Back and lay
It is obvious and instinctive what we mean by wagering, the placement of money on the expectation of an outcome, for example Roma – Lazio (1) means selecting the odds given by the bookmaker and betting on a victory for Rome.
Many bookmakers also allow you to “lay”, i.e. they accept the hits of other users. We in fact replace the bookmaker, we become the bookmaker. Banking on Rome at 2,3 means accepting the bet of a user counting on Rome. In substance, it is like counting on the opposite outcome, that is that Rome does not win (draw or defeat).
This arrangement offered by some bookmakers in accepting different wagers, laying, could be effectively capitalized by us to reap a profit giving you a sure bet. In what way?
It’s simple, we can simply target a given outcome at the odds offered and bank the same outcome at lower odds. Even here, distributing the amount appropriately between the odds and laying, we can ensure that whatever the outcome of the match, a win would be mathematical.
I place €100.00 on a victory for Rome with odds given of 3.6 and at the same time bank on a Rome victory with odds of 3.2 at another bookmaker for €112.50.
There could be two possible outcomes:
1) If Rome draws or loses, I will lose the €100 bet but I win €112.50 that I laid; net win = €12.50
2) If Rome wins, I will win the amount bet on the target 100*(3.6-1) = 260 net while I will lose the exposure that I laid, having accepted the others’ wagers, that is I lose 11.50*(3.2-1) = €247.50. The net win is still, however, €12.50
Be careful when you lay – some bookmakers apply commissions to net wins. It would therefore be a good idea to consider the odds given in line with commissions.
In the betting tools section you’ll find a back and lay calculator that calculates the exact amount to lay for a specific selection. The calculator calculates the lay amount (the sum to bank) and the exposition in the exchange site, that is the amount of money that we have to have available in order to make this play to obtain the same profit in winning the back or the lay.