The possibility to bet against something, or simply the Lay bets, is the key to allow us to trade sports bets. Without Lay bets, there will not be trading.
This type of bets are only available in bet exchanges such as Betfair (the largest one). Lay bets are not available in traditional bookmakers.
- What is a Lay bet?
- What is the liability?
In a Lay bet, the liability is not easily seen because the value we input when placing the Lay bet is not what we are risking. It is actually what we want to win.