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News - 23/05/2014
Laying to Win more on Exchanges

In the immediate aftermath of a horse crossing a line, the final whistle being blown or a match winning ace being served, the discontented murmur that ‘you don’t see a poor bookie’ is odds-on to be resonating around betting shops, racecourses and stadiums alike. Another favourite emanating from disgruntled customers is that ‘the bookie always wins’, with this sentiment proving largely true until recently. The advent and subsequent rise to prominence of betting exchanges over the last decade has transformed the way in which individuals are able to place bets, altering the landscape of the bookmaking industry permanently.
Laying a bet is effectively betting on a selection to lose, and this act was previously just the privilege afforded to bookmakers.  However, through exchanges, individuals are now able to place bets on teams, individuals, animals etc. not to win, both prior to the event and during it through live betting.
How does laying work? Laying on the exchanges operates under the same premise as traditional bet placing between an individual and a bookmaker.
A backer and layer agree on odds and their bet is matched against one another. If the selection does not win, the layer keeps the backer’s stake. If the selection wins, the backer wins the stake multiplied by the odds.
For an example of laying on the exchanges we use the sport of boxing. Amir Khan is fighting Floyd Mayweather, with Mayweather being a hot favourite. A customer who does not believe Khan can win, offers odds of 6.0 (5/1) for a £10 stake. A Khan fan likes these odds and takes the bet. He outlays £10 and receives a return of £60 (less commission) if Khan pulls off the upset. On the other side, the layer profits £10 from the stake money if Khan fails to win, but has to pay out £60 if he manages to pull off the upset (returned stake of £10 + £50 profit).
Why can people win more laying on the exchanges? The answer is quite elementary. When you are laying, all you require is your selection not to win. When you are backing, you require your selection to beat every other competitor. In horse, motorsport, greyhound and athletics racing, there are normally at least several contenders which reduce the chance of your interest being successful. Even in a football match there are three outcomes- home, draw and away. Therefore when laying a bet on a race in particular, your potential liability will often exceed your profit. This indicates that you are likely to be successful in your choices more often than not.
WBX is a betting exchange offering low commission and the facility to lay bets, both pre-event and live. This enables customers to bet on certain teams, horses, individuals they think cannot win events and profit when their opinion proves to be correct. Furthermore, using WBX, customers are able to combine laying with backing to green up and trade profits on events. With traditional bookmakers, laying a bet is not an option. They like to be the only ones with the ability to bet on selections to lose, and the ability for punters to now lay bets themselves has caused discontent within the traditional firms. Being able to lay bets during the action through the WBX live betting feature enables customers to make more informed decisions based on in game/race statistics and patterns of play, in the process increasing their chance of making a profit.

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