Lay betting is a risky but highly challenging game. The people who play this game can lose or win large sums of money in a split second. Have you ever tried to think of how to increase your odds of winning, or decrease your losing stake? The most important thing to reduce risk in this game is to have a good understanding of the features of this type of betting.
Today Happyluke will clarify how the game of lay betting is. Happyluke is a leader in online sports betting and online casinos in Thailand. Happyluke offers football odds for players to book according to different formats.
What is a Lay Bet?
Simply, a lay bet is a prediction that something will not happen.
For example, if there is a football match between Arsenal and Manchester United. You are a fan of Arsenal football club and you bet on your idols. In the traditional way of betting, you would bet Arsenal win. According to the lay betting method, you bet Manchester United will not win.
These two expressions may sound the same at first, but pay attention to their nature, you will find the difference. If you place the bet for the win of Arsenal, once this team wins, you win the bet. When you bet Manchester United not to win, when this team loses or draws the match with the opponent, you win the bet.
In football, lay betting is a method that gives you more options. In horse racing, it will make your decision easier. In a horse race, choosing the horse to win is quite difficult. However, picking a horse that did not win seems much easier. That is the advantage of lay betting.
In this way, lay betting helps you to get an easier choice of bet as well as increasing your odds of winning.
How Do I Place a Lay Bet?
There are many ways to place bets in general and to place lay betting in particular.
You go to the betting shop, choose the individual or team you want to bet on, and the amount of money. The bookmaker will record your bets. After that, your work is to wait for the match result. Live betting requires wagering and withdrawal transactions to be made directly. This will take you a little time.
Online betting through betting websites
This is the most popular form of betting today. The method is similar to betting live. However, the transaction will take place online. You deposit money in the account on the website or through the bank account to play. If you win, you can withdraw your money back to your account.
This is a form of betting online. The difference is that for live betting, you play against the bookmaker. As for the betting exchange, you will bet with other players. On the betting exchange, each player can become the bookmaker and set their own odds. However, the risk ratio will also be higher.
Placing the Lay Bet – An example
Take a few examples of place lay betting on horse racing to see the gains and losses for these types of bets.
For example, you bet on horse number 15 will not win. You bet with odds of 3.00, the backer’s stake is £10. So your liability is £20. If another horse wins the match, you win the bet. The amount you receive will be equal to the number of backers’ shares, £10. If the 15th horse wins, you pay for your loss. As mentioned before, it is your liability, £20. So in this bet, the odds of winning and losing money is 1:2.
Let’s take another example similar to the above one. This time you choose to bet at 27.00 odd, the backer stake is still £10, your liability in case of loss is £260. As analyzed above, if you win the bet, you will get a reward equal to the backer’s stake, which in this case is still £10. With the higher odds, however, if you lose, you will have to pay off a debt of £260. In this example, the odds of your win and loss of money is 1:26.
Through these two examples, it is easy to see that betting odds have a huge effect on how much you win or lose. In the first case, the £20 loss might not be too much compared to the £10 you received when you won. However, in the second case, you really have to consider carefully whether the chance of earning just £10 when you win is worth the risk of losing £260 when you lose. With lay betting online games, the boundary between a win and a loss is sometimes just one click away.
Is Lay Betting Worth the Risk?
Is lay betting worth taking risks? This is a very difficult question to answer. Because it depends on the individual player.
First of all, you must understand what you will gain and lose when you join this game. Here, people call it a liability.
In a betting game, there are usually 2 possibilities: you win or lose. If you win, you will receive your bet winnings. So, if you lose, you will have to pay your stake to the bookmaker, this potential payout is called liability.
It is worth mentioning is not how much you bet, you will win or lose an accurate amount of money. Depending on the odds of each bookmaker or betting site, the amount you bet, and the total number of players, your winnings or losses are likely to fluctuate.
So, whether a game is worth trying is considering your liability is high or not. If the liability after losing the bet is too large, far beyond the amount you would have earned if you won, then you probably should not be reckless.
Wrap it up
To conclude, choose to play or not, choose safety or recklessness, it is your personal decision. However, be very calm and consider carefully before making any choices. After all, lay betting is just a game. You can lose, but cannot defy everything to play, you can not place a lay bet if you clearly see the possibility of losing. Besides, be wise to find yourself a safe and reliable bookmaker.