Can someone explain to me what "back" and "lay" mean in sports betting?

[skel1983]

Betfair.com is a site where you can act as the bookie aswell as the punter.

So basically you can create odds yourself and allow other punters to back the odds you have offered.

So laying means you are basically backing something to loose, meaning your offering them odds you have highlighted in pink for other punters to back.

Backing is in blue and is when you are the punter and backing something to win.

I hope thats clear

[CFH]

Betfair.com is a site where you can act as the bookie aswell as the punter.

So basically you can create odds yourself and allow other punters to back the odds you have offered.

So laying means you are basically backing something to loose, meaning your offering them odds you have highlighted in pink for other punters to back.

Backing is in blue and is when you are the punter and backing something to win.

I hope thats clear

Fuck me, I'm more confused than ever... I think I understand what you're saying though, I guess I need to find another site then. I've never bet on sports in my life, but I just wanted to check the odds on whether Wlad - Haye will go the distance (I'm 100% sure it won't) and what the over/under odds are...

Edit: Hold on a sec, does that mean that I can get 1.1 odds that the fight doesn't go the distance by backing someone elses bet??

[skel1983]

Betfair.com is a site where you can act as the bookie aswell as the punter.

So basically you can create odds yourself and allow other punters to back the odds you have offered.

So laying means you are basically backing something to loose, meaning your offering them odds you have highlighted in pink for other punters to back.

Backing is in blue and is when you are the punter and backing something to win.

I hope thats clear

Fuck me, I'm more confused than ever... I think I understand what you're saying though, I guess I need to find another site then. I've never bet on sports in my life, but I just wanted to check the odds on whether Wlad - Haye will go the distance (I'm 100% sure it won't) and what the over/under odds are...

Edit: Hold on a sec, does that mean that I can get 1.1 odds that the fight doesn't go the distance by backing someone elses bet??

Il be honest with you betfair is quite confusing when your first using it, but on average your probably get 15/20% better odds.

If you just want to back sports events its cool, Betfair is a great tool If you basically want to be a bookie.

The guy(s) who own Betfair are raking it in mate, they cant loose there just acting as a sit and take a percentage of all winnings so they basically cant loose!!

But its a good site its got a decent forum on there to for betting advice etc etc.

Just makesure if you want to back stick to blue, but if you did ever make the mistake of laying ( pink) you have to make sure you have the funds available in your account in case you loose.

For example if you layed something at 4/1 for £10, there would have to be £40 in your account so if the selcetion you layed did win at 4/1 you would have to pay the person(s) who backed the event at 4/1 for £10, i hope that makes it alot clearer??