Question about lay odds

[onebet]

I'm having a hard time figuring out the relationship of back odds to lay odds, and I hope someone can help. I started off by thinking, which is the sharper odds, the back odds or the lay odds? But that doesn't go anywhere, because if more money is coming in to back the back odds go down, but if more money is coming in to lay, the lay odds go up. What is the significance in terms of a bet, when the lay odds are higher by 8 or 9 pips than the back odds? Is that an indication that it would be a bad back bet, but a good lay bet?
Forgive me if I'm overlooking something obvious, but I would be grateful for some further enlightenment.

 

[scoresodds]

If there is a big gap between back and lay odds it simply means there is not much liquidity in that particular market. If there is a large gap in the odds then the back odds and the lay odds are more than likely to both represent bad value. This is the case on all secondary markets on every exchange these days.