If you accepted a stake of £10, then you would win £10. This stake figure is the amount you are willing to accept as a bet and, in the event that the outcome is in your favour, it is the amount you will win.įor our example, this means that if Liverpool win the match or it ends in a draw, you will win this stake. Imagine you are the bookmaker in this situation. You will then be invited to type in the stake. Then, to lay a bet on Manchester United to lose the game, you would select the pink column for Manchester United These colours vary across the exchanges but on the Betfair Exchange, the blue column is for backing a bet and the pink column for laying a bet. To explain how this way of betting works, let’s continue using our example of a football match where you think that Manchester United will not win.Īfter finding the match on a betting exchange, you will see two colour-coded columns under each outcome to show decimal odds for backing and laying. This bet is matched with another player on the exchange. Rather than simply betting on Liverpool to win, you are able to lay a bet on Manchester United not to win. To understand this better let’s take an example of a football match between Manchester United and Liverpool in which you believe that Liverpool will win. Simply put, laying a bet means betting against an outcome. The second type of player is the crucial one: the player who ‘lays’ a bet. Backing a bet on an exchange is the same as doing so with a traditional bookmaker, and simply involves selecting an outcome and deciding a stake. The first is the player who places the ‘back’ bet. This means that there are two kinds of players involved in any bet made on an exchange. The main difference between a betting exchange and a traditional bookmaker is that, with an exchange, you are betting directly against other players. This guide will demystify betting exchanges, and explain the basics of how to use them to get the best value from your bets. However, they are a great way to get the best odds on sports and give yourself the best chance at winning.

Some bettors can shy away from betting exchanges and lay betting because the concept seems overly complex. Betting exchanges are an increasingly popular and attractive alternative for many customers because they differ from the traditional online betting site offered by bookmakers.

Betting exchange vs sportsbook