Laying the Odds
Offering a bet which one could lose more than the opponent, but is usually the favorite outcome.
"Laying the odds" is a term commonly used in gambling, particularly in betting contexts. It refers to the practice of a bookmaker or a betting exchange setting the odds for a particular event or outcome. When a bookmaker lays the odds, they are essentially offering a price at which bettors can wager on a specific outcome occurring or not occurring.
In a more specific sense, "laying the odds" can also refer to the act of betting against an outcome. For example, in sports betting, if a bettor lays the odds on a team to lose, they are betting that the team will not win the game. This is often contrasted with "backing" an outcome, where a bettor wagers that an event will happen.
In summary, "laying the odds" involves offering or placing a bet against an outcome, and it plays a crucial role in the dynamics of betting markets.
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