What is a Lay Bet?

lay bet

One of the easiest ways to describe a lay bet is by taking a game of football as an example. A football can end with three different results. For example, the home team or the away team can win the match, otherwise the result of the game might be a draw. When you make a traditional bet, you will normally choose one of these outcomes. Let us consider the Portuguese Primera Liga and take two of its most famous teams, Benfica and Porto as an example. You could make a traditional bet and decide Benfica are going to beat Porto. With a lay bet being the opposite then you would bet against Porto not to win.

Assuming Benfica are playing at home the traditional bet may choose them to win the game, therefore you are betting for a home win. Should Benfica go on to win the match then you will win the bet. Your bet will be lost if Porto win or the game ends in a draw.

If we take the same example as a lay bet, then picking a home win will mean you lay Porto. In this instance you will win the bet if Benfica win the game. However, you will also win if the game ends in a draw with the bet being lost if Porto win the match.

Making the lay bet creates a greater chance of winning the bet. As Porto has been chosen not to win the game you will win the bet if Benfica wins the match or the game ends in a draw. Therefore, you are effectively placed in the shoes of the bookmaker when the bet is made. Instead of having one chance to win your bet, the game offers two chances of winning.

Using lay bets can be even more advantageous when betting on sports that provide increased possibilities. For example, horse racing events are great for lay bets as the races often have several runners. Under the traditional betting methods, you would bet on a horse to win or finish placed on an each-way bet. However, when you place a lay bet on a horse, any horse in the field can win the bet, excluding the horse that you lay.

In practice, it is often much easier to select a loser, rather than choosing a winner and a lay bet can increase your chances of winning. There are also opportunities to get better value odds and even cash out anytime.

When you place lay bets with Galera it can be possible to cash out of your lay bet anytime. You may be watching a horse race that you have an interest in and see the horse you have placed a lay bet on winning the race. Therefore, you can have the opportunity to cash out of the bet during the race and that can help to reduce your losses. During the race, the odds against your chosen horse will probably come in and if you cash out, your loss will be less than if you simply continue to watch the race as the horse runs home to a victory.

There is even an opportunity to cash out prior to the race starting. You might see the odds of your chosen horse drifting out against the horse and you can then consider cashing out for a profit without the race beginning. Cashing out before the race starts requires good knowledge, research and the ability to predict, and it can ultimately either win or lose you money prior to the race starting.

We hope you have a better understanding of laying a bet and will enjoy the alternative method of betting against something to win.