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Laying the Odds - "A form of placing a wager in sports betting when, because a likely winner (favourite) has so high odds to be the first in a competition, those betting on him/her are said to be 'laying the odds' that is getting less than the amount payed because of the excessive number of people betting on a single players (you don't have to forget the commissions that the house takes from the bettors). On the other hand, in casinos, 'taking the odds' is the most popular form of wagering, that is the players take more than the amount placed in a bet."
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