A lay bet is a form of bet that lets players bet on an event not taking place in the context of Orbit Exchange. To put it another way, a lay bet is the polar opposite of a regular sports bet, in which participants usually bet on a team or individual to win.
On a platform for Betting Exchange like Orbitx bet, users may take on the roles of both bookmakers and gamblers, setting their own odds and betting against other users. As a consequence, customers have the option to back a bet, which is a bet on a future occurrence, or lay a bet, which is a bet on a future event not occurring. For users that have a solid grasp of the chances and possibilities of various events and wish to play a more active part in their betting strategy, lay betting could be a beneficial tool.
Choosing Orbitx bet is the best choice if you are looking for an alternative to betting platforms. Users have trusted this powerful and innovative betting exchange powered by Betfair since 2017. Offering impressive features, markets, liquidity, and fast bet acceptance, the platform gives you an unforgettable betting experience.
Instead of betting against the bookmaker, players bet against each other in Orbit Exchange. Compared to traditional sportsbooks, this platform offers many advantages. The back and lay option also provides greater flexibility when betting.
Opening an Orbit Exchange account
- Register with a broker and complete your KYC documentation to make a successful deposit.
- Press Create Account and enter a username and password for your Orbit account. Make sure your username is at least 5 characters long.
- After this, transfer the desired amount of funds to your Orbit Exchange account.
- To transfer funds into your account, you would need to transfer from your broker’s end-site wallet to your Orbit Account. Enter the desired amount of money you want to transfer, and click on Request Transfer.
- Keep in touch with your broker’s customer support to get immediate assistance if you face any issues.
Also Read: How to open an Orbit Exchange account from the Orbit Exchange Portal?
Commission on Orbit Exchange
Before you start your Orbit Exchange lay bet, you should know the Orbit Exchange commission rates. Many customers highly praise the commissions that come with Orbit Exchange winning bets, and you can find this in countless Orbit Exchange review. The broker charges each winning bet on Orbit Exchange a 3% commission. Furthermore, losing bets do not incur any commissions or fees. Here is an example to explain how this works.
Let’s say you bet at evens (2.0). Each user would have bet the same amount, and the winner would receive what they bet. For example, if each person placed 100, the winner would get their stake back plus another 100! Hence, just 3% of the additional 100 would be charged as a commission.
How to place a lay bet on Orbit Exchange?
To place a lay bet on orbit x exchange, follow these steps.
- Click on the pink price next to your preferred selection
- Enter the stake price in the stake box. Note that the amount you would risk in a lay bet is entirely different from a back bet. Here, you risk a potential amount that the backer would naturally win. So in simple terms, your potential profit is the backer’s stake.
- Once satisfied with your selection, click on the Place Bets button. This will also give you a bet offer that can be returned as unmatched, partially matched, or matched in full.
Also read: How to place back bet on Orbit Exchange?
How to place a lay bet on Orbit Exchange for a football match?
To place a lay bet on Orbit Exchange for a football match, follow these steps:
- Go to the Orbit Exchange website and log in to your account.
- Click on the Football tab from the list of sports on the left-hand side of the page.
- Select the football match that you want to bet on.
- Click on the Lay button next to the outcome that you want to bet against. For example, if you want to lay Manchester United to win their match, you would click on the Lay button next to the Manchester United outcome.
- Enter the amount of money that you want to stake on your lay bet and click on the Place Bet button.
Also Read: Benefits of Orbit exchange registration
Your lay bet will be placed in the order book and will be matched with a backer’s bet if there is one available. If your lay bet is matched, you will win your bet if the outcome that you laid against does not happen. For example, if you lay Manchester United to win their match and they lose or draw, you will win your bet. However, if Manchester United win their match, you will lose your bet.
Here is an example of a lay bet on Orbit Exchange for a football match:
- Match: Manchester United vs. Liverpool
- Outcome: Manchester United to win
- Lay bet stake: 100 USD
If your lay bet is matched, you will win 100 USD if Manchester United do not win their match. However, if Manchester United win their match, you will lose 100 USD.
How to place a lay bet on Orbit Exchange for a horse race?
Follow these steps to place a lay bet on Orbit Exchange for a horse race:
- Log in to your Orbit Exchange account on the website.
- Select the Horse Racing tab from the selection of sports on the page’s left side.
- Choose the equine race you wish to wager on.
- Click the Lay icon next to the horse against which you intend to wager. To lay Arkle to win the Grand National, for instance, you would select the Lay button next to the horse’s name.
- Enter the amount you want to bet on your lay wager, then select the Place Bet button.
- Your lay bet will be deposited in the order book and matched with an available backer’s bet if one is available. If your lay bet is matched, you win if the horse you wagered against does not win. As an example, if you stake Arkle to win the Grand National and he finishes second or lower, your wager will be successful. If Arkle wins the Grand National, however, you will forfeit your wager.
Also Read: How Orbit Exchange is Changing the Landscape of Sports Betting
A lay bet on orbit x exchange for a horse race is as follows:
- Grand National Race
- Horse: Arkle
- Lay bet amount: $100 USD
If your lay bet is successful, you will win $100 if Arkle loses the Grand National. If Arkle wins the Grand National, however, you will lose $100.
Sports available on Orbit Exchange
The following sports are available on orbit x exchange.
- Cricket
- Tennis
- Basketball
- Horse racing
- Rugby
- Athletics
- Baseball
- Boxing
- Australian Rules
- Cycling
- Darts
- E-sports
- Golf
- Greyhound racing
- Handball
- Ice Hockey
- MMA
- Motorsports
- Gaelic games
- Netball
- Snooker
- Volleyball
Also read: Which sports are available on Orbit Exchange?
How to start making money on Orbit Exchange
Select the sport you want to bet on when creating an Orbit Exchange account. You must select the currency you wish to bet with (USD or BTC). As an alternative to Bitcoin, you can also choose Bitcoin Cash. You might have to pay additional fees if you use BCH transactions.
Bitcoins are converted into fiat currency with Crypto Orbit (FIAT currency is backed not by gold or silver but by the government issuing it). Euros and dollars are examples of this type of currency. Since Bitcoin’s price fluctuates significantly, your available balance is protected from future price changes. Therefore, even if Bitcoin’s price drops significantly, your money will still be safe since its value will not change even if the price of Bitcoin declines significantly.
Also read: Betting With Crypto on Orbit Exchange
Conclusion
The individual conditions and objectives of the user will determine whether or not a lay bet is beneficial in Orbit Exchange. A handy tool for users who have a solid grasp of the chances and probabilities of certain occurrences and wish to play a more active part in their betting strategy is lay betting, which allows users to wager on an event not occurring.
Lay betting can occasionally be a beneficial technique to benefit from mispriced odds or to protect against possible losses from other bets. However, lay betting also entails some dangers and might not be appropriate for all players. Lay betting may have both advantages and disadvantages, so it’s crucial to carefully weigh your options and only utilize it if you completely comprehend how it operates.
There are more different betting information on Germany betting exchange.