"Laying" a bet

[valleys07]

Hey punters,

As a novice im trying to understand the benefit of "laying" a bet. I think i understand how it works mathematically but can't understand the benefit to a punter....or maybe im completely misunderstanding it!

In other words, what betting scenarios are best to use a "lay bet" and how can it be used to your advantage?

Any help would be appreciated.

Cheers.

[mighty_tiger_79]

go to betfair!

u can lay a selection to lock in a profit.

basically you become the bookie

[valleys07]

Ive had a look at betfair and found the option to lay a bet.

What im more so after is what situations should i be looking to lay bets, ie. AFL.....if two teams are locked at $1.91 each or if there is a raging favourite?

[mighty_tiger_79]

it all depends on what you wish your liability to be.

i would keep all your options open.

with BETFAIR, you will find you can back a team and then lay it, or the other way around and make a profit no matter what

[valleys07]

Ok no worries.

Thanks for that MT.

[G]

There's not much difference in head to head markets when laying a loser or backing the winner as the profit works out about the same.
Where the lay in Footy comes in handy is when you have taken say a 4 leg multi @ $3.50 and are alive coming into the last game and needing the $1.30 favourite to win, you can guarantee a profit or at least cover your bet by laying that team at $1.31 or whatever price is needed.

Obviously the LAY is a great option in Horse racing etc as you have the rest of the field working in your favour and likewise in a Golf tournament before they te off - Tiger might be $2.50 to win and you think hes a risk so you lay him and have the other 100 odd players working for you.

[valleys07]

Thanks for the explanation G.

[valleys07]

There's not much difference in head to head markets when laying a loser or backing the winner as the profit works out about the same.
Where the lay in Footy comes in handy is when you have taken say a 4 leg multi @ $3.50 and are alive coming into the last game and needing the $1.30 favourite to win, you can guarantee a profit or at least cover your bet by laying that team at $1.31 or whatever price is needed.

Obviously the LAY is a great option in Horse racing etc as you have the rest of the field working in your favour and likewise in a Golf tournament before they te off - Tiger might be $2.50 to win and you think hes a risk so you lay him and have the other 100 odd players working for you.

Is it correct that the backers odds have to be matched by another punter?

[Brodlach]

There's not much difference in head to head markets when laying a loser or backing the winner as the profit works out about the same.
Where the lay in Footy comes in handy is when you have taken say a 4 leg multi @ $3.50 and are alive coming into the last game and needing the $1.30 favourite to win, you can guarantee a profit or at least cover your bet by laying that team at $1.31 or whatever price is needed.

Obviously the LAY is a great option in Horse racing etc as you have the rest of the field working in your favour and likewise in a Golf tournament before they te off - Tiger might be $2.50 to win and you think hes a risk so you lay him and have the other 100 odd players working for you.

Is it correct that the backers odds have to be matched by another punter?

Yep that's right

[overloaded]

Im confused

[mal]

There's not much difference in head to head markets when laying a loser or backing the winner as the profit works out about the same.
Where the lay in Footy comes in handy is when you have taken say a 4 leg multi @ $3.50 and are alive coming into the last game and needing the $1.30 favourite to win, you can guarantee a profit or at least cover your bet by laying that team at $1.31 or whatever price is needed.

Obviously the LAY is a great option in Horse racing etc as you have the rest of the field working in your favour and likewise in a Golf tournament before they te off - Tiger might be $2.50 to win and you think hes a risk so you lay him and have the other 100 odd players working for you.

Ive waited years for you to make an intelligent post !!!