Lay Betting (To Get Rich) Thread

dazza74 · 11-03-2010, 3:59 PM

Decided to see if anyone is interested in this. I'm a bit of a fan of "Lay" betting due to the small amount of liability involved. The idea with this thread is that you start with a set amount of money and see how long you can make it last by "Lay" betting. No set percentage return or anything, you can back after laying if you wish to lock in profit. Just an updated table is required so we can see how we are all getting along.

Not got excel on this PC so I'll update my table later. I started last night with £10, I "Layed" Bordeaux for £2 @ odds of 1.25 when they went a goal up, as long as Bordeaux didn't win I was going to win £1.90 (after betfair commission), if they had won I would have lost 50p so the pot would be down to £9.50. They lost so I made 19% profit on my bank while only risking 1/20th of my bank in the process.

dazza74 · 11-03-2010, 4:31 PM

Decided to "Lay" Valencia tonight at 1.93 for a £1.

dazza74 · 12-03-2010, 11:05 AM

My updated table :

Date	Sport	Participants		Winner	Bank	Stake	Odds	Liability	Profit / Loss	Profit / Loss %
10/03/2010	Football	Bordeaux	Auxerre	Layed Bordeaux (1-2)	11.9	2	1.24	0.48	1.9	19.00
11/03/2010	Football	Valencia	W Bremen	Layed Valencia (1-1)	12.85	1	1.93	0.93	0.95	7.98

Lay bet for today is £2 on Schalke v Stuttgart Under 1.5 Goals at 3.75

**Kieron** · 12-03-2010, 8:29 PM

Could you explain how lay betting works?

dazza74 · 12-03-2010, 8:48 PM

Quote:

Originally Posted by Kieron

Could you explain how lay betting works?

People often describe Lay betting as becoming the bookie. Your betting on someting to lose or not happen, complete opposite of backing. The bet I've placed tonight is that they'll be 2 or more goals in the Schalke v Stuttgart Game.

I've placed a bet of £2 at Odds of 3.75

If the game finishes with less than 2 goals I'll lose £5.50. How I work it out in my head the potential loss is I multiply the (amount of money staked)*(odds-1) so in this instance £2 * 2.75

If in this instance there is 2 or more goals I get to keep the £2 staked, your profit is however much money you've staked. Exactly like a bookies if you put a tenner on Chelsea to win at 1.2 and they draw or lose the bookie keeps your tenner.

dazza74 · 12-03-2010, 9:52 PM

Updated Table after tonight, I've left out my "Lay" of Catania tonight as the cider clouded my judgement :

Date	Sport	Participants		Winner	Bank	Stake	Odds	Liability	Profit / Loss	Profit / Loss %
10/03/2010	Football	Bordeaux	Auxerre	Layed Bordeaux (1-2)	11.9	2	1.24	0.48	1.9	19.00
11/03/2010	Football	Valencia	W Bremen	Layed Valencia (1-1)	12.85	1	1.93	0.93	0.95	7.98
12/03/2010	Football	Schalke	Stuttgart	Layed U 1.5 G (2-1)	14.75	2	3.75	5.5	1.9	14.79

sdb123 · 12-03-2010, 11:49 PM

Which online betting company do you use out of interest?

My missus just gave me a funny look when I mentioned money and laying...

dazza74 · 13-03-2010, 12:30 PM

Quote:

Originally Posted by sdb123

Which online betting company do you use out of interest?

My missus just gave me a funny look when I mentioned money and laying...

Betfair, you have to use a betting exchange and the choice is pretty limited compared to traditional bookies, Betfair is the biggest I believe.

dazza74 · 13-03-2010, 12:48 PM

Layed Under 1.5 goals on the Spurs v Blackburn game for £2 at 4.6 for today's bet.

Pana440 · 13-03-2010, 12:56 PM

Thought you'd have got more interest in this! May well give this a go if something goes wrong with the backing thread, would just end up confusing myself if I start now

pete1866 · 13-03-2010, 1:05 PM

Put £2 on scunthorpe to win in the second half at ipswich . 14-1 betting with my heart instead of my head again

ozthecoz · 13-03-2010, 1:08 PM

Quote:

Originally Posted by Pana440

would just end up confusing myself if I start now

yep thats exactly why i havent started it lol

dazza74 · 13-03-2010, 1:44 PM

Quote:

Originally Posted by Pana440

Thought you'd have got more interest in this! May well give this a go if something goes wrong with the backing thread, would just end up confusing myself if I start now

Not surprised really as I don't think "Lay" betting is understood as well as traditional backing. I think there's a lot of benefits to "Lay" betting especially when there's 3 possible outcomes like in football match as the "Lay" will cover 2 of the 3.

sdb123 · 13-03-2010, 1:53 PM

I've started up an account....let's see how this weekend fairs!

kopchoir · 13-03-2010, 1:59 PM

Quote:

Originally Posted by dazza74

Layed Under 1.5 goals on the Spurs v Blackburn game for £2 at 4.6 for today's bet.

2-0 now after 55 mins

3-1 after 89 unlucky mate

EDit :you win dont you this lay betting has me all a pickle

dazza74 · 13-03-2010, 2:47 PM

Don't think they'd be in business long a bookie offering 4.6 on there to be two goals or more in a game at the Lane "Kop". It does take a bit of getting your head around "Lay" betting as everything is in reverse

Chuckle Lay of the day for me, 20 minutes to go I "Layed" Spurs for £2 at 1.01 (2 pence liability), once the goal went in the odds on Spurs went to 1.07 so I stuck me £2 on Spurs

dazza74 · 13-03-2010, 5:03 PM

Updated Table :

Date	Sport	Participants		Winner	Bank	Stake	Odds	Liability	Profit / Loss	Profit / Loss %
10/03/2010	Football	Bordeaux	Auxerre	Layed Bordeaux (1-2)	11.9	2	1.24	0.48	1.9	19.00
11/03/2010	Football	Valencia	W Bremen	Layed Valencia (1-1)	12.85	1	1.93	0.93	0.95	7.98
12/03/2010	Football	Schalke	Stuttgart	Layed U 1.5 G (2-1)	14.75	2	3.75	5.5	1.9	14.79
13/03/2010	Football	Spurs	Blackburn	Layed U 1.5 G (3-1)	16.65	2	4.6	7.2	1.9	12.88
13/03/2010	Football	Chelsea	West Ham	Layed U 2.5 G (4-1)	18.55	2	2.58	3.16	1.9	11.41

sdb123 · 13-03-2010, 5:45 PM

I won my bets on the Spurs match (under 1.5 goals) and Chelsea being a draw. I've got my next bet placed for tonight (Sevilla vs Deportivo)....here's hoping!

dazza74 · 13-03-2010, 6:33 PM

Quote:

Originally Posted by sdb123

I won my bets on the Spurs match (under 1.5 goals) and Chelsea being a draw. I've got my next bet placed for tonight (Sevilla vs Deportivo)....here's hoping!

I've "Layed" Under 2.5 Goals in the Hull v Arsenal match so just need another goal in the 2nd half.

dazza74 · 13-03-2010, 7:39 PM

Quote:

Originally Posted by dazza74

I've "Layed" Under 2.5 Goals in the Hull v Arsenal match so just need another goal in the 2nd half.

I think I've rode my luck enough today now :

Date	Sport	Participants		Winner	Bank	Stake	Odds	Liability	Profit / Loss	Profit / Loss %
10/03/2010	Football	Bordeaux	Auxerre	Layed Bordeaux (1-2)	11.9	2	1.24	0.48	1.9	19.00
11/03/2010	Football	Valencia	W Bremen	Layed Valencia (1-1)	12.85	1	1.93	0.93	0.95	7.98
12/03/2010	Football	Schalke	Stuttgart	Layed U 1.5 G (2-1)	14.75	2	3.75	5.5	1.9	14.79
13/03/2010	Football	Spurs	Blackburn	Layed U 1.5 G (3-1)	16.65	2	4.6	7.2	1.9	12.88
13/03/2010	Football	Chelsea	West Ham	Layed U 2.5 G (4-1)	18.55	2	2.58	3.16	1.9	11.41
13/03/2010	Football	Hull	Arsenal	Layed U 2.5 G (1-2)	20.45	2	2.46	2.92	1.9	10.24
14/03/2010	Football	Man Utd	Fulham	Layed U 1.5 G (3-0)	23.04	2.73	2.18	3.22	2.59	12.67

Se777eN · 13-03-2010, 8:47 PM

I nearly layed arsenal at evens was going to put £100 on it on the 80th min fook me am glad i never.

dazza74 · 15-03-2010, 4:38 PM

Thought I'd Lay "Over 2.5 Goals" in the Liverpool game at 1.81 tonight so expect a Torres Hatrick