What is Lay Betting?

What is Lay Betting?

When you place a bet at an Australian sports betting site, you are backing an event to occur. You’re backing a horse to win a race, a team to win a match or a player to defeat their opponent.

But did you know that Betfair allows you to do the exact opposite? It’s known as lay betting.

Lay betting is when you’re betting against an event to occur. You’re betting that a horse won’t win a race, a team won’t win a match or your player will lose to their opponent.

It’s a perfectly viable and reasonable way to bet, and it’s unique to the Betfair Exchange.

On the Betfair Exchange, when you place a lay bet, you are effectively acting as the bookie and offering a price that other people can place a Back bet with you.

To place a lay bet, click in the pink Lay column on the Betfair Exchange and enter the profit you would like to make and the site will display your risk (liability). By clicking on the odds already displayed, you are accepting the odds set by the punter who wants to place the corresponding Back bet at that price. If you want the odds more in your favour, just enter the odds you would like and wait until a punter matches your price on the exchange.

Here’s an example of how Lay Betting works:

Say you think Richmond won’t be able to win the 2020 AFL Premiership. You log on to the Betfair Exchange and see that they are currently available to Back at $5.40 or to Lay at $5.50. You decide you want to profit $100 by laying Richmond at that price. Your liability is $5.50 x $100 - $100 = $350. So this will be if Richmond win, you’ll lose $350, however if any other team wins, you’re set to make $100.

Betfair AFL Premiership 2020

Lay betting is especially popular with sports traders. Often they will back and lay a particular market multiple times to continue to improve their position on an outcome.

Just make sure you have enough funds in your Betfair account to cover your liability or you won’t be able to place the lay bet.

Check out this video for more information on lay betting:

To read more about Betfair, check out our Betfair Review page, and if you want some more help with back and lay betting, or any other sports trading strategies, head to our Educational section or check out the Betfair Hub.

Betfair

TIPS

Ballarat Racing Tips: Wednesday, September 30th

It's a rare midweek meeting at Ballarat for metropolitan racing in Victoria on Wednesday, leading up to Turnbull Stakes day this weekend! Trent Crebbin has studied the form for all eight races and provided his preview and betting tips below! read more

2020 PGA Tour: Sanderson Farms Championship Betting Tips

We are back this week as the PGA Tour heads to the Country Club of Jackson in Mississippi for the annual Sanderson Farms Championship. We have a full preview and betting tips for the upcoming event here read more

Kensington Racing Tips: Wednesday, September 30th

Sydney metropolitan racing takes place on the Kensington track at Randwick this Wednesday, September 30th, with seven races on the card. Joshua Reed steps in for his first midweek preview and he's provided his thoughts on every race here! read more

AFL Brownlow Medal: Team Votes Betting Tips

A few Brownlow betting markets have started to open up with Brownlow Team Votes one of the first markets available. We preview the leading vote getters in each AFL team and compare to the betting markets on offer to find a few tasty Brownlow bets! read more

ARTICLES

Best Australian Sports Betting Sites

The best Australian sports betting sites ensure safe and successful online betting for punters. Here's our list of the best betting options in Australia. read more


Performance Ratings & Pricing with Julian Vallance with Sportsbet

Julian Vallance from Sportsbet takes us through some of the key factors which he uses with pricing upcoming horse races such as performance ratings. Check out his video from Sportsbet here. read more


What is Over-Round and How do Sportsbooks Make Money?

Over-Round is an important concept for both punters and sportsbooks. It's how Australian sportsbooks make money! All punters should understand over-round, how to spot it, and how to find better value on the Betfair Exchange. read more


Betfair Commissions and Charges

Ever wondered why you can get such great odds at Betfair in comparison to other online bookmakers? We break down why that is the case and why Betfair isn't just for professional punters here read more


BLOGS

Palmerbet's 40 Days of Value is Here!

The weather’s getting warmer and the horse racing schedule is heating up – that means Spring is here. Palmerbet is doubling down on the best time of the year with ‘40 Days of Value’, spring-loaded with bigger odds, hot tips and other offers to make it a Spring Carnival season to remember for punters. read more


2020 AFL Brownlow Medal Votes Round 18

That's it! The 2020 AFL regular season has come to an end and Brisbane's Lachie Neale has surely done enough to secure the 2020 Brownlow Medal with another brilliant game in Round 18. Let's take a closer look at our Round 18 Brownlow Medal vote predictions! read more


2020 AFL Brownlow Medal Votes Round 17

There's just one more round to go in the 2020 AFL season. Round 17 has completed and the Brownlow votes are locked away. It was a quiet round for those at the top of our Brownlow leaderboard, but there were a couple of stand out performances this weekend. Let's take a closer look at each match with our Round 17 Brownlow vote predictions. read more


2020 Brownlow Medal Predictions & Leaderboard

2020 AFL Brownlow Medal predictions and vote tracker. Our AFL experts offer round-by-round Brownlow votes including a rolling Brownlow leaderboard and tracking for the 2020 AFL season. read more


PlayUp

BetDeluxe