Lay in betting terms defined

Essentially, you can dicate what price you want to back, or lay, any given outcome at. In many markets there will be significantly more fluctuation in terms of the price available on a betting exchange, as different, independent parties take a viewpoint on how the event is going to unfold. On a betting exchange, customers can take on the role of bookmaker, by setting their own odds on a sporting event and accepting bets, or the punter, by placing bets using the odds offered by other exchange users.

With exchange betting, it is the customers, not the traditional bookmakers, that set the market by offering their own take on the prices of each outcome. A betting exchange merlely facilitates its users in placing and accepting the wide variety of bets on both winning and losing outcomes backing or laying. The betting exchange will typically charge a nominal commission on bets placed.

This may involve back and lay betting. In order to achieve this, the punter could use a back and lay calculator in order to figure the exact margins they are working to. Back lay betting requires an in-depth knowledge of betting exchanges and in-play betting but can prove to be profitable over time if done correctly.

As you might know, picking the winner in a race is no easy task! Often, if the race favorite is a short price, it is more profitable if you back this horse to lose and it does lose than if you back it to win. Therefore, you can lay them. You are effectively placing a bet that Liverpool will not win the match. In this instance, you will win your bet if Manchester United win the match or the match ends in a draw.

This is a lay bet example in a popular football betting market. It is vital for you to establish a thorough understanding of lay betting before getting involved. In a nutshell, a lay bet is when you back an event NOT to happen.

It can be a horse not to win a race, a team not to win a football match or even an athlete not to win a certain event. Essentially, the punter becomes the bookmaker in a bid to cover a favourite losing. As with all wagers, the odds-on lay bets varies depending on a number of factors. If you want to lay a favourite in a five-runner horse race, you may get decent odds — essentially this means that as long as one of the other runners wins, your bet is a winner.

Yes — that is exactly what lay betting is. The main objective of a lay bet is to take the favourite on. Australian Open: First of four women's and men's Grand Slam tennis tournaments that are played over two weeks in mid-January. If Baltimore is up , as a point favorite, Cleveland bettors earn a backdoor cover if the Browns score a late touchdown to make the final score in favor of the Ravens.

Bad Beat: Players experience a bad beat when a wager is on the verge of winning but then becomes a losing ticket. A bad beat will often occur when points are scored late in a match. Players who bet on game totals, point spreads and money lines will experience a bad beat from time to time. Bankroll: Money set aside, or deposited into an account, that is used for betting. Bankroll Management: Much like managing a personal bank account, bettors should practice proper bankroll management.

Setting wagering limits, shopping for the best odds value, plus only wagering what one can afford to lose, are keys to properly managing a sports betting budget. Beard: A bet runner who places wagers for professional bettors so they can conceal their identity from bookmakers.

Belmont Stakes: Third jewel in the Triple Crown of thoroughbred racing. Bet: Any wager involving money wagered at a sportsbook, casino, racebook or poker room. An exchange posts bets with two sides and the betting option remains listed until both sides are bet on. Betting exchanges profit by taking a small commission juice from winning tickets.

Betting strategy: Various plans that bettors use to get a leg-up on bookmakers. Primary betting strategies should include proper bankroll management and performing extensive research prior to placing wagers. Book: Short for a bookmaker or sportsbook that posts odds and accepts bets. Bookie: Short for a bookmaker. Bookmaker: A licensed individual who sets daily betting odds and accepts bets. Also known as a linemaker. The series is run at a variety of race tracks.

Buy points : Bettors can buy points, using alternate point spreads and game totals, to gain a more favorable line. Juice attached to the odds increases with each point purchased. Chalk: Another term for favorite. Los Angeles is the chalk side if the Lakers are a -3 point favorite over the Houston Rockets. Chalk bettor: A player that bets on favorites with the majority of their wagers Circled game: Matches that have set betting maximums, which are capped at low amounts.

Games are usually circled when bookmakers face unknowns such as player injuries, weather or rumors that surface prior to a match. Opening odds and prop options are often circled as well. Closing line: The final betting odds posted prior to the start of a competition. Co-favorite: Two or more sides with identical odds to win.

Common with futures odds, bookmakers may post co-favorites to win the NBA Finals championship. Combine: A series of fitness tests that help scouts from professional teams evaluate amateur athletes. Commission: Another term for vigorish and juice, commission is the bookmakers take on any bet. It is also the amount a betting exchange takes from winning wagers.

Correct score: Bettors are offered a list of possible final scores on a match. In soccer, players can bet on a match ending as low as or as high as plus all scores in between. The most likely result is the favorite and the least likely result is the underdog. New England winning over Miami means the Patriots would cover a point spread. Dog: Short for underdog, a dog is perceived as the least likely side to win and is tagged with plus pricing.

Bettors often double their bet when they feel one side is vastly superior to another. Double result: A single betting option that combines the score of a game at halftime and the score at the end of the same game. Double-header: Two games that are played back-to-back on the same day. Most common in baseball, a double-header will often take place if a game from the previous day was rained out. Draw: Any contest where the final score ends in a tie.

In most instances, a draw is graded as a PUSH and original bet amounts are returned. Drift: Betting odds that grow longer after the opening line is posted. E Each-way: Common in horse racing, each-way betting takes a single amount and splits it on a horse to finish first or second.

Both bets pay if the horse finishes first while just one bet pays if the horse finishes second. The return on a first place win is always higher than the return on a second place win. Edge: Gaining an advantage through extensive research or having insights that are not publicly known. Even money: Odds that return the exact amount of the original bet. Exotic Bet: Betting options beyond point spreads, moneylines and game totals. Proposition bets, specials and parlays are the most common types of exotic bets.

Exposure: Amount of money a bettor or bookmaker stands to lose on any given wager. F Favorite: Any side priced with a negative number. Two Final Four games are played prior to the National Championship game. First half bet: A wager that focused on the result of the first half in sports like basketball, soccer and football.

The most popular first half betting odds are spread, moneyline and game total options. A variety of team and player props are also offered as first half bets. Fixed odds : When a wager is placed, and a bookmaker accepts it, the line becomes fixed odds. Also a term for moneyline odds. French Open: Second of four women's and men's Grand Slam tennis tournaments that are played over two weeks in late May and early June.

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They will be betting on a favorite to win the game, despite not understanding how many points they have to lay in order to actually win their bet. Remember, good teams win, great teams cover. If you are a fan of the team you are going to lay the points with, I would advise you to look elsewhere first.

Reading the point spread can be tricky for starters which is why I am going to explain it as simply as I can. When you look at the list, you will see two teams. Any time you see a minus sign -3 beside their name, that home team is the favorite, which means they are laying points against their opponent. Just as a point of reference, typically spreads have half-points associated with them, meaning lines will be This is to ensure their will be a for-sure winner against the spread.

If the number is whole, like -3 or -6 and the score ends with a differential of that number, it is deemed a push. Beard: Someone who places a wager for another person aka "runner". Book: Short for sportsbook or bookmaker; person or establishment that takes bets from customers. Bookie: A person who accepts bets illegally and charges vig.

Buying points: Some bookies or sportsbooks will allow customers to alter the set line and then adjust odds. For example, a bettor might decide he wants to have his team as a 3-point underdog instead of the set line of 2. He has then "bought" half a point, and the odds of his bet will be changed. Chalk: The favorite in the game. People said to be "chalk" bettors typically bet the favorite. Closing line: The final line before the game or event begins.

Consensus pick: Derived from data accumulated from a variety of sportsbooks in PickCenter. The pick, and its percentage, provides insight as to what side the public is taking in a game. Cover: The betting result on a point-spread wager. For a favorite to cover, it has to win by more than the spread; an underdog covers by winning outright or losing by less than the spread. Edge: An advantage. Sports bettors might feel they have an edge on a book if they think its lines aren't accurate. Even money: Odds that are considered Exotic: Any wager other than a straight bet or parlay; can also be called a "prop" or "proposition wager.

Depending on the sport, the favorite will lay either odds or points. For example, in a football game, if a team is a 2. Fixed: A participant in a particular game who alters the result of that game or match to a completely or partially predetermined result. The participant did not play honestly or fairly because of an undue outside influence. Futures bet: A long-term wager that typically relates to a team's season-long success.

Common futures bets include betting a team to win a championship at the outset of a season, or betting whether the team will win or lose more games than a set line at the start of the season. Halftime bet: A bet made after the first half ended and before the second half begins football and basketball primarily. Handicapper: A person trying to predict the winners of an event.

Handle: The amount of money taken by a book on an event or the total amount of money wagered. Hedging: Betting the opposing side of your original bet, to either ensure some profit or minimize potential loss. This is typically done with futures bets, but can also be done on individual games with halftime bets or in-game wagering. High roller: A high-stakes gambler. Hook: A half-point. Juice: The commission the bookie or bookmaker takes. Standard is 10 percent. Limit: The maximum bet taken by a book.

Lock: A guaranteed win in the eyes of the person who made the wager. Middle: When a line moves, a bettor can try to "middle" a wager and win both sides with minimal risk. Suppose a bettor bets one team as a 2. She can then bet the opposite team at 3. She would then win both sides of the bet.

Money line noun , money-line modifier : A bet in which your team only needs to win.

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If by chance the Patriots happen to cover the spread, they would profit large from all the action they took at their own facility, which would cover their own lost bet. How to Spot the Layoff Spots Make no mistakes about it. Layoff spots are nearly impossible to spot. The sportsbook will always have the upper hand in terms of sports betting, so they must never act like they are in a vulnerable position to the betting public.

A line that books are scared of is a line that bettors should be aware of and take advantage of, but that information is not made public and is very rarely figured out. What to do When You Find a Layoff Spot If you happen to be at the right place at the right time and are lucky enough to stumble across this lucky word, I would advise you to double or triple check the source and figure out why this L word is being thrown around.

Most games have balanced action which is why the sportsbooks never go broke. If you come across a game where one side is getting all of the play, you may want to take a step back and decide if you want to be part of the public slaughter that usually always happens. There is a saying amongst bettors which states: good teams win, but great teams cover.

The general public is prone to making the same mistake time and time again. They will be betting on a favorite to win the game, despite not understanding how many points they have to lay in order to actually win their bet. Remember, good teams win, great teams cover. If you are a fan of the team you are going to lay the points with, I would advise you to look elsewhere first.

Reading the point spread can be tricky for starters which is why I am going to explain it as simply as I can. When you look at the list, you will see two teams. Any time you see a minus sign -3 beside their name, that home team is the favorite, which means they are laying points against their opponent. Just as a point of reference, typically spreads have half-points associated with them, meaning lines will be