When you lay a bet, you are betting on something to not happen. If the selection loses then you win the backer’s stake. However, if it wins then you pay the winnings. This is known as the liability, i.e. how much you will potentially have to pay out.
How does a lay bet work?
A Lay bet is when you bet on an outcome not to happen. For example, if you placed a bet with us on a horse not to win a race, bet on a football team not to win a game or bet on a golfer not to make a birdie on a particular hole. In lay betting, you essentially become the bookmaker.
What does a lay bet pay?
LAY BETS PAYOFFS AND COMMISSION
Payoffs are commensurate with true odds. If you bet $6 on 6 or 8, a winner will bring you $5. If you bet $3 on 5 or 9, a winner will bring you $2, and if you bet $2 on 4 or 10, a winner will bring you $1.
What happens if I lose a lay bet?
If your lay bet loses, you’ll lose your liability in the exchange, but win it back at the bookmaker (as your ‘winnings’). If your lay bet wins, your liability will be returned to your account plus you’ll also win your lay stake amount (minus any commission charged by the exchange).
What is a lay winner?
For example, to lay Manchester United to win their match is to back them NOT to win. If you were to lay them, you would win your bet if they either lost or drew their match.
How do you win a lay bet?
A lay bet is actually betting on the odds of non-occurrence of an event. You don’t want an event to occur, and you are putting your money on such odds. When the even doesn’t occur, such as a team does not win a football match or a horse does not win a race, you win a profit margin on your lay bet.
Does a lay bet include a draw?
So, how do you lay the draw and what does it mean? If you’re not familiar with what a lay bet is, watch this first. Instead of betting that a draw will happen, we are betting that the match result WILL NOT be a draw. In other words, either the home or away team will win.
Do you lose your stake on a lay bet?
Unlike back bets where you only lose your stake regardless of the odds, the liability of a lay bet is dependent on the odds.
What is difference between back and lay?
While in a back bet, you essentially say “this horse will win”, in a lay bet you are betting that a particular horse will not win. Therefore, when you place a lay bet on a horse, you are staking money on it not to win.
How is lay bet profit calculated?
Free bet – stake returned (SR) formulas
- a) Profit if free bet wins: Profit = free bet value * back odds – lay stake * (lay odds – 1)
- b) Profit if lay bet wins: Profit = (1 – commission) * lay stake.
- c) To work out the ideal lay stake for even profit, no matter what the result: …
- d) Final profit for the free bet (SR) stage:
Can you make a living on Betfair?
For most punters, trading on Betfair for a living is just a dream. … But there’s plenty more to it if you’re to end up trading on Betfair for a living. I’ve been through it all myself… The good news is it’s absolutely worth it on the other side!
What is the difference between back and lay on Betfair?
Back betting means putting your money on something to happen – a horse or a team or a player to win, for instance. Lay betting means betting on something not to happen.
Do I get my stake back if I win a bet?
If your horse wins you will get a return from the win bet and also the place bet, because your horse placed in first position! … However, you have won your place bet and you will also get this part of your stake back. For races with 4 runners or less, bookmakers will normally only take win bets.