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please help me understand what 'lay' means in betting

im putting on a bet that portsmouth WONT win the carling cup, the odds are 25/1. if i put a stake of 2 pounds in i have a libaility fee of 50 pounds and a payout of 52 pounds.
does this mean i win 52 pounds with a 2 pound stake if portsmouth dont win?
i dont understand
Reply 1
Avatar for M_E_X
M_E_X
14
bored123bored
im putting on a bet that portsmouth WONT win the carling cup, the odds are 25/1. if i put a stake of 2 pounds in i have a libaility fee of 50 pounds and a payout of 52 pounds.
does this mean i win 52 pounds with a 2 pound stake if portsmouth dont win?
i dont understand

You are acting as the bookie. You take someones stake, at the odds which you offer it. If they lose, you keep their money. If they win, you have to pay them out at the odds you offered them the stake (plus their stake back).

So in your example,
If Portsmouth win you lose £50, the other person wins £50 from you and gets their £2 stake back.
If Portsmouth don't win, you keep their £2.

You don't win £50, no - you only keep their stake.
Reply 2
Avatar for Fusion
Fusion
20
laying at 25/1 is the same as backing at 1/25 for winnings which your wrong about

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