Lay Back Bet Calculator
| Detail | Value |
| Liability | - |
| Profit if selection loses | - |
| Loss if selection wins | - |
| Implied probability | - |
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What is a Lay/Back Bet?
A Lay bet is a bet on an outcome not to happen. So, instead of betting on a selection to win, the punter is effectively taking the role of the bookmaker and betting against that selection.
Lay bet formation: 1 bet against a selection to not win
How Lay/Back Bets Work
Placing a Lay bet on an exchange includes making a selection on an event/participant and placing a Lay stake. The Lay stake is actually the amount a backer can get, while your liability can be different. Or in other words, the Lay stake is your expected win out of the bet.
For example, if a horse has Lay odds of 4.00 and you place a $20 Lay stake, your potential liability is: $20 × (4.00 − 1) = $60.
- If the horse loses, you win the $20 Lay stake, less any applicable exchange commission. If the horse wins, you lose your $60 liability.
Lay bet is different from a Back bet, where you bet that the selection will win or the chosen outcome will occur.
How Back-to-Lay (B2L) Bets Work
Back-to-Lay (B2L) is a strategy which starts with a Back bet and later places a Lay bet on the same selection. The objective of the strategy is usually to lock in a profit or reduce the potential loss if the odds move in your favour.
For example, you may Back a selection at odds 5.00 and later Lay it at odds 3.00 after its chances improve. Because the Lay odds are lower than the original Back odds, the movement can create a trading profit.
The B2L bet calculator helps determine the appropriate Lay stake and estimate the resulting profit after deducting the exchange commission.
How Lay-to-Back (L2B) Bets Work
Lay-to-Back (L2B) is another strategy which works in the opposite direction of the B2L. It start with a Lay bet and later Back the selection. The objective is similar, lock in a profit or reduce a potential loss.
For example, you may Lay a selection at odds 3.00 and later Back it at odds 5.00 if the odds slide. The difference between the two odds prices can potentially produce a trading profit.
The L2B calculator makes it simple to determine the required Back stake and potential outcomes since calculating the correct amounts manually can become complicated as exchange betting involves both stakes and Lay liabilities.
Each Way Lay Bets
The Each Way Lay bet is used when betting against both the win and place components of an Each Way selection.
Widely used in horse racing betting, this can involve different odds, stakes, liabilities and potential outcomes. All these make the calculation more complicated than a standard Lay bet. The Each Way Lay bet calculator helps users estimate the figures for the relevant Each Way Lay position.
What the Lay Back Bet Calculator Does
- Calculate Lay stakes and liabilities based on the set odds.
- Work out Back-to-Lay trading stakes when odds move in your favour.
- Calculate Lay-to-Back positions when a selection’s odds drift.
- Estimate Each Way Lay outcomes for more complex bet exchange positions.
- Account for exchange commission when calculating potential profit.
- Compare potential outcomes before placing a trade.
Conclusion
Lay bets and exchange trading offer a lot more flexibility compared to traditional Back betting, but the calculations can quickly become complicated when stakes, Lay liabilities, changing odds and commission are involved. The Lay Back Bet Calculator comes in to provide with a simple way to calculate these figures for Lay bets, Back-to-Lay, Lay-to-Back and Each Way Lay strategies. With the returns, lay and liabilities calculated, punters can better understand their betting position before placing a bet.
