Online betting has been a major source of betting for many bettors all around the world. As there are very easy options where you don’t need to step outside your house to make any kinds of bets or payments. Everything is secure and safe between you and your online client. Huge thanks to online betting sites like brokerstorm.com, sites like these are very useful for beginners and professional players as well.
But there are some terms that are somewhat difficult for the players. Mostly those players who have not placed any bets before are confused because they think that they will lose the bets because they are not well aware of the terms around the market. Here are some of the most commonly used terms Back vs Lay Odds Explained. We have got your back in case you are confused; you can see out betting guide here where we have explained these terms.
What are Back vs Lay Odds?
So, these are the basics of betting, if you get these wrong then you will be at great disaster as you will not win any of the best you place and as a result, you will lose all your money in the hope to win some. Here we have got Back vs Lay Odds Explained in such way that a person who has almost zero knowledge about betting can also win the bets.
Back and lay odds
These are two different terms back and lay. In betting, when you are using the term back, this means that you are betting on something to happen. For example, you are betting and you back Football Club Barcelona this means that you are placing your bet on Football Club Barcelona to win the match.
In the same way, when you use the term lay, this means that you are going against the team. In this case of our example if you lay on Football Club Barcelona this will mean that you are betting on the opponent to win the match and you will win the bet if the opponent wins the match.
Also, these are two different things which work on modern and traditional principles respectively. In out example if you lay Football Club Barcelona, this will mean that you win the bet if the opponent wins the match or the match ends in a draw.
The lay bets are different from back bets in terms of terms and conditions, the lay bets are working of traditional bookmakers rules so, if your bet is not won, you will still need to pay your stake. For example, if you lay Football Club Barcelona for $50 at the odds of 2.0 then you will need to pay the $50 amount if Football Club Barcelona wins. IN the other case, if Football Club Barcelona loses or the match ends as a draw, then you will win the bet and with your own amount which means that you will get $50 of your bet and $50 which you won.
In case of odds if you chance the odds to 2.1 then if you lose the bet, you will have to pay $55 even if your stake was $50.
What is meant by odds?
This is the most important term in betting because at the end of the day, your whole amount will depend on this single word. Here we have Back vs Lay Odds explained for you along with their types and how to use them.
What are the types of odds?
We have back vs lay odds explained with all their types below:
This type of odds is usually indicated with a + sign or a – sign. These means what you will have to pay incase of winning or losing. If you have the + sign with the odds, then you according to that odds vale. Similarly, if you have the – sign, then it will tell how much you will need to stake to win equal to your stake. Let’s take an example where your stake is $100, and your stake is +500 then you will win $500 and your stake too.
If you have the stake of $500 with the odds value of -500 then if you win, you will get $100 and your stake will also be returned.
These are just some number in decimal form and to calculate your winning amount, you need to multiply these with the amount od stake. For Example, if the odds are 2.0 and your stake is $50 then you will get $100 if you win the bet.
Hong Kong odds
These work as the same principle as decimal odds, but the main difference is that the stake amount is not included. For example, if your stake amount is $100 with odds at 1.0 then you will get $100 with your stake amount returned.
In this type of odds, there is a + or – sign with the odds but this does not work like the US odds, But it works in such a way that If there is a + sign then you will need to multiple the stake amount with the odds in case you win the bet. But in case of – sign, you will need to divide the stake amount with the odds excluding the – sign to calculate the winning amount.
This is the case where the chances of your bet are represented showing that how many chances are there that your bet will be successful. There is simple formula which 100 divided by the number %odds which will give you the chances of your bet winning.
These were some Back vs Lay Odds Explained with the types and the types of each of them were explained as well. Understanding these Back and Lay Odds explained is very important as this will help you to win in most situation in you place your bets intelligently. You can always use brokerstorm.com for online betting as this is a very reliable and user-friendly site.