Lay betting is just the opposite of “conventional” betting. Lay betting means to gamble that a side will not succeed, instead of pre-arranged bets on a side to win. There are a few online platforms where you can place a lay bet. This article will help you understand the value of lay bets and its application.
What is Lay Betting?
A lay bet is when you gamble on a result not occuring. For example, you should put money on a horse to not win a particular race or bet on a team to not win the game.
Lay betting allows you to become the bookie or bookmaker. Although forecasting or predicting any race or match results can be challenging, you will find it much easier to estimate which one side will not succeed. In this particular case, lay betting requires the gambler to bet that a specific event will not occur.
Lay betting liability
This can seem not very easy at first, but it is. Simply put, if you place a bet on a choice, you are gambling on it to not win. This is a relevant bet to make in an industry where there are three or more choices.
Often in lay betting, you will risk more than you have put on stake.
For instance, if you lay a 2/1 shot on something that costs £20 and it loses, then you get £20. If you are incorrect and it wins, then you will lose £40.
It is important to note that lay betting can have costly repercussions. You must grasp the definition of ‘liability’ when engaging in this form of sports betting. Liability in sports betting is the sum of money that you will risk by making a lay bet.
If you are backing something to win, you will be risking just your original investment, no more. But if you make a lay bet, you will be exposed to far more risk. This measure or total liability is the total amount that you risk losing should you be wrong.
What is an online betting exchange?Â
A betting market for bettors is called a betting exchange. This is similar to a stock exchange, where individuals are concerned with losers and winners rather than securities and stocks.
With betting exchanges, you can sell or buy any predetermined result in a specific sports game. You can support a horse at a particular price or gamble on its loss at a specific cost. You can trade the case in at any time during the course of the event on a betting exchange. This is done in order to get profit without worrying about the results.
The most significant distinction between conventional bookmakers and a betting exchange is that in the latter, gamblers bet on each other. You will fix the price of any result you wish to occur.
Gamblers could position themselves either as a bookmaker by setting the betting odds on any event and receiving bets or as the bettor by making bets on the odds offered by other bookmakers.
The consumers set the price by providing their particular take on the potential markets in a betting exchange. A betting exchange simply encourages users to put and accept different forms of bets (backing or laying). The betting exchange just charges a tiny commission on the bets made.
Lay betting systems
Seasoned punters would use lay betting schemes because they want to get the best odds of making a profit while doing online betting. This will include lay and back bets.
For example, you might back a horse before a particular race at 20/1 and lay the same horse at lower odds in the middle of the race to make sure of a profit irrespective of the result. The bettor might use a lay and back calculator to calculate the precise margins they need to consider.
Lay and back betting needs thorough experience and a great deal of knowledge about in-play betting but can tend to be lucrative if performed correctly over a long period.
Lay betting in Horse Racing events
Horse racing is one of the most popular sporting events which involves lay betting. Picking winners in a race is very difficult. In the case the favourite is a short value, it is more efficient to select it to lose.
Lay betting in Football events
Take an example of Liverpool playing Manchester United, and after reviewing the statistics, you find out that Liverpool is not likely to win. Hence, you can place a lay bet on them. Therefore, you must position them.
You are making a wager that Liverpool would not win the football match. If MU wins the game or the match results in a tie, you will win the bet. This is a typical trading trend in the football betting industry.
Learn about lay betting properly
All sports share the very same principles. You must have excellent command of the ins and outs of lay betting before becoming involved with it.
Summary
You are investing your money on anything to not occur. But even if the pick does not win, you get the stake of the backer. But if your choice manages to win instead, then you have to reimburse back. And if you are interested in other forms of sports betting, you can visit Winissimo and place a bet on any sports or event of your choice.
FAQs
What exactly do you mean by a lay bet?
This type of bet means you can place a bet on any event that the result won’t happen. It can either be on any horse not winning a race, or that a team will not win a particular match, or even a player will not win any competitions. Essentially, bettors become bookmakers.Â
How much does a lay bet payout?
The chances vary to a degree determined by the lay bets. If you put a bet on horse racing involving ten runners, you will get “decent chances” which implies that you will win your bet as long as any of the other horses win.
Can you bet on a performer or a team not to win the event?
Yes, that is a form of lay betting. A lay bet’s fundamental goal is to embrace the favourite. When you foresee a result of surprises but cannot really forecast a winner, you should set down a lay market instead of endorsing another of the players.
Which sports are better to put a lay bet on?
Among the most common forms of gambling sports – football and horse racing. Bookmakers also sell this sort of ‘lay’ odds on big sporting competitions for a heavy frontrunner.