Need help to explain betting

[kcmei]

Hi all,

im trying to figure out how betting works on betfair. All these backs and lays really confuse me. Can someone kind enough to shed some light into how this all works, just briefly. I took a screenshot of the arsenal game for example.

- What does back sunderland/arsenal/draw mean
- and what does lay sunderland/arsenal/draw mean

I dont get how you can have back and have lay aswell

thx and i will try to rep helpers as possible

 

[Spursking]

Hi.

When you back, it is like a normal bet on a traditional bookmaker. You back Sunderland to win @1.38, and when it ends in a Sunderland win you get the winnings.

A lay bet is when you bet against an outcome to happen. In your example: Lay 1.4 Sunderland, and you would win if it ends in a draw or an Arsenal win. If you lay for £10 @ 1.4 you will have a liability of £4 to be able to win £10 minus Betfair comission. (Max 5% of winnings)