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Betfair - back/lay??

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    Betfair - back/lay??

    Hi guys

    Could anybody explain me what means back or lay in betfair.com ??




    thanx

    #2
    http://www.bettingadvice.com/showInfo.php?id=18
    KOFFIEBOER, YOU ARE MONSTER

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      #3
      Re: Betfair - back/lay??

      Originally posted by DANIO
      Hi guys

      Could anybody explain me what means back or lay in betfair.com ??




      thanx
      Betfair is not exactly a bookmaker. It is a betting exchange. So apart from backing a team (this means that you bet for a certain outcome exactly as in traditional bookmakers) you can also become a bookmaker and offer an outcome of a game. For example in the game Portugal - Greece, if the odds for Portugal win are 1.80 and you lay Portugal ,this means that you offer to someone to bet on you on 1.80. If you lay 100$ at 1.80 and Portugal wins, you must pay him net loss 80$. But if Portugal doesnt win you get 100$. In other words when you lay a team it is as if you play the draw and the win of the opponent team (double chance). There are 3 columns in each section because you can ask for a certain price in which you want to bet. For example if again the odds are 1.80 and you want to back Portugal but at least at 1.85, (because in your opinion 1.80 is not value) you can ask at 1.85. If the market goes up, you will find someone to match your bet (lay it) .If not, your bet remains unmatched and cancels out. In other words, Betfair is a market where people back and offer bets . One side offers a bet (lay) and the other side takes a bet (back). Hope i helped you but it is not that easy. There are some info in the site. Start with simple bets and then you will also understand how to hedge and make sure bets. One disadvantage (or maybe advantage???) is that most of the games are offered only singles, and u can rarely find accumulators.

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