Often, when you place a gambling bet, you’re given the option of selecting how many shots you want to ‘lay’ (risk money on). What is the difference between ‘lay’ and ‘take’ bets, and how does this affect your chances of winning? Let’s have a look.
What Are ‘Lay’ And ‘Take’ Bets?
To start with, let’s clarify the differences between ‘lay’ and ‘take’ bets. A lay bet is when you place a wager on one or more outcomes of an event, with no commitment to actually participate in the event. As the name would suggest, a ‘take’ bet means that you’re making a commitment to partake in the event, and are risking money on the outcome. (more on this later)
Now let’s look at how these bets affect your chances of winning. If you place a lay bet on a winning horse, you’re guaranteed to lose your money, as the horse will most likely be disqualified for some reason or another. However, if you take a bet on the same horse, you stand a chance of winning, as the horse might just make it to the end and win. Based on this logic, a lay bet is essentially a ‘no bet’ as you have no intention of participating in the event, but you’re taking a chance that the horse will perform well. This article won’t go into great detail on odds as there are plenty of resources online if you’re interested in this topic. (more on this later)
How Is Gamblers’ Insurance Different From Regular Insurance?
When you’re purchasing regular insurance, you’re committing to paying out a certain sum of money if a covered event happens. For example, if you purchased a homeowners insurance policy, you’re covered for up to a certain amount of damage (loss) due to an accident or mishap with your home. The insurance company will step in and repair or replace your belongings if you meet the right conditions.
However, with gamblers’ insurance, you’re not making any kind of permanent insurance purchase. Rather, you’re buying a one-day pass to a gambling event, such as a horse race or casino party. What this means is that if the event you have tickets for ends in a tie, there will be no winner decided and therefore no payout. This is why it’s important to keep track of how many shots you’ve ‘laid’ during the game. If you’ve placed multiple ‘lay’ bets and the score is still tight at the end, you won’t get paid out on any of your wagers. This is also why it’s a good idea to buy gamblers’ insurance the day of the event, as you won’t be able to swap it out once the game starts. (more on this later)
The Chase The Sun Also Rises In The East
The Eastern and Western hemispheres generally have different climate conditions, which means certain events might occur at different times of the year. This could mean that some sports might not be played at all in one particular region. For example, it’s quite unlikely that golf will ever be staged in the northern territories, as the seasons there don’t accommodate for much golfing. It would be quite difficult for an outdoor game to take place considering the climate.
This might also affect the results of certain contests, with some decided by a panel of judges and others based on popular vote. In cases like these, it might be wise to choose the option that’s most convenient for you, depending on your time zone. Do you want to wake up and see the sun rise in the east, or in the west?
The same logic applies to things like art exhibits and music festivals, as well as any other event that might be affected by geographical location. It’s a good idea to research the ins and outs of each event you’ll be interested in, so you can make an informed decision about which option is best for you. This might mean trading off some convenience for a better chance of winning.