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But if you think they are not going to win, you could lay the home win. In that instance, your bet would win as long as Manchester United do not win, ie if the match ends in a draw or an away win.
By placing a lay bet, you are effectively taking on the role of the bookmaker by offering odds that can then be taken by another user.
So if you lay Manchester United, Betfair will find another trader who wishes to back Manchester United at the price you're offering and match the two sides - back and lay.
Let's look take a look at an example of how to lay on Betfair. Here is the Betfair Match Odds market for England's international friendly match against the Netherlands :.
As you can see by the odds offered on Betfair, England are the favourites to win this match. In case you don't know already, the back odds on Betfair are listed in blue, while the lay odds are coloured in a rather fetching shade of pink.
With back odds of 1. However, when you are laying a bet you are betting against that outcome. The lay odds in pink for England against Netherlands in this match are currently set at 1.
You can back and lay at the prices shown in the market, or you can set your own odds. If you decide that 1. You would not get matched right away as other users would be happily backing at the higher price of 1.
The figure shown below the odds is how much money there is in the market at this time. Football matches between the most popular teams typically have a lot of money in the Match Odds market, especially as kick off time approaches.
Backing and laying for profit is how football traders make their money, so make sure you fully understand what you are doing before you start placing your bets on Betfair.
Getting it the wrong way round can be an expensive mistake! Liquidity is the amount of money available in a betting exchange market and it varies greatly from match to match.
When you want to trade out, you need to have someone else offering the price you need on Betfair otherwise you're stuck. Match Odds markets tend to have the best liquidity and in bigger leagues, such as the English Premier League, liquidity is never a problem.
In smaller leagues, perhaps English League One, liquidity will never be as good. It may be enough to trade on a Tuesday evening when there are not a huge number of fixtures, but at 3pm on a Saturday there will be lots of bigger leagues sucking up the available money.
You may well be able to get in and out of trades with smaller stakes, but you might need to wait a few minutes to be matched. There will be times when a goal will go against you while you wait, so bear that additional risk in mind.
Smaller markets in smaller leagues are even more troublesome. If in doubt, stay out. If you're new to exchange trading, it may seem quite daunting at first.
However, if you take the time to learn then it is perfectly possible to make consistent, long-term profits and even a full-time living from Betfair.
Punters used to focus on how to make money betting on football, but in recent years there has been a definite switch to football trading.
This has provided liquidity to the markets and opened up far more opportunities for ordinary people to find success the that was once out of reach.
Betting with traditional bookmakers has become increasingly difficult. Not only do they attempt to inflate their profit margins overrounds but they are shutting down profitable punters more aggressively than ever.
If you're serious about making money from betting, then betting exchanges really are your only viable option. Of course, you're going to need a portfolio of profitable trading strategies, but your mindset is also going to play a huge role in your success.
You will need to be patient enough to wait for the right opportunities, disciplined enough to stay out of weak trades and level-headed enough to avoid chasing losses.
It takes time and practice to learn how to trade football, but the rewards are well worth the effort.
Here is a very simple betting exchange strategy which you can start using today. It works at any exchange, though Betfair is definitely the best option as it has the most liquidity across the biggest number of markets.
Simply enter your details below and we'll send you the strategy right away for FREE. There are four main UK betting exchanges to open accounts with before starting out on your trading journey.
The new customer bonus offers will come in handy, plus alternatives to Betfair will reduce your exposure to Premium Charge once you become a very profitable trader.
Make sure you are comfortable with how each exchange works before placing bets or opening trades. Here is the full list of betting exchanges :.
Betfair is the biggest and best betting exchange in the world so, therefore, it is hugely popular among sports traders.
In early , Betfair - which employed more than a thousand people - underwent a merger with the traditional bookmaker Paddy Power to form a new company named Paddy Power Betfair.
Betfair also offers a sportsbook as well as a sports exchange, so it is easier than ever before to check out the different odds that are on offer from both a bookmaker and from other traders.
Matchbook aims to offer traders using the sports exchange " the ultimate online gaming experience ". As well as being a top sports exchange, Smarkets also offers back and lay bets on current affairs, politics and popular culture.
Irish businessman Dermot Desmond founded the company, which was sold to Ladbrokes in This site uses Akismet to reduce spam.
Learn how your comment data is processed. Quick Navigation What is a Betting Exchange? How does Betfair Calculate Commission? What does Back and Lay Mean in Betting?
Betting Exchange Liquidity. More Information about each Betting Exchange. What is a Betting Exchange? How do Betting Exchanges Work?
There are a couple of key things to understand: Betting exchanges make their money through charging commissions, rather than by adding an overround profit margin.
You can only back an outcome at a bookmaker, whereas at an exchange you're able to both back and lay. Betfair Exchange Commission. This is how Exchange Points are calculated: You earn one point for every 10 pence of commission that is paid out of your account from any net winnings on the site.
The same rate is also in effect for implied commission which is in the event of you having a net loss. What is a Betfair Holiday? Betfair Premium Charge Explained.
Firstly, your account is in profit over the course of its lifetime. And thirdly, that your account has been used to bet on separate exchange markets.
How to Avoid Premium Charge. Click Here for a List of Betting Exchanges. In the simplest terms: A back bet is when you are betting on something to happen.
A lay bet is when you are betting on something not to happen. Back and Lay Betting Explained. How to Make Money on Betfair.
Start Trading Today for Free. List of All Betting Exchanges. Betfair still leads the way, but the Matchbook betting exchange offers a quality service with just 1.
In a nutshell The Betfair Exchange allows customers to bet against each other rather than a traditional bookmaker. By matching customers, rather than taking the risk itself, the Exchange provides the option to 'lay' - betting on something not to happen.
The Betfair Exchange is the world's largest sports betting exchange. It follows the model of a stock exchange, but replacing share trading with betting odds on events in the world of sport, politics and entertainment.
On any betting market, there are two sides of the bet. On one side, there are those who think an event will happen backers and on the other, those who think it won't happen the layers.
Backers and layers get bets 'matched' as long as they agree on a price the odds that an event will or won't happen. Betting against other customers removes the need for the margin that fixed-odds bookmakers incorporate into their prices and provides the opportunity for a more efficient marketplace, which is why you can often get better odds on the Betfair Exchange.
For any queries relating to Betting. Betfair, e-mail Copy betfair. For any other Betfair-related queries, contact the helpdesk.