Back & Lay Betting Basics
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Back & Lay Betting Basics
What is Exchange Betting?
Unlike a traditional bookmaker, Gamting Exchange is a peer-to-peer betting platform. You are not betting against the house — you are betting against other users. The exchange just matches buyers (backers) with sellers (layers).
Back (Yes) — Betting FOR Something to Happen
When you Back a team, you are saying "I think this team will win." This is just like a normal bet at any bookmaker.
Example: Back Bet
India vs Australia — You Back India to win.
| Your Bet | Odds | Stake |
|---|---|---|
| Back India | 1.80 | 1,000 |
- If India wins: You get +800 profit (1,000 x 1.80 = 1,800 return - 1,000 stake)
- If India loses: You lose -1,000 (your stake)
Profit = Stake x (Odds - 1) = 1,000 x 0.80 = 800
Lay (No) — Betting AGAINST Something Happening
When you Lay a team, you are saying "I think this team will NOT win." You are acting like a bookmaker — taking someone else's bet.
Example: Lay Bet
India vs Australia — You Lay India (meaning you think India will NOT win).
| Your Bet | Odds | Stake |
|---|---|---|
| Lay India | 1.80 | 1,000 |
- If India loses (your prediction is correct): You win +1,000 (the backer's stake)
- If India wins (your prediction is wrong): You pay -800 liability
Liability = Stake x (Odds - 1) = 1,000 x 0.80 = 800
Quick Comparison
| Feature | Back (Yes) | Lay (No) |
|---|---|---|
| You are saying | "This will happen" | "This will NOT happen" |
| Risk (you lose) | Your stake amount | Liability = Stake x (Odds - 1) |
| Reward (you win) | Stake x (Odds - 1) | The backer's stake |
| Money held by exchange | Stake | Liability |
Key takeaway: Back = normal bet. Lay = you become the bookmaker. Both are available on every market in Gamting Exchange.
