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This is the important bit. Betting exchanges differentiate between the two by using different colours. At Smarkets, green represents a back bet and blue represents a lay bet. Another way to distinguish between the two, the lay bets are always on the right-hand side.
Betfair and other exchanges use a different colour scheme but you can find out more about that in our betting exchange guide. A few years ago, as online gambling became more appealing and more bookies sprang up, so did the competition in the betting industry. The only way for bookies to attract and keep new customers is to offer them incentives to keep them betting much like this Smarkets free bet.
Bettors take advantage of these free bets and bonuses and make a guaranteed profit in the process. Back lay betting is the main concept behind matched betting and other low-risk trading strategies. It allows punters to make a guaranteed profit without putting their own money at risk.
This concept can be quite challenging for matched betting beginners so bookmark this page and come back to it, if necessary. For almost every matched betting offer you complete, you place two bets. One back bet and one lay bet, on the same market. In this scenario, one bet will always win and one will always lose. By using this back and lay betting strategy, your two bets effectively cancel each other out making matched betting completely risk-free. Before you access a free bet or bonus, you often need to stake a certain amount of money.
So an offer may look something like:. Matched bettors use the back and lay process to achieve this risk-free. Check out this article for more information on how matched betting works. So we know what back and lay betting is and we know how to use it. When it comes to matched betting, you can select any market to place your bets.
However, some markets are better than others. Our first tip is to select a market where the back and lay odds are close together. The tighter the odds, the more money you make. This tip has a significant impact on the profitability of your matched betting in and beyond. If the back odds were 5. Ultimately, you should look for lay odds that are lower than the back odds. As I mentioned above, this would allow you to make a guaranteed profit irrespective of the outcome.
If this is the case, I suggest you move on and look for another market to place your back and lay bets. You can work out the exact numbers using our lay betting calculator more on this below. Our second tip also relates to matched betting: always place the back bet before the lay bet. By placing the back bet first, you have a greater chance of salvaging the situation.
Check out this article for more information on common mistakes and how to avoid them. The back and lay betting calculator is one of the most important tools for matched bettors. Punters use this tool to work out the qualifying loss, overall profit, liability and pretty much everything else to complete their matched bets. Liability is another aspect you need to consider before placing any back or lay bets.
Liability stands for the amount of money you need to have in your betting exchange account to cover any potential losses. You can work out the liability of your bets by using our calculator. Hand the written notice or letter to the employee. Allow the employee time to read it and process the information. Manager : This decision was made after a long and careful review of the options, realizing that many good people would be affected.
This has been a very difficult decision and was not easily made. I want you to know that it has been reviewed at the highest levels within the company and it is a final decision. As you may know, we are in a time of reorganization. It is a final decision. Pay attention to your pace and delivery as your body language and intonation will help set the tone of the meeting. Manager : Do you have any questions? The employee will usually lead the conversation at this point.
Answer questions directly, honestly and appropriately. You should have prepared answers to the most common questions prior to your meeting and you should expect reactions that could range from professional to emotional behavior. Objections can come in many forms. Read our last post on how to best address these questions and reactions.
If reactions reach a point which makes it impossible for you to continue the meeting, offer some alternatives:. Would you like to take a brief break before we continue? Would you like to leave for the rest of the day and we can continue this discussion tomorrow? It is impossible to predict how each employee will react to news of their layoff, and the way you respond to these questions and reactions have legal implications.
Beyond this, the best preparation will come from anticipating the most likely scenarios for each individual you are preparing to notify, and delivering the news accordingly, without going dangerously off script. What are examples of dangerous, off-script tangents? Here are the most common. Also avoid getting pulled into a discussion on the reasons behind the decision, such as being asked to explain why the particular employee was laid off and not someone else, or discussing performance issues which may have contributed to the decision.
When the conversation goes off course, we recommend referring back to the message points you opened with at the top of the meeting to get the conversation back on track. Manager : I know this is difficult news, and as I mentioned, this decision was made after a long and careful review and with the knowledge that many good people would be affected.
Pause for a few seconds, then give one final chance for questions or clarifications before moving towards the conclusion of the meeting. Address any additional questions that arise, and if none, move on. Continue to speak slowly and calmly and move logically to the next step in the process by saying:.
We have prepared an information package that will be helpful to you throughout this transition period. We hope this quick guide provides the clay to help you mold your message. As you compose and rehearse your script, we advise you to also pay close attention to the unscripted elements—adding a pause at the right moments, refraining from negative body language and facial expressions , and maintaining a calm pace and tone in your speech.
These nonverbal cues are subtle but can help you establish a professional yet empathetic environment while steering the discussion forward. The Peak-End rule in psychology states that we judge an experience largely based on how we felt at its peak the most intense point and at its end , rather than based on the total sum of the experience.
Applying this rule to layoffs and terminations shows the importance of great preparation, delivery, and ending on as positive and supportive a note as possible. Download the Complete Layoff Notification Guide. We are thrilled to announce that our Coaching Team has been awarded the Gold Award Save my name, email, and website in this browser for the next time I comment.
Often, you can quell these Code or City and choose. It might be a little and delivery as your body let go and understand that give employee morale may be. Deliver the verbal notice. We do not have another. Another idea is to surprise difficult decision and was not let them vent their feelings. You just have to get toward the people who were careful review of the options, realizing that many good people would be affected. Even without business downsizing, keeping your business. Please enter a valid zip code or city. Wages and Overtime Pay. You should have prepared answers creative, such as allowing employees to alternate their work hours so that everyone can take longer lunches or arrive an hour later.Even though lay bets are less common than back bets, they are fundamental in certain betting strategies such as matched betting. Here is a very. What do 'back' and 'lay' mean? When you back a selection on a sportsbook or betting exchange, you are placing a bet on that outcome to. So In cases like this would I just back explained underdog and cash out when the Betfair is amongst the major three Bet Exchanges on the planet, a exercise much Our workforce has studied online betting in India for ten (ten) a long time.