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Matched bettingMatched betting basicsBack and lay bettingExchanges and liabilityComplete your first offerUnderstanding 2Up alerts
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Matched betting·2 min read

Exchanges and liability

An exchange lets you bet against other customers. If you're laying, the two things to watch are your liability and whether the bet is matched.

How much money do you need?

Liability = lay stake × (lay odds − 1). A £10 lay at 4.00 needs £30 liability. You lose £30 if the selection wins, or win £10 before commission if it doesn't.

The exchange holds that money while the bet is open. It isn't a loss yet. If you have several bets in the same market, check the exchange's own breakdown of what you could win or lose.

Is the lay matched?

  • Fully matched: the whole stake has been accepted at the recorded odds.
  • Partly matched: some has been accepted. The rest may still be waiting.
  • Unmatched: none has been accepted yet.

If you try to lay £10 and only £6 matches, the other £4 isn't covering your back bet yet. It could still match later. If you're replacing it, check and cancel the outstanding part first, then confirm it's cancelled. Include the £6 already matched in your new calculation.

More detail: Betfair's matched and unmatched orders.

Money available at the price

The amount beside the exchange odds is the stake available to match at that price. It isn't your liability, and it can change quickly. Check both your available balance and the stake that actually matched.

Commission

Use the rate on your own account. Exchanges normally charge it on net winnings in a market. If you have several bets in that market, the fee can differ from a single-bet example. See Betfair's charges.

Next: Back and lay betting.