What does the terms “Back” and “Lay” betting in Betting Exchange mean?

In sports betting, “back” bets are shown in blue, while “lay” bets are shown in pink.

• Back Bet: You bet that an outcome will happen. For example, betting on a team to win.
• Lay Bet: You bet against an outcome. You act like the bookmaker. If the outcome happens, you lose your bet. If it doesn’t happen, you win and the backer gets their stake back.

Liability is the amount you might have to pay if you lose a lay bet.

Imagine you’re a bookmaker. If the bet wins, you pay the winnings. If it loses, you keep the backer’s bet. Your liability is the amount you might need to pay out if the bet loses.

Here’s how to place a lay bet:

1. Choose a Market: Pick the market you want to bet on.
2. Select an Option: Click on “Best Price/Odds” for your choice.
3. Enter the Amount: Let’s say you lay a bet at odds of 2.70 with a stake of 100. Your liability will be ₨170.

Example:

• Potential Profit: ₨100
• Potential Loss: ₨170

If the team wins, you pay ₨170 to the winner and lose your ₨100 stake, but if the team loses, you win ₨100 minus the betting exchange commission.

Note: BetJili charges a commission fee on net winnings from each market.