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Traditional betting deals with wagering on which contestant will win the game. The punter makes his bet at the bookmaker’s odds and if he wins he receives his original stake plus what ever the odds were. This is also known as “back betting” since the bettor is “backing” one team over another.
Lay betting, in contrast, is a relatively new concept through which the punter bets against a team winning the match. This really is generally done through betting exchanges and the person making the lay bet essentially becomes their own bookmaker, setting their own odds.
Practically all lay bets are even money bets. Therefore if punter wins he stands to win two times around his original wager, or his original wager times two. Alternatively, if he loses the bet, he must pay the backer the original wager plus the odds. This means more frequently than not his potential winnings are less than his potential liability.
For example, if Person A wants lay bet Ł10 against XYZ team, he will make the offer on a betting exchange. Person B is certain that XYZ will win, so he matches the bet; matching Person A’s Ł10 wager. As included in the lay bet, Person A set XYZ’s odds of winning the game at 5. So Person A, the one making the lay bet, must put up not only his Ł10 wager, fantastic online casino football but in addition his potential liability (the real difference between his original bet and also the odds). In this particular instance the surety is yet another Ł40 (odds of 5 x Ł10 = Ł50 – the original bet of Ł10 = Ł40). If XYZ loses, Person A gets his original Ł10 back, his surety of Ł40, plus Person B’s Ł10. If XYZ wins even though, then Person B not only gets his original Ł10 back, but he also wins the odds, or perhaps the surety put up by Person A, the Ł40.
The main question many individuals ask is: should the potential winnings will almost always be less than the potential losses, why would anyone do this? The main reason is really because it allows the lay bettor to set his own odds. Of-course the odds set through the lay bettor have to be reasonable to be able to attract a back bettor to match the bet. Further, since all the exchanges require a lay bettor to deposit both his own wager plus the whole quantity of the potential liability before the bet is offered there’s no possibility of betting beyond his immediate means.
The capability to set the odds is by far the primary draw of lay betting, so if a person has a system of calculating the odds efficiently, that person can essentially benefit from the exact same system that basic bookmakers do. Further, since soccer teams always have hardcore fans that always bet for their own team, as long as lay bettor calculates his odds properly and reasonably, there is a great chance of finding a back bettor that is betting more with his heart than with his head. If punter knows how you can use lay betting, it can be an extremely profitable undertaking.
