Betting Exchanges such as Betfair have become increasingly popular, mainly because they offer a unique service called the lay betting system. This has enabled them to quickly establish themselves as a modern alternative to the traditional bookmaker. One of the many reasons for their huge success and popularity in recent years, is the ability to use lay betting systems (take bets), thereby enabling individuals to conduct their lay betting system activities without any involvement from a traditional bookmaker.
One of the biggest Betting Exchanges in the world is called Betfair, who offer their customers the unique advantage of playing the role of a bookmaker, by allowing the 'lay betting system' as part of their service, offering a real alternative to the conventional 'back betting system'.
Lay betting systems, playing the role of a bookmaker - let me explain!
To put it really simply, betting exchanges offer you the ability to use your own judgement about an event that you think will not win. You can then use the Betfair lay betting system to place a lay bet on that specific event because in your opinion it cannot possibly win. This is referred to as 'lay betting' or 'lay betting system'.
Gone are the days when you were restricted to using just a traditional bookmaker, who would only allowing you to use the 'back betting system' to find a winner. Like never before, betting exchanges now offer you the lay betting system facility. By harnessing the power of the betting exchanges together with unique lay system betting, you can now win by simply using a lay betting system to lay bet a loser.
Betfair lay betting systems, let me explain with an example of how the lay betting system works...
Consider this, your favourite football team is playing at home and you feel absolutely certain that a draw is most certainly out of the question, simply because you have been watching their progress closely throughout the season.
Example of lay betting system match odds on Betfair are:- Team-A 5/2, Draw 2/1, Team-B 5/2.
Lay betting system odds of 2/1 on Betfair, here's an explanation of how to use them:- The lay betting system odds for the draw are 2/1 in this example, therefore lay betting the draw for say £10 then...
If the result of this football match did end in a draw then you would lose £20 (2 x £10).
If you played the role of bookmaker by using lay system betting to lay bet the draw and this football match did not end in a draw, then you would get to keep the £10 stake money (less a small commission for Betfair).
Lay betting systems on Betfair explanation: Using lay system betting in the above example is exactly the same as placing a £10 bet at odds of 2/1 with a traditional bookmaker but with one vital difference. A traditional bookmaker will keep your £10 stake money if the bet loses, but if you use the Betfair lay betting system then you will get to keep the stake money, in just the same way as the bookmakers have always done.
Betting exchanges offer a variety of lay betting systems on almost any sporting event imaginable. People from all walks of life can now experience the thrill and excitement of lay system betting on almost any sport. This could be cricket, football, rugby, horse racing, or maybe golf, in fact if it's a sport then you can probably lay bet the outcome.
Here's another lay betting system example - looking at horse racing this time you will discover how, when using a lay betting system it is possible to stack the odds very much in the lay betting systems favour, instead of the traditional way of using a back betting system, when the odds are usually stacked against the back bettor.
BACK BETTING SYSTEMS: In this example we will use an average 12 runner horse race. With the traditional 'back betting system' you would need to find the winner of the race, in order for you to win the bet. This means that you only have 1 horse running FOR you (this is the horse that you have bet on to win) ALL of the other 11 horses are running AGAINST you. If your selected horse fails and any one of the other 11 contenders go on to win the race then you lose you stake money (this is called 'back betting' or 'back betting system').
LAY BETTING SYSTEMS: Using the same horse racing example as above with 12 runners. If you used the lay betting system to lay bet just one single horse in a race by using a betting exchange such as Betfair, the odds will be very much stacked in your favour, simply because with lay system betting you create a situation where only one horse is running AGAINST you (the horse that you have lay bet to lose the race). If any one of the other 11 horses actually go and win the race, then you win your lay bet (this is known as 'lay betting' or 'lay betting system') because you have put yourself in the unique position of having ALL of the remaining 11 horses in the race actually running FOR you.
I realise that lay betting systems might sound a little confusing, particularly if you know absolutely nothing about the subject. However, the potential profits are there for the people who take the time to learn all they possibly can about betting exchanges and lay betting systems in general.
Let's face it - you must agree that picking a horse to lose in a 12 runner horse race is much, much easier than trying to pick the winner of the race. I hope you can see the possibilities here, by making sure that the odds are stacked very much FOR you when using the lay betting system, instead of AGAINST you when using the traditional back betting system.
-Lawrence Taylor-
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