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Coverage: Selling the bet after you have bought it!Explaination at the example of betting exchanges:The most interesting thing at a betting exchange is that you can bet against a result with a so called lay bet. For example you can bet for one team first (BACK bet), after the score the first goal you can sell the bet and make a profit by placing a LAY bet for the same team without ANY RISK for a possible goal of the other team. There are different scenarios to consider: Types1. Betting against a team (lay bet) and getting a coverage later!What about betting against e.g. Tottenham (LAY bet)? If there is no goal in the early minutes of the match you can hedge your own bet by doing the opposite of your initial bet (a BACK bet for Tottenham ). Because of the changing odds (as the odd will rise if Tottenham gets a goal) you can relaxe e.g. already at minute 30 as you will win in each case. 2. Getting a coverage after betting for a team (back bet)! You can also make something different: You have to place a BACK bet for your favorite. Both the odd for BACK as well as the odd for LAY bet will decline, after the favorite scores a goal. Now you have to make the same as in the first scenario, you have to take the opposite position with a LAY bet against the favorite. You will get a positive profit because of the change of the odds (it does not matter whether it is a win, draw or loss). 3. Getting a coverage after betting on a draw/tie (lay bet)! Certainly, this also works with a draw. You have to bet against the draw (LAY bet) before the match starts. For example bet €10 at the odd of 3,0 - this makes a maximal loss of €20 if the final result is 0:0. If one team scores a goal the odd for the draw will rise (e.g. to 5,0) as a draw will be less likely. Starting position after first draw/tie of a lay bet:
Chelsea wins - €10 profit Tottenham wins - €10 profit Draw/Tie - €20 loss Now you have to take the opposite position of the first first bet. You bet €6 on a draw (BACK bet) at a the odd of 5,0 (as stated before). Betting account after placing the BACK bet:
Chelsea wins – €4 profit (€10 for the first bet minus €6 input) Tottenham wins – €4 profit (€10 for the first bet minus €6 input) Draw – €10 profit (as odd is 5,0 x €6 = €30 profit minus inputs of €20 for the first bet). At this time, for example the 30th minute you lay down as you will win in each case! Are you interested in? Get a €30 free bet, you just have to try one of the 3 strategies! |
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