What does the term “Lay” mean and what is a Lay bet?

“Back” bets and the odds are always marked in blue, and ‘Lay’ bets are always marked in pink. “Back” betting is betting on an outcome To Happen while “Lay” betting allows you to play the role of the bookmaker. In a lay bet, you always stand to win the stake of the opposing bet; which is, betting on an outcome Not To Happen.

Liability is an important concept to understand when learning about laying bets. Think of yourself as the bookmaker. If you lose your bet, the bookmaker keeps your stake. If you win, then the bookmaker has to pay out your winnings. It can be a lot more than your original stake. This is the same as laying a bet. If the selection does win, you have to pay out the winnings. That potential payout is known as your liability. This is how much you need to pay out if you lose your lay bet.

Placing a Lay Bet 

Select a market, choose a selection you want to lay and click on the best lay price/odds.

In the following example, you are laying a team at odds of 2.42, the backer is staking ৳100. Your liability of ৳142 is taken from your balance as this is your worst case scenario. 

Your potential profit: ৳100
Your potential loss: ৳142

In this example, if the team wins the tournament, the total payout will be ৳242. You have to pay ৳142 to the winning customer, as the backer’s original stake is returned to them. If the team loses the tournament, you win ৳100 minus commission from the betting exchange.

Note: JeetBuzz charges a commission fee on net winnings on each market.

For more information, check out the video below!

97372cookie-checkWhat does the term “Lay” mean and what is a Lay bet?