what does back and lay mean on betfair , how does betfair work

How do I back and lay on Betfair?

‘Back-to-Lay’ betting is a technique whereby the bettor will place a bet on a selection at high odds, and look to lay the same selection at a lower price on an exchange platform such as the Betfair Exchange.

What is the difference between lay and back?

While in a back bet, you essentially say “this horse will win”, in a lay bet you are betting that a particular horse will not win. Therefore, when you place a lay bet on a horse, you are staking money on it not to win.19 Feb 2020

What does lay on Betfair mean?

To lay a bet is to back something not to happen. For example, to lay Manchester United to win their match is to back them NOT to win. If you were to lay them, you would win your bet if they either lost or drew their match.

Can I back and lay the same bet on Betfair?

It is in fact treated as 2 separate bets, therefore if you place a bet on a selection on the Sportsbook and lay the same selection on the Exchange you will need to have the necessary funds available in your balance to cover both bets independently. Our Sportsbook and Exchange products are independent from each other.

Can you make a living from Betfair?

For most punters, trading on Betfair for a living is just a dream. But why? The concept is simple; back high and lay low (or vice versa). It shouldn’t be that hard at all, and it really isn’t to those who have mastered it.30 Sept 2021

Can you make money laying on Betfair?

Resultantly, your lay bet earns a good profit. You can also place a lay bet with a hope that a certain number of lay bets would get coordinated, increasing the probability of earning profits from the lay bet that you have placed on the betting exchange platform.11 Feb 2021

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