Live sports betting has become a vogue these days. Players like to bet online on the various platforms available for betting. Moreover, it offers huge bonuses and rewards. However, not everyone is aware of the two most important betting terms. You might have come across the terms back betting and lay betting. Now it’s time to learn what is back and lay in betting.
Quick Intro to What is Back and Lay in Betting
When a person bets online for live sports there are always two types of bets that they can place. One is the back bet and the other is the lay-in bet. These bets are specifically made for sports betting games like cricket, football, horse racing, tennis, and other such interesting live sports games.
Let’s know about these two terms in depth. Back betting is when you bet on the winning side with higher odds. According to your analysis, it means putting your money on a player or team that might have a chance of victory.
For example- You bet on a platform and today your favourite team India has a match with Australia. You analyse the teams and other important things that you think can help India to win the match. In that case, you place a back bet on team India.
Lay-in betting means when you bet for a player or a team that has the chance of losing the match. When everyone else is back betting, you are the one who lays a bet on the game. This means you are supporting something that will not happen.
For example- During the IPL season you decided to bet on the match between RCB and CSK so, you place a lay-in bet on CSK for losing the match.
The two are sides of the same coin with minor differences. These two terms hold a lot of importance in the sports betting world. They will enhance your betting skills in any game.
Difference between Back and Lay
Even though they both are related to betting, there is a slight difference between them for you to understand and help you play better. In back betting you bet for the outcome to occur. Like betting on a horse that will win the race.
Whereas, lay betting is betting on an outcome that will not occur. Like betting on the cricket team that everyone believes will win but as per your analysis it will definitely lose.
This is the only difference you need to keep in mind the next time you hear someone say them. By backing you are betting on something to happen and laying is betting against it. Knowing the difference is the key to enhancing your skills and strategies for future games.
Both depend on the prediction. If your prediction and instinct are strong, you will earn a profit and vice versa.
Pros and Cons
Betting comes with lots of pros and cons. There is always a risk in these two bettings but if you can also win big if your prediction is right. They have various pros and cons that need to be considered.
Pros
Offering Better Odds
Back and Lay betting offers better odds than regular betting. These types of betting occur between the two bettors, rather than between a bettor and the bookie. This increases the odds, thus increasing the chance of winning.
Setting your Own Odds
Just like I said above, it is a bet between two bettors, no third person has a role here. Thus, the bettor can easily set their own odds and increase the chance of winning the bet.
High Profit
Choosing back and lay betting increases the chances of earning a higher profit than regular betting. More odds lead to more profit.
Tools for Counting Profits
You can check the potential amount you might earn through various online tools available. Thus, you can easily check for the profit you will earn for betting in the future. There are various online calculators like the matched betting calculator for accurate information.
More Sports Betting Options
Back and Lay betting offers a wide range of sports betting options, and bettors can easily choose the game they feel will earn them higher profits.
Better Betting Experience
Back and Lay betting is mostly related to live betting, giving a better gaming experience. Live betting is more interesting and you really feel a part of the game. It offers a better connection with the game.
Cons
Hard for Beginners
One of the biggest drawbacks of back-and-lay betting is that it can be a bit complicated for beginners. It takes a bit of work to grasp the concept of this betting at first.
Odds Keep on Changing
The live nature of these bettings makes it hard to predict the future as the odds keeps on changing. It never stays constant. Therefore, the winning side might lose or the losing side might win.
Risky Betting
With huge profits, there is also a high risk of losing the amount as games can never be completely predicted.
Concept and Strategy to Win
Some players might still be confused about the workings of the two bets. Let’s learn more about it with an example for a better understanding of what is back and lay in betting.
The Concept
Suppose there is a cricket match between India and Australia. You are ready to place a back bet on India as you can see the odds of winning are higher. The game is running smoothly but you see a sudden change in the last over.
Team India needs 28 runs in 4 balls. The odds are lower and then you decide to place a lay bet as it is clear India might not make it. However, your friend had already placed a lay bet of 100 on India losing the match at 5% and you did later and now he will earn ₹ 500 for placing the lay bet. Therefore, he will earn more profit than you.
Strategy to Win
Even though betting is unpredictable, a few strategies might help you win the game you are betting for. This might not always win you profit but it will surely increase the chances of winning. Here are a few strategies:
Switch the Bet
If you back bet for the team and later you feel like you are losing it, you can lay bet for the same team. Though you will not win a big profit, however, you will lose less than you might have before.
Calculate the loss
Before betting always check the amount you bet and the potential loss. You can use the various online calculators designed for the same.
These basic strategies will help you win more than lose. You should know the basic rules of the games you are betting on. It will help you to analyze the betting system better.
Ending Words
Back and Lay betting is absolutely worth it if the player has the skill to bet. A good knowledge about the game along with strong prediction power can benefit you in the long run. If the bettor knows the strategy to use back and lay bet, they will earn bigger and better profits.
However, this betting is quite complex and might be hard to grasp for the first-timers. Therefore, they should learn about the basics of this betting and only then decide to bet. At the end, it all depends upon the bettor to choose back and lay betting.
I hope the article about what is back and lay in betting helps you understand the basic difference between the two and the strategies to help you win using this betting method.