Lay betting is available on betting exchanges like Betfair where, as the lay bettor, you act as the bookmaker. Backers bet on their event and set the odds. As a lay bettor, you provide the action and take their bet at their odds, essentially betting that the backer’s event will not win. What is “lay”-betting? This is a bet where you don’t bet on a specific outcome of a game but you bet AGAINST it. To be exact, in this scenario you will hold the position of a book-maker. If you’re not happy with the odds offered, you can propose a bet to other users, and you decide at what odds you want to do so. Lay odds – the odds which you are prepared to give someone wanting to place a Back bet. Backer’s Stake – the amount you are prepared to let the backer bet with you. This is your potential winnings. Liability – (Lay Odds) x (Backer’s Stake) – (Backer’s Stake). This is the amount you are risking. What is a lay bet? Lay betting is an option on a betting exchange which allows gamblers to play the role of a traditional bookmaker. You set the odds of the bet, and you potentially win the backer’s stake if the selection loses. If the selection wins, you lose the backers stake multiplied by the price of the selection (minus the stake amount). Decimal odds are easier to use. Decimals don't take long to learn, and in time, you will find them far easier to use. The key part to remember is that decimal odds always include the unit stake You can see the back odds are 3.25 in the first screenshot and the lay odds are 3.35 in the second screenshot.. A discrepancy like this is quite typical and is sometimes bigger than this. In such scenarios, it’s possible to use back to lay arbitrage to make a guaranteed profit irrespective of the outcome.. Speaking of making a guaranteed profit, many punters use a betting strategy called A Lay bet is where you bet against a specific outcome, acting as the Bookmaker for ‘Back’ bets. Via a betting exchange, you accept the ‘liability’ (risk) of paying out winning Backer’s bets at the odds agreed. On the other hand, if the Backer’s bet loses, you keep their stake. To many novice punters Lay bets sound complicated. However, when you lay a bet, things work the opposite way round. If you lay £10 on a bet, you’re actually aiming to WIN £10. The amount you could lose – your liability – is £10 multiplied by the lay odds. You then add your £10 stake back on. In simpler terms: The odds to LAY Messi as first goalscorer is 4.0, so your liability is £30. Lay Stake * Lay Odds = Back Stake * Back Odds In above example, we layed Man Utd at odds of 1.50, with stake of 10 units. If there is no goal in about 10 to 15 minutes of the match, you can expect odds to drift to 1.60; if you want to run away from that match, you will back Man Utd with stake of Lay betting is an option on exchanges like Betfair where bettors can play the bookmaker, offering odds to sell a bet instead of to back a bet. It is one component of matched betting, where punters both back and sell bets on the same game to guarantee winning. Lay betting allows you to play the role of the bookmaker.
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