Once you’ve understood what a Back Bet is, it’s time to look at its powerful opposite. In this article, we’ll explain exactly what a Lay Bet is, how it works, and why it opens up a world of opportunities for sports traders. If you want to profit when something doesn’t happen, this is the feature you’ve been waiting for.
🔄 What Is a Lay Bet?
A Lay Bet is when you bet against a specific outcome.
In simple terms:
You’re saying, “This will NOT happen.”
Examples:
Laying Manchester United = You win if they don’t win (i.e., they draw or lose)
Laying Over 2.5 Goals = You win if the match ends with 2 goals or fewer
So, while Back Bets are about betting for an outcome, Lay Bets are all about betting against one.
💡 Simple Example
Let’s say:
You lay Manchester United at odds of 2.50
Your stake (liability) is €10
If Manchester United lose or draw, you win €10 (the backer loses, and you take their stake).
If Manchester United win, you lose your liability:
Liability = (€10 x (2.5 – 1)) = €15
So you would lose €15.
📉 How to Calculate Liability
This is a critical part of Lay betting. When you lay a selection, your potential loss is greater than your stake.
Formula:
Liability = Stake x (Odds – 1)
Always make sure you’re comfortable with the liability before confirming a Lay Bet.
💡 Why Use Lay Bets?
Lay bets open up powerful trading opportunities:
✅ Profit when favorites underperform
✅ Use it to hedge an existing Back Bet
✅ Trade in and out of positions
✅ Benefit from falling odds (e.g., laying pre-match and backing in-play)
- ✅ Consider that the odds are at the very bottom and they will only go up
Lay betting is especially useful in football, horse racing, and tennis trading strategies.
🎯 Where to Place a Lay Bet?
In a Betting Exchange like Betfair:
Pink box shows the Lay odds
Click the pink box to place a Lay Bet
You are effectively offering odds to someone who wants to place a Back Bet.
🧠 Laying vs Bookmaker Betting
This is not possible with a traditional bookmaker—you can’t bet against something happening. This is one of the main reasons betting exchanges like Betfair Exchange are preferred by serious sports traders.
⚠️ Be Careful with Liability
Lay bets can be very profitable, but you must be aware of the risk:
A Lay Bet at high odds = high liability
Always know your maximum loss before placing a trade
That’s why bankroll management and staking plans are crucial in exchange trading.
📘 What's Next?
You now know what a Back Bet and a Lay Bet are. But how do they work together?
Our next article will explain the Back and Lay Strategy, showing how traders use both to lock in profits or manage risk during live markets.
➡️ Don’t miss the final part of this beginner series!
✅ Final Thoughts
The Lay Bet is a game-changer in the world of betting. It allows you to trade smart, manage risk better, and even profit when a favorite fails. Once you understand the mechanics and liability, you’re ready to use this tool like a pro.
