When you stop and think about it, lay betting is a bit silly.

In my lay bookie scenario with a 200/1 horse you would have to give the bookie $200 and if the horse doesn't win the race you get back your own $200 plus $1 from the bookie. If the horse wins the race then the bookie keeps your 200 clams.

And yet a lot of us lay bet on the exchange. It just seems funny when you look at it like that.

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