The main feature of the so-called crossed or exchange bets, known in English as a betting exchange, is that instead of betting against the bookmaker, we bet against another player, who will be the one who pays us... or who we pay if the bet goes wrong. This means that, unlike conventional betting where the only option is to bet on an event, we can bet for and against something happening: the back and the lay.
Many people take advantage of cross betting to lay bets against other players, betting that something will not happen. That is the singularity of this betting modality, but the fact of backing something to happen has also its advantages, as among other things, it allows Philippines to obtain higher odds than those offered by the conventional bookmakers for the same result, and it is an essential requirement to get the Greenbook, that situation where no matter what happens, you will obtain profits.
What is the back?
Backing is betting in favor of something happening, that is, supporting a user's proposal in a cross bet. In fact, it is a bet similar to those we make in conventional bookies since when you bet on +2.5 goals or the away team's victory, you bet that it will happen. As we said before, the main difference between backing a cross bet and betting on the same market in a conventional bookmaker is that in the first case, the odds are usually better and that furthermore, you can offer your own odds in favor of something happening.
How to do a back
If you want to bet in favor or "back" a user, what we have to do is select the odds from the blue column, the back odds. When we select this bet, we make a back, that is, we bet in favor of the user's proposal. We can match the odds, but we can also find several columns parallel to the blue one with odds proposed by other players for that same market. Moreover, you can even launch your own back if you don't like the existing odds.
Otherwise, the mechanism is the same as usual. Once we have selected the market where we are going to bet, the bet is transferred to the betting slip where we enter the money we are going to play. As usual, the betting slip will show Philippines the possible winnings we will get if the bet is settled successfully and the money at risk, which in this case will always be the amount wagered.
The Blue team and the White team are playing. The Blues are the clear favorites, and furthermore, the match is taking place in their stadium, so we will bet in favor of the Blue team. We see that in the Blue column, their victory pays out at 1.24$, a favorable odd for us. We click on that market and go to the bet slip, where we enter 5$ in the amount box. The potential profit will be 1.20$ (5x1.24-5) - always offering net profit - and the amount at risk will only be the amount wagered.
If as expected the Blue team wins, we will collect $1.20 in net winnings and also recover the $5 we had bet. However, if there's a surprise and there's a tie or the White team is the winner, the bet is lost, and the $5 at risk goes to the player who bet against the Blue team's victory, that is, who has laid us.
Tips for making a comeback
Actually, making a back bet has no mystery because in practice it is similar to making a conventional bet. The peculiarity between backing an exchange bet and betting on the same market against the house is that the cross bet quote is usually higher. Therefore, it is advisable to compare the quotes of the back and the conventional before betting in order to select the one that can give Philippines the most profits.
We have already seen that backing can help Philippines achieve the Greenbook, for which we will also have to lay bets. Needless to say, we can also make a back bet on an event while it's live, which will facilitate our trading strategy. If you are going to set your own odds, make sure to analyze what other bookies offer and the amount you will lay in order to avoid big losses, although these bets are usually not as complex as lay bets and it is easier to manage our funds.