In standard online betting, picking the winner is not always easy.
But what if you were told that you can pick the loser and still win money?
Lay betting might be the answer you’re looking for.
Whether you’re new to the world of lay betting or have dabbled in this betting phenomenon before, this mini-guide on how to lay bet and win money will cover everything you need.
Read on to find out more about how lay betting works and how you can enhance your knowledge to use modern lay betting strategies in 2022 that will improve your chances of winning.
What is Lay Betting?
Lay betting is the activity of placing a bet on something not to happen.
Unlike standard betting, also known as back betting, a lay bet is effectively betting on the loser to lose, instead of the winner to win.
So in a horse race, instead of betting on a horse to win (in many cases the favourite), you bet on a horse not to win. And if your chosen horse does not win the race – you win!
Lay betting in football also works in the same way. Instead of backing a team to win the match, you lay a team not to win the match. And if the team loses or draws, your bet will be a winner and you will win money.
A lay bet is placed against other bettors, rather than a sportsbook.
How to Place a Lay Bet
In order to place a lay bet, you need to register at an online betting exchange.
Betting exchanges are different than regular betting sites because they allow people to bet against eachother.
Therefore, lay bets are placed among a community marketplace of punters, rather than against the house bookmaker.
Placing a lay bet in 2022 is easy. Simply use the steps below:
1. Find the betting exchange you want to join.
2. Find the sports market or event you want to lay bet on.
3. Select the lay bet option on the event (sometimes colour coded in pink).
4. Enter your bet amount.
5. Observe the bet liability.
6. Click place bet.
What is Liability?
Liability in lay betting is the total amount you may lose if your bet is unsuccessful.
The total liability is displayed before placing the bet. This is the amount you are willing to lose, including commission to the betting exchange provider.
The liability amount increases inline with your stake and is set by the betting exchange provider.
Lay Betting Providers
In 2022, there are plenty of online betting exchanges to choose from, all of which provide a modern betting experience with active users.
Having an active customer base is important in lay betting because bettors are placing bets among themselves, as opposed to betting against the bookmaker.
The top lay betting exchange providers at present are:
2. Sporting Index
Although other sports betting exchanges are available, you will increase your chances of winning money with lay betting at a more active site with a large audience. This is because you are more likely to have your lay bet accepted by another punter.
Why Providers Charge Commission
Lay betting providers charge a commission on your bet in order to make money.
Don’t forget, unlike back betting (standard betting), you are not betting against the sportsbook house, therefore without commission they have no way of winning money in the event of any outcome.
On a betting exchange, one persons lost lay bet is another persons win.
Lay Betting Strategies
There are a number of strategies that bettors use to win money on lay betting, and if you make the right choices consistently, you can make a tidy sum of money on a regular basis.
The following is a brief list of the strategies that can be applied to lay betting if the market is right:
– Lay betting on a severe odds-on favourite.
– Laying multiple bets at the same time (multi lay bet).
– Laying events with more than 2 outcomes (football win-draw-lose).
– Lay bet on out of form favourites.
– Using price boosts or free bets to place a lay bet.
– Place both a lay bet and back bet on an event with only 2 outcomes if the odds are right and where either outcome can return a profit.
To sum up, lay betting is a modern online betting method that can be profitable and win you plenty of money once you learn how to deploy the basics and move on to more complex and enhanced strategies.