What is a Lay Bet?

A lay bet is a bet against an outcome happening. Instead of backing a team to win, you are betting that it will not win. When you lay, you take the other side of the bet, acting like the bookmaker.

This is the idea that makes matched betting work, so it is worth getting clear on.

Backing vs laying

When you place a normal bet at a bookmaker, you are backing. You pick an outcome and win if it happens.

A lay bet is the opposite. You pick an outcome and win if it does not happen. If you lay Manchester United to win, you win your lay bet if United draw or lose, and you lose it only if United win.

Where you place a lay bet

You cannot lay a bet at a normal bookmaker. You place lay bets on a betting exchange, such as Betfair, where you bet against other customers rather than against the house.

Why laying matters for matched betting

Matched betting works by backing an outcome at a bookmaker and laying the same outcome on an exchange at the same time. Whatever the result, the two bets cancel out, and you keep the value from the bookmaker's offer as profit.

That is why every guide on this site has you place a back bet and then lay it off. The lay bet is what removes the risk.

Next steps

New to all of this? Start with our complete guide to matched betting.