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But what do "back" and "lay" mean?
by dzdt 10y ago
But 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.