What is Lay Betting

WHAT IS LAY BETTING ?

Lay Betting is where we place a Bet on something We DON'T Think will happen, so in effect we become the Bookmaker. The Lay bet is one side of Matched Betting. The First side is the "Back Bet" which you would place at a Bookmaker, The "Lay Bet" is the second part. This way we cover all possible outcomes of an event or Match.

EXPLAINING LAY BETS

Lay Betting is a Technique Matched Bettors use to their advantage to profit from Offers Bookmakers are offering to both new and existing customers. It allows us as Matched Bettors to sell our bets instead of the more common back bet. We place Lay Bets with a Betting Exchange so that we can bet AGAINST an outcome of an Event or Match. When we place a Bet at a Bookmaker we are betting on an Event or Match to Happening

EXAMPLE OF A LAY BET

Liverpool are second Favourites to Win the Premier League but you don't think they are strong enough to beat the rest of the Competition so you spot an opportunity to Lay them to win the League. With a Lay bet you can take somebody else's bet who thinks opposite to you and that Liverpool WILL Win the League. In the Image Below is an Example of a Lay Bet on Liverpool to Win the Premier League. The Green Numbers are the Potential Winnings if Liverpool DO NOT Win the League & the Red Numbers are the Potential Loss if Liverpool do win the League

 

HOW TO PLACE A LAY BET

1 - Find The Market you Need

All Betting Exchanges are similar in Terms of Layout but we will use Betfair for this Example. The Market we are Using is a Premier League Match between Watford and Liverpool. The Blue Boxes are to place a "Back" Bet and the Pink Boxes are to place a "Lay" Bet

2 - Click your Selection

Click the "Lay" (Pink) Box of your Chosen Selection, We are going to "Lay" Liverpool to win the Match. Laying Liverpool is the same as Backing Liverpool NOT To Win. Once you have selected the Box it will Open the Bet slip on the Right Hand Side

3 - Enter your Stake

Now we have selected to "Lay" Liverpool and it has shown up in the Bet Slip we now have to enter Our Stake, This is different to a Normal Bet as we are inputting the amount we wish to make available for other Punters to bet on. So we are the Bookmaker and this amount is how much a Punter is going to give to us to take the bet. The Circled Number (Liability) is the amount you would have to Pay the Punter if they win

4 - Place the Bet

When you "Place" the Bet it goes into the Market for other Punters to Match. If there is already a Punter who has a bet waiting in the System it will be Matched Immediately. Otherwise we wait until it becomes Matched. If our "Lay" bet Wins we would win the £20 we have put into the Market minus 5% Commission that the Exchange takes. If our Lay bet Loses we would lose our Liability (£11.20) to the Punter

USING LAY BETTING IN MATCHED BETTING

So we have to cover ALL Possible outcomes of an Event or Match when we are Matched Betting. This involves Placing a Back Bet with a Bookmaker and then Laying the Opposite Outcome with a Betting Exchange. This allows us to Unlock the Incentive offered by the Bookmaker and then we extract the Profit from the Incentive