So What Exactly Is A Lay Bet
To lay a bet is to back something not to happen
For example, to lay Leeds 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.
With Betfair you can not only lay any selection, but also choose the price you want to take, and how much you are prepared to risk. The shorter the price you wish to lay, the less money you have to risk compared to your potential reward.
Examples of what a lay bet is:
- Laying a Draw in a soccer match at 13.5 might sound safe, but for every £10 you want to win, you have to risk £125 – high risk and low reward.
- In a horse racing market, the horse “Shakalakaboomboom” at 1.9, is much more likely to win, but to win £10 by laying that outcome, you only need to risk £9.10.
There are all sorts of reasons why people lay bets. Some people find it easier to pick a horse that won’t win, than one that will win. Think about it, if there are 10 horses running in a race, 1 will win, 9 will lose. So with laying, you have a 9/10 chance of picking a ‘loser.’
Some people lay a bet because they think the price is too short. Others will lay first, then look to back the same selection later in-play known as Trading.
Laying need not be scary – you are in full control of how much you wish to risk and how much you could win. In a lay bet, you always stand to win the stake of the opposing bet (e.g. £10 in the examples above). You could be betting against one person or several.
We hope this help you understand what is a lay bet better and any questions please post below.