What dies Lay the favorite mean?

"Lay the Favorite" is a phrase commonly used in sports betting that refers to placing a bet on the favored team or competitor to win a game or event. The term "lay" indicates that the bettor is wagering against the underdog, assuming that the favorite will perform as expected. The phrase gained broader recognition from the 2012 film "Lay the Favorite," which was based on the memoir of a woman who became involved in the gambling world.