A Beginner’s Guide to Lay Sports Betting
When you’re using your smartphone or tablet to back a favourite or support the underdog, a big part of having as good a time as possible is finding the best mobile sports betting sites. As important as this is, however, it’s really only the beginning. There’s a lot more to placing successful wagers.
You need to understand the sports and events you are putting money on, the odds that have been set and, crucially, all your options. To start off their journey most people, choose simple straight wagers and advance over time to the more complex or exotic options.
Over time and with developing insights, other options should be explored and considered. We’re here to help with every part of your experience, which is why we’ve got guidelines to different wagers as well as write-ups to sportsbooks and other useful information. With that in mind we’ve put together some pointers on different stakes, including Lay Betting.
You Get to Play the Bookmaker
“Laying” a horse is the opposite to “backing” a horse; that is, you are wagering on a horse losing rather than on a win. You even get to decide the odds of the wager that you set! If there are 6 horses in a race and you lay one of them, you have 5/6 chance that you’ll be right. With a conventional backing bet, you have just a 1/6 chance.
That’s really all there is to it, and it certainly does increase your odds of getting something back. Lay Bets can also help you understand where bookies’ motivation for the odds that they set comes from, which allows for shrewder decisions when you’re simply backing a horse.
As an active punter yourself, you’re also in a unique position to understand the psychology and thought processes of those who are backing the horse you chose. The catch is that you have to pay out if the horse actually wins, which can get quite expensive. Don’t ever use money that you don’t have, in the hope that you won’t need to pay the backer.
These types are possible in many other sports, but like Each-Ways they’re not really appropriate for single matches where you can simply predict that one of two teams or contestants winning; the opposition automatically loses. They work best in the context of Horse and other forms of Racing, and in tournaments where a range of competitors will finish in different places.
You Need to Use an Exchange
These bets are not possible at the conventional sites for online sports betting Canada has available; you’ll have to visit an exchange if you’re interested in getting into these stakes. These exchanges match your Lay with someone else’s Back, and then make a profit by taking a small commission from the winning side. As a backer, exchanges can also be more valuable than conventional bookies because you get to decide the price you back at. When you’re wagering in this way, it’s worth looking at the odds on exchanges as well as your usual sportsbooks to find where the best deal is.
Playing the Long Game
Lay betting is truly for the well-practiced, more advanced enthusiast, who has a lot of experience and has evolved past simpler options. You need to have an eye for poor-value selections, which are the best to lay odds on, and to understand the processes of other gamblers in much the same way that players at a Poker table need to. Developing the skills and insights it takes to be really successful takes time, but it’s really enjoyable and potentially very lucrative.