Understanding Favorite bets – back early, then lay
Understanding Favorite bets are one of the most important things for anyone who wants to be PRO in betting. The lay and back is a well-known concept in the betting world used by experienced players.
However, this article will offer a simple explanation so that novice players have an idea of what it is to play a back and lay strategy. It is important to know it so that you can gain experience in playing it without problems and become one of those master players.
Table of content:
- Understanding Favorite bets – back early, then lay
- What are exactly Lay and Back in betting?
- To calculate the risk we must bear to make a lay bet we use
So what are exactly Lay and Back in betting?
A back is the same as a bet in favour. Betting in favour consists of placing a bet on the team, player, or a proposition to win a match. It is the same as we do in traditional bookmakers, so it does not present any difficulty.
For example in Barcelona – Betis:
We believe that Betis can give the bell and get a draw at the Camp Nou, and we see that the back (or bet in favour) is at 11.5. If we bet #100 in favour of this we will be obtaining net dividends of (11.5 x 100) -100 = #1150.
Remember that: Net dividends = (C * A) – A = A * (C-1)
From where A is the amount wagered or bet and C the available odds.
This amount will have to subtract up to 5% commission that the bookie takes from each bet won. This percentage varies from 1 to 5% depending on your activity on the bookmarker.
In back bets, the risk always matches the amount wagered.
On the other hand, we have the lay (or bet against). This is the main advantage and novelty that the bookmarker introduces compared to other bookmakers.
Betting a lay is the same as betting against a certain player, team, or proposition. In lay or against risk bets, it never matches the amount bet, unless the odds are 2 or even.
Let’s continue with Barcelona – Betis example
We see that the quota in favor of Betis is 25 and the quota against 26 (per every amount wagered). You might want to ask if the betting that Betis does not win is quoted at #26 per naira bet. Well, it’s possible. The price is much lower since when you act as a bookmaker, you are offering the user a quota of 26, bearing the risk yourself.
If we bet #10 against Betis at this fee we will have a risk of 250 naira, or what is the same, we are risking 250 naira to win 10 (from which it will be necessary to deduct the 5% commission in case our bet is a winner), which doesn’t seem like a good idea.
Using the Correct Score System as A Football Betting Strategy
To calculate the risk we must bear to make a lay bet we use:
The risk assumed in a lay share: C-1.
For example, we have the following lay odds in Villarreal – Sevilla:
Villarreal lay 1.98, In this case, the risk is 0.98 naira ours for each naira of estimated profit. In the case of betting #10 against Villarreal, our amount at stake or risk will be #9.8.
Tie lay 3.75, In this case, the risk is #2.75 ours for each naira of estimated profit. In the case of betting #10 against the tie, our amount at stake or risk will be #27.5.
In the case that Sevilla lay is 4.5, the risk is #3.5 ours for each naira of estimated profit. In the case of betting #10 against Sevilla, our amount at stake or risk will be 35 naira.
