BACK / LAY odds equivalencies (for those who use Betting Exchange)

[reactorjuno]

Hi folks,

I recently had a conversation with @sygambler about betting exchange services, when he mentioned about orbitexchange (I personnally use Betkeen (Easysportbet) but both have the same odds I believe).

So if you have been familiar with betting exchange to bet on sports, you should know about Back odds and Lay odds.
As an experienced user of Betfair, I recently made my own odds table, the purpose is simply to know in which case Laying is more profitable than Backing, and vice versa.

So in this table, you will find the equivalencies.
I'll explain:

Back @ 1.10 is the same as Lay @ 11
Back @ 1.25 is the same as Lay @ 5
Back 1.40 is the same as Lay @ 3.5
etc.

However, in some cases, on two outcomes events, it is possible to see that Laying will be more profitable than Backing.

Just an example here:



If you think Alexander Zverev will win, it is more profitable to place a Lay bet on his opponent.

If you back Zverev @ 1.05 for a stake of 1000 EUR, you will win 50 EUR (commission excluded)
But if you lay Mahut @ 19, for the same risk of 1000 EUR, you will win 56 EUR (commission excluded)


This is a sample of my table:





I uploaded the file, and it is now at disposal of the community. You can download the odds table here > https://files.fm/u/pqd5nvba
(If the file is no longer available, just send me a PM and I'll send it to you)



Best of luck all!  

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[reactorjuno]

Another example I found just now:




If you want to bet on Juan Martin Del Potro to win the match, what's better? Back him @ 1.18 or Lay his opponent @ 6.4?


Well it's actually better to place a Lay bet on Verdasco, since a Lay @ 6.4 is the equivalent of a Back @ 1.185.


See here:





Best of luck!

[shanem]

Laying a bet gives you slightly better odds than placing a bet but have you look at the difference in the limit between placing a bet and laying a bet?
Based on the screenshot provided, you can place a higher bet when you back the person/team compared to laying his opponent.

[reactorjuno]

Laying a bet gives you slightly better odds than placing a bet but have you look at the difference in the limit between placing a bet and laying a bet?
Based on the screenshot provided, you can place a higher bet when you back the person/team compared to laying his opponent.

Yes, that's correct, the liquidity available also matters. Actually 1.185 and 1.18 does not make that big of a difference   but in the long term it's always a plus to have the better odds, always. As we say, take care of the pennies, and the pounds will look after themselves.

[btcdevil]

Laying a bet gives you slightly better odds than placing a bet but have you look at the difference in the limit between placing a bet and laying a bet?
Based on the screenshot provided, you can place a higher bet when you back the person/team compared to laying his opponent.

What you said is correct but you get more benefit from laying as if for example a cricket match bet you have layed for 1.10 odd on first batting and then they performed well and the odd goes up 1.40 odd then immediately you can cash out and get profit which is more soonner as you dont have to wait for the match result.

This is the main benefit of betting exchanges where you can make book both side profit and be safe.

[reactorjuno]

Laying a bet gives you slightly better odds than placing a bet but have you look at the difference in the limit between placing a bet and laying a bet?
Based on the screenshot provided, you can place a higher bet when you back the person/team compared to laying his opponent.

What you said is correct but you get more benefit from laying as if for example a cricket match bet you have layed for 1.10 odd on first batting and then they performed well and the odd goes up 1.40 odd then immediately you can cash out and get profit which is more soonner as you dont have to wait for the match result.

This is the main benefit of betting exchanges where you can make book both side profit and be safe.

I never really do that actually but many who have knowledge like to Lay a big favorite early in the match. What I like to do is trade offplay though, mostly on favorites. I rarely do it in soccer though, as a bad news about an injured player could make the price move in the wrong direction.

For instance, I will back Back Djokovic @ 1.10 at the US Open against Gasquet, because I am fairly sure it will be possible to Lay Djokovic @ 1.08 before the match starts, there is no way he'll lose to Gasquet anyway, and the market knows that, and will bet heavily on him. 
If I bet 2000 EUR, this trade can get me about 35 EUR profit without risk, because I'll win whatever the final outcome is.

It's just like Bitcoin trading or stock trading, I like to do it on small variations, in your example, Laying @ 1.10 and Backing @ 1.40 is a huge profit but with with risk involed, so this is gambling at this stage (oh, good we are in the "gambling" section of the forum  ).

But yes I see your point, many big favorites tend to be a little overrated by the public.

[SyGambler]

another great thread , thanks for the examples as well
yeah sometimes laying gives better payout than backing , the thing is that I mainly use orbit exchange for horse racing make this not helpful since there are plenty of selections to choose when it comes to horse racing

but yeah when there are 2 outcomes then it pays out to know what exactly to bet
this link can also be helpful to know the odds after commissions for both backing and laying
https://www.bettingexpert.com/how-to/calculate-betting-commission

[justflyaway]

Hi ,,reactorjuno,,

Interesting topic about back and lay odds, i must say. I've been looking for the files You uploaded, but it has already expired. Could You please send me that entire back/lay odds table to my email. Since, You don't allow newbies to text You, i couldn't reach you through PM. I would be very greatfull for that. (finchm@seznam.cz). thank You.

[klidex]

Laying a bet gives you slightly better odds than placing a bet but have you look at the difference in the limit between placing a bet and laying a bet?
Based on the screenshot provided, you can place a higher bet when you back the person/team compared to laying his opponent.

However, it can provide higher profit results so it doesn't matter about the risk.
Every gambler who makes a bet definitely wants a large amount of victory even though they have to bet a slightly larger amount anyway. How they place the bet is their choice because basically everyone wants the same thing, namely to get a win.
So you don't need to think about it too much.