I am no expert, just learning this laying thingy-magingy however this is how i understand it:
To 'lay' is opposite to 'backing'. So on betfair it has two columns, one says 'back' the other 'lay'. If i back the Aussies i am wagering that they will win, similarly if i back the Poms or a draw. Conversely if i lay the Aussies i am saying they will not win, therefore any other result other than the Aussies winning is good.

At this late stage i do not think that they will win, so given that i think the most likely result is either the poms will win by bowling them out or they will hang on to draw (i.e the aussie will NOT win) i wager to 'lay' the Aussies to win. I will win as long as the Aussies do not pull of the miraculous and get up. A draw and or the Poms winning will see my wager successful - laying the Aussies to win. It is the opposite to backing. Does this make any sense?

P.S I just remembered that here in Oz we can't bet online on mathces "in running" so it really doesn't matter - pity. However when Betfair start up over here with their new tassie license we should be able to phone it in, like IAS and others.

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