What happens if a bet is suspended?
If you backed a postponed match in a single bet, the bet is void and the stake will be refunded. If you backed a postponed match in a double bet, the bet will revert to a single on the remaining selection. If both selections are postponed, the bet is void and stake will be refunded.
What happens if a lay bet wins?
In horse racing, when you lay a horse, you win if any other horse in the race comes first. If the horse you bet against wins then you lose and have to pay the backer his winnings, which could be a lot more than the stake. So be careful about how much you decide to lay.
Can bookies refuse to pay out?
TRUE. There is no legislation to enforce betting debts of any kind, since they are regarded as a 'debt of honour'. This applies equally to bookies, casinos, even the football pools. Bookmakers can refuse to pay out with legal impunity, and have occasionally done so where a betting coup was suspected.