Back and lay betting: How back and lay bets work together | OddsMonkey Bites

Back and lay betting forms the core of the matched betting process. Instead of placing just a back bet or just a lay bet, back and lay bets are placed on the same thing. But if these bets cancel each other out, how can you make money from doing this? In this video, we explain how you can unlock real value from the free bet offers put out by bookmakers.

TIME STAMPS:
0:07-0:19: Using back and lay betting to make a profit.
0:20-0:31: Examples of free bet offers.
0:32-0:49: Placing a qualifying bet.
0:50-0:55: Using a free bet.

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TRANSCRIPT:
How back bets and lay bets work together.

By placing a back bet on something to happen and a lay bet on the same thing not to happen, you’re effectively cancelling both bets out.

So what’s the point of betting in the first place?

With matched betting, the profits come from the bookmaker free bet offers. Here are some examples of what those offers could be: ‘Bet £20, Get a FREE £10 bet”, “If your horse comes second, we’ll return your money”, and “100% deposit bonus, up to £100.”

To unlock the free bet, you usually need to place a qualifying bet, using your own money. With traditional betting, you would risk losing that money if your bet lost. However, with matched betting, because we've placed bets on both outcomes, you can protect your own money.

And then with the free bet, we can do exactly the same thing. But this time, because we're using the free bet and not our own money, we can lock in a profit.