Back and Lay Betting explained

Back & Lay Betting

By backing and laying bets you can get a better value for your money, better odds, and you can even do match betting to ensure profits will come your way.

There are 3 Key points here:

 

  • The Betting exchanges allow you to act as a bookmaker by laying a bet (betting against a certain outcome/others).
  • When backing and laying bets at betting exchanges, you’re betting against other players.
  • Learning how to back/lay bets is crucial for becoming successful on betting and trading.

 

What exactly are the Betting Exchanges and how do they work?

 

The launch of Betfair, the world’s first betting exchange sparked a sort of revolution in the world of sports betting. Instead of being stuck with only what the usual sportsbooks have to offer, players now have the option to take the role of the bookmaker.

 

A betting exchange is a marketplace where players can back or lay the outcome. Basically, you can bet that a certain outcome will happen (back) or that it won’t happen (lay). If you’re laying a bet, it means that you’re betting that any other outcome will happen. If you’re placing a back bet, it’s as if you were betting that the outcome in question is going to happen, the same way you would do in a regular sportsbook. Even though there are some similarities between betting exchanges and sportsbooks, the two are not the same. The main difference is that traditional sportsbooks make profits by offering less efficient odds. Even if you covered all the outcomes of an event in a sportsbook, you would not make money. The odds are set in a way that the house always wins.

With betting exchanges, on the other hand, the bettors don’t bet against the operator. Instead, they bet against one another. So, how do betting exchanges make revenue? By taking a small commission on winning bets.

Backing and Laying Explained

Sportsbooks have been around for centuries. One of the main reasons for that is that their modus operandi is pretty straightforward. Players get to wager their money on the outcome of a match or a race. If the player wins, the sportsbook loses and the other way around. To make sure the second scenario happens more often, sportsbooks offer odds that always go to their favour.

When betting at a regular sportsbook, you’re ‘backing’ an outcome, while the bookmaker is ‘laying’ the same bet. With betting exchanges, you have the option not only to back bets, but also to lay them. In simple terms, betting exchanges let you assume the role of a bookmaker.

 

A betting exchange acts as a middleman between a backer and a layer. That said, in order for a wager to take place, there needs to be a punter to back an outcome and a bettor to bet against it, that is, to lay the outcome.

Both the backer and the layer need to agree on the odds and stakes before the wager is accepted. If the backer wins, the layer is liable to pay out their winning. If the opposite happens, the backer’s stake (minus the commission) is added to the account of the layer.

Back Betting

What is back betting? Back betting is simple, bookmakers publish the odds for different horses, and you back one horse by betting a certain amount of money on it. For example, let us say a horse has odds of 4.0 and you place €10 on the horse to win. If the horse wins, your back bet was a success – you will receive €10 * 4.0 = €40 as reward for the bet. However, if the horse does not win (even if it ends up second) you will lose your €10 and get nothing back in return. This is simple back betting. You are ‘backing’ a horse.

Back betting is the most common type of bet with bookmakers, and if you have ever taken a bet on a horse, you have probably done back betting without even realizing it.

To set this simple – a back bet is basically staking money for your horse to win.

Lay Betting

What is lay betting?

Lay betting is more recent and a little more complicated than your traditional back bet. Lay betting rose in popularity with the advent of betting exchange platforms where punters bet against each other rather than against a common book maker.

In a way, a lay bet is the stark opposite of a back bet. While in a back bet, you essentially say “this horse will win”, in a lay bet you are betting that a particular horse will not win. Therefore, when you place a lay bet on a horse, you are staking money on it not to win.

Lay bets are not as common and have only come into the picture in recent years. However, a lot of punters prefer taking lay bets over back bets simply because it may be easier to pick one horse from a group of horses to place anywhere but first rather than to pick one horse from a group of horses to come first.

Even though lay bets are less common than back bets, they are fundamental in certain betting strategies such as matched betting.

Here is a very simple example of a back bet and lay bet to emphasize the key difference

Back bet: I bet €10 that Liverpool will win the English Premier League this season

Lay bet: I bet €10 that Liverpool will not win the English Premier League this season

Depending on the specific bet, you may get better paying odds in either of these types of bets. If you back bet on a favourite, the odds won’t be so high paying, but if you lay bet on a clear favourite, your odds might be well paying. Likewise, if you back bet on an underdog, you’ll get good paying odds and vice versa.

Bookielink offers you all the premium Betting Exchanges and Sportsbooks through one account, so register for an account now!

Open a Bookielink account now and enjoy all the premium Betting Exchanges and Asian Bookies!

If you need more information regarding all the premium Betting Exchanges and Asian Bookies! please contact Bookielink Customer Support via info@bookielink.com or use the Live Chat option, WhatsApp, Skype and all other supported methods.

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Asian Handicap Explained

Asian Handicap Odds Explained

Asian handicap betting is a form of betting on football in which teams are handicapped according to their form so that a stronger team must win by more goals for a punter betting on them to win. The system originated in Indonesia and has gained popularity in the early 21st century. It is a form of spread betting. Handicaps typically range from one-quarter goal to several goals, in increments of half- or even quarter-goals.

Most importantly, Asian handicap betting reduces the possible number of outcomes from three (in traditional 1X2 wagering) to two by eliminating the draw outcome. This simplification delivers two betting options that each have a near 50% chance of success.

Asian handicaps:

Are both good and bad for bookmakers. On one hand, they help bookmakers minimize risk by facilitating trading with parity or balancing the amount of wagering on each side of the match. This enables bookmakers to take larger positions on major matches. On the other hand, Asian handicap markets are typically low margin offerings that do not contribute as significantly to the gross win as higher vigorish betting options like 1X2.

The term “Asian handicap” was coined by journalist Joe Saumarez Smith in November 1998. He was asked by an Indonesian bookmaker, Joe Phan, to provide a translation of the betting method that was termed ‘hang cheng betting’ by bookmakers in Asia.

Football (soccer)

Is one of the few sports in the world where a draw is a fairly common outcome. With traditional fixed odds, draws are treated as an additional outcome to the game. In other words, bettors lose when they place a wager on either team to win and the game draws. With Asian handicaps, however, the chance for a draw is eliminated by use of a handicap that forces a winner. This creates a situation where each team has a 50-50 chance of winning; similar to the odds for a basketball or football spread handicap typically offered by Las Vegas sportsbooks.

Environmen

Asian handicap is a form of betting that creates a more level betting environment between two mismatched competing teams by giving a “handicap” (expressed in goals or points) to the teams before kick-off. In Asian handicap, a goal deficit is given to the team more likely to win (i.e. the Favorite) and a head start is given to the team less favoured to win (i.e. the Underdog).

This system works in a straightforward manner.

This system works in a straightforward manner. The bookmaker‘s aim is to create a handicap or “line” that will make the chance of either team winning (considering the handicap) as close to 50% as possible. Since the odds are as close to 50% as possible, bookmakers offer payouts close to even money, or 1.90 to 2.00. Asian handicaps start at a quarter goal and can go as high as 2.5 or 3 goals in matches with a huge disparity in ability. What makes Asian handicaps most interesting is the use of quarter goals to get the “line” as close as possible. Taken in conjunction with the posted total for the game, the handicap essentially predicts the game’s final score.

Quarter-goal or two-way handicaps

Subsequently, many matches are handicapped in ½ and ¼ intervals; both of which eliminate the possibility of a push since no one can score a half-goal. Quarter (¼) handicaps split the bet between the two closest ½ intervals. For instance, a $1000 bet with a handicap of 1¾ is the same as betting $500 at 1½ and $500 at 2. With ¼ handicap bets, you can win and draw (win ½ of wager) or lose and draw (lose ½ wager). The ¼-goal handicap may be expressed by some bookmakers as “0 and ½”, or as “pk and ½” (for “pick-em”) – especially for bookmakers whose systems are designed for sports like American football and basketball, where bets have a handicap that is designed to make the odds as close to even as possible.

Figures

The bettor’s stake is automatically divided equally and placed as 2 separate bets. This means that with a handicap point of 0-0.5 or 0 and ½, half of your stake is on the 0 point handicap and the other half is on the 0.5 handicap.

Match: Everton vs. Newcastle United

Handicap: Newcastle +1.0, +1.5

Explained: This handicap states that half of your bet goes on Newcastle to win, draw, or lose by less than 1 goal; and half on Newcastle to win, draw, or lose by less than 1.5 goals.

If the final score is Everton 1-0 Newcastle, half your bet would be refunded due to draw (Everton 1 – +1 Newcastle, i.e: Newcastle lost by exactly one goal). The second half would win (Everton 1 – +1.5 Newcastle, i.e: Newcastle lost by less than 1.5 goals).

Whole handicaps and draws

In the event that a whole number is used for the handicap, the handicap adjusted final score could result in a draw. This situation is not a draw, but a push. With a push, all bettors have their original wagers returned as there is no winner. The plus signs in the Team result columns indicate “or more”, eg. “2+” means “by 2 goals or more”.

Handicap Team result Bet result Handicap Team result Bet result
0 Win Win 0 Win Win
Draw Stake refund Draw Stake refund
Lose Lose Lose Lose
– 0.25 Win Win + 0.25 Win Win
Draw Half lose Draw Half win
Lose Lose Lose Lose
– 0.50 Win Win + 0.50 Win Win
Draw Lose Draw Win
Lose Lose Lose Lose
– 0.75 Win by 2+ Win + 0.75 Win Win
Win by 1 Half win Draw Win
Draw Lose Lose by 1 Half lose
Lose Lose Lose by 2+ Lose
– 1.00 Win by 2+ Win + 1.00 Win Win
Win by 1 Stake refund Draw Win
Draw Lose Lose by 1 Stake refund
Lose Lose Lose by 2+ Lose
– 1.25 Win by 2+ Win + 1.25 Win Win
Win by 1 Half lose Draw Win
Draw Lose Lose by 1 Half win
Lose Lose Lose by 2+ Lose
– 1.50 Win by 2+ Win + 1.50 Win Win
Win by 1 Lose Draw Win
Draw Lose Lose by 1 Win
Lose Lose Lose by 2+ Lose
– 1.75 Win by 3+ Win + 1.75 Win Win
Win by 2 Half win Draw Win
Win by 1 Lose Lose by 1 Win
Draw Lose Lose by 2 Half lose
Lose Lose Lose by 3+ Lose
– 2.00 Win by 3+ Win + 2.00 Win Win
Win by 2 Stake refund Draw Win
Win by 1 Lose Lose by 1 Win
Draw Lose Lose by 2 Stake refund
Lose Lose Lose by 3+ Lose
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Mollybet – Best In-Class Sports Trading Platform For Professional Betting!

MollyBet

mollybet | Best In-Class Sports Trading Platform For Professional Betting!

About MollyBet:

MollyBet is the most advanced sports trading platform, designed exclusively for professional traders to give them the best odds and highest stakes across multiple bookmakers and exchanges.

Since its start in 2008, Mollybet has become one of the leading players in the world of high stakes in sports betting. It is particularly well-established among professional bettors/punters. Who are looking for best possible tools that will allow them to beat the market. The use of Mollybet’s state of the art, the multi-account betting software gives the punter access to the best odds and highest limits while only having to keep track of one account.

 

Mollybet’s Reputable Partners

Many of the world’s largest Bookmakers, in particular, the Asia-based operators, partner with authorized Agents (Bookielink) to provide account and settlement services to their clients. Bookielink’s role is to establish betting accounts, manage client funds (e.g. receive deposits, send withdrawals, manage client credit and settle outstanding balances between the client and the bookmaker) and provide great customer support.

They focus entirely on providing a world-class execution platform. They do not provide betting accounts and they don’t accept client deposits. However, through their 10+ years of experience, they have established lasting relationships with a handful of highly reputable Agents like Bookielink.

If you require betting accounts, please let us know: we’d be happy to talk you through how the system works in more detail and what best suits your requirements.

 

Why Mollybet?

Mollybet will give you access to betting on all of the major Asian bookmakers, including:

 

Pinnacle Sports

SBObet

IBCbet

Singbet

Bet ISN

 

and the betting exchanges

 

Betfair

Matchbook

Betdaq

 

All these are bookmakers/exchanges that will not limit or close the accounts of long-term and repeat winners.

 

A Mollybet account is free of use for punters, and the bets placed are automatically placed with the bookmaker/exchange offering the best odds, in both In-running and Early Market. If one bookmaker can’t fill the whole stake wanted, MB will place the total bet stake across a number of different bookmakers.

 

What sports does Mollybet cover?

 

Mollybet offers odds on:

 

Football (including Half Time and Corner bets)

Tennis

Basketball

American Football

Baseball

Ice Hockey

Rugby Union

Boxing

Cricket

 

 

 

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Betting Brokers | A Guide

The term Betting Brokers is a broad one that includes a wide variety of organisations who share the goal of facilitating bets on behalf of their clients. They typically offer one or more of the following services:

– A web-based platform to enable clients to access a variety of bookmakers through a central portal.

– Account provision for difficult to access betting accounts, usually including the large. Asian bookmakers such as SBO, IBC, ISN and Singbet. These bookmakers have historically welcomed profitable players.

– Skype betting or other transactional services. That enable clients to strike bets through an intermediary which are not normally available through more conventional means.

 

At Bookielink, we provide all of the above services, and more!

 

The main advantage of using a bet broker over a traditional bookmaker is the access to far greater liquidity from bookmakers across the world, resulting in larger available betting volumes at better prices. Whether this is achieved by using our online platform to place large bets simultaneously across multiple bookmakers, accessing our skype brokerage to request custom bets or signing up to our account agency to trade with Asian bookmakers, Bookielink can ensure that all bettors are able to access the best prices at the largest volumes.

When choosing a Betting Brokers

When choosing a betting broker, it is critical that prospective clients focus on the security of their funds. quality of customer service and the legal status of the operator. Bookielink is a fully-licensed organisation with staff in Europe (UK, Cyprus), Asia and Africa. We have operated in the industry for over 10 years and have cultivated a reputation as a trusted, secure partner and low-cost partner with a history of prompt settlement and exceptional customer support. We believe that Bookielink is the ideal partner for all bettors looking to increase their access to liquidity and achieve larger volumes at better prices

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