Can someone explain to me what "back" and "lay" mean in sports betting?

Yes, here it is. Another stupid thread brought to you courtesy of CFH. Enjoy.

"Back" means you support them and think it will happen.

i.e. I back that horse to win the race. Or I back Marquez over Mayweather.

I haven't even heard "lay" to be honest with you.

I'll post a screen of the page that got me wondering, maybe that will make things more clear.

Goddamnit. How do I post a screen shot here?

something to the extent of lay back and prepare to be ass raped on the bet you just made.

http://img32.imageshack.us/img32/341...creenshot2.png

Fenster will know the answer, he lives at the bookies. Wait until he sees the page. :)

bump for knowledge

Betfair.com is a site where you can act as the bookie aswell as the punter.

So basically you can create odds yourself and allow other punters to back the odds you have offered.

So laying means you are basically backing something to loose, meaning your offering them odds you have highlighted in pink for other punters to back.

Backing is in blue and is when you are the punter and backing something to win.

I hope thats clear ;D

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Originally Posted by skel1983

Betfair.com is a site where you can act as the bookie aswell as the punter.

So basically you can create odds yourself and allow other punters to back the odds you have offered.

So laying means you are basically backing something to loose, meaning your offering them odds you have highlighted in pink for other punters to back.

Backing is in blue and is when you are the punter and backing something to win.

I hope thats clear ;D

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Fuck me, I'm more confused than ever... I think I understand what you're saying though, I guess I need to find another site then. I've never bet on sports in my life, but I just wanted to check the odds on whether Wlad - Haye will go the distance (I'm 100% sure it won't) and what the over/under odds are...

Edit: Hold on a sec, does that mean that I can get 1.1 odds that the fight doesn't go the distance by backing someone elses bet??

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Originally Posted by CFH

Quote:

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Originally Posted by skel1983

Betfair.com is a site where you can act as the bookie aswell as the punter.

So basically you can create odds yourself and allow other punters to back the odds you have offered.

So laying means you are basically backing something to loose, meaning your offering them odds you have highlighted in pink for other punters to back.

Backing is in blue and is when you are the punter and backing something to win.

I hope thats clear ;D

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Fuck me, I'm more confused than ever... I think I understand what you're saying though, I guess I need to find another site then. I've never bet on sports in my life, but I just wanted to check the odds on whether Wlad - Haye will go the distance (I'm 100% sure it won't) and what the over/under odds are...

Edit: Hold on a sec, does that mean that I can get 1.1 odds that the fight doesn't go the distance by backing someone elses bet??

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Il be honest with you betfair is quite confusing when your first using it, but on average your probably get 15/20% better odds.

If you just want to back sports events its cool, Betfair is a great tool If you basically want to be a bookie.

The guy(s) who own Betfair are raking it in mate, they cant loose there just acting as a sit and take a percentage of all winnings so they basically cant loose!!

But its a good site its got a decent forum on there to for betting advice etc etc.

Just makesure if you want to back stick to blue, but if you did ever make the mistake of laying ( pink) you have to make sure you have the funds available in your account in case you loose.

For example if you layed something at 4/1 for £10, there would have to be £40 in your account so if the selcetion you layed did win at 4/1 you would have to pay the person(s) who backed the event at 4/1 for £10, i hope that makes it alot clearer??

10*

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Originally Posted by CFH

http://img32.imageshack.us/img32/341...creenshot2.png

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In this instance, if you had clicked the pink at 11 for £35 you are giving someone 10/1 for £35 to go the distance so menaing if it went the distance you would have to pay out £350!!!

So basically the blue is what odds are available and the pink is what some cheeky bastards are hoping some mug will give them lol.

Quote:

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Originally Posted by skel1983

10*

Quote:

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Originally Posted by CFH

http://img32.imageshack.us/img32/341...creenshot2.png

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In this instance, if you had clicked the pink at 11 for £35 you are giving someone 10/1 for £35 to go the distance so menaing if it went the distance you would have to pay out £350!!!

So basically the blue is what odds are available and the pink is what some cheeky bastards are hoping some mug will give them lol.

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Ok, I think I get it. So if I just want to bet that the fight won't go the distance, I can get 1.1 odds just by betting against the house so to speak, is that correct?

Quote:

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Originally Posted by CFH

Quote:

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Originally Posted by skel1983

10*

Quote:

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Originally Posted by CFH

http://img32.imageshack.us/img32/341...creenshot2.png

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In this instance, if you had clicked the pink at 11 for £35 you are giving someone 10/1 for £35 to go the distance so menaing if it went the distance you would have to pay out £350!!!

So basically the blue is what odds are available and the pink is what some cheeky bastards are hoping some mug will give them lol.

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Ok, I think I get it. So if I just want to bet that the fight won't go the distance, I can get 1.1 odds just by betting against the house so to speak, is that correct?

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Thats it yes, at the moment there is £352 worth of best available at 1.1. So you can basically put anything upto £352 for it not to go the distance.

Quote:

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Originally Posted by skel1983

Quote:

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Originally Posted by CFH

Quote:

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Originally Posted by skel1983

10*

In this instance, if you had clicked the pink at 11 for £35 you are giving someone 10/1 for £35 to go the distance so menaing if it went the distance you would have to pay out £350!!!

So basically the blue is what odds are available and the pink is what some cheeky bastards are hoping some mug will give them lol.

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Ok, I think I get it. So if I just want to bet that the fight won't go the distance, I can get 1.1 odds just by betting against the house so to speak, is that correct?

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Thats it yes, at the moment there is £352 worth of best available at 1.1. So you can basically put anything upto £352 for it not to go the distance.

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Wow. Those seem like incredibly good odds. There is no way I see that fight going the distance.

Here's another stupid question, how do I make the bolded Pound sign on my keyboard. All I have is the $...