Matched Betting and Lay Bets

Backing and laying

At a bookmaker you back: ₦1,000 on Team A at 3.00 wins ₦2,000 profit if they win. On a betting exchange you can lay: you accept someone else's back bet, so you win their stake if Team A does not win and pay out if they do.

Liability

When you lay ₦1,000 at 3.10, your liability is ₦1,000 × 2.10 = ₦2,100. That is what you pay if the selection wins, and the exchange holds it from your balance until the market settles. The lay bet calculator shows liability at any odds.

Turning a free bet into cash

1. Qualifying betBack a selection with your own money and lay it at close odds. You lose a little, usually a few percent.
2. Free betBack a selection with the free bet, ideally at longer odds, and lay it. Whichever side wins, you keep around 70 to 80% of the free bet's face value.
3. CheckThe matched betting calculator gives the exact lay stake and both outcomes.

Commission

Exchanges take commission on net winnings in a market, so the lay stake formula subtracts it from the lay odds. Higher commission means a bigger qualifying loss and less from a free bet.

Limits of the method

• You need access to a betting exchange and enough balance for liabilities.
• Odds can move between the back bet and the lay bet.
• Bookmakers may restrict accounts that only take offers.
• Mistakes are costly: laying the wrong selection or the wrong market leaves you with an open bet.

Questions