How do I cash out a lay bet on smarkets?

How do I cash out my smarkets?

Select the withdraw icon on the right hand side of the site or click here to go directly to the withdrawal page.

What is a lay bet smarkets?

When placing a lay bet you are betting for an outcome not to happen and playing the role of the bookmaker – for example betting that Real Madrid will not beat Roma. To place a lay bet on Smarkets simply select the odds in the blue box as displayed below. In doing so, the odds currently in the box will be selected.

How does a lay bet work?

A Lay bet is when you bet on an outcome not to happen. For example, if you placed a bet with us on a horse not to win a race, bet on a football team not to win a game or bet on a golfer not to make a birdie on a particular hole. In lay betting, you essentially become the bookmaker.

How long does it take to withdraw from Smarkets?

Withdrawal process time

Payment option Time
Visa debit card 1-6 business days
Solo / Maestro card 1-6 business days
Visa credit card 1-6 business days
MasterCard / Eurocard 1-6 business days
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Can you cash out multiples on Smarkets?

You can only sell the multiple if every selection has available liquidity on the sell side in their respective markets.

What happens if I lose a lay bet?

If your lay bet loses, you‘ll lose your liability in the exchange, but win it back at the bookmaker (as your ‘winnings’). If your lay bet wins, your liability will be returned to your account plus you’ll also win your lay stake amount (minus any commission charged by the exchange).

What is a lay stake?

Lay betting is an option on exchanges like Betfair where bettors can play the bookmaker, offering odds to sell a bet instead of to back a bet. It is one component of matched betting, where punters both back and sell bets on the same game to guarantee winning.

How do you make money back and lay?

The back to lay arbitrage betting strategy is now the most common method of sports betting arbitrage and consists of two bets between a bookmaker and a betting exchange. This strategy allows bettors to back with a bookmaker and then lay the same outcome on a betting exchange for a profit.

How do you calculate return on a lay bet?

It is important to know your return on investment (ROI), but when it comes to lay bets you must make sure that you calculate it properly. When calculating ROI you usually add to together all your bets and divide the amount of profit you have made by the amount you have bet.

Does a lay bet include a draw?

If you’re not familiar with what a lay bet is, watch this first. Instead of betting that a draw will happen, we are betting that the match result WILL NOT be a draw. In other words, either the home or away team will win. This strategy is almost always used in play.

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Can I cancel a matched bet on smarkets?

Bets need to be matched in order to stand. Once a bet has been matched, it cannot be cancelled. The status of a bet will be displayed in both the account page and the ‘Your bets’ section.