Back bet for football betting

How does it work to place a back-bet at a betting exchange like betfair?

Explanation of the term BACK-BET:

Traditionally a BACK-bet is the only bet offered by common online bookmakers

Back a team, horse, result or any other outcome means to bet ON that selection to WIN

The exact contrary is a LAY-Bet – to bet AGAINST that selection to win – this option is only offered by betting exchanges

 

As you can see from the sceen down:

• Back bets (bet ON something) are shown in BLUE coloured column
• Lay bets (bet AGAINST something) are shown in PINK coloured column
• Click on the Back-bet of your choice (e.g. bet ON ManU @ odd of 4.5)
• Your personal betting slip will show your choice (see at the right side of the screen)
• Enter your stake and submit your bet (your potential profit appears on the right side)
• ATTENTION: you are able to enter your OWN odd at betting exchanges – but be aware that YOUR odd has to match to layers odd to be confirmed

 

 

Explanation of Screen:

>> RED Box = 1×2 all Back-bets

>> bet on Manchester – click 4.5 odd

>> Insert stake of 10 (right) – see potential profit of 35

>> possible loss (if ManU loses) = 10 – if a draw or Chelsea wins

>> ManU win = 35 profit

 

Find the contrary here – LAY bet

 

Combine a Back- and a Lay bet – hence, hedge your bets