay off, as you can see in screen avove
- good strategy would be to lay a draw at football at e.g. 88 minutes @ odd 1.2 - f.ex stake 10 (max loss is stake of 2 - if one team scores profit would be 10)
Hedge a bet - your 2nd bet
- Laying a back bet (your 1st bet placed before)
- Precondition to make a profit is that Lay-bet odd is smaller that backed odd - more information see link down...
Find the opposite here - BACK bet
Combine a back and lay bet hedging your bets
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