Lay betting is an advanced technique in betting where you act as the bookmaker and bet against an outcome. By providing odds for others to back, you can profit from incorrect predictions.
Table 1: Key Concepts in Lay Betting
| Term | Definition |
|---|---|
| Back | Placing a bet on an outcome to happen |
| Lay | Placing a bet against an outcome to not happen |
| Odds | The probability of an event occurring, expressed as a ratio |
Story 1: Laying a Favorite
* Benefit: Reduced risk by betting against heavily favored outcomes.
* How to: Identify favorites with inflated odds due to public bias or overconfidence.
Story 2: Laying a Longshot
* Benefit: Profit from underdogs that unexpectedly lose.
* How to: Find longshots with value betting opportunities, where their odds are higher than their true probability.
Table 2: Effective Strategies in Lay Betting
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