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LSDefine

Simple English definitions for legal terms

layoff bet

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A quick definition of layoff bet:

A layoff bet is a type of bet made by a bookmaker to balance the amount of money placed on each side of a wager. This helps the bookmaker avoid losing too much money and ensures that the total amount of bets is equal on both sides. It's like a safety net for the bookmaker.

A more thorough explanation:

Definition: A layoff bet is a type of bet placed by a bookmaker to reduce their risk of losing too much money or to balance the amount of money bet on each side of a wager. It is a way for bookmakers to protect themselves against excessive losses.

Example: Let's say a bookmaker has taken a lot of bets on one team to win a football game, and they are worried that if that team wins, they will have to pay out more money than they can afford. To reduce their risk, the bookmaker might place a layoff bet on the other team to win. This way, if the first team wins, the bookmaker will still make a profit from the layoff bet.

Explanation: The example illustrates how a layoff bet works in practice. Bookmakers use this strategy to minimize their losses and ensure that they make a profit no matter what the outcome of the wager is. By placing a bet on the opposite outcome, they can balance the amount of money bet on each side and reduce their risk of losing too much money.

layman | layoff bettor

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babycat
15:13
I also have hot chick friends I can flirt with
BulbasaurNoLikeCardio
15:13
@babycat: Tinder spams marketing messages so dude probably forgot to delete but either way he didn't deserve you so fuck him
babycat
15:14
That was actually it but I was mean to him for like two days about it anyways
Dkk
15:14
Yeah, I am going to bed. I am starting to feel tired. Goodnight.
15:14
Goodnight DK
Dkk
15:14
Thank you. Goodnight to you too.
babycat
15:14
don't let the bedbugs bite
Dkk
15:14
Yeah cus bed bugs can carry aids.
BulbasaurNoLikeCardio
15:14
The whole having a group of hot chick friends you can flirt with while going out is great. Makes for a fun and safer environment when drinking.
babycat
15:15
I love my hot chick friends. Don't know where I would be without them
15:15
Crazy story, I had dinner with the dad of a friend of mine and he just openly went on Tinder in front of me and the other guys. Later my mom ran into him with another woman (not his wife/friend's mom) and he got very uncomfortable and never texted her again
15:15
I can't imagine what it's like being a cheater or like a serial dater. Shit seems so nervewracking
BulbasaurNoLikeCardio
15:16
My wife and I have great and open communication but one night she kept asking me why this girl is blowing up my phone with messages/pictures so I showed her... she got a new puppy and got drunk so had her puppy doing a fashion shoot at 11pm.
babycat
15:16
Awwww
BulbasaurNoLikeCardio
15:17
I need more hot friends to hang with, the town we are in sucks butt for it and everyone seems shifty/flaky.
glovediedthisishismom
15:17
whoever was asking for an AU wave earlier fished their wish
babycat
15:18
I keep my dating very clean and above board. No overlaps, no ambiguities. If you want to go into some sort of public office in the future it's good to be smart about things like that
babycat
15:18
So many politicians have sex scandals and that's how they get blackmailed and other people have power over them. I mean of course there are ethical and emotional issues too but it's literally just smart to not be a cheater
BulbasaurNoLikeCardio
15:19
I would never go into public office as it drags in your family as well. Dating is so much easier then some people make it out to be and it is not that hard to not cheat. I would always tell my soldiers to rub one out before making a big decision so they arent acting dumb
BulbasaurNoLikeCardio
15:20
Like if more cheaters just paused and rubbed one out they would be like you know maybe ill just watch some TV
babycat
15:20
I've seen some people do a really good job keeping their family out of it. But it really is an "anything they can use against you, they will" type of vibe
babycat
15:21
Ugh I need to go work on essays bye folks
BulbasaurNoLikeCardio
15:22
I don't do anything I can be blackmailed with, I like money too much to be sketch. Have fun doing your essays and a good weekend
15:23
don't have the motivation to work on essays
BulbasaurNoLikeCardio
15:25
I got to work on essays for finals but I'm like that is a next week me problem. I am glad to be done with LS ones. I felt weird talking about myself
babycat
15:28
Bulbasaur if you weren't constrained by location I would say you should apply to Northwestern. They love applicants like you
BulbasaurNoLikeCardio
15:30
@babycat: what makes you say that?
15:31
sorry i already asked this and forgot to check but how much does a masters degree help for admissions? i rly want to go to northwestern or uchicago but im worried about my stats
glovediedthisishismom
15:32
some of you be so focused on the cheese you forgot about the trap
BulbasaurNoLikeCardio
15:32
I have not talked to northwestern or uchicago but the schools I did talked to said graduates are nice but they cant be hard stats to compare to others as not everyone has one
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