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Being a Layer is a new thing for a lot of people and sometimes a difficult concept to grasp. However it's the exact opposite of Backing. Let me also briefly explain very simple math for both features of the betting exchange: BACK When you Back, you will win if the result that you Backed happens. Winnings depend on the size of your deposit and the price you bet: Back Winnings = (Price – 1) * Your Stake When you Back, you’ll lose if the result doesn’t happen: Back Loss = Your Stake LAY When you Lay, you’ll win if the result doesn’t happen. Your winnings depend on the Backer’s stake (the amount you wish to Lay). Lay Winnings = Backers Stake When you Lay, you’ll lose if the result you have Layed happens. Loss depends on the size of your deposit and the price you had bet. Lay Loss = (Price – 1) * Your Deposit Maybe you feel that this information is constantly repeated. However, you cannot successfully make money by trading bets on a betting exchange unless you fully understand the basic concepts. You don’t need to calculate these things when trading; the software does it for you. You just need to understand what really happens with your orders on the betting exchange. In the next chapter we’ll look at the principle of trading itself and a way on how to ensure a win, whatever the result of a sporting event. < PREV | HOME | NEXT >