Backing and Laying on Betfair

Backing

Referring back to Figure 2, concentrating on the back (blue highlighted odds and left hand side from there) part of the exchange market we can see that there is £2,422 available at odds of 2.32 to back Liverpool in the match odds market. This implies that were you to insert a price of 2.3 or lower, your bet would automatically be matched at the 2.32 odds price (assuming the monetary value did not exceed £2,422).

Backing calculation

So say you back Liverpool for £100, you’re effectively saying “I bet £100 that Liverpool will win the match and I will receive 2.32 times my stake.”

The price 2.32 represents your stake plus the risk for taking on the bet; 1 representing your £100 stake and 1.32 represents the £132 risk the layer is putting forward. So should you win the bet (Liverpool win the game) you will get back £232 (of which £132 will be profit). Should you lose the bet you will lose £100.

Of course if you decide that you want better odds than are currently being offered you may input odds of 2.34 or above which will then appear on the right hand side (lay side) of the exchange market. Whether these are matched depends on the fluctuation of the market. You can leave this bet on to inplay if you so wish my clicking on the “keep” box in the bet slip on the open bets tab.

Laying calculation

If you choose to instead lay Liverpool (and therefore say Stoke will win or the match will finish in a draw) at odds of 2.36 for £100 instead, you are indicating that Liverpool will not win the match.

If you lay Liverpool for £100, you’re effectively saying “I bet £136 that Liverpool will not win the match and I will receive 2.36 times my lay amount.”

The price 2.36 represents your stake plus the risk for taking on the bet; 1 representing your £100 profit (the backer is putting forward) and 1.36 represents the risk of your lay bet and the £136 you are risking on the bet. So should you win the bet (Liverpool do not win the game) you will get back £236 (of which £100 will be profit). Should you lose the bet you will lose £136.