How to Play on Betting Exchange Sample Clauses

How to Play on Betting Exchange. There are 2 types of bets on the exchange: back bets on the blue field and lay bets on the green field. Back bets are similar to placing a bet at a bookmaker and players' liabilities are equal to their stakes. A back bet will win when the outcome you bet for happens. Lay bets are similar to acting as a bookmaker. A lay bet wins when the outcome does not happen. Liabilities for lay bets are calculated using the following formula: Liabilities = Stake amount × (Lay odds - 1). In this case, with the outcome not happening, the layer will receive the backers’ stake as winnings. Unmatched bets can be changed or canceled by the customers who placed them. Сhanged bets are then placed at the end of the queue to be matched. Bets can be partially matched if there are opposite bets for lower amounts available.
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