A Lay Bet is a bet you place on a Betting Exchange, which is essentially a bet against a team or person winning an event. In other words, you’re betting on the team or person to lose.
For example, England are playing Spain at football. You place a Lay Bet on England, which is a bet against England winning. So your Lay Bet would win if the match was a draw, or Spain win.
So Why Do I Need To Know About Lay Bets For Matched Betting?
You need to be able to place a lay bet in order to do matched betting. Without a betting exchange account, you can’t place a Lay bet, and without placing Lay bets, matched betting is virtually impossible.
To get a free bet, we need to place a qualifying bet. So in order to not lose money when we place our qualifying bet with the bookmaker, we place a lay bet on a betting exchange.
So using the example above. You place £10.00 on England at Even money with a bookmaker for your qualifying bet. Then you need to lay England for £10.00 on the betting exchange.
If England win, you get £20.00 back from the bookmaker (£10.00 bet + £10.00 winnings), and you lose £10.00 on the betting exchange.
While if England don’t win (lose or draw), you lose £10.00 with the bookmaker, but get £20.00 back from the betting exchange (£10.00 lay bet stake returned + £10.00 winnings).
So as you can see, no matter what the result of the football match, you end up with your same £10.00 back. You now have a free bet to use from the bookmaker as well as your original tenner, and this is what we use to make our risk free money.
It is a similar process when cashing in your free bet for risk free profits, so as you can see, playing Lay bets is an integral part of matched betting, and is why you need a betting exchange account.
Best Matched Betting Sites
Below we have put together a list of all the recommended matched betting sites that do most of the hard work for you. By using one of the following subscription services, you will get full support and effectively have someone holding your hand throughout the whole process of matched betting.
– Oddsmonkey has a free trial where they show you how to cash in free bets that will make you up to £45.00 in risk free profits.
– Once you have done that, you then have the option to carry on, or cancel your order. There are two different payment options, monthly at £17.99, or annually at £150.00.
– Both options come with 30 day money back guarantee.
– Profit Accumulator also gives you a free trial showing you how to cash in free bets that will make you up to £45.00 in risk free profits.
– Like above, there are two subscription offers. You can purchase monthly at £17.99, or annually at £150.00.
– Both subscription offers come with a 30 day money back guarantee.
– Profit Maximiser differs from the two above in terms of subscription offers.
– You can try out this service in full for 14 days at just £1.20, followed by the remaining £115.20 for 1 years access, the cheapest 12 month subscription service.
– You can also purchase outright at £116.40 for 12 months, and get their 30 day money back guarantee.
– Arguably the most flexible when it comes to purchasing options.
– A 14 day trial is available for just £1.00, and thereafter you can either purchase monthly at £15.00, or annually at £149.00.
– The guys at matchedbets seem to be taking the best parts of the offers from their 3 main rivals above, and covering all bases to give you better purchasing options.
– The best system if you are nervous about matched betting, or just starting out.
– You can try out Bonus Bagging for just £1.20 for 7 days under the terms of their trial, this will be followed up by a further one off payment of £31.20, which completes the payment in full.
– The service also comes with a massive 60 day money back guarantee.