BACK & LAY at Betfair
A brief explanation for BACK & LAY bets:For all betfair newcomers we would like to summarise the most important informations about betting at betfair – the worlds biggest betting exchange. Read all about how betting at betfair works (introduction): After choosing a certain market/game at betfair – in that case the football match Dortmund vs. Bayern Munich – you can find the following screen by a click on MATCH ODDS
Example A – The „BACK“ bet:
How to place a BACK-bet (betting FOR something)
NOW, with the LAY-OPTION, it becomes a little tricky compared to the well known common betting (BACK bet) After you have chosen to LAY a win of Dortmund in our sample (you bet AGAINST Dortmund to win) you can sell this bet for € 10 (see screenshot) at an odd of 4,3.
Confirm that bet by a click on the button „confirm“ – right hand side at the bottom!
It holds for bet on TIE OR WIN OF THE AWAY TEAM.
| ATTENTION: COMMISSION OF UP TO 5 %: Bear in mind that Betfair charges a commission of up to 5 % from the profit of your bet that means your account will only be credited by 95 % of the profit you generate (95 % of € 31) If you lose your bet you do not have to pay any commission |
Overview for potential profit & loss
After the end of the described bet the situation looks like this:
Example B – The „LAY“ bet:
How to place a LAY-bet (betting AGAINST something)The main difference of betting at betfair to betting at regular bookies is that you have the option of betting AGAINST a team/result/etc. as well. If you are not happy with an odd offered (BACK odd) you can be your own bookmaker by betting AGAINST a certain outcome and sell your bet by offering a so called LAY-Bet! Doing so, this equals a DOUBLE CHANCE BET as you bet against Dortmund in our sample and you win your bet if Bayern wins and also if the result is a draw.
How to place a LAY-bet (betting AGAINST something)
NOW, with the LAY-OPTION, it becomes a little tricky compared to the well known common betting (BACK bet) After you have chosen to LAY a win of Dortmund in our sample (you bet AGAINST Dortmund to win) you can sell this bet for € 10 (see screenshot) at an odd of 4,3.
Your betting account looks like this after the end of the bet::
- You will win € 10 if Bayern wins
- You will win also € 10 if the result is a draw
- But you risk € 33 if Dortmund wins
(You can see it also below)
Confirm that bet by a click on the button „confirm“ – right hand side at the bottom!
It holds for bet AGAINST TIE OR AGAINST WIN OF THE AWAY TEAM.
Overview for potential profit & loss
After the end of the described bet the situation looks like this:
BETTING AT BETFAIR IS BY FAR MORE INTERESTING THAN BETTING AT COMMON BOOKMAKERS
WE HAVE TO ADMIT THAT IT IS MORE TRICKY BUT IN THE END IT MAKES MUCH MORE FUN AND OFFERS A LOT MORE OPTIONS TO WIN!