Basics of the Exchange

[mpq114]

Hello everybody.


Im decided to learn how to trade, and I need to learn the basics of how betfair exchange works:


- Back and lay, if price rise should I back or lay?

- What is the meaning of the ammount of money in each side of the book?

For example, on the left of 3.5 (backing I guess) there is 301€. What does that mean? Is the total money that people put in that price? On the other side, laying at 3.55 there is 302€. How those two things are connected?

If somebody knows some documents, videos or whatever to introduce me into this, I would be very grateful. I've seen a few of Peter's videos but didnt saw anything related with the basics of betfair exchange.

Thank you and sorry about my english!

[ShaunWhite]

A sports exchange is just like any other market I'm sure you already understand. Instead of 'lay' think of that as 'buy' and instead of 'back' think of that as 'sell'. The aim is to buy low and sell high, or you can sell high and then buy back low. When you watch the ladder you can see the price moving up and down in response to supply and demand. By backing and laying (Eg buying and selling) before the race starts then you can secure a profit (or loss) no matter what the price eventually moves to when the race goes in-play.

The number next to the price(odds) is the total amount people want to bet at that price point. Eg if I ask to lay £100 at 2 and the market is at 3, then my £100 will show up next to the 2. This is known as the 'unmatched money'. The number in the righthand column is the amount that has already been traded at that price (ie the matched money').

[Emmson]

Before you learn about trading software mpq114 I would pore through all the content here.

https://betting.betfair.com/how-to-use- ... 19-51.html

and then move onto the content here.

https://online.betangelacademy.com/