Matched Betting Guide Page 5
How To Lay The Bet
It’s best to use a more popular Exchange when you start laying your bets, such as Betfair. With Betfair most of the time their commission rate is %5 but sometimes it can be %1, its best to check with the terms listed on the website. It is very simple to lay a bet at Betfair. You simply find the relevant market and find the same event which you have bet on (if you are matching a bet) and then you will see pink and white values on either side of the screen. The white values are to back an event, which is just to bet on the event. The pink side is the lay side, which are the lay prices that are currently available. The amount of money which is available at each of the prices are listed below each of the values, so that you know how much you can use.
Betting Exchanges And How To Use Them
Of course if you are not happy with the Lay odds available at the Exchange at Betfair you are able to set your own price, and then put the amount of money you are willing to accept there. Then it is up to another user to choose to accept that Lay value, and to choose the amount of money they wish to take of it. If no-one accepts that (the bet doesn’t get matched) then you will have to lower your lay value or cancel it completely.
For example, say someone has bet £100 at the Bookies on Bolton to win against Arsenal, at odds of 4. This same person might then go on to Betfair and put up a Lay value of 2 on Bolton to win against Arsenal, and put £200 available for this. Then the person will have to wait for other people using Betfair to accept the odds he has made available.
Important: It's a must that you understand how to use the betting exchanges properly, otherwise if you incorrectly place or lay a bet you could end up losing a fair amount of money. Have a look at the image above which shows a typical market screen for a football match at Betfair.com. Try and understand what is going on on the screen, make sure you know where the lay side is (pink side) and the back side (blue side). After a few minutes of studying, or logging on to the website yourself, it should be pretty clear how it all works.
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