Millions of pounds profit is made each year by the bookmakers. They make most of this money simply by taking back bets from people who think that the outcome of an event will win. This is known as the traditional way of 'back' betting. The bookmaker keeps your stake money if the bet loses. If the bet wins the bookmaker pays you your winnings. You become the 'backer'.
A 'layer' is the complete opposite of a 'backer', it's basically the same as playing the role of the bookmaker. Since the introduction of betting exchanges such as Betfair, you now have the unique opportunity to lay bets in the same way as a bookmaker. If the outcome of the event that you lay bet does indeed lose, then you get to keep the stake money just like the bookmaker. You become the 'layer'.
As the saying goes "you rarely see a poor bookie".
Therefore, you may ask the following question:-
If you can make money from lay betting in the same way as a bookie, by being a 'layer', why would anyone want to be a 'backer'?
Well, it depends on what you expect to achieve from lay betting, also what your general betting expectations are. Let me explain ...
The back bet - typical 'backers' attitude ...
Someone looking for a 'quick fix', knowing that each time they make a back bet the odds are stacked firmly against them, they are lured into 'backing' based purely on a hunch, or a betting tip, maybe from a mate at work. The temptation is too much to resist, with the prospect of a good win looming, simply for handing over a relatively small amount of money.
If you enter a bookmaker's premises you will often observe many 'gamblers' with their lists of lucky numbers, betting tips, hot tips etc, going about the same routine always used to make their selections. A couple of minutes before each race, they hurriedly glance through the race card, make their selection then run to the counter to place their back bet, then invariably watch it lose. The strange thing is that they follow this same pattern race after race, day after day, week in week out ' and the bookies love them!
Now, I am not suggesting that every backer falls into the above categories. Sometimes, 'backers' will strive to put in the extra work needed, helping them with their final betting selections, by analysing stats, studying form, maybe taking advice, of following good quality betting tips etc.
If you fall into this category because you have developed your own unique method for selecting that really hot horse in a race, or statistics might be your thing, giving you a profitable edge to your favourite sport before you decide on that all important back bet. If so, I wish you luck because you have done extremely well, but you are very much in the minority.
The lay bet - typical 'layers' attitude ...
There is one very important thing that most 'backers' and 'layers' are likely to have in common ' they both want to make as much money as possible in the shortest possible amount of time. This fact is undoubtedly true, but with some important differences. The 'layer' will not be expecting to make a killing from just one lay bet, therefore is likely to be more patient and better prepared, safe in the knowledge that the Betfair lay bet is readily available.
All successful 'layers' must develop a really strong attitude towards risk together with a highly disciplined approach to lay betting. Patience is also extremely important to ensure that you only lay bet when there are strong indications of a possible lay betting opportunity.
Now we all know that it's much more difficult to pick a winner, than it is to pick a loser. Therefore, unlike the 'backer', the odds are stacked very much in the 'layers' favour as far as the probability of a successful lay bet is concerned.
However, the inexperienced 'layer' needs to be careful that they don't become over confident, by making lay bets on events that they know absolutely nothing about, or by falling into the trap of thinking that lay betting is easy.
On the other hand, the experienced and clued up 'layer' will have complete confidence in their selection process, whilst adopting a highly disciplined and professional approach to their lay betting. They will never lay bet with money that is needed for other important things like household bills, only using money that is set aside purely for their lay betting activities. Sticking rigidly to a good solid staking plan they will never over commit themselves.
If your aim is to be highly successful at lay betting on Betfair, you should be looking to achieve a win rate of around 9 times out of 10. This is realistically achievable. Remember you are looking for losers, not winners.
I do hope this helps you to decide whether you are a 'backer' or a 'layer'. Thank you very much for reading this article.
It will come as no surprise to you that I am most definitely a 'layer’.
Which one are you?
-Lawrie Taylor-
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