Placing a lay bet
03 Lay betting 
/ Betfair Education / 22 January 2008 / Leave a comment
Select the market as outlined in placing a bet.
Then click on the lay side, in the following example you are laying Phil Mickelson at odds of 9.0. The backer is staking £10.
Your liability of £80 is taken from your balance as this is your worst case scenario. The payout will be £90 but that includes the stake from the backer. If this bet was matched, there would effectively be a pot of £90 for someone to collect - the backer's £10 stake, and the layer's £80 liability
If Phil Mickelson wins the tournament you have to pay £80 to the winning customer. If any other player wins the tournament you win £10 less commission. When laying a bet, you can only win the other person's stake.
In the example outlined above you will notice that the market is not completely formed. There aren't many offers on the screen and there is a gap between the best prices to back and lay Phil Mickelson. In this instance if you don't want to lay the selection at 9.0 you could make an offer in between 6.0 and 9.0. This is explained in asking for a price in the previous article. Your offer would then appear in the back column waiting for someone who may think your offer is value and will back the selection.
