What Is Lay Betting And Laying In Gambling?
You can either take this offer or put your own odds for the backers to make bets on. Laying the bet using the BSP at the start of the event offers high profits where you have to pay a small commission. In other words, it’s the amount you stand to lose if your lay bet loses. However, if you’re using matched betting you’ll win this amount back at the bookmaker using back and lay betting.
Such an event will see their odds to win the match drop dramatically. So again, it’s time to trade out of our position by laying Liverpool to win the match. Again, we can cover our original liability completely to ensure that if Liverpool wins, we make a profit but if they fail to win, we break even. Or we can balance our liability, to ensure that no matter what happens in the remainder of the match, we make a profit. Again, the appeal of trading on an exchange should be self evident. As previously mentioned, the dynamic nature of the betting exchange allows punters greater flexibility.
Lay bets on the other hand can only be played at betting exchanges. Lay betting can be enjoyed at sites such as Matchbook, Betfair Exchange, Betdaq and Smarkets. Let’s say you wanted to bet on a football fixture between Everton and Arsenal with William Hill. You wish to place a bet on the Match Result market and Arsenal to win the match. If you place a back bet and the outcome of your selection occurred, you’d win the bet. Below you’ll find all you need to know about back bets and lay bets, including the key differences and examples to guide you along the way.
However, it is vital that you have a good grasp of this concept before progressing. With traditional sports betting, potential losses are determined by your stake. However, at lay betting sites, the potential payout is known as the liability.
At the same time, the odds against them are going to go up. You’re effectively wagering your money that something will not happen. If the player wins, the sportsbook loses and the other way around. To make sure the second scenario happens more often, sportsbooks offer odds that always go to their favor. Betting exchanges allow you to act as a bookmaker by laying a bet .
Otherwise, the bet will not be taken or will only be taken in part. This is because the exchange will never pay any winnings out of its own pocket. Remember, you are betting against other players at a sports exchange, not against the operator.