Lay betting is a popular term used in the world of sports betting, but many people are still unaware of what it actually means. In lay betting, instead of placing a bet on a team or player to win, you bet against them. Essentially, you are taking the role of the bookmaker and setting odds for a particular outcome to not happen. This type of betting has become increasingly popular in recent years, particularly in the world of horse racing, and is seen as a great way to get involved in sports betting without having to pick a winning outcome.
In this article, we’ll explore what lay betting is, how it works, and why it has become so popular among sports bettors.
Understanding the Basics of Lay Betting
Lay betting is a type of betting that is available through betting exchanges, such as Betfair. When you lay a bet, you are essentially taking the role of the bookmaker and setting odds for a particular outcome not to happen. For example, if you were to lay a bet on a horse to not win a race, and the horse did not win, then you would win your bet. If the horse did win, then you would lose.
One of the key differences between lay betting and traditional betting is that with lay betting, you can bet on an outcome not to happen, whereas with traditional betting, you can only bet on an outcome to happen. This opens up a whole new range of betting opportunities and allows you to be more creative with your betting strategies.
How Does Lay Betting Work?
Lay betting works in a similar way to traditional betting, but with a few key differences. When you place a lay bet, you are essentially betting against a particular outcome. This means that instead of picking a team or player to win, you are betting against them.
For example, if you were to lay a bet on a horse not to win a race, then you would win your bet if the horse did not win. If the horse did win, then you would lose your bet.
One of the key benefits of lay betting is that it allows you to bet against an outcome, giving you more control over your betting strategies. It also means that you can win your bet even if your selected team or player does not win, as long as the outcome you bet against does not happen.
Why is Lay Betting Popular?
Lay betting has become increasingly popular in recent years for a number of reasons. One of the main reasons is that it offers a new way to get involved in sports betting without having to pick a winning outcome. This is particularly appealing to people who are new to sports betting or who find it difficult to pick a winning outcome.
Another reason for the popularity of lay betting is that it allows you to be more creative with your betting strategies. With traditional betting, you can only bet on an outcome to happen, but with lay betting, you can bet against an outcome not happening. This gives you more control over your betting and allows you to be more strategic with your betting decisions.
Risks and Rewards of Lay Betting
As with any type of betting, there are risks and rewards associated with lay betting. One of the main risks is that you can lose your bet if the outcome you bet against happens. This means that you need to be careful when selecting your bets and make sure that you have thoroughly researched the event and the outcomes you are betting against.
On the other hand, one of the key rewards of lay betting is that you can win your bet even if your selected team or player does not win.
Conclusion
Laying is betting on something losing, you have the same risk as betting if not more, with laying you have liability and it can often be more than you expect so please make sure you understand what your liability is on a lay bet before you place it (it tells you on Betfair).