What is a back bet?

When you back a selection, you are betting that a particular outcome will occur. For example, a certain horse to win a race or a football match ending as a draw. You will make a profit if that outcome happens. This is like making a bet with a traditional bookmaker.

For your bet to be accepted, another punter needs to have the opposing view on the event outcome and be prepared to lay your selection at the desired price and odds. This allows a betting exchange to link the opposing bets so that they become matched.

If the odds you want are not available or a betting exchange matches the bet with another punter while you in are the process of submitting your bet, you can request better odds in the hope that another punter accepts your offer.

When you place a back bet, you risk your stake money in return for a chance of getting your stake back plus a return on it. For example, you back a horse to win with a £10 stake at odds of 5.0. If the horse does not win, you would be liable to pay out your £10 stake, which goes to the layer. If the horse wins, your payout is £50 (less commission) — your £10 stake plus £40 profit. The money necessary to honour either side of the bet has already been deposited and so bet settlement is guaranteed.

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