3 ms·
x:y or x/y means y / (x + y), so 4:1 is 1 / (4 + 1) or 20 %.
by danbruc 10y ago
x:y or x/y means y / (x + y), so 4:1 is 1 / (4 + 1) or 20 %.
- dzdt 10y agoBut what do "back" and "lay" mean?
- danbruc 10y agoBack means you bet on something happening, lay means you bet against it happening.
- corin_ 10y agoBacking is betting on it to happen, laying is being the bookie for somebody else (i.e. betting against it happening). So if something is 4/1 and you back it, you'll win £4 for each £1 you wager. If you lay it, you'll win £1 for each £4 wagered. Betfair exchange is matching up people on both sides of the bet, with a margin of commission in between the back and lay values.