Back and Lay bet is one of the most interesting forms of cricket betting. But, it could be an unknown term for many gamblers. Also, they could find it difficult to understand and practice the same.
Sports betting is considered a game of luck. But, you also need good strategies to win those bets. With better data collection and research, it becomes easier to crack the code. Learning and practicing well before getting into sports betting is always advisable.
The advanced punters use back and lay betting to get a managed return. This practice can reduce loss and could even guarantee a win. Back and Lay betting can help enhance your odds in sports wagering.
Gambling is socially and lawfully unacceptable in Bangladesh. It is a small Muslim majority country that follows Sharia law. But there is no mention of online gambling in Bangladeshi laws. Therefore, online betting companies have made their way into the market.
Back and Lay Betting: Explained
Back and Lay follows two simple concepts. The punters bet on two outcomes- positive and negative for an outcome. An outcome is said to be positive if it favors the bet. The outcome is termed negative if it goes against the outcome.
For new gamblers, it could be tough to comprehend. However, it is very simple to understand, if educated properly.
A Lay Betting is betting on an outcome that is not going to happen. Lay betting is an example of a negative outcome. Its major application comes in horse racing. But it is also practiced in various other sports, including cricket and football.
In Lay betting, punters bet against another punter for an expected outcome. The betting could be done digitally or among a group of friends. The loser then would have to give his money to the winner.
A Lay betting could be understood using a simple example. Let’s say we bet on Australia at 4.0 to not win the Cricket World Cup 2022. So, it does not matter where Australia would end up in that tournament. As long as they do not win the World Cup 2022, the punter would make good returns.
Back Betting is the more traditional form of betting practiced to date. It is the kind of betting that involves a positive outcome. The punters back the outcome of an event to win. If the outcome is positive they win the bet. If the outcome is not in their favor, they lose the bet.
Just like in Lay betting, punters could bet among themselves or digitally. The punters win the bet depending on the probability of the outcome. Back Betting is the most preferred form of betting that the punters go with.
Back betting can be understood using a simple example. Let’s say we bet on India to win the Cricket World Cup 2022. To win this bet, India must win the World cup. If not, then the punter would lose the entire sum that he bet.
Punters can also bet on individual events as well. For example, they can bet on whatever over of the cricket match, the most runs would be scored. They can bet on the batsman, who would score the most runs in the match, etc.
Know More About Back and Lay Odds
The back and lay odds can be understood with a quick example.
Back Bet: I bet 1000 rupees that Sylhet Sunrisers will win the Bangladesh Premier League
Lay Bet: I bet 1000 rupees that Sylhet Sunrisers will not win the Bangladesh Premier League
Now the most favored bet will be selected based on the popularity of that bet. The most popular bet would have a lesser winning amount. The lesser popular bet would always have the best winning odds.
So, always bet on the odds that are the least favorite to win. Only then you would have a chance to win big. This is a risky move and that is why fewer punters bet on the same. Betting on least favorite odd is the way to go.
How to Place Back and Lay Bets?
Horse Races are the games where the Back and Lay Bets are practiced the most. But it has slowly been incorporated into Cricket and other sports as well. Betting using the two odds is simple and can be understood easily.
For example, if we chose to bet on a UEFA Champions League game between Real Madrid F.C and Liverpool F.C. The match is going to be played at Anfield, the home of Liverpool F.C. Now, considering that Liverpool F.C is a strong team at home. The punters would have two options now.
The first option would be an old-school tactic of placing a double bet on Liverpool F.C. That means, bet on either Liverpool F.C. win or a Draw. The problem is that bookies never want to give away their money so easily. Thus, a more profitable business for them would be to go for a Real Madrid F.C win.
Betting on underdogs would be the most profitable thing for punters. But not many would have the guts to bet on the underdogs. Hence, it would get lesser bets and in turn, more profit for the bookies.
Back and Lay Betting Tips
Back and Lay betting is a risky way to bet. But, there are no rewards without risk. So, when you gamble using bet and lay, there are a few backs and lay betting tips that you must be aware of:
Patience is the Key
Patience has its rewards. The key to winning a back and lay bet is to be calm while betting. Yes, you can panic because after all, you have to bet big. But the key is to have patience and wait till the end to get it right. Self-confidence is a must thing to have, once you pick your bet.
Research brings Rewards
Good research and background check are recommended before placing the bets. There are plenty of scams going on in the gambling market. Also, a better understanding of bets before placing one won’t harm anyone.
Trade only what you can Afford
You must keep your expenses in check. Do not chase high rewards, even if they are lucrative. Always keep a fixed budget and bet inside your budget only. Gambling has led people towards bankruptcy in the past. Thus, you must keep your expenses in check.
Master one Sports at a Time
Make sure you have enough knowledge of the game before placing a bet. Because knowing about a sport is one thing, betting on it is altogether different. Start with the games that you understand. Then, slowly navigate to betting on other sports.
Understanding the Flaws
Bet and Lay has several flaws that you need to be aware of before betting. Always remember that the odds always favor the bookies. Thus, to succeed, you must know the hidden flaws and tricks before betting.
Back and lay betting is one of the popular betting systems available in the market. The above-mentioned tips and tricks might help you to understand it better. Also, it’s important to keep in mind that you must bet responsibly.
The odds are always stacked in favor of the bookies. So, you must understand the rules of the game and bet before placing one. Bet and Lay can help you win big money, but could also lead you to bankruptcy. So, play responsibly.