When laying the price, you are backing the team or participant that is expected to win. In this case, the bettor is required to put up a higher amount of money than they would win because the odds are in favor of the favorite. This is common in moneyline bets or point spread betting, where the sportsbook sets odds based on the likelihood of the favorite winning, so a successful bet results in a smaller profit relative to the risk.
Laying the Price Example
For example, if a bettor places a $150 bet on a favorite at -150 odds, they would need to wager $150 to win $100, as the favorite is more likely to win.