Lay Betting Explained! What is Lay Betting?
As lay betting is a relatively new concept a lot of people need Lay Betting Explained.
Lay betting is actually a very easy concept and that is merely that you are betting on an outcome of an event that the team, horse, player will not win! In essence you are betting for say a horse to lose a race!
You can only really place lay bets on betting exchanges such as Betfair. The way betting exchanges work are basically you are betting against other punters. For example punter A could choose to back a horse like normal while punter B lays the same horse for the odds requested and vice versa. We will give you more information about exactly how to lay bets on betting exchanges in the next post.
Sounds easy right? How hard can it be to pick a losing horse out of all the horses in a race?
Well the thing is with lay betting is that you can lose a lot more than you can make in a single event if the outcome that you think will not win actually goes on and wins. Its all about LIABILITY!
Lay Betting Explained – Liability
OK, Liability! This is where lay betting can become dangerous if you dont fully understand it. If you have any questions about this Lay Betting Explained post please reply and we will answer. We will also add more resources to the site at the end of this post as they are added to the site.
When you are laying say a horse to lose you are betting that the horse will NOT win the race!
So lets take this picture of a lay bet below as an example (Click To Enlarge) to explain lay betting.
As you can see there is a back bet market in blue and a lay bet market in pink. All we are looking at is the lay bet market.
Once you have chosen your horse that you think will not win the race you click on the corresponding pink tab. In this case we are going for the favourite Nambisco because we we think the competition is too strong and there is a very good chance he wont win!
As you can see the lay odds are 2.38. That means for every £ (or euro in this case) you put on you will have to pay £2.38 if the horse actually does what you don’t want it to do and wins.
So in this example we have placed a £10 bet on Nambisco to lose. If Nambisco loses we win £10. If Nambisco wins then we unfortunately lose £23.80.
Lay Betting Explained – Where To Bet
Basically you can only place lay bets on betting exchanges such as Betfair.
By far the main and most popular betting exchange is Betfair. They really have the monopoly with the betting exchanges and to be honest its where we do all out lay betting. The only other option is Betdaq which is worth checking out as you can sometimes get lower odds to lay.
Once you have mastered how to lay a bet then the obvious path to take would be to start trading and with betfair being so busy the liquidity is much higher so there are far more opportunities to trade.
Lay Betting Explained – Conclusion
As you have seen in the example lay betting has high liability but can be very lucrative when done properly. There are rules to follow and systems you can implement to pick your selections and we will show you everything you need to know about placing lay bets and winning on this site.
It is obviously easier to pick a losing horse than a winner but it needs to be done the right way for consistent profits.