Definition

When a sportsbook bets with another sportsbook or otherwise transfers some bets to balance liability. A layoff is essentially the book hedging its risk if one side has drawn heavy action. This is done behind the scenes between books.

Formula

Example

If one sportsbook took an unusually large bet on Crawford that they’re uncomfortable with, they might **lay off** part of that risk by betting on Crawford at another sportsbook or exchange. This way, if Crawford wins, the loss is offset by the win on their layoff bet elsewhere.