Back & Lay Betting Explained – What Are the Key Differences

Back and lay betting are two distinct yet complementary ways to place bets, especially popular among experienced Australian punters. But if you’re new to online or matched betting, betting for and against outcomes might seem confusing.

In this guide, we explain:

• The core difference between back and lay betting
  
  
• How each works step-by-step
  
  
• Where Australians can place these bets
  
  
• How to use them in a profitable strategy
  
  
• FAQs answered using real search data.
  
  

For a deeper dive into sports betting basics, see this beginner-friendly guide:
BookiesPedia Bet101 Guide

What Is a Back Bet?

A back bet is the traditional way of betting—you’re placing money on something to happen.

Example:

If you place a back bet on the Sydney Swans to win a match:

• If they win, you win.
  
  
• If they lose or draw, you lose your stake.
  
  

Back bets are accepted at nearly all Australian bookmakers like Sportsbet, Ladbrokes, and Neds.

What Is a Lay Bet?

A lay bet is the opposite of a back bet. Here, you’re betting against something happening.

Example:

If you lay the Sydney Swans to win:

• You win the bet if the Swans lose or draw.
  
  
• If they win, you lose and must pay out the liability.
  
  

Lay bets are only available through betting exchanges like Betfair Exchange or Smarkets. Instead of betting against a bookie, you’re betting against other punters.

Back vs Lay Bet Comparison Table

How to Place a Back Bet

1. Choose your preferred Aussie bookmaker (e.g., Sportsbet).
   
   
2. Select the market and the team/player to win.
   
   
3. Enter your stake (e.g., AUD $20).
   
   
4. Confirm the bet.
   
   

If your selection wins, you get a payout.

How to Place a Lay Bet

1. Join a licensed betting exchange like Betfair Australia.
   
   
2. Find a market and click “Lay” next to the team/player you think won’t win.
   
   
3. Set the lay odds and your stake.
   
   
4. The system will calculate your liability (your potential loss if the outcome occurs).
   
   
5. Confirm the lay bet.
   
   

If your outcome doesn’t happen, you win the lay bet and collect the backer’s stake (minus a small commission).

Where to Bet: Australia

• Back Bets: Sportsbet, Bet365, Neds, Ladbrokes, TAB, Palmerbet
  
  
• Lay Bets: Betfair Exchange (Australian regulated)
  
  

Note: Only licensed betting exchanges offer lay betting in Australia.

Back & Lay Bets in Strategy: Matched Betting

Matched betting uses both back and lay bets to cover all outcomes of a sporting event, ensuring that no matter what happens, you guarantee a profit.

Here’s how:

1. Use a free bet (e.g., Bet AUD $20, get $40 in free bets).
   
   
2. Back an outcome using the free bet.
   
   
3. Lay the same outcome at a betting exchange.
   
   
4. Because you’re covering all outcomes, one bet will win.
   
   
5. The result: You cash in the free bet as profit.
   
   

To learn more about beginner strategies, check the BookiesPedia Bet101 Guide.

FAQs – Back & Lay Betting in Australia