It also is the act of staking a set amount of your money at an event but a lay bet is a wager for something NOT to win. The Lay BetĪ lay bet is the opposite of a back bet. This means the risk for the customer in this scenario would be $10 whereas the bookmaker’s risk is $90. The potential return from the bookmaker would be $100 if the team wins. The hope of the back bet is to win more money back from the bookmaker if your chosen champion/s wins.Īn example of a back bet would be staking $10 on a sports team to win with match odds at 10/1. Examples of this could be a sports team, a horse, a dog, or an individual person. The act of placing a back bet is to wager a set amount of your own money on something to win at an event. T&Cs apply, 18+ Understanding the Back BetĪ back bet is a term used for a conventional bet placed. You can then go on to repeat this process with different bookmakers’ free bet bonuses to make sure that you keep turning your bonuses into real cash without you having to put any more of your own money down. Whenever a back bet is placed, a secondary lay bet (Betting against the back bet outcome) is also made. By placing two bets instead of one on the same event the strategy is to cover any outcome using free bet wagers from different bookmakers. Matched betting however employs a technique that utilizes the free bets to the gambler’s advantage. In a traditional betting style, a customer can use the free bet to place a single wager on an outcome, but this has no guarantee the outcome will happen and that the free bet will return a win. These best sports betting deals often come in the form of betting a certain amount and gaining the same amount back in free bets for people who sign up for their site for the first time. With the theory that no matter the outcome, you can reduce or even eliminate the risk and convert these free bets into money.īookmakers online use a variety of offers to entice new customers. Matched betting is a system that uses bookmaker “free bet” or welcome promotions to place two bets that oppose each other.

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