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Betfair lay oddsHorse racing master > Betfair > Betfair lay >Betfair lay odds
The Betfair lay odds is one of the most crucial aspects that needs to be taken into consideration if you want to use lay betting as a form to increase your earnings. Many beginners have the wrong misconception that laying is a very easy thing to do, but it is not entirely like that. But first, let’s talk about the basic notion here, which is odds betting. For those of you who don’t already know it, this is the simplest form of betting in the world. You make a bet that a certain event will happen, after which you wait and anxiously see if it turns out like that or not. The probability that the respective outcome will happen is based on the odds. The lower the odds are, the greater the chance that the event will happen is. The event which has the lowest odds is the “favorite”. But this is only one way betting. And here is where Betfair lay betting comes into place. With this feature, you can also bet that a certain event will NOT happen, which is exactly the opposite. You are allowed both to take and to offer odds. If you take the odds, you back the outcome, whereas if you offer odds, you lay the outcome. As a note, remember that Betfair uses decimal odds.
Basically, laying a certain event is exactly the opposite of backing it. This is the way in which the traditional bookmakers make their fortunes. So practically, you play the role of the bookmaker. As an example, let’s suppose you like soccer and you lay Portsmouth in its English Premier League match against Liverpool. Your stakes is a £50 amount, and you offer 2/1 traditional odds against it. If Portsmouth indeed loses or the game ends as a tie, your total profit is £50 (the amount you risked). However, if Portsmouth wins, you lose £100. As it was previously said, Betfair uses decimal odds. They differ from the traditional UK odds in the sense that they include the amount of money which is at stake as part of your total return. Let’s say you make a bet of £5 and the decimal odds are 3.0 and win. In this case, your total return is £15. Traditionally, this would be considered as 2/1. This would return winnings of £10 as well as the original stake of £5. Decimal odds are in fact easier to use, and they are much more common outside the UK.
This particularity as well as all the other well thought options make Betfair the most serious option for online betting enthusiasts. For those who are just beginning to grasp its potential, especially in the form of lay betting, don’t forget one simple thing: always carefully examine the Betfair lay odds in order to minimize your eventual losses.
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