Lay betting can expand possibilities of online betting, it opens new opportunities and betting systems. By placing lay bets punters take the role of a bookmaker. So it may seem that lay betting can guarantee more profits than simple back bets.
First of all to use lay betting you need to register at betting exchange. Only betting exchange give the option to lay. When you place a lay bet you will lose if your chosen selection comes true but win if any other selection except your selected comes true. It’s like backing but upside-down. Also, profits always stay the same as your amount of stake, but losses are calculated from odds. Literally, you take the role of bookmaker because for every simple back bet placed there is lay bet placed by bookies.
Lay betting opens new ways of betting. There are two great lay betting systems:
An advantage of this system is that it’s almost completely risk-free just like betting arbitrage. The aim of this system is to clear free bets and bonuses offered by bookmakers. It eliminates the possibility to lose by matching bookie and exchange bets. Although this is not a long-term profit system as bookies promotions will run out sooner or later, but you can get fairly decent money out of this. If you want to read more about this system, here is a great Matched Betting Guide.
This one is similar to financial trading, but instead of buying currency or shares you use bets. If you lay at lower and back at higher you can guarantee risk-free and only profit outcome. Key here is to predict the movement of odds. Trading can be done pre-match and as well in live matches. In live matches, odds are affected by events in a match.
These two are most popular lay betting systems. If you’re willing to try both I recommend to start with Matched Betting as you can safely build up your bank. And then you can start trading with money earned from the first system. By doing so you will not risk your own money.