{"id":3497,"date":"2020-10-15T10:10:49","date_gmt":"2020-10-15T10:10:49","guid":{"rendered":"https:\/\/www.safebettingsites.com\/?page_id=3497"},"modified":"2023-08-09T15:34:31","modified_gmt":"2023-08-09T15:34:31","slug":"uks-best-lay-betting-sites-lay-betting-strategy","status":"publish","type":"page","link":"https:\/\/www.safebettingsites.com\/lay-betting\/","title":{"rendered":"What is Lay Betting? Tips & Strategy Disclosed for UK Bettors"},"content":{"rendered":"

Lay betting\u00a0<\/strong>is when you wager on a particular outcome to a sports event not happening. It is essentially a bet where you want your selection to lose. You don’t have to name the winner as an alternative, just to get your pick beaten.<\/p>\n

Most punters have heard of lay bets, at least in passing, on betting exchanges like Betfair and Smarkets. So what is lay betting and how can you use it in your wagers? When is the correct situation for when to place a lay bet?<\/p>\n

We will try to iron out the terms and situations, on what is back and lay betting as well as in how it applies to certain sports as what is lay betting in football. By the time you have read through this article, you will be perfectly sure on when to use lay and back betting and how to use it to your advantage.<\/p>\n

Lay Betting Explained: What is Lay Betting and How it Works<\/h2>\n

When you place a lay bet, you are betting against another person betting the opposite way. So instead of betting on a set odds with a lot of other players, you use a betting exchange in peer to peer bets<\/a>. Lay betting sites are different to traditional bookmakers. With traditional betting, you bet on something to happen. For example, you might bet on Chelsea to win the EPL. This is known as ‘back’ betting, as you are ‘backing’ something to happen.<\/p>\n

So in short, lay betting is precisely the opposite – you are betting on something NOT to happen. So, you could bet on Chelsea NOT to win the EPL. This is known as ‘lay’ betting as you are ‘laying down’ (i.e. ‘setting’) the odds of the event.<\/p>\n

Lay Betting in a Betting Exchange<\/h3>\n

Lay betting is available on a variety of betting exchanges online today. The betting exchange acts as an intermediary between customers which makes it a betting exchange, rather than a bookmaker. Here, punters can both back and lay bets. The different options are split into two boxes, with blue traditionally being back, while pink is lay.<\/p>\n\"lay\n

Using the example above, you will be able to see that it is possible to place lay bets on PSG not to win, Anderlecht not to win or the match not ending in a draw. You will notice other prices available (in white). These are the prices that others have placed a back or lay bet at, but they are not the most popular prices (the most popular prices are those in blue and pink). So, you could lay at a different price if you want to, but your betting liability<\/a> will be greater if you lose.<\/p>\n

Odds Awareness<\/h3>\n

Just in case you are wondering, the amount of money below the odds is the amount of liquidity available at that price (the total amount of money to be paid by the people if they lose their bet). This is only important really when the liquidity is small, for example, you cannot place a back bet to win \u00a3100 if only \u00a350 of liquidity is available. You can still place your bet but if enough liquidity is not raised, then your bet will be reduced in line with the liquidity available when the event begins.<\/p>\n

In theory, you can offer any odds when placing a lay bet, but if your odds are too outlandish then no one will back your bet and your bet will not be accepted. For example, you could offer odds of 100\/1 that Grimsby Town will NOT beat Liverpool in the third round of the FA Cup, which is the same as saying it is 100\/1 that Liverpool will beat Grimsby. No one with odds awareness<\/a> would take such a bet.<\/p>\n

Differences<\/h3>\n

Just like spread betting, you should always be aware that your losses could be much greater than your stake. All betting exchanges will provide you with a lay betting calculator so you can work out your liability and therefore your potential losses.<\/p>\n

Having selected your preferred option, which in this case will be PSG not to win, it is then time to choose your stake.<\/p>\n\"lay\n

Unlike with a traditional bookie, this is the amount you will make available for others to bet on. Stake x (Lay Odds – 1) = Liability is a good formula to keep in mind here. So, 1.08 – 1 = 0.08. This means that a \u00a3100 stake would result in an \u00a38 loss if the bet loses.<\/p>\n\"lay\n

Having confirmed your bet, the money will go into the relevant market, which will then be available for other punters to match. In the event of your lay bet winning, you will receive \u00a3108 (including your stake). However, should the back bet come out on top, you will be down \u00a38 in liability. This should answer the question what is lay betting system in a nutshell.<\/p>\n

The ‘commission’ aspect comes via the difference in the prices. For our \u00a3100 bet, a winning back bet would return \u00a3107, while a losing lay bet would pay \u00a3108. The winning bettor receives \u00a3107 of that \u00a3108, with the \u00a31 difference going to the exchange. The exchange also charges a commission on all winning bets. This can be a fixed amount, or vary depending upon the number of bets you have placed at the specific site.<\/p>\n

How to Find a Good Betting Exchange for Lay Betting<\/h2>\n

When comparing betting exchanges you should consider a whole host of factors. Some are specific to what is lay betting, while others are more generic and concerned with the standards set at the site overall.<\/p>\n

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