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Is anyone familiar with Betting Exchanges and Lay betting?

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Posted: #1
Has anyone here done lay betting in betting exchanges? I bought the picks from bettingresource 2 weeks ago and lost 40 units in the first week and 55 units in the 2nd week. (most plays are for a risk of 8 units and some less than that). I emailed them asking how are they charging for picks this shitty and they said that the picks are for lay betting and if i am betting the picks in normal sportsbooks instead of betting exchanges, i have to bet the opposite of the pick. apparently betting exchanges have option to lay the pick and other bettors will buy your pick and if the pick loses you win because other guy played on the pick. so i tried to join betfair and it says they don't take canadians, which is strange because online betting is legal in canada. are there any other betting exchanges that work in canada...i only heard of betfair for betting exchange but no more canadians. 
 
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Posted: #2


1. You paid for a tout = 99% of these have no clue and make picks based on their "formula" which is just a coin flip.
2. Yes, there are betting exchanges where you can lay for the opposite results - but it sounds to me your little tout is just making an excuse for his poor result.

In summary, you got scammed.
 
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Posted: #3
I bought because i read good reviews on capperteck and their website was registered more than 10 years ago. scammers don't last, they change shop every year.  when i joined, it was right in their front page that they use lay betting to help clients with their investments but i had no idea what it meant. I just assumed its like a normal picking service where they give you picks to bet. they should probably put it clearly on their site what lay betting means because i can see others doing the same. i have been betting for over 5 years and i have never heard of the term lay betting. i have heard of laying the juice when you play favorite but that meaning is no where close to lay betting. i do know what fading means...they should atleast put fade picks with the term lay betting. they must be from europe or asia or australia, because i googled up lay betting and almost all the results are from those regions.

are you from canada? are there any other betting exchanges other than betfair? oh and it must cater to canadians. 
 
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Posted: #4
is lay betting option only possible in betting exchanges? does any sportsbook have lay betting option...because i hate looking at a pick and trying to bet the opposite...i can see myself accidentally betting the pick every now and then instead of the opposite.

i use pinnacle and i don't see anywhere an option for lay betting.
 
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Posted: #5
1. No. No one uses a betting exchange.
2. Like I said 99% of touts are scams.
3. You actually sound like a tout yourself - please stop.
 
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Posted: #6
Quote Originally Posted by fadeORdie:

1. No. No one uses a betting exchange.
2. Like I said 99% of touts are scams.
3. You actually sound like a tout yourself - please stop.

What is wrong with you dude. If you can't help just stay out.

No one uses betting exchange? I was just doing research and apparently betfair has the most volume of betting in the world when it comes to online betting....that means a lot of people are using it. I gues nobody uses it in canada or usa since they don't take anyone from here.
 
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Posted: #7
Just play the picks opposite. 
And cash in the winnings. 
:)$
 
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Posted: #8
Quote Originally Posted by darin67:

Just play the picks opposite. 
And cash in the winnings. 
:)$

Yes, that is what i am doing now. But i already accidentally bet the pick once. I have to get used to looking at a pick then betting the opposite. That is why i was looking at betting exchanges because they have the lay option. 

But i can't find an exchange that doesn't take canadians. I found this other exchange called matchbook but they also don't take canadians.

i don't get it, why are they not taking canadians. all normal sportsbooks are legal in canada but not exchanges? what is the difference?
 
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Posted: #9
Who bets the opposite of their own picks.Kinda dumb and more confusing as f**k. I dont know about u guys i bet for the team to win or win the pointspread. If someone can explain how laying a team works i would like to know. Sounds like to me when you are laying the bet u are just being the bookmaker. Good luck on that if you can find someone to place that bet or else get stuck like chuck and left withlosing money.
 
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Posted: #10
Just try fairlay
 
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Posted: #11
Quote Originally Posted by hillardoh1:

Who bets the opposite of their own picks.Kinda dumb and more confusing as f**k. I dont know about u guys i bet for the team to win or win the pointspread. If someone can explain how laying a team works i would like to know. Sounds like to me when you are laying the bet u are just being the bookmaker. Good luck on that if you can find someone to place that bet or else get stuck like chuck and left withlosing money.

Yes, that is exactly my thought. WHy not just release the opposite pick then. I am guessing most of their clientele is from outside canada or us where betting exchanges are popular. in betting exchange people bet with each other instead of with the book itself. 

I am still puzzled why betfair and matchbook don't take canadians while all the normal books are legal here.
 
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Posted: #12
I thought with lay bets on exchanges you try and get someone else to take the team you  think will lose.  There is action on both sides.....
No need to outrun the bear...just the next slowest guy
 
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Posted: #13
im from england and use betfair all the time.its an exchange where punters bet with each other, betfair holds the money until the result is known and then they take a % from the winner between 2 and 5% depending on how many points you have accumilated. its the biggest gambling site out there and u can literally bet on any sport from any country. it is illegal in america and canada as far as i know despite the fact i can bet on any sport from both of those countries. it is so popular in the uk because it is so difficult to get bets on in our betting shops if you are a proven winner so many people flock to the exchanges where providing the liquidity is there you can bet as much as you want. hope that helps you wizebettor
 
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Posted: #14
regarding the lay side if someone has a request up that you dont fancy you can lay their bet as long as you have the requesite funds available in your account
 
 
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Posted: #15
topshow thansk for the info. i still don't understand why its illegal in canada. online betting is legal in canada. every online sportsbook operates in canada. why is betting exchange illegal in canada? 

I could really use an exchange to lay the picks from bettingresource. 

for now i am just betting the opposite on pinnacle.
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