Iceland drew Portugal, Hungary and Austria in Group F of the Euro finals, with the top two from the group going through to the next round, as well as the best third-placed team. It was a test for them, but their fantastic success in qualifying showed how capable they had become at international level in recent years.
Greece's historic success at Euro proved that smaller countries can thrive at the European Championships and, even with the new reorganisation to a 24 team event, Iceland had a chance. Once Iceland qualified from Group F, their odds dropped substantially, meaning it was then possible to place a lay bet to lock in a good amount of guaranteed profit. After their win against England, their odds came down even further.
I can grasp the initial scenario. I can also see the lay bet at 2. That is, lose 40p, or break even. Subtracting commission on the winning bet would mean that there would result in a definite cash loss. But, the Iceland scenario seems to me unfinished. What value should the lay liability be?
Half an hour playing about with the numbers will give you a great idea of exactly how it all works. This site uses Akismet to reduce spam. Learn how your comment data is processed. Low Risk Lay Bets. Lay Betting Strategy. What does Back and Lay Mean? You can see the back and lay odds below:. Lay Bet Liability. Lay Bet Calculator. Our free hedging calculator works out your back or lay stakes quickly. For example, if you are trading lay the draw and a goal is scored, our hedging calculator will tell you exactly how much to back the draw for so that you end up with equalised profit and the sought after Betfair 'green screen'.
Read More. Here is our handy guide to the different types of football bets. We explain them one by one so that you can start using each bet with confidence. Lay the Draw Trading. Lay the draw trading also known as LTD is still one of the most popular ways to trade football on Betfair. Here's everything you need to know to get started today, including betting vs trading, lay the draw exit strategies, insurance, Metaltone and more.
List of Betting Exchanges. Betfair takes the crown when it comes to betting exchanges, but the Smarkets Betting Exchange has been a brilliant alternative since launching in February The Betfair sportsbook and exchange is essential for matched bettors and professional football traders alike. Discover what makes it the best betting exchange. Betfair still leads the way, but the Matchbook betting exchange offers a quality service with just 1.
Can Ladbrokes finish the job? Read More about Football Trading. Is it really possible to make a guaranteed profit from football betting? Here is everything you need to know about football betting systems that work, right the way through from matched betting to Betfair football trading. We explain what 'draw no bet' means, what 'win draw win' bets are, how 'double chance' works in betting and more.
There are plenty of screenshots too! We explain back and lay betting very simply and with plenty of screenshots. This is how football traders back and lay on Betfair in order to make a profit. Football accumulators are hugely popular, but how do they work? We explain how football acca bets work and how to calculate accumulator odds.
Bob Reply. Well I did advanced maths A level at college but I cannot get my head around this! Greg Reply. Lay betting would allow you to bet on that team to not win the league. If anyone else wins the Premier League, then you win your bet. If they do win the league, then, of course, you would lose. Liability is an important concept to understand when learning about lay betting.
When you conventionally back a horse to win, the amount of money you can lose is your stake. Think of yourself as the bookmaker. If you lose your bet, the bookmaker keeps your stake. If you win, then the bookmaker has to pay out your winnings. It can be a lot more than your original stake. This is same as laying a bet. If the selection does win, you have to pay out the winnings. That potential payout is known as your liability. It how much you need to pay out if you lose your bet.
The horse is priced at 3. If the horse wins the race, then your liability is equal to the winnings for the backer. The horse is priced at 5. We wanted to put in this example since it shows how liability can quickly grow. At odds of For example, say you back Newcastle at 8.
During the game, they take a surprise lead. The odds for Newcastle to win this game shorten. By laying the same bet as you back, you are betting both on it to happen, and for it not happen. Because the odds have got shorter, you are guaranteed profit for doing so. This is similar to cashing out your bet earlier. Laying off your bet allows you to take reduced, but guaranteed winnings. Matched betting is legal in the United Kingdom.
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Lay bets can only be placed at an online betting exchange, like Betfair. Lay betting is an option on a betting exchange which allows gamblers to play the role of a traditional bookmaker. If the selection wins, you lose the backers stake multiplied by the price of the selection minus the stake amount.
This is a particularly relevant bet to make in a market that has 3 or more selections. Take a horse race as an example. The hot news is that a famous horse has come down with a mysterious illness. You spot an opportunity to make some money. In the old days, this would be a very difficult process that involves backing all of the other horses in the market for varying amounts.
Just as long as that horse fails to win, you win. This can be seen in the below image, with the red number showing your potential loss if that selection wins, and the green numbers your potential win if those selections win the race.
What you will notice are two different boxes. The blue box is your traditional back bet, and the pink one a lay bet. For the purpose of this example, we are going to show you how to place a lay bet on Paris Saint-Germain. Once you click the pink box, the selection will show on the bet slip on the right hand side of the screen. Once you add the selection to your bet slip, you can add the stake. The number circled below is your liability, and potential payout if the person taking your bet wins.
If there is someone who already has cash in the system at the same price, the exchange will match your bets immediately. Otherwise, you must wait for someone to take the price which you have offered. This is how our betting exchange of choice for this example, Betfair, make their money. But as we mentioned previously, lay betting is vital for matched bettors. On Betfair, back odds are displayed in blue and lay odds are pink.
In this example, Arsenal are the current favourites to win the Premier League with back odds of 2. A lay bet is the exact opposite, so you are betting on something not to happen. If you lay Arsenal, you are betting on Arsenal not to win the Premier League.
If any one of the other 19 teams wins the title, your lay bet wins. When placing a back bet, you can never lose more than your stake. However, when you lay a bet, the liability can be a lot more than your stake and you must be fully aware of the risk before placing your bet. In the Premier League example, Arsenal are 2. Just as you stand to lose your stake when backing Arsenal, a lay bet is opposite so you win your stake if Arsenal don't become champions.
If Arsenal do go on to lift the trophy though, your liability will be determined by the lay price and, again, it's the opposite of backing. When placing a lay bet, your liability is always removed from your account balance as Betfair has to assume the worst case scenario - that you lose your bet. Therefore, you can never risk losing more than the money you already have in your Betfair account. Once the Premier League winner has been decided, the market will be settled.
Bear in mind that you may have a large liability tied up for many months if you get involved in long-term trades. Our bet and lay calculator - also known as 'hedging' - helps you to calculate back and lay stakes quickly and easily in order to lock in profits. It's free to use and worth adding to your bookmarks. You can even add it to your own website, if you have one!
In the example above, laying Arsenal produced a larger liability than the potential profit. However, if you always lay under 2. Spend some time watching the Betfair markets and see how prices move - even without goals. For example, the price at kick-off will be a very high price to lay, but by half-time it's often a third of the starting price.
This movement is called 'time decay' and it continues all the way to the final whistle unless a goal is scored. It's much better than sweating on a goal because you couldn't wait to get into the trade and created a huge liability! Lay the draw LTD has been one of the most popular football trading strategies for many years.
It's a very simple way to get started with Betfair trading and - if you're patient - it can be very low liability. There are plenty of lay the draw strategies to take advantage of at various points during football matches and most professional traders use it a lot. Making money on Betfair is all about backing and laying at the right times.
For example, at the start of the —16 season, Leicester City were available at a huge price to win the Premier League but their odds were much shorter as they closed in on the title. Euro provided a profitable trading opportunity too. Unsurprisingly, the favourites were the traditional powerhouses of European football - Germany, France and Spain.
Further down the list, however, there were opportunities to back up and coming teams at high prices. Iceland were one of the major surprises during qualifying, finishing in second place in Group A. As they recorded a string of stunning results during - including wins home and away against the Netherlands - their odds to win Euro started to steadily drop. Iceland drew Portugal, Hungary and Austria in Group F of the Euro finals, with the top two from the group going through to the next round, as well as the best third-placed team.
It was a test for them, but their fantastic success in qualifying showed how capable they had become at international level in recent years. Greece's historic success at Euro proved that smaller countries can thrive at the European Championships and, even with the new reorganisation to a 24 team event, Iceland had a chance. Once Iceland qualified from Group F, their odds dropped substantially, meaning it was then possible to place a lay bet to lock in a good amount of guaranteed profit.
After their win against England, their odds came down even further. I can grasp the initial scenario. I can also see the lay bet at 2. That is, lose 40p, or break even. Subtracting commission on the winning bet would mean that there would result in a definite cash loss. But, the Iceland scenario seems to me unfinished. What value should the lay liability be? Half an hour playing about with the numbers will give you a great idea of exactly how it all works. This site uses Akismet to reduce spam.
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