Horse racing lay betting explained sum

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Instead lay betting is possible only on betting exchanges like Betfair.

ROTHERHAM VS WOLVES BETTING EXPERT

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Betting exchanges provide gamblers with all tools required to place both back and lay bets. Usually, you can see two columns of figures showing odds and stakes for backing and laying available for selections on a particular market. You can choose an outcome, which you think is less likely to happen and then you can go to a betting slip, where you can set your odds and stake with the help of a built-in lay betting calculator. However, prior to setting them, you need to understand how lay bets are calculated, since the process is somewhat different from that of usual betting.

We have already reminded you about how you usually calculate your possible wins and losses. For example, you are betting that Chelsea is not going to win and your shot is 2. But if Chelsea wins, you will suffer losses. The loss is calculated by the formula: your odds 2. Then what do we get according to our lay betting calculator? This is the amount you would pay to another gambler, betting against you, if the gambler wins — just like any bookmaker would do in traditional betting. So, it is not only the amount you risk losing, but also the amount you must provide for lay betting.

So, we have intentionally taken the figures giving the similar results, just to highlight the main difference in calculations. For one thing, it is not all about the amount of wins and losses — sometimes, this is just the only way to guess correctly and to get at least some profit.

But in fact, you have this smart lay betting system, which allows betting on an underdog, if there is one. So, why take chances backing an unlikely outcome, when you have the opportunity to lay a guaranteed loser? Both the above mentioned matched and arbitrage betting strategies involve lay bets in combination with traditional betting. Also, across the Web you can find tipster services like Lay Betting Code, which are focused on delivering forecasts on various sport events, thus giving you a nice chance to better define underdogs to bet on.

Many of them have both paid and free versions, so you can start using them and practicing on betting exchanges with no additional investment, except your betting deposits. Besides, you can take advantage of lay betting tips explaining how to place bets on the exchanges, if you have never used them. So, what is lay betting? It is just another possibility to make your betting more exciting and profitable, while discovering a new and promising world of betting exchanges, where you can be a bookie, while staying a punter.

A show bet is when you wager on a horse to finish in positions one two or three. Since the chances of winning are higher for this type of wager the pay-out prices are considerably lower than a win or a place bet. An across the board wager is a combination of the win, place and show bet. If your selection finishes first you collect on the win, the place and the show.

If it finishes second you collect on the place and the show. If it finishes third you only collect on the show bet. Example: When you bet across the board the first thing to bear in mind is that you are placing three individual bets. The optimal time to go for this bet type is when your handicapping points toward an outside competitor.

If the odds price matches your hunch i. They can reap huge profits, although they do require a more strategic approach and considerably more know-how. Exotic wagers are typically used by more experienced punters with a more sizeable bankroll as they can, very often, require you to lay out a fair sum of money in order to guarantee a profit.

A tricast Bet sometimes referred to as a trifecta is where you bet on three horses that you think will finish in first, second and third position in an exact order. This can become pricey if you use several horses, however pay-outs are sizeable if the selections come good. A reverse tricast, sometimes referred to as a combination tricast, is a variation of a tricast bet where you wager on which horses you think will reach home in first, second and third in any order.

This will increase the cost of your bet significantly as you are covering several different combinations, each of which is considered as a separate bet. Example: The cost of a reverse tricast is normally a little pricier than a normal tricast. Box trifectors can be broken down as follows:. The process of paying for multiple combinations just so you can cash in on a bet so it feels like a win is a bad method in the long run. A Forecast bet is when you wager on which horses you think will cross the finish line in the first and second positions in that an order.

You will only receive a payout if your chosen selections finish in the correct order. Much like tricast bets, pay-outs here can be sizeable, especially if the horses are showing good odds. A reverse forecast bet — or combination forecast as it is sometimes called — allows you to wager on which horses you think will finish in first and second in an exact order. This means that provided your selections finish in those top two spots, you will see a return. A first four bet also sometimes referred to as a Superfecta is an extension of the forecast and tricast bets.

Here you are required to pick the horses you think will finish in first, second, third and fourth in an exact order. Superfectas obviously have particularly long odds, however when they do come good, the payouts are substantial. For a straight superfecta bet you would select four or more horses in the race and wager on them to win, place, show or come in 4th place.

BETTING-TIPSTERS

If you don't Lay the winner, you could end up the opposite of "Skint" - you will clean up, with every Bet you Layed being a winner for you. In the 5 videos below, Betfair content shown is for demonstration purposes only, and is presented with the kind permission of The Sporting Exchange Limited. Lay up to 25 selections to an equal liability. This spreadsheet is suitable for any event - horse racing, football, cricket, tennis, snooker, etc. Use this spreadsheet to show the stakes required to Lay all runners for an over round book and a guaranteed profit whatever the result of a race, or Lay just a few runners to an equal liability.

Input the amount of your Total Payout, and as you input the odds of your selections, the spreadsheet shows Total payout on any winner remaining constant at your original input. The Lay stake required for each runner. Equal liabilities against each runner. Liability on each runner reducing as more runners are Layed. Percentage of your book at all stages.

Total of Lay stakes at all stages - "Skinner" amount. The more runners you Lay, the less your liabilities become. The more runners you Lay, the bigger the payout on a "Skinner" - a horse you haven't Layed. Dutching Laying to a Liability Target This Dutching method offers total control of your liabilities whilst you lay up to 25 runners.

Use this spreadsheet to lay up to 25 runners for a liability of your choice if you hit a winner. Dutching to a Liability target. The stake on each runner increases as more runners are Layed. The total stake your "Skinner" amount if you don't hit the winner increases as more runners are added.

Desired liability remains constant. This Lay staking method may be suitable for use with a staking plan. Lay big odds for small liabilities if you choose. Limit the amount you lose if you Lay the winner - in any sport. As you lay more runners, your liability remains at the level of your choice. As you lay more runners, your Total Stakes increase. If you don't hit the winner with your lays, all your lays are successful and you clean up with profit equal to the total of all your lay stakes.

A problem with this method of Lay Dutching is that the odds of all your selections need to be put into the spreadsheet before you start to place your lays. If you alter any of the odds or you add another runner, ALL the stakes will change in order to maintain your liabilities at your chosen level.

Click the Lay odds on Betfair and input your stake as usual, but don't hit "Submit". Do the same for all your selections until you have all your lays with stakes on show. Once you are satisfied with your staking, hit "Submit," and "Confirm" your Lays. All your lays will be submitted together in one go. Excel spreadsheets are a quick and reliable way of doing calculations. Purchase an excellent spreadsheet here for only a fiver. Dutch to a Lay Liability Target spreadsheet.

This Dutch to a Lay Liability Target spreadsheet calculates the stakes required to Lay up to 25 selections for an equal liability if you hit the winner with your Lays. The only inputs required are the names of your selections, the amount of the Liability that suits your comfort level, and the Lay odds of your selections. The spreadsheet shows the stakes required for each selection and maintains the liability on all selections at the level that you set.

As you input more runners, the stakes adjust and your liability always remains the same. The spreadsheet shows your Liability, total stakes, and for interest, the percentage odds of your selections, plus total percentage of your book.. This spreadsheet also has an Adjust feature which allows you to increase or decrease the size of your Liability on any individual runners whilst maintaining your chosen Liability target on all other runners.

You can therefore bias your liability on any runners that you think may be more likely to lose. Copy what an on-course bookie might do. Target 1 or 2 runners to lose. To use this laying method, you do not need to lay all the runners, but just a few. Whilst watching televised horse racing, television presenters often tell us that the bookies are targeting one or 2 runners to lose.

The spreadsheet below shows the staking for doing that. The bookies will lay most if not all of the runners, but only lose if the winner is one particular horse or maybe comes from 2 particular horses. A bookie may lay every runner, but we don't need to do that. We can lay just a few runners to use this laying method. There are 4 spreadsheets in this file which enable us to target 1, 2, 3, or 4 runners to lose.

We can lay as many runners as we like, but only lose if one of our target runners wins the race. If anything else wins, we have profit, even from lays that are not our targeted lays. That will work in any market, horses, football, golf, etc. To make this pay in the long term, you will need your own selection process for picking losers.

Whether that is horses, football scores, golfers or anything else, is ok. This strategy will work in any sport, any market. Bookies may Lay just a few runners against the field, in the hope that an outsider wins to give them a "Skinner". Using this strategy, we can do exactly the same. We can Lay just a few runners but have liabilities against only our targeted runner or runners. We will have a profit against every other non-targeted runner that we lay.

If you use this strategy, you don't Lay the whole field, but just a few of the runners. As we lay more runners, our liabilities against our targeted runner or runners go down. As we lay more runners, our profit against our NON-targeted runners goes up As we lay more runners, our profit from runners that we have not layed at all goes up - - all our lays would be successful and we clean up with a very nice profit Using this strategy, we win on all runners except our targeted runner or runners.

Our liabilities on targeted runners are reduced by our Lays on other runners. In this way, we have only our targeted runner or runners against us, but with reduced liabilities. All the others are running for us and will produce a profit. This is not the same as Laying a single runner. We are reducing our liabilities on our targeted runner or runners by laying lesser amounts on other non-targeted runners.

Supposing a race had 20 runners. We Lay horse 1. Then we Lay horses 2, 3, and 4 but with lesser amounts. The size of these stakes is dependant on the size of our larger stake on horse 1. In this way, we reduce our liabilities on horse 1 by Laying 3 other horses.

We could carry on Laying more horses if we wish. Once we have Layed our 4 horses, if the winner comes from horses 2, 3 or 4, we still make a profit. If horse number 1 wins, we make a loss, but our liabilities have been reduced by the successful Lays on horses 2, 3 and 4 If the winner does NOT come from the 4 horses that we have Layed, we have 4 successful lays, and clean up, with no payout.

This spreadsheet shows the stakes required to target one horse, 2 horses, 3 horses or 4 horses, and reduce the liabilities on those runners by Laying other horses. This strategy can of course be used in any market - - - football Correct Score, a golf tournament etc. In a football market for instance, you could target a single score line to lose, and Lay several others that you think might also lose.

For example, target and also Lay , , , and or any scores of your choice. If the game does not end in a win for the Home team, you are a winner on all other scores. You could target a single player not to score first, or a golfer or tennis player not to win a particular tournament.

In the videos below, Betfair content shown is for demonstration purposes only, and is presented with the kind permission of The Sporting Exchange Limited. Video 1 demonstrates inputs and how the spreadsheet works. We can Lay lots of runners but only show liabilities against 1 or 2 runners, with a profit shown against all our other lays. Lay several runners in a horse race, adjusting the stakes to balance your trade. Target 2, 3, or 4 runners to drastically reduce your liabilities on targeted runners.

The football match described near the end of this 3rd video ended with a score of You will need Excel or a later version to view these spreadsheets. These 1 or 2 Losers spreadsheets calculate instantly the Lay stakes required to Lay up to 20 selections to reduce the liability on either 1 or 2 target horses.

You could of course use this spreadsheet for any event other than horse racing. This Excel file contains 2 separate spreadsheets for your tenner. Once you lay more than 2 horses, a profit will be made on horses 2 to Once you lay more than 3 horses, a profit will be made on horses 3 to If none of the Layed horses win, you clean up with the total of all the Lay amounts staked - you have a "Skinner".

The less your liabilities become on your target horses The more profit you show on other Layed horses The bigger the payout on a "Skinner" - a horse you haven't layed. Stakes are calculated so that providing you hit the winner, each selection returns the same profit. Dutching can be a very effective way of betting on a number of selections in order to show a profit, but whilst increasing the number of selections obviously increases your chance of hitting the winner, every additional selection also reduces your overall odds, and reduces your profit.

If Laying when Dutching, the opposite applies. Whilst increasing the number of selections obviously increases your chance of hitting the winner for an unsuccessful Lay, every additional selection also reduces your overall odds, and any payout. If you miss the winner, all your Lays will be successful. You will clean up with a "Skinner".

Bookies, or Betfair traders who Lay several selections in an event, are in effect Dutching the market. I suspect that most traders will use the Simple Dutching method described below. There are 3 methods of Dutching shown here.

Each has its advantages over the others concerning odds input for calculation, control of total stakes, and profit target. Simple Dutching. Allows odds to be input in any sequence Stakes remain unaltered throughout There is no control of Total Stakes. Stakes Limit Dutching. The odds of ALL the runners need to be input before calculations can be done Stakes will adjust, if more selections are added.

There is total control of Total Stakes. Dutching to a profit target Maintains profit level regardless of number of runners or odds. As the number of selections increases, all stakes are adjusted to maintain the desired profit. Total Stakes can spiral alarmingly, especially if the odds are short.

Be A Bookie spreadsheet. This Be A Bookie spreadsheet calculates instantly the stakes required to Bet or Lay up to 25 selections to an equal Bet profit or Lay liability. You could use this spreadsheet for any event - horse racing, football, cricket, tennis etc..

Input the amount of your Total Winnings Bet , or Payout Lay including stake, and as you input the odds of your selections, the spreadsheet shows Total Bet or Lay payout on any winner remaining constant at your original input. The Bet or Lay stake required for each runner. As you add more selections, stakes on other runners do not alter. Equal winnings or liabilities against each runner. Liability on each runner increasing as more runners are Bet. Total Bet stakes at all stages. The more runners you Lay, the bigger the payout on a "Skinner" - a horse you haven't layed.

Set A Stakes Limit Dutching spreadsheet. This Set Amount spreadsheet calculates the stakes required to bet from up to 25 selections for an equal profit whichever wins. The only inputs required are the amount of your Total Stake and the odds of your selections. Your Total Stake amount remains constant no-matter how many selections you have The spreadsheet shows the stakes required for each selection to make an equal profit on any winner.

The spreadsheet shows your profit, and for interest, the percentage odds of your selections, and total percentage of your book. Dutch to a Profit Target spreadsheet. Win as much as you like, providing you hit the winner. This Profit Target Dutching spreadsheet calculates the stakes required to bet up to 25 selections for an equal profit whichever wins.

As you add more selections, the profit on any winner remains constant at the level of your choice. The only inputs required are the amount of your required profit and the odds of your selections. The spreadsheet shows the stakes required for each selection to achieve your required profit on any winner. The spreadsheet shows your profit, total stakes, and for interest, the percentage odds of your selections, plus total percentage of your book.

One of the basic strategies of trading on Betfair is to bet and lay Hedge a single runner as the odds increase or decrease. A Hedge can be successful on any movement of the odds, up or down. Odds increasing or odds decreasing dictate the order of Hedge transactions.

There are 5 separate Hedging Excel spreadsheets available here. Hedge a single Bet or Lay on one runner. Hedge a single Bet or Lay to a profit target. Stake to win any amount of your choice. Hedge your Bookie Bets. There is no need to anticipate a market move if you make these trades. You may be able to place a single Bet or Lay to Green Up for a guaranteed profit on your single Bet or Lay , no-matter where your horse finishes in the race, win or lose.

Alternatively, you may decide go along with the market move by placing a series of Bets or Lays on a runner, with the intention of Greening Up by equalizing your trade closer to the starting time of the race. You could equalize all your trades on that one runner with a single Bet or Lay for an equal profit or loss whatever the result, win or lose. You could place one or more Bets and Lays on more than one runner, and later equalize your trades by placing single bets or lays on each runner, for an equal profit or loss whatever the result, win or lose.

Note that. These Hedging spreadsheets show the stakes required for a range of different odds, thus eliminating the need to re-input the odds if there is a market move whilst you are trading. These videos demonstrate the Hedge 3 Bets spreadsheet - how it works and what it can do. As with most other forms of betting, it is possible to win a specific profit from Hedging. It isn't easy to forecast a market move, and most of us can't even predict which way the market will turn, but if you have your own views, you can trade to a specific profit using a Profit Target Hedging spreadsheet.

The Hedge to a Profit target spreadshee t available below may be used to work to a staking plan, or to recover lost stakes etc.. Hedge using 2 different markets, a Bookie and Betfair, and you don't need to anticipate movement of the odds. Mostly, bookie's odds are slightly shorter than Betfair odds, but as markets fluctuate, bookies are not always quick to respond. Where bookie odds are bigger, you may be able to trade to a guaranteed profit, without having to anticipate which way the odds are likely to move The odds have already shortened.

A drawback of this strategy is that if your selection loses, you have commission to pay on your successful Lay. Overcome that problem with this Hedge Your Bookie Bets spreadsheet. This spreadsheet shows the stakes required to trade a Bookie Bet and Betfair Lay to an equal profit whatever the outcome, including commission on the Lay side of your trade. Hedge A Single Bet. Trade using just 2 transactions, a Bet and a Lay, or a Lay and a Bet. This Hedge spreadsheet calculates instantly the bet or lay stake required to make a profit no-matter what the outcome of any event, provided the bet odds are higher than the lay odds.

Input your initial stake and the Bet and Lay odds for instant calculations. The spreadsheet can be used for trading - you can bet and lay the market for a particular runner, golfer, football team, cricket team, tennis player, etc. Bet first, or lay first, it makes no difference, providing the Bet odds are greater than the Lay odds, this spreadsheet covers both eventualities - Bet first or Lay first. Hedge a series of Bets or Lays on a single runner.

This Hedge Several Bets spreadsheet is ideal for trading several transactions on a single runner, team, etc. This spreadsheet calculates instantly the Bet or Lay stake required to equalize your trade. Shows your current position in the market. Decides for you whether you need to bet or Lay in order to equalize your trade. Shows 16 odds increments, with associated stakes for equalization. Shows the effect that equalizing at each of those 16 odds would have on your present position.

Allows 20 Bet and 20 Lay matched inputs. Hedge several Bets or Lays on up to 3 runners. Built specifically for trading the Match Odds market of football matches on Betfair, this Hedge 3 Bets spreadsheet is ideal for trading several transactions on up to 3 selections.

The spreadsheet calculates instantly the Bet or Lay stake required to equalize your trades. Input the odds of your Bets and Lays to mirror your Matched Bets and Lays on Betfair, plus the current odds, and the spreadsheet Shows your current position in the market for each individual selection.. Shows your current position in the market for all 3 combined selections. Decides for you whether you need to Bet or Lay in order to equalize your trade.

Shows 9 odds increments, with associated stakes for equalization. Shows the effect that equalizing at each of those 9 odds would have on your present position. Allows 10 Bet and 10 Lay matched inputs for all 3 selections 60 in total. Make an equal profit no-matter what the outcome.

Hedge correctly whilst the odds move in your favour, and you cannot lose. Lay 7 Trebles. High street bookies accept multiple bets every day. Some bookies offer incentives to encourage punters to bet in multiples such as trebles. That is a clear indication of how much bookies value these kind of bets. Now you can copy what they do by Laying several trebles.

The spreadsheet below shows the stakes required to Lay up to 12 selections in 7 separate trebles. With 12 selections, there are a possible treble combinations, but this staking plan covers only 7 of them, leaving you with less than a 1 in 30 chance of hitting a winning treble combination with your 12 lays. The treble combinations shown below , are arranged so that each selection appears a maximum of only once in any other treble.

For example, your first selection appears in only 1 treble. Selections 2, 3, 4, 5, 6, 7, 8, 9, and 10 appear in only 2 trebles each, whilst selections 11 and 12 appear in only 1 treble. If you were a bookie offering this multiple trebles bet, your customer, the punter could have the first 7 winners on his betting slip, and not have a winning treble. Also, if his first 4 selections were losers, and then his last 8 selections were winners, he would not have a winning treble.

Normally when you bet on a double or treble, you select just one runner per race and any winnings are carried forward onto the next part of your double or treble, but when you Lay doubles or trebles, you don't have to Lay single horses. As a Layer, you may choose to start several trebles in the same race, and guarantee several losing trebles in your first race.

Suppose you decide to Lay 7 trebles. I n theory, you could start 7 separate trebles by Laying 7 selections in one race, and in doing so, you could guarantee that at least 6 of those trebles would fail, since there could only be one winner. You would have at least 6 successful Lays , and if you were unlucky enough to hit the winner, one unsuccessful Lay. Of your 7 trebles, only one could possibly have stakes carried forward to the second part of the bet.

This Lay 7 Trebles spreadsheet allows a maximum of 3 or 4 selections in any one race, depending upon the progress of your trebles. If you don't hit the winner with those 3 or 4 selections, all of your 7 trebles will fail, and you will have 7 points profit. Lay 4 runners in your first race. All 7 trebles could fail, giving you a 7 point profit. If you hit the winner with Horse 1, only 1 stake would be carried forward to the 2nd part of a treble. If you hit the winner with Horse 2, 3, or 4, a maximum of 2 stakes would be carried forward to the 2nd part of 2 separate trebles.

Lay 1 runner in a second race. If you hit the winner, stakes would be carried forward to the 3rd part of one treble. If necessary, place your final Lay on the remaining treble. You may of course, Lay less than 3 or 4 runners in each race. The spreadsheet below, shows the Lay stakes required to Lay each treble as they progress. Lay one runner at a time, or more than one runner.

The spreadsheet shows the stakes required to Lay 7 trebles from 12 runners, with in theory, a less than 1 in 30 chance of hitting a winning treble. This Lay 7 Trebles spreadsheet calculates the stakes required to Lay each runner of your trebles in sequence. The only inputs required are the amount of your basic stake, and the odds of your selections. As your trebles progress, the spreadsheet shows. The stake required for each runner.

Your profit from successful Lays so far The liability of your current lay. Your Bank - profit or loss on losers and winners so far. Lay or Bet a Yankee. The Excel file available below contains 2 spreadsheets.

One spreadsheet shows the staking required for Laying a Yankee one runner at a time, and another for Betting a Yankee one runner at a time. These spreadsheets are designed for use in an exchange such as Betfair, but commission in the spreadsheet can be set to zero so that the betting sheet can also be used for betting one selection at a time with a bookie, or bookies if required. The idea is to lay or bet your selections one at a time so that you know the result of one event before the next starts or kicks off.

The spreadsheets can be used to bet or lay any sport or a combination of different sports. As we are betting or laying one selection at a time, the bets or lays can be spread over any timescale, all on the same day, one per day perhaps, or even one per week etc.

The write-up below describes the Laying spreadsheet. T he bets your bookie loves to Lay can also be Layed on Betfair or any other exchange. Multiple bets are the bread and butter of being a bookie. Bookies like nothing better than Yankee and other combination bets. Some major bookies are so keen to accept these bets that they even offer bonuses to encourage punters to bet using a Yankee, Canadian, Heinz, Union Jack etc. Now is your chance to follow their example, and Lay as many Yankees or Union Jacks as you like on Betfair or any other betting exchange.

You select the horses, golfers, football teams etc. Your selections will be Layed one at a time, so can be in any market, and can be spread over any time scale. As you know, a Yankee is 4 selections combined in 11 bets consisting of 6 doubles, 4 trebles and one 4 timer. If just one of the 4 selections loses, 7 bets fail, leaving just 3 doubles and a treble.

Unlike a bookie, if you Lay a Yankee on Betfair using this spreadsheet, you don't have to Lay the whole 11 bets. This offers the opportunity to take advantage of 7 successful Lays from one loser. For example. You place your first Lay, and the selection loses. You are 7 points up. You could trouser the winnings, and start afresh with a second Yankee. If your 2nd Lay loses, you are 14 points up from just 2 losers. A bookie cannot do that. He can only gain 11 stakes from all 4 losers in a Yankee since he has to see out the whole bet.

Please refresh the page and retry. B etting exchanges are a great alternative to the traditional online betting site offered by bookmakers and they are gaining in popularity for sports betting. Some bettors can shy away from betting exchanges and lay betting because the concept seems overly complex.

However, they are a great way to get the best odds on sports and give yourself the best chance at winning. This guide will demystify betting exchanges, and explain the basics of how to use them to get the best value from your bets. The main difference between a betting exchange over a traditional bookmaker is that, with an exchange, you are betting directly against other players. Backing a bet on an exchange is the same as doing so with a traditional bookmaker, and simply involves selecting an outcome and deciding a stake.

Rather than simply backing a bet on Chelsea to win, you are able to lay a bet on Arsenal not to win. This bet is matched with another player on the exchange. After finding the match on a betting exchange, you will see two colour coded columns under each outcome to show decimal odds for backing and laying.

These colours vary across the exchanges but on the Betfair Exchange, the blue column is for backing a bet and the pink column for laying a bet. Imagine you are the bookmaker in this situation. This stake figure is the amount you are willing to accept as a bet and, in the event that the outcome is in your favour, it is the amount you will win.

For our example, this means that if Chelsea win the match or it ends in a draw, you will win this stake. However, in your lay betting role of acting as the bookmaker, you are liable to pay out winnings if Arsenal win the match. For our hypothetical match, we will say that the odds of your lay bet were 3. When you are choosing what stake you are willing to accept, your liability will always be shown to you. You will only be allowed to accept stakes where the amount in your exchange account is able to cover your liability.

While it is possible to find people to back your lay bets at odds away from the main market value, it is not a given. If you want to make sure your bet is backed then it is best to accept the market value, or not stray too far from it. This is the simplest way to lay a bet. Finally, it is always important to check that your lay bet has been backed by other players before an event starts. They are only valid if other players has backed your bet, either in whole or part.

The main reason for using an exchange over a bookmaker is the unique ability to lay bets with them. There are other major advantages too, such as the prices usually being better. Many experienced players use these enhanced prices to guarantee profit from advanced betting techniques, such as laying off bets or acting as an arbitrageur. It is also easier to place larger bets, which traditional bookmakers can shy away from accepting, on an exchange.