Betting for a straight win has become increasingly tricky. You place a bet in favor of a team, but because of the unpredictability of referees and players, your reasonable efforts go to waste. They can make the wrong decisions or can be corrupt all together. So what should you do? Betting against some predictable results is safer. This introduces us to the concept of betting against a given event popular known as lay betting. This article will explore and provide more details about lay betting and how it is done.
What is a Lay Bet in Football?
Lay betting is a betting technique where the player takes the role of bookmakers by offering odds to sell a bet rather than odds to back a bet. Unlike backing a bet, laying a bet involves betting against an event. Panthers usually support and sell bets at the same time to guarantee huge profits.
When you lay a bet, you are betting for something not to occur. Lay bets are commonly made in bet exchanges with an excellent example in Betfair. A perfect example of a lay bet is; you trust Bayern Muchen to win Bundesliga, but then you doubt their defense. So instead of betting for Bayern Muchen to win, you bet Bayern Muchen not to win. Any other team that wins the cap qualifies your bet to win. However, if Bayern wins, then you lose the bet.
Lay bet is offered by many prominent sports, including Horse racing, football, and volleyball, among others.
How to Play Lay Betting
Most people perceive it as one of the most challenging games to play. But did you know that lay betting is as easy as 1, 2, 3? Going through a simple guide can make you an expert in a matter of a few minutes. Follow this procedure to place your bet:
- Sign up to the bookmaker of your choice. Make sure the bookmaker you chose accept bet exchange. The preferable site to use would be Betfair. Now you are in your account.
- Chose the games that you would like to put your money on when betting. When you view the markets of the game selected, you will find an option of betting against each game. So assume you have chosen Arsenal playing against Watford. In this case, Arsenal is given lower odds, and therefore its probability of winning is very high.
- Lay the bet. Laying an Arsenal Watford bet means Arsenal will not win. If the results of the game are a draw or Watford wins, the bet wins. If Arsenal wins, you lose the bet.
- To place a lay bet, click on the red box on the home interface of the bookmaker that you are using.
When laying a bet, it is essential to understand how it works. Imagine when you make a regular bet and lose what happens? When you lose the bookmaker, keeps your stake as profit. And when you win, the bookmaker pays you. Now when laying a bet, you are selling bet odds for other gamblers to bet.
In this case, you act as a bookmaker. When the gamblers win, you pay them. So here, the win amount will be deducted automatically from your account to pay for the win. This acts as a liability to you.
However, if gamblers lose, you will earn their stake as your profit. Before placing your bet, it is essential to observe lay bet odds carefully. When the odd that you are betting against is large, it means you stand a high chance of losing. So look at the risk of loss and the possible gain, if it’s worth it proceed and make your bet.
Liability in Lay Bet
Liability in lay bet refers to the potential loss that you can make when you lose a bet. This amount corresponds to the total amount in which the selection you rejected has won. Laying bets to make money can only be easy when you fully understand the concept of liability. For example, let’s assume you want to lay at an odd of 3.
The laying (bet against) will have backer’s odds 3, and backers stake $10. The total liability will be indicated at the right-hand bottom end of the bet slip. In this case, the total liability will be $20. When the bet wins, you will lose $20 – which represents a total liability, and when it fails, you gain $10 – which means profit.
Difference Between Back Bets and Lay Bets
Back bets are the most common bets in sports betting. They involve backing a particular game to win. You simple bet a team to win. On the other hand, a lay bet is like betting against the back bet. Like you say, team A not to win. The good thing with lay bet is that it offers greater chances of making returns. The level of risk is also low compared to lay bet.
In summary, lay betting is a technique used by betters to sell odds to bet rather than backing odds to bet. Bettors take the place of bookmakers. Generally, they bet against the events in question. Lay bet works by betting against the selected outcomes. Here, in case the outcome wins, you pay the total win amount.
If the bet loses, you win the stake of the better. It is advisable to match a lay bet to reduce the level of risk. If a lay bet is not matched, the level of risk widens hence limited assurance to make returns. In lay betting, the chances of making a profit are very high. However, if you lose, you might suffer large liability.