Converting lay odds to back odds There are two types of odds quoted on betting exchanges — back and lay odds, whereas traditional bookmakers work only with back odds. Taking a lay position on outcome 1 is equivalent to taking a back position on outcomes X2 (double chance bet).
Back Lay Equivalents. Quite often backing one player will not be the same as laying the other in terms of how much profit you will make. Generally speaking, most of the money in a market is on the favourite and it will be preferential to lay them than back the other(s) selections.
Simply input the current back and lay odds for each selection and click on the ‘Calculate’ button. The calculator will then tell you whether to back the selection or lay the opposing selection. When to Use This Calculator
Our back lay or hedging calculator, allows you to calculate your lay bet amounts and your lay liability. Hedging is a strategy whereby you lay off a back bet to minimise risk and secure a profitable position. It can be difficult to know how much you need to stake on your lay bet to create a scenario where either outcome produces the same result.
Negative figures: The odds state how much must be bet to win £100 profit e.g. american odds of -120 would win £100 on a £120 bet. Implied Probability Odds correlate to probability e.g a 3/1 bet is expected to win one in every 4 attempts, hence the probability is 25%. How to Convert Odds and Probabilities - FAQ
Click the "Laying First" button. Enter the "Lay Price" (decimal odds), "Lay Stake" and "Back Price" (decimal odds). Enter a value for betting exchange commission if you wish. Click on the "Calculate" button to display how much you need to back out for and how much profit (or loss) you'll be left with.
Back to lay odds converter. There are two types of odds listed on betting exchanges — back and lay odds, whereas traditional bookmakers work only with back odds.Taking a lay position on outcome 1 is equivalent to taking a back position on outcomes X2 (double chance bet).
Select the qualifying bet or free bet button and then enter your bet amount and odds. To maximise your outcome try to bet on events which have the closest odds at the bookie and exchange, for example betting Arsenal to win a match at 2.15 and laying the same outcome at 2.16 would guarantee only a very small overall loss. Laying the same outcome ...
For example, laying @ 5 is equivalent to backing a 1.25 shot. Is there an easy formula (Excel perhaps) to work this out, without calculating it in your head? Pause Play • Switch to Standard View Converting Lay Odds to Back Odds