Definition
Laying the points, in sport betting terms means to bet on the favorite.
Why lay the points?
In pointspread games, it is usually better to play the pointspread as opposed to playing the moneyline. As stated in an earlier article, if one thinks the favorite will win the game straight up, then one should consider playing such a team against the spread (ATS). It is better to 'lay the points' and play the pointspread, rather than playing the moneyline.
Example
For example, if football team A is favored by 7.5 points, then such a team must win the game by more than a touchdown for a pointspread bet on team A to win. If team A wins the game by a touchdown, team A does not cover ATS, and hence a pointspread on team A does not win. If, on the other hand, team A blows out its competition, then the pointspread bet on team A will win.
High profile games
In high profile games, favorites are a dangerous bet. Since, by default, the public loves to bet on the favorites, betting on such teams must be selective. Conversely, blindly betting on underdogs in high profile games is a pretty good bet (ATS)-beware though, sometimes the underdog can also become the 'betting favorite' (ie. Cinderella teams in the NCAAB tournament). Betting on the underdog ATS in high profile games is generally a good bet. Most often, if the line is very accurate, the favorite wins the game straight up, but will lose ATS. This then, should make the sports bettor aware of the fact of making money on betting the underdog against the spread in high profile games.
Teasing the favorite
In another article concerning the favorite, the author discussed the option of parlaying the favorites on the moneyline. Similar to parlays, teasing the favorites are also a bad way to sports gamble and a good way to lose one's money fast. As a sports gambler, do not be lured and duped into thinking that just because a team is favored that such a team will win. Teasing favorites is very similar to parlaying, but is actually a worse bet because most teasers require vigorish.
Summary
In closing, 'laying the points' is another term for betting on the favorite. There are some angles to consider, but mostly, the most pertinent is to not bet the favorite in high profile games. Such teams are public darlings and usually are a losing type of bet in the long run.