I'm not going to go into details about what lay-betting is, so please, no one PM me asking for further info on this.
Here is the working solution:-
1. Sign up for a Betfair account and fund it with Paypal. The stealth Paypal should be in you real name but with a stealth address to avoid mismatching name issues.
2. Sign up to another bookmaker site, again in your real details but fund it with a debit card.
3. Find a suitable bet that is likely to win eg top of the league versus bottom of the league.
4. Place the bet on the site signed up for in (2). Place the corresponding lay bet on Betfair using Paypal.
5. Ideally the team wins: you lose money on Betfair and win on the other site. Withdraw funds to debit card.
6. If you win on the lay bet, it isn't the end of the world. Repeat process until money is in account that can be withdrawn to debit card.
There's a little bit more to it than this but the above is the basics. Working out which bets / lay bets to use can take a little time but is perfectly possible.
Here is an example to explain a lay bet:-
Eg Manchester United versus Arsenal
Bet: Manchester United to WIN
Lay bet: Arsenal NOT TO LOSE
The three possible outcomes are all covered: Man Utd WINS, Arsenal WINS or a DRAW.
Here endeth the lesson.
Just to add, I personally wouldn't use another site as per (2). Far better to walk into a bookmakers and place a cash bet instead. This would eliminate any possible electronic paper trail that would indicate money laundering.
Have fun and remember to bet responsibly.