Back and lay in cricket betting websites
In this instance, because there are only two horses, this would most likely require Altior to win although it also includes the possibility that neither horse completes the race and there is no winner. However, you also have the option not just to lay off your potential losses on Cyrname, but instead to choose to try to win money on Altior. In other words, not only can you lock in a profit if the odds move in your favour, you can also change your mind and go for a still-bigger win. We can illustrate when you might want to do this with our example.
You could lay the horse pre-race — ensuring a comparatively long lay price — and if the prediction is correct and it settles at the rear, then back it in-running at what would likely be a longer price than its BSP was, to lock in profit either way. So, although which one you choose depends on what you think will happen during a race, and how the market will react, you need to be confident in your selections.
The principle is the same; how much you want to wager on either outcome is up to you. You can either play shrewd and hedge your bets completely for small profits all-round, or if you have a strong opinion on which outcome will prevail, alter your book so that you stand to win more if you get it right. Using back-to-lay in multi-runner markets The two-runner market is by far the simplest way of securing a green book, as bettors only have to worry about two outcomes.
In a nutshell, this is the reason why the Exchange gives you the best prices. The main difference with a multi-runner race is that given the increased number of outcomes, the more you must split your potential winnings between your book, in order to cover all eventualities. Again though — how heavily weighted your risk and reward is towards individual horses is your decision, so it might be that you accept a break-even on most of the runners, in order to maximise potential profit on the horse you think will actually win.
Or perhaps even on a favourite you think will lose. And products like Timeform Race Passes can help you find more opportunities to profit, in more ways. Let Betfair do the work Whilst the basics of the Exchange are very easy to learn, it does take some more understanding to become proficient at using back-to-lay and lay-to-back tactics.
Though as you have read — it is well worth the practice if you want to improve your betting and expand your opportunities to make profit. Still too much computing involved? You can learn more about these options, here. Rewards valid for 30 days. Compare different betting exchanges, the rate of commission they charge, and if they have any bonuses on offer.
The lower the commission, the higher your profit will be. Also, a few betting exchanges even have skilled tipsters for extra insights. Check if the betting exchange in question offers live betting. The best in-play betting sites provide handsome odds across a slew of markets, creating an exciting and dynamic wagering experience. Some forums will suggest you use a VPN to sign up with Betfair. However, this will only go so far.
You could be asked to provide copies of these documents immediately after registration or when you proceed to withdraw funds. If you fail verification, your account will be frozen and your winnings confiscated. Alternatives to Betfair would be all the betting exchange sites that accept Indian bettors: Fun88, Crickex, Smarkets, and Matchbook.
Moreover, the minimum deposit is a nominal INR Likewise, Fun88 is a great option for beginners, and you get to play on the move with the Fun88 betting exchange app for Android and iOS. Smarkets Although it is the newest betting site in this list, Smarkets is arguably the best Betfair alternative in India you can find. All this makes this site a top contender as a Betfair substitute, especially when you consider the competitive commission percentage.
Source: Smarkets 2. So yes, punters in the country are at a slight disadvantage here. Source: Matchbook Betting Exchange Apps in India: Reviewed Matchbook App Like we do for cricket betting apps , here are our mini-reviews of four leading betting exchange apps in India: Betting exchange apps for Android and iOS Live chat support The Matchbook betting exchange site is a little peculiar, in the sense that it has some solid selling points but a few glaring shortcomings.
And it is, really. INR is also not accepted as a viable currency. Unfortunately for fans of Apple, the Crickex betting exchange site is limited to Android devices only. The four best options punters in the country have are Crickex , Fun88, Smarkets, and Matchbook.
DRAFTKINGS SPORTS BETTING PROMO CODE
A guide to lay betting in and beyond By Charles Updated 24th March, Confused about what back and lay betting is, how it works and what to use it for? Before we get into the bulk of this guide and look into back and lay betting, we need to clarify what betting exchanges are and how they work. An exchange may be a new concept to any beginners out there so this section is for you.
What is a betting exchange? A betting exchange, for example, Smarkets , is an online marketplace where punters can bet against each other rather than with a bookmaker. These peer to peer platforms allow the punter to act as a traditional bookie and sell a bet, otherwise known as laying a bet more on this later.
Think of a betting exchange as a place to trade bets, much like you would on the financial stock market. This commission varies between different exchanges but ranges from 1. Typically a betting exchange offers the true market price odds whereas bookmakers add their profit margin into the odds, which means less value for you, the punter. As with any market, for a bet to go ahead, there needs to be a buyer and a seller, similar to eBay, Amazon and any other marketplace for that matter.
In the betting industry, a buyer is someone looking to back a bet and a seller is someone looking to lay a bet. You may have worked out that punters can place both back and lay bets at a betting exchange. This makes them incredibly versatile and popular betting platforms. What is back betting? So, what exactly is back betting? Back betting or backing is the traditional and most common type of betting format.
Placing a back bet on a horse simply means you are staking money on it to win. As simple as that. The bookmakers set the odds according to the likelihood of an outcome, taking into account the current market price and their margin, as I mentioned above. So what about lay betting?
What is lay betting? However, Betfair still leads the way in terms of size and popularity. Anyway, back to the important stuff. A lay bet is the opposite of a back bet. Placing a lay bet on a horse simply means you are staking money on it NOT to win. If the horse does win, you lose your bet. This may seem counterintuitive but it makes more sense if you just look at lay bets as the reverse of back bets. Back and lay betting examples Below are a few back and lay examples to help explain and show the difference.
As you can see, back and lay bets are the direct opposite of each other. Back and lay betting comparison The table below shows a comparison between back and lay bets. If Horse A wins, your back bet will win and your lay bet will lose. Whatever betting market you look at, the odds are generally not the same between different bookmakers. This is especially the case when it comes to back and lay odds.
This is clear to see in the example below: Back odds at Coral for a tennis match: Lay odds at Smarkets betting exchange for the same tennis match: You can see the back odds are 3. A discrepancy like this is quite typical and is sometimes bigger than this. Speaking of making a guaranteed profit, many punters use a betting strategy called matched betting that uses the back lay process mentioned above.
Step one — Open your exchange account The first step is to head to your favourite betting exchange. Step two — Find the right market Next, find the market you want to bet on. I want to place my bet on the fourth Ashes Test. Step three — Back or lay bet? This is the important bit. Betting exchanges differentiate between the two by using different colours. At Smarkets, green represents a back bet and blue represents a lay bet.
When you back an outcome in a match, the stake is the liability. The liability is also correlated with the odds which are used in the formula we mentioned before. Think of it as insurance for the lay bet the betting exchange locks away from you. While not essential to place back and lay bets, liability is a major factor you should consider. Using the formula above, you can calculate backing and laying bets to make money without the need to log in and let the system do the work for you at a betting exchange.
In Australia and other countries, punters at sports betting sites usually use the so-called lay the draw strategy to optimize profits. This strategy consists of laying a bet on a draw. Keep in mind that there are 2 different lay the draw strategies. One is a lay the draw betting; the other is for traders. If it ends or or any other draw result, you lose your lay bet. Whenever a team scores in the match, the draw price goes up to make some nice profit.
The example we used above is for lay the draw betting strategies. No need for anything fancy — a basic strategy will do nicely. However, you will optimize your profits while covering most of your losses. Turning a profit from lay betting or any other type of betting is not that easy. It requires commitment and no wrong moves. However, our pros have top betting tips and tricks that should help increase your odds and make you a better lay punter.
In back lay betting, you must first control your liabilities. You can always use a dummy calculator to see the risk and possible rewards and weigh the ratio between each other. If everything looks clear, you can proceed to lay a bet. Another great strategy for lay betting is specializing in a certain field. Find a market you like and focus on it.
The more you follow developments around it, the higher your chances of winning. Do your research, read a guide on lay betting, manage your bankroll, and never chase your losses.