Laying odds is a term used in wagering, meaning to set the probability of something happening or not happening. There are several synonyms for this term that can be used to describe the same activity. One of the most common synonyms is 'betting' or 'placing a bet,' which refers to placing money on a particular outcome in a game or event. Another synonym is 'giving odds,' which denotes the act of estimating the chances of something happening or not happening. Additionally, 'making a prediction' or 'forecasting' can be used to describe laying odds, as it involves using available information to predict the likelihood of future events.