Welcome thanks for dropping by.
Before we start on these three Lay Staking Plan software, it would be remiss of me to presume you are all familar with the term Laying and how it works.
If you are up to speed with laying stop reading this section and dropout of this blue section, down to the next section.
Lay betting is only available on the betting exchanges.
Laying is the betting that an event or result will not happen, so the opposite to back which is betting and event will happen, like Phar phap will win the race.
So lets look at the two sides of that bet.
Phar Phap, is listed at Back 2.50 and the Lay price is 2.55, what does that mean?
OK on the back you will know that is you put up $1.00 to win on Phar Phap, and the Back Price is 2.50, the that odds represents 1.00 is the stake (your money) and the 1.50 is how much you will win before the exchange commission is taken into account.
So if the horse wins, you will get 1.50 profit plus you 1.00. Less the commission say 5% this is off the 1.50 so 7.50 cents is commission= 1.425 profit.
You get back into your account $2.425 and that is a back bet on the exchange like betfair.
Laying is the opposite side to that bet.
So on the exchange, there has to be a layer to offer you money so you can back your horse in this case Phar Phap.
The layer is the punter that is offering you the 1.50, he is saying that Phar Phap can not win and he is risking 1.50, which the backer is happy to accept.
So where is the Lay price of 2.55 we metioned earlier?
That is there because the backer that is not happy with 1.50 and want 1.55 (1.00 stake +1.55profit)= 2.55
Sounds confusing but once you read it a few times and see it in action it is easy.
So for every bet on the exchange, there has to be a layer and a backer, as the bets need to matched.
What the Backer gets and risks?
He risks his stake, no more than that, so if he bets $1.00, that is all he can lose, if he wins he gets the profit less commission plus his stake back.
What the Layer gets and risks?
He is risking in most cases more that the staking amount, (only if the bet is odds on less than $1.00 return on a $1.00 bet, does he risk less than his stake).
If the bet is 2.50, the layer risks, on a $1 lay, $1.50, to win $1.00 less commison so .95cent profit.
So on a horse showing 5.95, on a $1.00 lay the layer is risking 4.95 loss should the horse win. And if the horse loses he will get $1.00 profit less commission.
So why would you lay and risk in most cases more that you can win?
Because you have in the case of horses and dogs, all the field running again the dog or horse you have laid, and the return you get is a reflection of those chances.
And in sports, eg football correct score for example, you lay scoreline 1-0 at say 7.50 (risking a payout of 6.50), unless the match finishes at that exact score you are going to win the bet.
For that privilege you are paying out 6.50 to have every other score working for you.
Simple way to remember:
Back is an event will happen.
Lay is an event will not happen. |