what is back and lay in betpro?

Let’s dive into the world of back and lay betting in betpro.

1. Back Betting in betpro:
   • Back betting is the traditional and most common type of betting format. When you place a back bet, you’re staking money on a selection (e.g., a horse) to win.
   • Here’s how it works:
     • Suppose you place a £20 back bet on Horse A at odds of 5.0 (4/1).
     • If Horse A wins, you’ll receive 100 (your original stake plus profit).
     • If Horse A doesn’t win, you lose the bet.
   • High-street bookmakers typically operate based on this concept.
2. Lay Betting in betpro:
   • Lay betting is where things get interesting. In this type of bet, you not only bet on a team or selection to win (back) but also bet against the same team or selection to lose (lay).
   • Key points about lay betting:
     • You essentially act as the bookmaker, offering odds to other bettors.
     • If the selection loses, you win the lay bet.
     • Lay bets are popular in sports like horse racing and soccer.
     • Betting exchanges (e.g., Smarkets) facilitate lay betting by connecting backers and layers.
     • Backers and layers agree on odds and stakes before the wager is accepted.
3. Back to Lay Strategy:
   • Traders often use a strategy called “back to lay.”
   • It involves backing a selection initially (at higher odds) and then laying it at a lower price.
   • By doing this, traders aim to lock in a profit based on odds movement in their favor.