Backing at an Exchange
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Hi,
Sorry if this is a daft question, but what is the difference between backing ‘no’ and laying ‘yes’ at an exchange? For example, at Betfair today you can lay ‘yes’ at 3.35 and back ‘no’ at 1.43 for Middlesborough to keep a clean sheet.
+0December 4, 2015 at 3:01 pm
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Just to clarify, on a bet that only has two outcomes why would there be a difference between laying ‘yes’ and backing ‘no’?
Lay Yes – Betting against Middlesborough keeping a clean sheet
Back No – Betting that Middlesborough will not keep a clean sheetIn both instances you have bet that Middlesborough will conceed a goal haven’t you?
+0Think they both return the same. A tenner on no makes 4.30 and I think to make the same 4.30 on the lay you risk losing 2.35 X 4.30 (liability) which is around a tenner.
+0Thanks jamiea,
What about if you can get higher odds at another bookies for Middlesborough to keep a clean sheet, could you back ‘no’ at the exchange to make a profit?
Middlesborough clean sheet at William Hill £10.00 @ 3.0 = £30
£30 @ 1.43 at BetFair backing ‘no’ = Liability £30, profit £12.90So a clean sheet would win you nothing, but if they concede a profit of £2.90 (not a lot I know, just wondering if it was viable).
+0Wouldn’t the outcome of what you said above be:
£10 @ 3.0 = £10 loss or £20 profit
£30 @ 1.43 = £12.90 profit or £30 lossSo in your example you are either making £2.90 or losing £10.
If you meant to back ‘no’ for 20 @ 1.43 this would either win you nothing for a clean sheet or lose you £1.40.
I think you might find it simpler to stick to standard back/lay for the moment, that way you are backing/laying the same thing each time and you can be sure that you have selected the right thing, also the odds will be closer which reinforces that you have picked right.
+0Thanks LennieB, I had included the stake in the £30 profit which threw my figures. I’m still new to matched betting, I will take your advice and stick to simpler bets until I have a better understanding of how it all works.
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