“Back” bets and the odds are consistently denoted in blue, while “Lay” bets are consistently indicated in pink. When you engage in “Back” betting, you are wagering on an outcome to occur. On the other hand, “Lay” betting indicates that you should assume the role of the bookmaker. In a lay bet, your potential winnings are equivalent to the stake of the opposing bet, which is, betting on an outcome Not To Happen.

Understanding liability is crucial when learning about lay betting. Picture yourself in the role of a bookmaker. If you lose your bet, the bookmaker keeps your stake. If you win, then the bookmaker has to pay out your winnings. It can be a lot more than your original stake. This is the same as laying a bet. If the selection does win, you have to pay out the winnings. That potential payout is known as your liability. This is how much you need to pay out if you lose your lay bet.

Placing a Lay Bet 

Select a market, choose a selection you want to lay, and click on the best lay price/odds.

In the following example, you are laying a team at odds of 2.36, and the backer is staking 100. Your liability of 136 is taken from your balance, as this is your worst-case scenario. 

Your potential profit: 100

Your potential loss: 136

In this example, if the team wins the tournament, the total payout will be 236. You have to pay 136 to the winning customer, as the backer’s original stake is returned to them. If the team loses the tournament, you win 100 minus commission from the betting exchange.

Note: KV8 charges a commission fee on net winnings on each market.