The Two Types of Matched Betting
The two types of matched betting are “backed bet” and “lay bet.” In a backed bet, you are backing a team or a person to win. For example, you are betting that LA Lakers will be the champion for this season. As such, you place a bet on that team. If LA Lakers win the championship, then you also win. If they lose, you also lose your bet.
In a lay bet, you are betting against something. This something is an outcome that is almost certain to come true. For example, let us say that Manny Pacquiao is a heavily favoured boxer against Keith Thurman. In a lay bet, you are saying that Manny is NOT going to win. If your prediction is true and Manny loses, you win the bet.