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Bet Types

Lay Bet

A bet against an outcome occurring, effectively taking the role of the bookmaker. Only available on betting exchanges like Betfair. When you lay a bet, you are offering odds to other bettors. If the outcome occurs, you pay the backer's profit. If it does not occur, you keep the backer's stake.

Related Bet Types Terms

Prop Bet (Props)
A bet on a specific event or occurrence within a game that may not directly relate to the final outcome. Examples include first player to score, total passing yards by a quarterback, or number of corners in a football match. Prop bets can be player-based or game-based and are increasingly popular.
Parlay (Multi)
A single bet that links two or more individual wagers together, requiring all selections to win for the bet to pay out. Also known as an accumulator (acca) in the UK or a multi in Australia. The combined odds are the product of each individual selection's odds, creating high potential returns but lower overall probability.
Futures
A bet placed on the outcome of an event in the future, such as which team will win a league championship or who will win the MVP award. Futures bets are typically available well in advance and odds change as the season progresses. They tie up your bankroll but can offer significant value early in a season.
Draw No Bet (DNB)
A bet where your stake is refunded if the match ends in a draw, effectively removing the draw as an outcome. You only win if your selected team wins, and only lose if the opposing team wins. DNB offers lower odds than a standard 1X2 bet but provides insurance against the draw result.
Point Spread (Spread)
A bet where the bookmaker assigns a points advantage or disadvantage to level the playing field between two teams. The favorite must win by more than the spread (e.g., -6.5 points) for a bet on them to win. The underdog can lose by less than the spread or win outright. Common in American football and basketball.
Double Chance (DC)
A bet that covers two of the three possible outcomes in a football match: Home or Draw (1X), Away or Draw (X2), or Home or Away (12). It offers a higher probability of winning but at lower odds than a single outcome bet. Double Chance is popular for reducing risk when backing an underdog.
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