Hello, punters! We’re back to continue getting you up to speed so you don’t look like you have no idea what’s going on in the greater sports betting world. It’s all about knowing the terms that everyone else is flinging around. The more that you can work on this, the more money that you’re going to make. The worst thing that you can do is be very uninformed about what’s going on. The terms matter, people. They just do.
Anyway, moving on to what we really want to talk about today — laying and exchanges. You might wonder what these terms actually mean. Thankfully, today’s lesson is pretty straightforward.
Indeed, an exchange is just a betting website where punters bet against each other. You’ll be able to assume the position of the sportsbook and offer odds on things not to happen as well as betting in the normal way (the odds of something happening).
Well, the way bets are placed is a lot different from the traditional bookmakers. You’re going to be able to request your own odds on the markets as well as placing your bet at other offered odds as soon as possible.
It’s also important to realize that the closer you request your odds to the current trading price the more likely it is that your bet will be matched. If your bet is not matched before the beginning of the event the bet will be void and your stake will be returned to you.
An example is necessary to understand how all of this works.
Let’s say that you’re chilling at home and you see on the exchange that the odds on Arsenal to beat Man U are 3.5 to back and 3.7 to lay.
Now, you have some options. You could bet at 3.5 immediately, or you could offer to bet at 3.6, 3.7, or 3.8 and hope that someone matches your bet.
Well, if you make your odds too high, your bet won’t be matched. But if you can find the sweet spot in the market, your bet will be matched.
We can use this same type of example to explain laying, which is the act of betting on an outcome not to happen. This is essentially what your sportsbook is trying to do in order to achieve profits of their own.
In order to “lay” a bet, you have to look at what price it’s currently trading at. You need to decide if you want to lay at the price listed and have your bet matched at those odds.
Need another example? No problem.
Let’s say that in the Arsenal v Man U match, you could lay Man U. You might have read something that indicated Man U might have problems during the actual game. So if you lay Man U, you basically make money if Arsenal wins or draws.
If you go to the exchange and Man U is sitting at 2.8 to back them but 3 to lay… you decide to go with the lay. You put down 50 GBP at the current price of 3 (2/1), which would mean that someone is betting on Man U at 2/1. If they win, you have to pay them! If Man U wins, then you have to cough up 100 GBP (at 2/1), but if Man U loses or draws, you get to keep the other person’s 50 GBP stake. This means that you profited 50, to have a total of 100 GBP.
There’s a few reasons to actually use exchanges. Indeed, exchanges will claim that they offer better odds (up to 20%) than the traditional guys in the marketplace. But this is a bit of an exaggeration.
You get to actually trade on events and lock in a profit no matter what the outcome actually is. You can predict market moves and actually win just on the predictions. If you’re getting flashes of the stock market, you would actually be right.
It’s important to realize that exchanges would be riskier than the traditional players, but if you like the thrill of fast action, then this is definitely where you need to be.
Keep in mind that the exchanges will be making money off of you by charging commission on all of the bets that you win. Keep your commission in mind as you play before you really start looking at just how profitable you have been. Managing the numbers is a little tricky, but you just have to figure out how serious you want to go. Good luck!