Lay bets are the most popular form of betting among punters. Lay betting allows you to bet on an outcome that is not going to happen. Thus, irrespective of who wins the bet, as long as the one on whom you have bet loses, you win the bet.
Online gambling has been growing well in Bangladesh. The small Muslim-majority nation has a large young population. Thus, they have found online betting a quicker way to make money. Physical casinos do not operate in the country, due to their strong anti-gambling laws.
Matched betting could be a great learning tool for the people in Bangladesh, in case they learn to use it properly. But, you must remember that sports betting desires a bit of strong luck, more than strategy.
What is Liability in Betting?
The Liability in Bettings is the money you need to have in a betting exchange to cover the lay bet. To give a more clear picture, let’s say that your lay stake is BDT 100 with a liability of BDT 500. Then, you need an additional BDT 500 in your betting exchange account to place the lay bet.
Now when you place your lay bet at the exchange, the account balance automatically goes down due to the liability amount. Let us consider a case where the bookmaker offers an odds of 2.0 on Bangladesh to win a match against Sri Lanka.
Now, you have decided to place a BDT 500 bet on Bangladesh to win. Now, if Bangladesh wins, the bookmaker will reward you INR 500 as stake and INR 500 as winnings. Thus, you will be up by BDT 500 and the bookmaker will be down by BDT 500.
In case India does not win, the bookmaker keeps your stake of BDT 500. Now, you will be down by BDT 500 and the bookmaker will be up by BDT 500. The bookmaker will always be bound to give you BDT 500, in case your bet wins.
Example of Liability in Matched Betting
For a better understanding of Matched betting liability, let us consider the following example. Let’s say that you have BDT 1000 in your account and you have placed a bet of INR 100 with a liability of INR 500. Now, your account balance will drop by BDT 500.
But, the rest of BDT 500 will remain intact for use. In matched betting, your liability is locked, once the lay bet is placed against the back bet. The liability locks itself until the results are out.
Also, in matched betting, it is irrelevant whether your lay bet wins or loses. It is because the opposite bet is done with the bookmaker, who will return the money to your account. This is why it is a risk-free betting mode.
How is Betting Liability Calculated?
The betting liability is calculated by multiplying your odds by the bet stake amount. Then, you can subtract the sum from your original bet stake amount. For example
- If you are betting BDT 500 with the betting odds of 2.0, the result will be BDT 1000. Now, when you subtract BDT 500 from it, the liability would be BDT 500.
- Similarly, if you are betting BDT 500 with the betting odds of 3.0, the result would be BDT 1500. Now, if you subtract BDT 500 from it, the liability would be BDT 1000.
- Again, if you are betting BDT 500 with the betting odds of 4.0, the result comes as BDT 2000. Now, when you subtract BDT 500 from the sum, the liability comes as BDT 1500.
The liability can also be calculated using the following formula:
Liability= {Backer’s stake * (Lay odds-1)}
Now, if the odds are 2 and if you stake 10, then the calculation of the liability goes as::
Liability= {10* ( 2-1)}= 10
Conclusion
Matched betting is a legal practice that could help you earn big and guarantee good profits. The users in Bangladesh can make good profits as well, using the matched betting calculator. Also, the liability examples discussed above could help you understand the concept clearly.
But, matched betting is something that the bookmakers do not appreciate. It is because they tend to lose money when more people start practicing it every day. Thus, you must be aware of it, else they could even suspend your account.
FAQ’s
What is the Liability of Matched Betting?
To put it in simple words, Liability is the amount that you are bound to lose, in case you match a bet request and your Pros bet wins.
Does Matched Betting guarantee a profit?
Matched betting is typically a low-risk form of gambling. It helps to bet on sports events and can help you make guaranteed profits, in case you bet strategically.
Is Matched Betting Legal or Ethical?
Matched betting is not a version of gambling. Matched betting is a legal and ethical way of making money. It helps in taking advantage of bookmakers by using mathematical equations.
