Back and lay, how you can create no risk profits on the betting exchanges
It is obvious and instinctive what we mean by
wagering, the placement of money on the expectation
of an outcome, for example Roma – Lazio (1) means
selecting the odds given by the bookmaker and
betting on a victory for Rome.
Many bookmakers also allow you to "lay”,
i.e. they accept the hits of other users. We
in fact replace the bookmaker, we become the
bookmaker. Banking
on Rome at 2,3 means accepting the bet of a user
counting on Rome. In substance, it is like counting
on the opposite outcome, that is that Rome does not
win (draw or defeat).
This arrangement offered by some bookmakers in
accepting different wagers, laying, could be
effectively capitalized by us to reap a profit
giving you a sure bet. In
what way?
It’s simple, we can simply target a given outcome at
the odds offered and bank the same outcome at lower
odds. Even here, distributing the amount
appropriately between the odds and laying, we can
ensure that whatever the outcome of the match, a win
would be mathematical.
For example:
I place €100.00 on a victory for Rome with odds
given of 3.6 and at the same time bank on a Rome
victory with odds of 3.2 at another bookmaker for
€112.50.
There could be two possible outcomes:
1) If Rome draws or loses, I will lose the €100 bet
but I win €112.50 that I laid; net win = €12.50
2) If Rome wins, I will win the amount bet on the
target 100*(3.6-1) = 260 net while I will lose the
exposure that I laid, having accepted the others’
wagers, that is I lose 11.50*(3.2-1) = €247.50. The
net win is still, however, €12.50
Be careful when you lay – some bookmakers apply
commissions to net wins. It would therefore be a
good idea to consider the odds given in line with
commissions.
Latest update
22/06/2008
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