Back and Lay Betting Exchange Basics

If you have only ever placed bets with a traditional local bookie, you are used to backing a single outcome and waiting for the final over. Betting exchanges give you an entirely new superpower: the ability to lay bets and trade odds like a financial asset.

What Does Laying a Bet Mean?

When you lay a bet, you are betting that an outcome will NOT happen. You act as the bookmaker. If you believe Australia will not defend 180 runs against India, you lay Australia. If India wins, you collect the backer's stake.

The Art of Cutting Loss and Setting Books

Professional exchange traders rarely hold a position until the final ball. If you back a team at 2.40 before the match and they take three early wickets, their odds drop to 1.30. By laying that team at 1.30, you create a green book where you profit no matter who wins the game.