What are lay bets and why can't you do them with traditional bookmakers?

[SwehRose]

So I heard about this “lay betting” thing and I’m confused. Apparently, you can bet against something happening? Like instead of betting that a team will win, you bet that they won’t? Sounds wild. A friend told me that only betting exchanges offer that, but I don’t really get why bookmakers don’t. Is it more risky for them or something?

[Collins33]

Yeah that’s exactly it. With lay bets, you’re acting like the bookmaker yourself — saying “this won’t happen.” Only exchanges offer this because they match you with someone else who's betting for that outcome. Bookies can’t really offer lay bets because their whole model depends on being the house. If you want to wrap your head around how it works, https://sportsdigest.in/betting-exchange-vs-traditional-bookmaker/146750/ breaks it down pretty well. I use lay bets a lot when I want to hedge or do matched betting. It’s a cool tool once you get the hang of it.

[Miller.G]

I’ve heard about lay bets but never actually tried them. Sounds like it needs a bit of strategy. I usually just stick to picking winners and hoping for the best 😅