A Lay bet is when you bet on an outcome not to happen. For example, if you placed a bet with us on a horse not to win a race, bet on a football team not to win a game or bet on a golfer not to make a birdie on a particular hole. In lay betting, you essentially become the bookmaker
A bookmaker, bookie, or turf accountant is an organization or a person that accepts and pays off bets on sporting and other events at agreed-upon odds.
What is lay betting in football?
Lay betting is a betting method used by savvy sports bettors who play the role of the bookmaker to ‘sell’ bets. It’s a method that’s increased in popularity in recent years thanks to the emergence of betting exchanges like Betfair.
What happens if my lay bet wins?
Lay betting is a form of betting offered by a betting exchange whereby the bettor can back an outcome to lose. A lay bet will be successful if the selected outcome does not win the event. For example, the favourite for the race might be $3.
What is lay liability in sports betting?
Lay betting allows you to understand how bookies work. It also lets you understand how to use a betting exchange and combine multiple betting. The learning potential is huge and I can tell you important things that need to be done. Are you ready? Let’s dive in! What really is lay betting?
How do I place a lay bet with Betfair?
Mar 14, 2022 · Lay betting is a type of bet that are most commonly played of betting exchanges (more on this in a bit). In some other sense, lay betting system has been described as a betting system that affords punters the privilege of betting against the odds of an outcome as opposed to betting for it (this is back lay betting explained earlier).
How do lay bets work?
To lay a bet is to back something not to happen. For example, to lay Manchester United to win their match is to back them NOT to win. If you were to lay them, you would win your bet if they either lost or drew their match.
Can you make money lay betting?
There are many ways to make money on betting exchanges, the most obvious one being backing/laying bets. Although this method can be pretty profitable, it does come with a risk. After all, backing and laying is just another form of betting.Nov 27, 2019
What is the meaning of lay in betting?
betting on something not to happenLay betting means betting on something not to happen. For example, if you lay a football team to win your bet will be settled as a winner if the team loses or if the game ends in a draw – so two outcomes are playing in your favour.Aug 1, 2019
What happens if a lay bet wins?
When you lay a bet, you are betting on something to not happen. If the selection loses then you win the backer’s stake. However, if it wins then you pay the winnings. This is known as the liability, i.e. how much you will potentially have to pay out.
How do lay bets make money?
A lay bet is actually betting on the odds of non-occurrence of an event. You don’t want an event to occur, and you are putting your money on such odds. When the even doesn’t occur, such as a team does not win a football match or a horse does not win a race, you win a profit margin on your lay bet.Feb 11, 2021
Is lay betting legal?
Matched Betting is 100% legal. Not many punters will think of using their free bets this way, laying off on exchanges and locking in profit – they will just gamble them and most likely lose. If bookmakers didn’t want to offer free bets, they wouldn’t. It’s as simple as that.Feb 27, 2022
What happens if I lose a lay bet?
If your lay bet loses, you’ll lose your liability in the exchange, but win it back at the bookmaker (as your ‘winnings’). If your lay bet wins, your liability will be returned to your account plus you’ll also win your lay stake amount (minus any commission charged by the exchange).Jun 24, 2020
How much does a lay bet pay?
LAY BETS PAYOFFS AND COMMISSION Payoffs are commensurate with true odds. If you bet $6 on 6 or 8, a winner will bring you $5. If you bet $3 on 5 or 9, a winner will bring you $2, and if you bet $2 on 4 or 10, a winner will bring you $1.Jul 23, 2017
What is the difference between back and lay in betting?
While in a back bet, you essentially say “this horse will win”, in a lay bet you are betting that a particular horse will not win. Therefore, when you place a lay bet on a horse, you are staking money on it not to win.Feb 19, 2020
What is lay bet?
Lay bets is one of many betting strategies that could change the game for you. It’s not easy to get right, and there is a lot of effort required in order to turn a profit, but it can be very appealing.
Do lay bets back something?
To many recreational bettors, the idea of placing a lay bet remains an unusual concept. This is because contrary to most other types of betting, you don’t back something to happen. Instead, you back it not to happen.
A betting exchange is a trading platform whereby bettors can exchange bets. Bettor A thinks that Team A will win, Bettor B does NOT think that Team A will win. The two bettors trade at a price agreeable to both. A betting exchange is very similar in operation to a stock exchange.
Lay betting with Betfair
Lay betting is available with all betting exchanges. Betfair is the world’s largest betting exchange and therefore has more liquid markets and provides greater availability of lay betting opportunities.
Lay betting explained: Sports example
The example shows the market for A tennis match between Djokovic and Nadal. The back odds are in blue and the lay odds in pink. The darker pink cell shows the lay bet. The bet is to lay Djokovic to win the match meaning that we believe that he will not win. The cost of putting on the bet per $1 is 63 cents.
Lay betting explained: Horse racing example
The selected bet is to lay Black Caviar to win the race meaning that we believe she will not win the race. The cost of putting on the bet per $1 is 12 cents. If the lay bet is successful and Black Caviar loses, the bet will return $1. If the lay bet is not successful and Black Caviar wins the race, the bettor will lose 12 cents.
Other Forms of Lay Betting and Its Practice
Lay betting goes by some other names among which include lay bet matching, arbitrage betting, matched betting, and double betting. Lay betting is a type of bet that are most commonly played of betting exchanges (more on this in a bit).
In a lay betting system, almost all your dealings are made on a betting exchange. In the simplest sense of term, a betting exchange is likened to a stock market, with the only difference that people are dealing in winners and losers on betting exchange instead of stocks and shares on stock market.
Lay betting system in Horse Racing
Now let’s look at a more lucid example of lay betting in horse racing. Lay betting is just an act of taking someone else’s (another punter’s) bet; it will most likely happen on a betting exchange.