How to Place Lay Bets
How to Place Lay Bets
Previously we have covered how you can place a back bet. Now let’s see how you can lay a bet. To understand the relationship between the two, think of it this way. For every back bet placed, there is always someone on the other side laying it. If a bettor believes that an event will happen and they back it, there will be someone else believing that this event will not happen and they will lay the bet. Then this bet is matched.
If I back a bet, then I put my money on an event to happen. Let’s take the same example with the Paris St Germain vs Real Madrid game. If I back PSG, then I put my money on PSG to win. If I were to lay PSG, then this would mean that I would put my money on PSG not to win. If PSG won, then I would lose my money. If the outcome was Draw or Real Madrid won, then I would win.
As we can easily understand, when laying, two or more outcomes are playing in my favor. In horse racing, for instance, if I lay a horse, I will win if any other horse in the race comes first. If the horse I bet on wins, then I lose my money.
How do i “lay” a bet?
Well, if you decide to be a “layer” on the Orbit Exchange platform, then what you need to look for is only the red columns.
Let’s take a soccer event. Paris St Germain vs Real Madrid.
You believe that PSG will not win this game and you decide that this is the team you want to lay. What you need to do? Let’s see your options. You have 6 columns in total, half in blue and half in pink. As we said, if you want to lay, then look only at the pink columns. Now, how to decide which one is the column you want? Well, it’s very simple, it is the classic 1×2. The first 2 columns are for backing and laying Team 1 (PSG) the 2 columns in the middle are for backing and laying the Draw and the last 2 columns are for backing and laying Team 2 (Real Madrid).
Therefore to lay PSG you just need to click on the pink box of the second column on the left.
Next to the button cancel, you see the odds offered by the backers of this bet. If you
agree with the price 2.08 of the odds, you are ready to place your stake right on the next box. Choose your stake and then click on the “Place bet” button.
If you do not fully agree with the odds offered by the backers (the price 2.08), you can always modify it and request from the backers a better one. For example, you propose 2.18 rather than 2.08 You modify the odds accordingly, you choose your stake and you press the “Place bet” button and you wait for a backer to match your bet at this bigger price.
When you type your stake, you will be able to see your Liability for placing this bet. This represents the amount you risk to lose. Therefore, be careful when placing your stake and always make sure the decimal odds are placed correctly.
When you click on the “Place bet” button and submit your bet offer, then your bet will be returned as matched, unmatched or partially matched. Orbit Exchange is famous for the high liquidity, and bets on markets with high liquidity usually return as matched most of the time. In any case, always make sure you check your betslip to confirm the status of your bets.
The exact same procedure applies if you want to lay the Draw or if you want to lay Real Madrid. To lay the Draw, just click on the second red box and follow the steps we talked about above. To lay Real Madrid, click on the red box on the last red column on the right and follow the same steps as above.