If you’ve ever wanted to bet against a result, like a team not winning, a Lay Bet is your go-to strategy. This guide breaks down a lay bet, how to place one, and how it fits into risk-free matched betting. Whether you’re new to betting or trying to stretch your free bets into real profits, understanding lay betting can give you an edge.
For more details and betting basics, visit:
👉 BookiesPedia Lay Betting 101
What Is a Lay Bet?
A lay bet is when you bet on something not to happen. You’re acting as the bookmaker, taking someone else’s bet. If their selection loses, you win. If their selection wins, you lose the calculated liability.
For example, you could lay a horse in a race. If that horse doesn’t win, your lay bet wins.
How Does a Lay Bet Work in Australia?
Lay betting is done through a betting exchange like Betfair Australia. Here’s how the process looks:
- You choose a selection (e.g., a horse or a football team).
- You click the ‘lay’ option (usually marked in pink).
- You offer a stake, and the betting exchange finds a backer.
- If the selection loses, you keep their stake (minus commission).
- If the selection wins, you pay the liability.
Lay Bet Liability Formula:
Stake × (Lay Odds − 1) = Liability
Example in AUD:
Description | Value |
Lay Odds | 1.08 |
Stake (AUD) | $100 |
Liability (AUD) | $100 × (1.08 – 1) = $8 |
If Selection Wins | You lose $8 |
If Selection Loses | You win $100 (minus fees) |
How to Place a Lay Bet on Betfair Australia
Here’s a quick step-by-step guide:
- Go to Betfair.com.au and pick your sport or market.
- Click the pink “Lay” button beside your chosen team or horse.
- Enter your stake – this is the amount others can win from you.
- Check your liability – it auto-calculates.
- Place your lay bet – and wait for it to be matched.
Note: You only lose the liability if your lay bet fails.
Lay Bets in Matched Betting (Risk-Free Strategy)
Lay betting becomes especially powerful when paired with matched betting. This is where you:
- Use a bookmaker’s free bet
- Lay the same selection on an exchange.
- Guarantee a profit or break-even outcome.
Australian tools like OddsMonkey or Betfair’s own interface help you:
- Find closely matched odds
- Auto-place lay bets
- View profit “what if” scenarioss
Want to get started?
Visit the complete beginner’s section at BookiesPedia Lay Betting 101
Benefits of Lay Betting for Australian Bettors
- ✅ Bet against poor-value favourites
- ✅ Minimise risk in matched betting
- ✅ Maximise free bet conversions
- ✅ Simple with Betfair’s exchange interface
- ✅ Transparent odds and liability control
FAQs: Lay Bet – People Also Ask
A lay bet means you’re betting on something not to win. You profit if it loses.
You can place lay bets through Betfair Australia, the most popular exchange.
Use this formula:
Stake × (Lay Odds − 1) = Liability
It’s legal for Australian residents aged 18+ to use licensed exchanges like Betfair.
It stays open on the market until someone matches it or you cancel it.
Yes, your liability is at risk if the selection you lay wins.
Pair it with matched betting to make low-risk or risk-free profits using bookmaker promotions.
Final Thoughts on Lay Betting in Australia
Whether chasing more innovative betting options or looking to turn free bets into cash, lay betting is a tool every Aussie punter should know. It flips traditional betting on its head—letting you profit when a favourite slips or when you hedge a free bet.
Used wisely, especially with tools like OddsMatcher and Betfair integration, lay betting can bring consistent returns with reduced risk.
Ready to explore lay betting further?
Check out: BookiesPedia Lay Betting Guide
