Hey BetBTC,
I'm having a problem understanding exchange, please take a look at this.
ATP: Djokovic v Goffin
Set Betting
N Djokovic 2 - 0
BACK: 1.33
LAY: 1.4
Goffin 2 - 1
BACK: 17.5
LAY: 22
I fully understand how to "BACK", but I'm having problem how to "LAY".
Let say I want to lay N Djokovic 2 - 0 @ 1.4 and I press on box "LAY" in red.
Now I saw odd @ 1.4 and Stake 0.001 and the Liability: 0.0004, at this point I got confused.
I understand "LAY" is like you're the sportsbook, and now let say I have 10 BTC to risk. Can I put in 10 BTC in the stake box, and if I win. How much will I receive?
Also, what is Liability of 0.0004?
To lay bet at 1.4 with the stake 0.001, in case of lost you would have to pay 0.0004 to the winner (the winner betted back 0.001 at 1.4 and received 0.0004 - your loss)
When you lay bet, the required balance (liability) is not the same as stake amount except when odd is 2.0. When lay odd is below than 2.0 you can bet a stake higher than your balance and when odd is higher than 2.0 you would require higher balance to cover a smaller stake.
To check more instructions about how back and lay betting works you may check this video we produced -
https://www.youtube.com/watch?v=32qxAOyVZlU