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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 really is also referred to as “back betting” because the bettor is “backing” one team over another.
Lay betting, alternatively, is a relatively new concept by which the punter bets against a team winning the match. This really is generally done through betting exchanges and also the person making the lay bet essentially becomes their own bookmaker, setting their very own odds.
Practically all lay bets are even money bets. Therefore if punter wins he stands to win twice around his original wager, or his original wager times two. On the contrary, if he loses the bet, he must pay the backer the original wager plus the odds. Therefore more frequently than not his potential winnings are less than his potential liability.
By way of example, if Person A wants lay bet Ł10 against XYZ team, he is likely to make the offer on a betting exchange. Person B is sure that XYZ will win, so he matches the bet; matching Person A’s Ł10 wager. As a division of the lay bet, Person A set XYZ’s odds of winning the game at 5. So Person A, the one making the lay bet, has to put up not only his Ł10 wager, but in addition his potential liability (the real difference between his original bet as well as the odds). In this instance the surety is 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 however, then Person B not just 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 lots of individuals ask is: in the event the potential winnings are always less than the potential losses, why would anyone do this? The primary reason is mainly because it allows the lay bettor to set his own odds. Of-course the odds set by the lay bettor have to be reasonable so that you can attract a back bettor to match the bet. Further, since all of the exchanges require a lay bettor to deposit both his own wager plus the entire amount of the potential liability prior to the bet will be offered there is absolutely 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 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 online soccer gambling chance of finding a back bettor that’s betting more with his heart than with his head. If punter knows just how to use lay betting, it may be an incredibly profitable undertaking.
