Exchanges
Lay bet
Betting that something will not happen: you act as the bookmaker and take someone else’s back bet.
Also called Lay, Laying
Example Lay $10 at 3.00: if it doesn’t happen you win $10; if it does you pay $20.
- Good to know
- What you can lose is your liability, not the lay stake.
Related
Exchanges
Liability
What you stand to lose on a lay bet if the outcome happens: the lay stake times the odds minus one.
Exchanges
Back bet
Betting that something will happen, like a normal bet at a bookmaker. On an exchange someone else lays your bet.
Exchanges
Matched betting
Backing an outcome with a bookmaker and laying the same outcome on an exchange, to turn free-bet offers into a small, mostly fixed profit.
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