(back price x back stake) / (current lay odds - exchange commission)
Lay betting is an option only on betting exchanges as traditional betting is back only. The boomaker ‘lays’ his bet to you and if you win your back bet you collect a multiple of your stake. If the you bet loses then the layer wins the backers stake. That the same with a traditional bookmaker and on a betting exchange.
The backer bets their money in order to get a winning that equals their stake times the odds. In the case of the person laying the bet, their prey is the stake of the bettor.
Let’s say we lay a horse in a race. If you lay odds in a horse race, you are offering odds for a backer to take. You would win your bet if the horse loses, but if the horse goes on to win the race, then you have to pay out to the backer.
Profit = (back odds – 1) * back stake – (lay odds -1) * lay stake
Effectively, the layer is playing the role of the bookmaker. They’re making profits when backers lose, same as traditional bookmakers do when regular bettors lose.
Lay betting is the process of betting on a selection to lose. It was slightly controversial on introduction as people had only been able to place a bet by backing, betting on something to win. But ultimatey if you are betting into a two selection market a back bet on one selection is effectively a lay bet on the other selection. Nothing remotely controversial about that!
Becoming a makeshift bookmaker is possible thanks to the invention of betting exchanges. Only at sites like Betfair, Matchbook, and Smarkets can you take the bookmaker’s seat and act as a layer. In old-school sports betting sites, you can only be a backer.
In this article, I am going to work through how to set up a simple piece of Betfair Automation on Bet Angel that will identify a horse within a race and lay it to a fixed liability. The purpose of doing this is just to give you an indication of something basic to do that you can then expand upon if you so wish.
How to calculate your overall back to lay arbitrage profit
You can think of lay betting as the exact opposite of traditional betting. Instead of backing a team to win, with lay betting, you’re wagering your money that the team in question will not win. Any other outcome will bring money your way.
lay bettingback bettingBack bettinglay bettinglay betting
When you lay a bet, you are betting on something to not happen. If the selection loses then you win the backer’s stake. However, if it wins then you pay the winnings. This is known as the liability, i.e. how much you will potentially have to pay out. Lay betting isn’t as popular as the traditional way of betting, and it’s aimed more towards experienced bettors who often keep a close eye on betting markets on a regular basis.
lay bet$50 at odds of 4.0, $150lay bet calculatorBetfair calculator
Betfair is one of the best betting exchanges around if you’re looking to place lay bets on sporting events from across the globe. We’ve provided you with a step-by-step guide on how to place a lay bet on Betfair.
stakes, liability, and potential profitsBetfair lay calculator
Yes. Lay betting is legal in the UK. There are many different betting exchanges which you can use for lay betting, but our team of betting experts would recommend the likes of Betfair and Matchbook, who have a glowing reputation when it comes to their exchanges.
Back and lay betting in cricket
They act as intermediaries between the bettors who want to back a certain outcome and those who want to lay it. For their services, betting exchanges take a small fee.
Lay Betting Calculatorback and lay calculator
It is perceived that lay betting increases your chances of winning. In a way it does, because in Horse Racing, laying a horse means you are effectively backing 10 other horses!