Lay Betting Sites

Lay betting is one of the latest innovations in the sports gambling industry. This form of betting involves placing bets on something not happening. It’s available at betting exchanges, and in contrast to other forms of online gambling, players placing lay bets are acting as bookmakers.

Due to the potential returns, lay gambling companies are becoming more and more popular. If gambling is one of your favourite things and you are looking to learn more about lay betting sites, then this page is a perfect match for you. Read on to learn more about exchanges betting before you can try it out at your favourite bookmaker.

What is Lay Betting? 

Wagering against results is the concept behind lay betting. If you look at any of the leading betting sites, you will discover that they’re laying every bet on their respective websites. It’s then up to the bettors to decide whether a given outcome will happen in an event, and if they do, they can back and lay it. This means that the bookmakers are in control since they select the bets as well as the odds. 

The only choice available for the customers is to accept or decline them. As an example, punters might want to back a given horse to win a race since they have some great information. But they have searched all of the bookies, and they cannot find a favourable price that they’re happy with. In the past few years, that would be tough since there were only two options, leave it or take it.  

Nowadays, bookmaker customers have another option. They could decide to lay their bets on bet exchange sites instead. At these sites, punters can set the odds against the horse winning. And the best part of setting the odds is that they will be better than those that bookies are offering. The set odds are then likely to be utilised by other bettors. If you are setting the bets, you should ensure that they’re still lucrative for you.

How Does a Lay Bet Work?

Placing of a traditional win wager in the world of exchange is referred to as a Back Bet. And the best way for you to understand this form of betting is to think that you are backing a given event to happen. For example, you are backing Manchester United to win the Premier League. The bet for this is primarily the same as the win wager with a top bookmaker. If you decide to go against the wager or play the part of a bookmaker, then you are laying a bet.

Using the example above, if you lay a bet, it means that you want Manchester not to win the Premier League. If it is the normal football match, and you back Chelsea to beat Arsenal, it means you want Chelsea to win. If you’re laying the bet, then you want Arsenal to win or a draw. The best thing about exchange bets is that you can lay certain outcomes.

For instance, you do not think that there is no way the Chelsea vs. Arsenal game will end in a draw, you can lay the draw. This way, if either club wins, then you will make some significant amounts of cash. You will only lose money if your prediction was not correct and the game ended in a draw. This might seem a little confusing, but it is straightforward than you can think. You just need to understand the role of the backer and the layer. If you can back a horse in horse racing, a player, or a football team, then you are a backer.

The only difference is that, unlike in traditional bookmakers, the odds are better than those available at the sportsbooks. While the backer is the player who’s taking the wager on, the layer is the person who provides the odds. What is appealing about the best betting exchanges is that any individual can be the layer and place a wager against sporting events available. If you lay bets at your best betting exchange site, you take the role of traditional bookies.

Liability and Liquidity

When you lay a bet, it is vital to understand exactly how betting exchanges work. Unlike when you back the bet, you’re not entering the stake with profits based on your odds. In lay betting, the maximum profit that you can win is the minimum stake that you enter into your exchange betting site, and the liability you could payout is based on the odds you set. In simple terms, the wager could cost you some cash, so you need to have a budget set aside for that.

Aside from liability, another important thing that you need to know about lay bets is liquidity. This’s primarily the amount of cash that you can stake at a given price for a particular betting market. Liquidity is not a huge factor for high profile events and competitions. It becomes a problem at the lower profile events since it is challenging to find the price and markets you want to back or lay the bet on. 

Also, at every betting exchange, you’ll find disparity in liquidity, with Betfair exchange having a higher market share compared to other sites. What is attractive about lay betting sites is that you will be able to quickly see the sort of wager you place and how it impacts each of your picks in the betting market.

The Commission

Up to this point, you might be wondering what is in it for the betting exchanges. The betting exchanges only take a 2 commission from winnings, meaning layers will not have to spend any of their hard-earned cash. Backers who win will only pay a given percentage of their profits in 2 commission.

Each one of the best betting exchanges has its own 2 commission rate. And for reference, the latest market customer base rate charged by top betting exchanges such as Betfair sits at 5%. However, other betting exchanges are currently trying to offer better exchange commission rates to attract as many new customers as possible.

To calculate the actual amount of money that you will pay as a commission, betting exchanges multiply the current chance market base rate with the net winning amount. At Betfair exchange, the discount rate is applied based on the number of points that you have accumulated over time. 

Each time you place a wager at Betfair, you receive a given number of points, which can help you boost your discount rate. This is just like a loyalty programme that other online betting platforms offer.

Exchange vs. Bookmakers 

It is normal for human beings to compare things that share the same elements before they can decide what is suitable for them. When it comes to betting, you will find exchanges and bookmakers. As a normal human being, you will want to know some of the differences that exist between these two types of betting sites, especially in terms of the benefits that they offer.

Advantages of Exchange Betting Sites

If you want to enjoy a free market betting environment where sportsbooks are not cutting into your profits, then online betting exchange sites should be your final gambling destination. With an exchange account at one of the top-rated sports betting platforms, you will enjoy the best betting odds on the market as well as prices with outstanding value. One of the most attractive features of exchanges is lay betting. 

As mentioned earlier, lay betting is simply backing something or an event not to happen. Traditional bookies do not have this feature, meaning you must take or decline the markets and odds offered. Another benefit that exchanges offer is that putters like you are the ones that set the prices. This means that they can set good prices that backers can take advantage of. And what is more, exchanges do not put any limits in place. If any player out there can match your wagers, then you are sure to win something.

Advantages of Sportsbooks 

The obvious benefit that traditional sportsbooks offer is that they have prices for a wide range of events and markets. With exchanges, you are more likely to find prices on major events and markets only. So if there are no major events, it means that you will not back lay or place a bet. Also, with sportsbooks, you are sure to access lots of options, such as the ante-post markets for an array of events.

This is excellent, especially if you have spotted an opportunity or an early value. Additionally, you will never see your wager go unmatched at your favourite bookmaker. As an exchange bettor, there is nothing worse than seeing the value that you have identified turning into a waste just because no layer has placed a bet on your prediction. The sportsbooks will always appreciate your efforts by giving you everything that rightfully belongs to you.  

If you love taking advantage of some great promotions and bonuses, then sportsbooks are a perfect option for you. These platforms make sure that both new betting customers, as well as existing players have a range of incentives to take advantage of. You will find plenty of free bet offers, matched betting bonuses, and VIP programme rewards, to name a few of them. These bonuses come with terms and conditions, so sportsbooks request players to go through all of them before they can accept any deal.

The Best Betting Exchanges in the UK

After merging with Flutter.com in the early 2000s, Betfair became the first and leading betting exchange in the UK. Liquidity is the key factor for any successful trading site, and the merger has ensured that Betfair remains a top betting exchange across the UK and other parts of the world. Currently, Betfair offers some free bets and a generous welcome bonus, not to mention lots of betting options available and a player-friendly commission rate.

Betdaq is another popular exchanges betting platform that accepts players from the UK. Established in 2000, it is the second-best exchange site, and it still trades with the Betdaq branding even after Ladbrokes acquired it in 2013. At the moment, Ladbrokes provides access to betting exchanges from its main site. While it’s popularly known as the Ladbrokes exchange, it’s the same betting lay platform as Betdaq. Similar to other leading exchanges in the UK, Betdaq offers an attractive betting market and generous promotions.

Launched in 2008, Smarkets is one of the latest UK betting exchanges. The betting exchange platform features a user-friendly interface, and above all, it is easy to use. However, Smarkets does not offer a wide range of betting markets. The best thing is that its betting market covers almost all major events from across the universe. Smarkets is increasingly becoming popular due to the excellent liquidity and a friendly commission rate of up to 2%.

Matchbook is among the well-known betting sites in the United Kingdom. The bookmaker was established in 2004, and it was until 2011 when it became more popular among players. Matchbook offers a unique commission structure with a low rate of up to 1.7%. However, it charges a commission on all sports bets and not just winning wagers as with other online betting exchange sites. Over time Matchbook has built an excellent reputation for high liquidity markets, especially when it comes to football and horse racing.

What to Consider When You’re On the Lookout for a Top Betting Exchange?

All of the exchange platforms mentioned in this piece of content are great, so your final destination will depend on your unique needs and requirements. However, some features can help you find a perfect betting website. Below are the main features:

Exchange Commission

Since you are looking for a perfect betting exchange, the first thing you should consider is the commission rate. You should make sure that the commission rates are friendly enough. Sites with friendly commission rates such as Smarkets are ideal for an exchange player.

Many punters join platforms that allow them to pay anywhere between 1 and 5% commission on all winning wagers. If you create an exchange account with a site with this commission range, then you will be sure to enjoy some great returns.

Safety and Security

A safe gambling environment is paramount for any betting or exchange site. All of the recommended betting destinations hold licenses from the UK and other reputable regulatory authorities. 

Additionally, they have a massive range of safety and security measures in place, ensuring that the information and funds of their customer are 100% safe. Many reputable exchange platforms use 128-bit encryption technology to ensure their sites are well-protected.

Promotions and Bonuses

Bonuses and promotions are not common on exchange platforms. However, a top site must have at least a welcome offer for customers at new betting sites and some free bets for loyal gamblers. Some of the common promotions available at a range of lay betting sites include the likes of bet 10 and get 10 free bets, bet 10 each day and claim a weekly free bet offer or a matched betting bonus, among others.

Before you can hit the claim now button, you should read all the terms and conditions available. The most important thing that you need to keep in mind is the free bet bonus wagering requirement. You must bet the number of times indicated before requesting a withdrawal.

Mobile Compatibility

You should be able to lay the bets not only on your desktop or laptop device but also on your mobile gadget. Whether it is through a browser or an app, all top exchange websites must provide their players with the best gaming experience. As a mobile user, you must access the same services available for desktop customers at the exchange platform, including markets, matched betting offers, payment methods, and customer support, among others.

Customer Support

Sometimes, understanding how a lay betting site works can prove to be tricky. And as a result of this, you may need support services more often. The best sports betting websites offer top-notch support services through live chat, email, and phone. Support services should be available 24/7 across all the three channels.

Lay Betting Tips and Strategy

When you are operating on online betting exchange sites, it is vital to have a strategy and some tips. If you have them, they will help you boost your chances of winning. So if you are looking for some tips, there is no need to worry since this section has got you covered. It has some helpful tips for you. Just scan through them and pick those that you feel can help you.

• Pick the Best Betting Platform: If you want to be a successful exchange bettor, you must sign up with a great lay bet website. A good site will provide you with a huge range of events to lay the bets on and have favourable commission rates. When you lay the bet at a top site, you are sure that punters will access the bet and wager, increasing your chances of winning.
• Develop Your Strategy: Once you have joined a friendly platform, you should be able to develop a long-term betting strategy. Doing so will help you to minimise losses and maximise your profits. 

Some bettors may decide to place multiple bets on one sporting event to minimise potential losses, while others lay a single bet. Before you can set your price, you should collect some information along the way. 

• Recognise the Liability: The liability determines the amount you can lose when you place a lay wager. Compared to traditional bookmaker betting, you can lose lots of money as a lay bettor. So you must weigh all the risks as well as your potential returns.
• Understand the Odds and Market: Many lay betting websites use decimal odds. And you can convert them to fractions if you want. However, it is advisable to stick with decimal since it is easy to understand. The best thing with decimal odds is that they’re more accurate and provide the much-needed transparency. 

The market is another thing that you need to understand. Before you can start to lay the bet, it is important to have information about a certain market or sport. If you have good information, you will be able to make excellent decisions that will significantly increase your betting exchange winning chances.

Final Thoughts

It is clear that exchange platforms offer lots of benefits to players. And the best thing is that this article has provided everything that you need to know. Go through our recommended exchanges list and choose a platform that meets your betting needs.