In the traditional sense when a man made a bet with a bookmaker, it was to back someone, or something, to win an event. But with the advent of the Betting Exchanges, more and more people are starting to lay bets instead of back them.
So what is laying a bet with your Unibet bonus?
In a nutshell, when you lay a particular outcome you are betting that the win will not happen.
Barcelona are playing Real Madrid in the Spanish Cup final. You are positive that Barcelona will not lose, but you aren’t that sure that they won’t draw. By laying Real Madrid you are betting that they will not win the match. This means that if Barcelona win, or draw, you win your bet. If Madrid win then you lose your bet.
The only place to lay a bet is either on the Betting Exchanges or with someone you know who is willing to take the bet. It’s attractive on one hand because from a probability point of view, you are more likely to win. Take a nine-runner horse race for example. It has a clear favourite, but you decide to lay it. This means you have effectively backed every other horse to win. You have eight horses and someone else has backed the favourite. If you win you only get even money on your stake, but losing could become quite costly, especially if the odds offered are on the heavy side. For example, if you were to lay a 3 to 1 favourite at £100 and it won then you would lose £300 and not the £100 you originally staked.
In the business, this is known as your liability.