How to put a back bet on Orbit Exchange?
The simplest sort of wager is back betting. When you bet money on something happening, you win if it happens. It’s just as simple to place a back bet with the Exchange as it is with any other online bookmaker, and it’s typically a better choice because the Betfair Exchange typically offers higher odds.
ON THE BETFAIR EXCHANGE, BACK BETTING IS EASY
Many believe that because Betfair Exchange offers users new betting options, it should be approached with caution.
Although the Exchange operates on a different concept than other bookies (as you can read here), it is actually incredibly simple to use and can be done in the same manner as placing any other wager. And the best illustration is back betting.
At 15.45 at Wetherby, let’s imagine you wish to back a horse. Simply select the desired race from the list that appears after clicking the Horse Racing icon in the top menu to enter the market. The following section terrifies many individuals for two reasons:
- Instead of the fractions you’re used to seeing with traditional “sportsbook” bookies, odds are expressed in decimals.
- Each choice has two odds columns next to it; one is blue and the other is pink. There are additional white columns on either side of those if you’re using the Exchange on a desktop. If you don’t want to view the columns, switch off market depth under “Settings,” which is located in the top-right corner of your screen (find it in the A-Z menu on mobile).
Decimal odds are simple to understand, despite the fact that you might not be used to seeing them, as you can see in our guide here. In fact, once you understand how they operate, you’ll find that they’re frequently far simpler to utilize than fractional odds, especially when working with shorter pricing. Because of this, the majority of sportsbooks currently provide decimal odds on select markets, and they typically permit you to flip completely between the two.
The columns, on the other hand, are exclusive to exchange sites because they depict two markets that coexist side by side: the “lay” market and the “back” market. As previously discussed, a back bet is a wager on something occurring, whereas a lay bet is a wager on it not occurring. This is essentially the Exchange’s guiding idea.
However, if you don’t want to, there is absolutely no requirement that you ever put a lay bet. In fact, if you like, you may even disable the lay columns.
Are larger wagers placed at a better price?
You’ll see that a dollar number is listed in tiny language beneath every price on the Exchange. This displays the maximum amount of money you can wager on that wager at the specified odds. Let’s imagine, for illustration purposes, that your horse has a value of £30 displayed beneath its 8.5 odds in the blue column. This means that starting with a minimum bet of £2, you can wager up to £30 on your horse to win.
But let’s assume you want to wager £50 on that horse because you feel secure. It’s likely that you will be able to wager the whole £50, but you may have to wait for your unmatched amount to be matched or accept a lower price on the remaining £20 of your wager. On the desktop version of the Exchange, you’ll notice additional white columns on either side of the blue and pink ones that show how much can be wagered at unfavorable odds (remember, you can turn off market depth in ‘settings’).
You can now choose. One can:
- Bet the first £30 at 8.0 and the further £20 on your horse at the next best odds available. Accept the best odds listed in the blue column.
- Bet your initial £20 at 8.0 odds, then wait to see if your subsequent £20 is “matched” at 8.0 odds.
- Determine your preferred odds and see if anyone will match them. Discover how to accomplish it here.
- Accept your horse’s Betfair starting price, or BSP. You must enable BSP under “Settings” if you can’t already see the option. You won’t be aware of the Betfair SP prior to the start of the race, just like with any other bookmaker. However, if you believe that the odds for your horse may fluctuate before the race and you don’t want to miss placing your wager, this may be the best course of action.
Placing Back Bets on Orbit Exchange FAQs
1)Is Back-Betting simple?
The Exchange is incredibly easy to use and can be done in the same way as putting any other wager while operating on a different principle than other bookies. Back betting is the best example.
2)Are decimal odds a complicated topic?
Despite the fact that you might not be used to viewing them, decimal odds are straightforward to comprehend, as you can see in our guide here. In fact, once you understand how they work, you’ll discover that they’re frequently far easier to use than fractional odds, particularly when dealing with shorter pricing. Due to this, the majority of sportsbooks now provide decimal odds on a few markets, and you can frequently go back and forth completely between the two.
3)What’s the guiding idea of Orbit Exchange?
A back bet is a betting on something happening, whereas a lay bet is a wager on it not happening, as was previously discussed. In essence, this is the Exchange’s guiding idea.