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Cricketbet9 Com Id: Race Betting Terms
The Fundamentals
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Bookmaker (book, bookie, sportsbook, betting agency) – a company that provides betting odds and accepts wagers.
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Betting Exchange – a service that provides a marketplace for setting odds. Clients can either back a bet at the current odds or lay a bet and take on the role of the bookmaker.
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Back – wager that an event will occur. If you wager on Arsenal to beat Chelsea, you are supporting Arsenal.
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Lay – wager that an event will not occur. You could, for example, gamble against Hay List to win a race. Your lay bet wins if no one else wins and loses if Hay List wins. In contrast to back bets, you double your money (minus commissions) if you are correct and must pay out at the specified odds if you are incorrect. As a result, when you place a lay bet, you are effectively playing the job of the bookmaker.
