Horse racing journalist and handicapper who covered the Kentucky Derby, Preakness, Belmont and Breeders’ Cup for the Las Vegas Review-Journal.
HORSE BETTING GUIDE · BET TYPES
Reviewed by the Horse.bet Team
What is lay betting in horse racing? — explained: Lay betting is essentially a bet against a given outcome available in horse racing.
Lay betting is essentially a bet against a given outcome available in horse racing. Think of it as "shorting" on the stock market, but in a betting context.
It is common in the U.K. and Europe but generally available in the U.S. only in New Jersey on Betfair’s exchange wagering system, as far as I know.
Here’s how it works: If you think the public is overestimating the chances of a 7-5 favorite to win, you can offer the horse at 8-5 on the exchange. If your offer is accepted by another player, you are essentially acting as the “house” and determining how much action you’re willing to accept.
In the end, if the horse does win the race, the wagering platform will pay the horse’s backers out of your account. If it doesn’t, you collect whatever the other players wagered, minus the betting platform’s “takeout.” Read more about horse betting betting strategies and check out these U.S. online horse wagering sites to learn more.
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Significant terms
Available to new customers only. Make a qualifying deposit of £5* or more and claim the offer within 30 days of registering your account to qualify for 300% of that amount in Bet Credits, up to a maximum of £30* in Bet Credits. Once released, your Bet Credits will be held in your account balance and are non-withdrawable. To release your Bet Credits for use, you must place qualifying bets to the value of your qualifying deposit (capped at £10*) and they must settle within 30 days of claiming the offer. Only qualifying bets placed and settled after claiming the offer will count towards this requirement. PayPal, paysafecard and all other prepaid credit and debit cards, where available, cannot be used for either your qualifying deposit or any subsequent withdrawal of returns from Bet Credits stakes unless we have successfully verified an accepted form of your Identity Documents and you have entered a Postal Verification Code (PVC), or we have successfully verified two accepted forms of your Identity Documents. See condition 2 of full Terms and Conditions for details. Bets placed must meet certain conditions to count towards the release of your Bet Credits: Must contain at least one selection at odds of 1/5 (1.20) or greater. Only the largest cumulative stake on an individual selection within a market/fixture combination (either pre-match or In-Play) will count towards the settled bets requirement. Cashed Out, Instant Games, Gaming, Free Bets, void bets, In-Play bets which are settled as a push or Fantasy Sports entries will not count. Your Bet Credits are non-withdrawable, and Bet Credits stakes are not included in any returns. Any returns from Bet Credits placed will be added to your Withdrawable Balance. Bet Credits cannot be used on certain products, offers/promotions and bet types. See full Terms and Conditions for details. Your Bet Credits will expire 7 days after they are added to your Bet Credits balance.
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