The Back and Lay principle - How it works

We make no appologies for the detail here - read it though a couple of times.

In gambling circles there is no such thing as a certainty. The only way to be 100% sure of an uncertain outcome is to consider all the possibilities. This can be done in just 2 steps:

First you bet on something to happen (commonly known as a “Back” bet or just a “bet”)

Next you bet on the same thing to not happen (known as a “Lay” bet).

With these 2 bets you have now covered every possible outcome!

Bets are what you do at regular bookies like William Hill, Coral, Ladbrokes  etc (there are hundreds of online bookies and these are the people giving away all the free money).

Lays can be placed at betting exchanges like Betdaq and Betfair. You need to use the exchanges to place a Lay bet.

Move on to Step 2 to see why it is so important that you understand that this is totally risk free. But before moving on, we suggest you re read the above if you are in any way uncertain or confused. Alternatively why not post a question on the forum? There is no such thing as a stupid question and at Cash Matters we never forget that we also took a little time to understand the concept.