Back and Lay in sportbook

[BitcoinGirl.Club]

I'm not an expert when it comes to different terms in sportsbook and gambling. I usually place bets on X to win, X to score etc in cricket and soccer both. I have never seen the terms "back" and "lay" in any Casino. Maybe I didn't notice them. I joined a casino today and found both terms and I'm confused what should I do. It says back (1.03) and Lay (1.04). What does these terms mean? Any easy explanation?

A quick google would have answered your question. When you place a "back" bet, you are betting that the team is going to win. The kind of betting you do in most of the sportsbook where you bet in a team that you think will win and if they win, you receive your payout. "Lay" is exactly the opposite When you place a "lay" bet, you bet that this team isn't going to win. You become the bookmaker here. If the team does win, you will payout x1.04 to the players (that backed for that team).

I have been in the gambling for over 15 years and to be honest I never seen such market yet LOL.

@Little Mouse, it would be kind to do a screenshot and post it please? I am interested to see the format of the market.

I am assuming it's a single team-wise market like in a football match for home team there will be to leg.

Team X
Back, Lay?

How about a draw outcome?

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[danherbias07]

Check this website. It was explained well and I didn't have a hard time understanding what it means. They also included some bet screenshots in case someone will be confused.
https://www.beforeyoubet.com.au/understanding-back-and-lay-betting-betfair

Back betting is your ‘usual’ type of betting that you’ve likely been doing with other Australian Sportsbooks. Simply put, it’s betting on an outcome to happen.

Example: I put $50 on Collingwood, who are paying $2.40, to defeat Richmond on Friday night.

This means I’m liable for $50.

Positive Outcome: Collingwood wins, so my back bet is successful. I win $2.40 (layer’s odds) x $50 (my stake) = $120

Negative Outcome: Richmond wins, so my best is unsuccessful. I lose $50.

Lay betting is a different type of betting experience that the Betfair exchange offers. In contrast to backing an outcome, when you ‘lay’ a bet it means you’re betting on an outcome NOT to happen.

Laying a bet is most popular with racing or sporting events with a big field of contestants. Some people prefer to lay bets rather than back bets, because it’s much easier to pick one horse/sportsperson that won’t win among a big field.

Example: I lay $50 on Novak Djokovic to win the US Open at odds of $3.00 and it gets matched by someone ‘backing’ him.

This means I’m liable for $3 (lay odds) x $50 (backer’s stake) = $150 - $50 (backer’s stake) = $100.

Positive Outcome: Novak Djokovic doesn’t win the US Open and I receive $50 from the punter that backed him to win.

Negative Outcome: Novak Djokovic does in fact win the US Open. I must now pay out $100 ($3 x $50 = $150 - $50 = $100) to the punter that backed him to win.

Back betting seems more simple than lay betting.
Looks like it is mostly used at Racing events where many players are playing against each other and not like just 2 teams or 2 players/fighters which most sports are.
It won't be that easy to win a back or a lay with that many competitors so it will be a competitive pick. I guess those who are only professional at betting on this type of pick will be the ones who can maximize their profits.
For newbies, this will not be a good choice.

[Little Mouse]

In other words, you're betting on the other outcomes.

It's not about betting on other outcomes. As I read, lay is all about being the bookmaker where I have to pay the winner. I have to pay the "back".

@Little Mouse, it would be kind to do a screenshot and post it please? I am interested to see the format of the market.

I am assuming it's a single team-wise market like in a football match for home team there will be to leg.

Team X
Back, Lay?

How about a draw outcome?

It's like as you said.
Team A Back- 1.03
Team A Lay- 1.04
I don't know anything about the draw outcome though. I haven't tried it yet since I had no idea. I'm not going to place bets on this market either lol.

[wiss19]

I'm not an expert when it comes to different terms in sportsbook and gambling. I usually place bets on X to win, X to score etc in cricket and soccer both. I have never seen the terms "back" and "lay" in any Casino. Maybe I didn't notice them. I joined a casino today and found both terms and I'm confused what should I do. It says back (1.03) and Lay (1.04). What does these terms mean? Any easy explanation?

I don't see any connection of that with the reputation of the casino at all, the terms are there in sports betting and they have their meaning and essence. A Back bet is simply a bet placed that indicates that a team or an individual or whatever is playing is going to win, and a Lay bet means that it is going to lose.

For example, if it's a football match between Barcelona and Manchester United, you put a Lay bet on Man Utd which means that they are going to lose the match, and if that happens, your bet is a win. The same could be done with Barcelona with a Back bet which means you think Barcelona will win the match.

[fullhdpixel]

I don't think it's inherently wrong to ask for help especially from a community as tight-knit as this. The notion that everything is a google search away is a little stupid especially id someone wants something explained to them in a clear way. I don't even think your comment is constructive enough to help OP in the first place, looks like you're trying to fill up comment counts for your signature campaign lmao. In any case, let me just reiterate that Little Mouse did nothing wrong with asking what a back and lay bet is. Regardless if he searched it on google or not. He's basically exercising a privilege he earned by being a part of this community, nothing else.

Hey! guy did I say it is wrong to ask questions here? I only made a suggestion where the answer can be gotten comprehensively. If those terms are explain here, I will also be a beneficiary because I have not heard and seen them before. So where is the insult coming from. Do you think Little Mouse is only your friend? He is also mine and a public figure in the forum. I didn't see any valuable point you made as well. I only asked the site he saw the terms and that doesn't mean he must provide, I can get the terms from google and read the meaning from there. And I don't know why you take it personal, have I offended you before?  If you are trying to meet up your quota with spamming the thread, I don't know for that. I am not like that. Little Mouse is my personal person. He is my friend as well.

Same here. I don't know the terms as well, so indeed that it's better if the questions like this are being asked in the forum rather than the curious person just google it directly. Sometimes there are search results that are not direct or there are different answers so it can still give a confusion to that searcher but for those who already know those things, they can provide a better answer and explanation.

I read the post above and I see that some users already gave an answer to the OP's question. Thanks to them because I also already know what those back and lay mean in sports betting and the reason why many of us are not familiar to that is it is mostly found in a fiat sportsbook.

[Stalker22]

In other words, you're betting on the other outcomes.

It's not about betting on other outcomes. As I read, lay is all about being the bookmaker where I have to pay the winner. I have to pay the "back".

No, that is not entirely correct. As I said before, "back" refers to placing a bet on a particular outcome to happen, while "lay" refers to offering odds on a particular outcome not happening.

Team A Back- 1.03
Team A Lay- 1.04
I don't know anything about the draw outcome though. I haven't tried it yet since I had no idea. I'm not going to place bets on this market either lol.

Yes, if you "back" Team A, it means that you are betting on Team A to win the match. If Team A wins, your bet will be successful and you will receive a payout based on the odds of your bet. However, if the match ends in a draw or Team B wins, your bet will be unsuccessful and you will lose your stake.

On the other hand, if you "lay" Team A, you are essentially betting against them. This means that you are betting on the other outcome(s) to happen, such as Team B winning the match or the match ending in a draw, depending on the specific terms of the lay bet.