Lay betting and exchanges
What it means to “lay” a selection — the engine of most matched setups.
Information only. Not financial, legal, or gambling advice. Rules and offers change; always read the operator's terms.
Back vs lay
A back is a bet for an outcome (Team A wins). A lay is a bet against that outcome — you act like a mini bookmaker, accepting someone else’s back.
If the outcome happens, the layer pays the backer. If it does not, the layer keeps the backer’s stake (minus commission).
Why exchanges matter
Traditional bookmakers rarely let you lay cleanly at scale. Exchanges publish lay odds and visible liquidity so you can size a hedge. Matched bettors live in the order book.
Commission
Exchanges charge commission on net winnings (model varies). Your calculator should include exchange commission rate — a 2% fee is not the same as 0%. Small rounding differences add up over hundreds of trades.