Betting Exchanges

All sports betting involves an agreement between two parties. One bet for (back) and one against (lay) of a particular result. The back and lay, even if they are terms popularized since the advent of exchange houses, have always existed. In a traditional house, the bettor always bet “for” a particular result. If it is favorable, the bettor wins an amount equal to the initial amount multiplied by the odds. If the result is contrary, the bettor loses the initial amount wagered. The traditional bookmaker always bet “against” His view is exactly the opposite: the house wins when the result of the event is contrary to the bettor and lose when the result is favorable to the bettor.

Table 2
Crossing between the bettor bets and traditional house

Result “for” Result “against”
Bettor (back) Earnings = initial amount x fee Losses = initial amount
Traditional house (lay) Losses = initial amount x fee Earnings = initial amount

In a house swap, the bettor can bet both for and against a particular result. In the first case, bet as you would in a traditional house. In the second, she plays the role traditionally corresponded to the bookmaker.

Table 3
Crossing between two bettors betting on a house swap

Result “for” Result “against”
Bettor 1 (Back) Earnings = initial amount x fee Losses = initial amount
Bettor 2 (Lay) Losses = initial amount x fee Earnings = initial amount

** When making bets in a house exchange, bettors 1 and 2 will be deducted from profits appropriate, usually around 5% commissions. Note that the fee has opposite meanings for the bettor who makes the back and which makes the lay. Bet on the share indicate the amount the bettor to win, so look interested as high as possible to maximize profits quotas. In the bet against the share indicates the amount to lose, so interested infinding as low as possible to minimize losses quotas. Inexperienced bettors should take into account that sometimes betting against (lay) they put at risk much higher than the initial amount amounts. Suppose we accept a lay fee of 10 € with 5.00. The bettor wins the initial amount, ie € 10, if the end result is “against”. But if the result is “pro” then you are paid the amount of the bet multiplied by the share, ie € 5.00 ∙ 10 = 50 €. The amount at risk in this case (€ 50) is much higher than the amount accepted in the “lay” (10 €).

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