What is a Lay Bet and How Do I Place One?
Introduction
A lay bet is a bet where you bet against something happening, rather than for it. Instead of backing a team to win, you’re laying them — meaning you’re betting that they won’t win.
In matched betting, lay bets are placed on a betting exchange, such as Smarkets, Betfair Exchange, or Matchbook.
In matched betting, lay bets are placed on a betting exchange, such as Smarkets, Betfair Exchange, or Matchbook.
Example:
If you lay Manchester United to win, you profit if:
1. They lose
2. Or they draw
If you lay Manchester United to win, you profit if:
1. They lose
2. Or they draw
You only lose the lay bet if they win.
This concept is vital for matched betting. When you place a back bet with a bookmaker (e.g. Man Utd to win) and a lay bet on the exchange (Man Utd not to win), you cover all possible outcomes — win, lose, or draw. This allows you to qualify for bookmaker promotions without taking real risk.
This concept is vital for matched betting. When you place a back bet with a bookmaker (e.g. Man Utd to win) and a lay bet on the exchange (Man Utd not to win), you cover all possible outcomes — win, lose, or draw. This allows you to qualify for bookmaker promotions without taking real risk.
How to Place a Lay Bet:
Choose a Betting Exchange
Oddsmart integrates with the Smarkets exchange, so you can place Lay bets automatically with them.
Search for the Event
Type the name of the match, horse race, or market into the search bar. Oddsmart automatically provides you with matched bets.
Find the Lay Odds
On the exchange, the yellow box shows the lay odds. Click it to place your lay bet automatically if you are integrated with Smarkets. Otherwise you will need to place the bet manually.
Enter Your Stake
This is the amount you’re willing to risk if the back bet wins. The exchange will show your liability — the amount you’ll lose if your lay bet fails.
Confirm the Bet
Double-check the odds, stake, and liability before clicking Place Bet.
At Oddsmart, we show you the exact lay stake and odds to use so you always cover every outcome and lock in profit.
With practice, placing lay bets becomes second nature.
We provide our members with customer support by email, and we also have these useful resources:
With practice, placing lay bets becomes second nature.
We provide our members with customer support by email, and we also have these useful resources:
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