Make Money Online From Laying Your Bets
A question that I have heard on many occasions is "what is a lay bet?", and if I had been given a pound for every time I had heard that question then I would probably be quite a rich person...
It is very important to know and understand what a lay bet is because the whole matched betting and arbitrage principle is based upon this term, and to put things simply you cannot make money without laying your bets, unless you are willing to gamble with a lot of risk, which is something you definitely don't want to be doing. Learn what a lay bet is if you are serious about making money from betting online.
To lay a bet, or make a lay, what it is that you are doing is that you are betting against the outcome of an event. In essence, you are taking the place of a bookmaker - every day, bookmakers are laying many many bets. They are betting against the outcome of an event, and if they "win" their bet, you will have lost your bet and they get to keep your money. However, if they "lose" their bet, in other words the lay bet hadn't been successful, and so you win your bet and the bookie has to pay you your winnings.
So what you need to understand is that to lay a bet you are just betting against something happening. You can take the place of a bookmaker and lay a bet by using an online betting exchange, the most popular one being Betfair.com but there are a couple of decent ones that are available to use. It is free to use betting exchanges, all you have to do is open an account with them online, just as you would do with any other online bookmakers. Online betting exchanges are free to use but charge a small commission on any winnings, something that you should stay aware of when placing your lay bets. Most arbitrage/matched betting calculator programs allow you to enter the commission rate of the betting exchange to save you having to work it out.
Being able to place a lay bet is really important when it comes to matched betting and arbitrage betting because it enables you to place bets at completely no risk, something that is essential when it comes to qualifying for bookmakers free bets. If you can place a bet at no risk, you can then unlock a free bet, and when you do this again with the free bet you will magically end up with a profit.
So there you have it, hopefully you now understand exactly what a lay bet is. Personally I think that it is essential that you know what a lay bet is before you get started at matched betting, and then eventually hopefully you can progress on to arbitrage betting as and when you become more experienced, allowing you to make some serious money from betting.
