lay betting terms explained

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Lay betting terms explained how do i get bitcoins for free

Lay betting terms explained

With lay betting, you bet on a team not to win instead of backing them to win. Lay bets can only be placed at an online betting exchange, like Betfair. Lay betting is an option on a betting exchange which allows gamblers to play the role of a traditional bookmaker. If the selection wins, you lose the backers stake multiplied by the price of the selection minus the stake amount. This is a particularly relevant bet to make in a market that has 3 or more selections.

Take a horse race as an example. The hot news is that a famous horse has come down with a mysterious illness. You spot an opportunity to make some money. In the old days, this would be a very difficult process that involves backing all of the other horses in the market for varying amounts. Just as long as that horse fails to win, you win. This can be seen in the below image, with the red number showing your potential loss if that selection wins, and the green numbers your potential win if those selections win the race.

What you will notice are two different boxes. The blue box is your traditional back bet, and the pink one a lay bet. For the purpose of this example, we are going to show you how to place a lay bet on Paris Saint-Germain. Once you click the pink box, the selection will show on the bet slip on the right hand side of the screen.

Once you add the selection to your bet slip, you can add the stake. The number circled below is your liability, and potential payout if the person taking your bet wins. If there is someone who already has cash in the system at the same price, the exchange will match your bets immediately.

Otherwise, you must wait for someone to take the price which you have offered. This is how our betting exchange of choice for this example, Betfair, make their money. Rather than backing a selection to win, lay betting enables you to bet on something to not happen. For instance, you might think Liverpool with their defence has no chance of winning the Premier League.

At the same time, you might not know who will win the league. In this instance, a lay bet might be right for you. Lay betting would allow you to bet that Liverpool does not win the league. If anyone else wins the Premier League, then you win your bet. If Liverpool does win the league, then, of course, you would lose. When you conventionally back a horse to win, the amount of money you can lose is your stake. It is different for lay betting. Think of yourself as the bookmaker. If you lose your bet, the bookmaker keeps your stake.

If you win, then the bookmaker has to pay out your winnings. It can be a lot more than your original stake. This is same as laying a bet. If the selection does win, you have to pay out the winnings. That potential payout is known as your liability. It how much you need to pay out if you lose your bet. The horse is priced at 3. If the horse wins the race, then your liability is equal to the winnings for the backer.

The horse is priced at 5. We wanted to put in this example since it shows how liability can quickly grow. At odds of Laying off a bet refers to betting against something you have already backed. Let us explain further. You back Newcastle at 8. During the game, they take a surprise lead.

You can choose to now lay off this bet. By laying the same bet as you back, you are betting both on it to happen, and for it not happen. Because the odds have got shorter, you are guaranteed profit for doing so. This is similar to cashing out your bet earlier.

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What is a Lay Bet? Lay Betting Explained Last updated September 27th, Every single bet you place will involve laying bets off. This process — betting against possibilities, is known as the LAY bet. Betting against an outcome, is laying that bet. We'll show you the EXACT process we use to generate thousands in risk-free betting profits each year.

What Does Gubbed Mean? What is an Arb? About the Author This post was written by Luke Jordan. Related posts November 29th, Leave a Reply Cancel reply Your email address will not be published. Once you click the pink box, the selection will show on the bet slip on the right hand side of the screen.

Once you add the selection to your bet slip, you can add the stake. The number circled below is your liability, and potential payout if the person taking your bet wins. If there is someone who already has cash in the system at the same price, the exchange will match your bets immediately. Otherwise, you must wait for someone to take the price which you have offered.

This is how our betting exchange of choice for this example, Betfair, make their money. But as we mentioned previously, lay betting is vital for matched bettors. Matched betting is a process which turns bookmaker free bets into withdrawable cash, with little, or no risk.

Because lay betting is important for matched bettors, OddsMonkey have teamed up with the number one betting exchange, Betfair, to make life so much simpler. It was developed to make finding suitable matched bets easier. Previously, this would be a long, frustrating process. To get a better return with matched betting, you need to find an event where the bookmaker price is close to the exchange price.

Our OddsMatcher tool scrapes the data from every bookmaker and betting exchange, and allows you to filter for suitable bets. In the past, it was a point of reference only. But time is of the essence in matched betting. Prices are constantly changing, so you need to be quick. So what did we do? We spoke to Betfair, and with some technical wizardry, we integrated Betfair into our platform.

Before now, the biggest risk with matched betting has been human error. But our integration of Betfair takes us one step closer to eliminating that risk altogether!

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Otherwise, you must wait for someone to take the price which you have offered. This is how our betting exchange of choice for this example, Betfair, make their money. But as we mentioned previously, lay betting is vital for matched bettors. Matched betting is a process which turns bookmaker free bets into withdrawable cash, with little, or no risk.

Because lay betting is important for matched bettors, OddsMonkey have teamed up with the number one betting exchange, Betfair, to make life so much simpler. It was developed to make finding suitable matched bets easier.

Previously, this would be a long, frustrating process. To get a better return with matched betting, you need to find an event where the bookmaker price is close to the exchange price. Our OddsMatcher tool scrapes the data from every bookmaker and betting exchange, and allows you to filter for suitable bets.

In the past, it was a point of reference only. But time is of the essence in matched betting. Prices are constantly changing, so you need to be quick. So what did we do? We spoke to Betfair, and with some technical wizardry, we integrated Betfair into our platform. Before now, the biggest risk with matched betting has been human error. But our integration of Betfair takes us one step closer to eliminating that risk altogether!

About Our Company. We are a crack team of software developers and experienced Matched Bettors, dedicated to helping you earn a sustainable, tax-free income every month. The formula to calculate this liability yourself is. So for the below example, that is: 1. What is a dead heat? Where an event is tied. Two or more selections finish level. Decimal Odds. What are decimal odds?

Typically the format used to express odds in Europe. What does evens mean? What is the favourite? The selection horse, greyhound, player or teams with the shortest odds for the win. The most fancied winner. What does FGS mean?

Abbreviation for First Goalscorer. What is the field? What is a fillie? A female horse will be called a Mare once it reaches five years of age, before which it is called a Fillie. First Past the Post. What does first past the post mean? The selection which is first to cross the finish line in a race. The winner. What does form mean? The performance history of an athlete, player, horse, greyhound or team. The level at which the selection usually performs or has recently performed.

Used by bookmakers to set prices and by bettors to assess odds and make selections. What does FPTS mean? Abbreviation for First Player To Score. Fractional Odds. What are fractional odds? The standard way of writing odds in the UK. Fractional odds allow you to calculate your potential profit not including your stake. Full Time. What does full time mean? When you back a team to win a match it is a full-time result bet. Bets in football are settled at the end of 90 minutes plus stoppage time and as standard they do not include results achieved in extra time or on penalties unless otherwise stated.

What does going mean? The going is good or hard or soft and so on. Different horses suit different conditions so this is crucial to prices. What is a grand? Handicap Race. What is a handicap race? Common in horse racing, handicap races see horses carry different weights in order to encourage closer competition. Better horses carry heavier weights. In other sports such as football or darts you can bet on teams or players to get results with handicaps included in the odds.

So you can bet on a team to win by more than two goals or a darts player to win by more than two legs, for example. Who is IBAS? What does lines mean in betting? Odds and handicap values offered by bookmakers to customers. What is a longshot? A selection with long odds to win. A unfancied horse, an underdog or an outsider in a race or competition can be called a longshot. What is a maiden?

A rather elegant term to describe a horse which is yet to taste victory in a race. What is a monkey? Nailed On. What does nailed on mean? What is a non-runner? A selection which finally does not participate in a race or competition for which it was entered.

What are odds? The price available on a selection for a bet from a bookmaker. On The Nose. What does on the nose mean? Each way means you back the horse to win AND to finish in the paid places usually 2nd to 4th depending on the type of race and your stake is split on those two bets.

So with each way you put less money on the win, unless you double your stake. On the nose all your stake goes on the win. What are picks in betting? Tips given by experts tipsters on selections they believe have a good chance of winning or getting results. What does places mean? A small number of runners might mean only the first two finishers place, whereas in a big field down to fifth or sixth might be considered a place finish. What is a pony? Another colloquialism for a sum of money.

What does betting price mean? The odds a bookmaker offers bettors on a selection. What is a punter? A customer or bettor. The person placing the bet with the bookmaker. What does retuen mean in betting?

What is a score? What is a betting selection? The athlete, player, team, individual, greyhound, horse, etc, that the punter has their bet on. What is a betting stake? The amount being put down or placed by the bettor on the bet. Stake units refer to the value of each part of the stake in a multiple bet.

Starting Price SP. What is the starting price? The final odds on a selection at the point the race starts. What are betting tips? Also referred to as picks, these are predictions shared with the public, or indeed paying punters in some instances, by betting experts.

These experts are also called tipsters. Tote bets. What are Tote bets? Estimated returns or dividends for successful bets are available beforehand, but the actual amounts to be paid out are only finalised after the race when all the money has been put in.

What are winnings? The amount earned from a successful bet profit on top of the returned stake. What does X mean? Stands for a draw in a 1x2 bet such as those on full time results football matches. Bet Types. There are many different types of horse racing bets that you can choose from. The number of options make wagering on the horses more enjoyable to horse racing fans, although the range in bet types and even just the name of some bets can seem confusing to a beginner.

However, the objective of each bet type remains the same, money is placed on a horse or horses to finish in a specified position and if the outcome is what you predicted then you win. The amount of winnings depends how much was staked and the odds the bet was taken at. Punters that are new to horse racing will usually stick to the most basic bet types. These bets usually involve making just one selection.

What is a single bet? In this situation you can back the horse to place. What is a place bet? By making a place bet there is a greater chance that you will be successful however the odds for a horse to place are lower and therefore the pay out will be less than if you had backed the horse to win. Punters could also choose a bet type which gives them the opportunity of a large pay out from a win bet and the security of a place bet.

What is each way bet? As you become better at picking winning horses then you may want to try a more complex bet. What is a Straight Forecast? What is a Reversed Forecast? To increase your chances of success even more you can choose more than one selection for first and second place. What is a Combination Forecast? Here you may have 3 or more selections and will need two of them to fill the first two places, in any given order.