Have you ever heard of the concept of Betting Exchange (back and lay the same outcome at different points)? In addition to the traditional form of betting, the exchange bet is also welcomed by many players because of its flexibility and simple rules of the game. So how does Back and Lay betting work, let’s find out more in the following article of W88 online bookie.
What is Back and Lay betting on W88?
Back-to-lay betting, also known as peer-to-peer betting, is a form of betting where players can bet against each other, instead of having to bet against a fixed bookmaker. Players can play sports betting in any subject (football, volleyball, basketball, cockfighting, buffalo fighting, horse racing, car racing, etc.).
In 2000, a well-known bookmaker announced they were about to offer players a new form of betting, the first in the history of betting, and it would wipe out all active bookmakers. Unfortunately, this statement of theirs did not come true, because the reality proves that more and more bookies are born and serve millions of players around the world.
Although they could not eliminate the bookies, they have succeeded in giving players a new form of betting that is as attractive as the traditional betting method. That is the form of Betting Exchange (Back-to-Lay) that Bong da lu are learning on W88 today.
How Back and Lay Betting Works?
You can bet back-and-lay on any sport you like. Within the framework of this article, we will take examples of exchange bets in football to make it easier for you to imagine. Because this form of betting clearly demonstrates its flexibility and fun in football betting.
As we all know, with traditional betting, players will bet with the bookie, playing according to the rules and odds that the bookie offers. With this traditional form, the bookie takes the initiative and has more advantages. With Back-to-Lay betting, this is an online betting market where players are provided with a platform (also known as an exchange) for them to bet against each other.
Players choose their preferred odds and the amount they want to bet. The exchange will then match the players who want to place the same odds (but with the opposite result) with the odds that the previous player made.
At this point, you will wonder, where does the winning money come from? The answer is very simple. When a player enters the odds on the exchange bet, the exchange will automatically deduct that amount from the player’s account. This amount will be transferred directly to the winner’s account, after the bet is over. Exchanges charge a small fee (usually 3-5%) from the winnings.
In Back to Lay Betting on the w88.com online betting site, the odds maker acts as the dealer. Backer (or Back betting) is a person who accepts to play with the odds that Layer creates, so Backer acts as a player in the form of betting with traditional bookies.
Backers will choose an outcome to place money in. If Backer wins, he gets his winnings and the principal he wagered. If Layer wins, he gets the amount Backer bet. The exchange will collect a fee from the amount received by the winner.
Advantages of Back-to-Lay betting on W88 bookie
Players are more active
When you know the betting tips with the bookie, you must play according to the rules set by the bookie and the bookie reserves the right to change the odds if they see a risk (before the match starts). This reduces your advantage. For back-to-lay bets, you are free to choose the odds that you love or feel confident about.
Less fee
If you bet with the bookie, you will have to accept a cut of money (usually 10% and has been directly included in the odds by the bookie). This fee in back-to-lay bets is much lower (usually exchanges only collect 3-5% commission from the money received by the winner)
Conclusion
Back-to-Lay betting was born after traditional betting, but it quickly proved its superiority. In general, the odds at the exchanges are usually better than the odds offered by the bookie. We, W88 bookie, hope the information in this article can help you better understand back-to-lay betting and will help you win more wins.
