In sports betting the concepts of
"back" and "lay" usually go together and are
associated with bets placed in one direction or the other. They are very common
in matches where two teams compete, although some bookies may allow
"backear" or "lay" bets in other sporting events where more
than one team is involved.
The concepts back and lay in sports betting are
associated with what is sometimes simply known as layback, a concept
associated with experienced users as they are almost always the ones who make
use of these bets.
Before we continue, let's clarify concepts: lay
and back are antonyms, but the term "layback" is used as a noun to
refer to lay / back bets.
When we talk about lay and back, we refer to a
type of betting in which one bets against or in favor of a team. In other
words, you bet on a team to win or lose. Its essence is very simple, but
the way to extract the full potential of back / lay bets is what makes it
predominantly professional bettors who get the most out of this type of bet.
Something very important to understand how lay
betting works is that you bet the amount you want to win, not the amount you
want to risk. This very basic concept is the one that often leads those who
make the leap from other types of bets to lay betting to make a mistake. When
they make a mistake in the amount they put at stake, the result is far from the
expected one.
To succeed with the lay in sports betting, it
is essential to follow a simple mathematical rule to obtain the desired amount
we want to win. And, yes: the amount we "want" to win also depends on
a formula, because it is not only what we want to win, but what we can
afford to bet to seek victory. Any bet outside these margins is not at all
guaranteed to be viable in lay betting.
How do we calculate the layback?
Winnings = (Desired Amount x Odds) - Desired
Amount
Going by layback in betting has its advantages
and disadvantages. Main advantages:
However, it also has its handicaps:
Back and lay bets are, respectively, bets
placed for or against a team winning. However, something that looks like
a 50-50 that we can leave to chance is not something that depends only on luck.
The basic thing if we want to stop losing
money is to understand that a layback bet allows us to obtain effective
profits as long as we know how to keep our bankroll under control. Otherwise,
we will not avoid losing and we will expose ourselves to a lack of funds to
continue betting.
Therefore, it is essential to set a ceiling on
the amount we bet, taking into account the necessary amount we want to
win and what is our stack.
But timing is crucial in this type of betting,
whether we bet for or against. Normally, professional users tend to place their
back / lay bets at strategically chosen times: for example, after 75
minutes if there is a draw, or in the last minutes if one team is ahead, as you
will be more likely to place a back bet in favor of the advantaged team.
How to have a better chance of squeezing the potential
of the bet? By doing a good analysis. As it happens in games such as poker,
having a great analytical capacity to improve decision making is crucial. Our
judgment will be key to support the decision to make a back or lay bet at a
specific moment of the event.
This is the main reason why layback bets are not
suitable for inexperienced users. You don't get that analytical ability out
of thin air: it takes experience and experience to be able to correctly judge
the odds of getting the most out of a back/lay bet in order to get it right. If
you don't have it, your decision making will be inadequate, and you will be
exposed to a constant stream of losses.
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