There are a lot of concepts and terms that are available in the world of w888ok. One such term is lay betting. This is an option in the field which allows the player to take the same position as a traditional bookmaker. This is done by offering odds. Let us learn more about the concept and how to place a lay bet and what lay betting is for a w888ok platform.
What is lay betting on a w888ok
Lay betting is usually the opposite of a back bet. In a back bet, you back the outcome which you think will win whereas in the lay betting you lay the outcome which you believe will lose. If you are placing a lay bet then you are playing the role of a bookmaker which offers a counterparty offs on the result of a particular game. If the result comes true then you have to pay them. If the result does not happen then the better gets the backer’s stake.
An example of lay betting is that when you believe that the odds on a player such as Nobak Djokovic are about to win in the French Open is far too short and has a very meager value, but you are not sure that who will win the game. Then you can make a lay bet on the player. By doing this you will be backing any other player in the game to win the tournament. This is easier rather than choosing a particular winner.
What is the liability on a lay bet –
If you are backing your outcome then the liability is same as your stake i.e. the amount that you bet. The liability of the lay bet depends upon the odds. If you want to lay the on a horse at 3.4 then to win an amount of 10 euro your liability must be around 24 euro. If the horse on which you have placed lay bet wins the game then you lose 24 euro else you win 10 euro.
How to place lay bet –
To place the bet you must select the odds in the game on a player. If you place a lay bet on the game on a particular player then if the player loses then you get paid else you lose your liability. You can select your own odds also in the lay odd betting.
