What is Lay Betting?
Lay betting is simply betting that something won’t happen. In horse racing, laying a horse is picking a horse to lose a race.
Unlike traditional betting where you back a horse to win, laying a horse means that you assume the role of a bookmaker – if the horse loses you win, but if the horse wins you pay out.
If the horse you have layed loses then you will get the backers stake. However, if the horse you have layed wins, then – exactly like a bookmaker – you will have to pay out the backers stake multiplied by the odds.
Lets use an example. You lay a 5/1 horse called Mighty Flight for a £10 stake:
If Mighty Flight loses the race, you win the backers stake which is £10.
If Mightly Flight wins the race, you pay out £10 multiplied by 5/1 which is £50.