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About LAY Odds

 

You  have  seen  how  BACKING  odds  work  when  you  are  placing  a  bet  with  a 

Bookmaker. Now, all  there  is  to understanding LAY odds,  is  to  reverse  the role. You 

are now  the Bookmaker and accepting bets  from others. Look at  the examples again 

(Chapter ­ About BACK Odds), but this time put yourself in the Bookmakers seat. 

When you look at the layout of the Betting Exchanges later in this manual; in our case 

Betfair,  you  will  see  two  sets  of  odds  ­  one  for  those  wishing  to  "BACK"  A 

CONTESTANT  TO WIN  and  one  for  those  wishing  to  "LAY"  A  CONTESTANT  TO 

LOSE. 

You will select  the LAY odds  if you wish  to act as Bookmaker. Put  simply,  it means 

other users of Betfair will be placing bets with you, as  if you are a Bookmaker. They 

will be betting on the contestant to WIN, whereas you will be looking for the contestant 

to LOSE. 

When LAYING you will be looking for, or asking for, as LOW ODDS as possible.




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