To 'back' a selection in a market is to place a bet for something to happen. This is like a bet that you would place with a traditional bookmaker.
To 'lay' a selection in a market is to place a bet for something NOT to happen, or in other words, bet against something happening.
In the example below if you 'back' Barcelona, you are placing a bet on Barcelona to win the match.
If you 'lay' Barcelona, you are placing a bet that Barcelona will not win the match. In this instance you will win your bet if Bayern Munich win the match, or the match ends in a draw.
"Lay" bets work differently to “Back” bets. When laying a team you play the part of the traditional bookmaker. If your bet doesn’t work out as planned, you need to payout as a traditional bookmaker would.
If you lay Barcelona for €100 (Backers Stake in the image) at odds of 2.0, you need €100 to cover the potential pay out if Barcelona wins the game. This is your liability on the bet.
Similarly if you lay Barcelona for €100 at odds of 2.1, you need €110 to cover the potential pay out.
In both cases you can only win the ‘Backers Stake’ of €100.
It’s important to be aware that your liability can exceed your potential winnings.
For example, laying Barcelona for €100 at odds of 2.1 means your liability is greater than your stake.
Odds Types
You can display odds on Matchbook in the following formats:
- US Odds
- Decimal Odds
- Hong Kong Odds
- Malaysian Odds
- Indonesian Odds
- % Odds
The Matchbook odds ladder is based on the US odds format. If you are playing in any other format your odds will be rounded to the nearest point on the US odds ladder.
Odds Explained
US Odds
US Odds are indicated with either a + sign, or a - sign.
If the odds have a + sign, it shows you how much you would win for a 100 stake.
If the odds have a - sign, it shows you how much you need to stake to win 100.
If the odds have a + sign, it shows you how much you would win for a 100 stake.
If the odds have a - sign, it shows you how much you need to stake to win 100.
Example:
If you bet €100 at +500 you will win €500, with your stake also returned
If you bet €500 at -500 you will win €100, with your stake also returned.
If you bet €500 at -500 you will win €100, with your stake also returned.
Decimal Odds
Decimal odds are displayed inclusive of your stake; so, to calculate your return (including stake) you simply multiply your stake by your odds.
Example:
Betting €100 at 6.0 returns €600 (€500 winnings + €100 stake)
Betting €500 at 1.2 returns €600 (€100 winnings + €500 stake)
Betting €500 at 1.2 returns €600 (€100 winnings + €500 stake)
Hong Kong Odds
Hong Kong odds are similar to decimals but do not include your stake. To calculate your winnings, you simpy multiply the HK odds by your stake.
Example:
If you bet €100 at 5.0 you will win €500, with your stake also returned.
If you bet €500 at 0.2 you will win €100, with your stake also returned.
If you bet €500 at 0.2 you will win €100, with your stake also returned.
Malaysian Odds
Malaysian odds are indicated with either a + sign, or a - sign and are expressed in decimals.
If the odds have a + sign, you simply multiple your stake by your odds to calculate your winnings.
If the odds have a - sign, you multiply your stake by 1/odds to calculate your winnings.
Note, you ignore the negative sign in the calculations
If the odds have a + sign, you simply multiple your stake by your odds to calculate your winnings.
If the odds have a - sign, you multiply your stake by 1/odds to calculate your winnings.
Note, you ignore the negative sign in the calculations
Example:
If you bet €100 at -0.20 you will win 100 x 1/0.20 = €500, with your stake also returned.
If you bet €500 at +0.20 you will win 500 x .2 = €100, with your stake also returned.
If you bet €500 at +0.20 you will win 500 x .2 = €100, with your stake also returned.
Indonesian Odds
Indonesian odds are just like US odds, just divided by 100.
If the odds have a + sign, it shows you how much you would win for a 1 unit stake.
If the odds have a - sign, it shows you how much you need to stake to win 1 unit.
If the odds have a + sign, it shows you how much you would win for a 1 unit stake.
If the odds have a - sign, it shows you how much you need to stake to win 1 unit.
Example:
If you bet €100 at +5.0 you will win €500, with your stake also returned.
If you bet €500 at -5.0 you will win €100, with your stake also returned.
If you bet €500 at -5.0 you will win €100, with your stake also returned.
% Odds
% odds are a representation of the chance your bet has of being successful. These can be converted to decimal odds using the simple formula below.
100 / % chance = decimal odds
100 / % chance = decimal odds
Example
If a bet has a 50% chance of winning then the odds are 100/50 = 2.0
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