For an example, if we lay a bet of £10 on Arsenal to win at odds of 2.0, it means that we are accepting another punter’s traditional back bet of £10 on Arsenal. We sell these bets to other punters on an exchange. When we lay a bet, we are acting as the bookmaker, where we can sell a bet at with our own odds. Placing this traditional bet is also referred to as a back bet.Ī lay bet is the complete opposite. If Arsenal loses, we lose our bet of £10. For an example, if we place a £10 bet on Arsenal to win at odds of 2.0, we are “buying” the bet at odds of 2.0, where we will win £10 x 2.0 = £20 (including our stake) if Arsenal wins. Traditionally, when we place a bet at an online bookmaker or at a physical bookmaker shop, we are “buying” a bet at the odds set by the bookmaker. Lay betting is where we sell the odds for a bet on a sports event.
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