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Introduction
AnyBetNow powers
a betting exchange system enabling our customers to trade their bets. As in the
traditional bookies, you will be able to back the outcome of a certain event,
but you will also have the opportunity to lay outcomes, which is to back that a
particular participant/result in an event will lose. This is the position
bookmakers take when offering a bet for a punter to back that the participant
will win.
Back / Lay
Let's follow one
Market example (The Euro 2004 Soccer Final) in order to better understand when a
bet should be Backed or when it should be Layed.
If you believe that Charlton will win this game, you should Back
Charlton. On the other side of that bet will be another customer (acting as a
bookmaker would act in traditional betting) willing to Lay Charlton. If
Charlton wins, you (the backer) win the bet and the layer will pay your winnings
based on the agreed odds. If Charlton doesn't win (looses or draw), the layer
keeps your stake.
If you believe that Charlton will not win the game you should Lay
Charlton (or Back the other possible outcomes: Chelsea to win and/or
Draw).
If you want to Back Charlton, but you believe that the Draw is a very
possible outcome, you could only choose to Lay Chelsea.
The Market's
odds
On the left side
of the Market table you have the most favorable odds to Back each
possible outcome of the event and on the right side you have the most favorable
odds to Lay it.
The odds displayed in the Back side of the table were placed by customers
who wished to Lay the respective outcome and are waiting for other
customers to Back them at the proposed odds (when a customer backs the
outcome that another user laid, a bet is matched and closed).
The odds displayed in the Lay side of the table were placed by customers
who wished to Back the respective outcome and are waiting for other
customers to Lay them at the proposed odds (when a customer lays the
outcome that another user backed, a bet is matched and closed).
Let's see one example. If you believe that Chelsea will win the game, you could
Back Chelsea. However, if you don't agree with the odds available in the
market, you can Back Chelsea at higher odds than the highest available on
the Market table.
If you place, for example, a $500 bet at 9.00 odds, your bet will be placed in
the Lay side of the Market table and not on the Back side. This is
because your bet will be waiting for another costumer to Lay it.
The Market's
liquidity
If the amount
that you want to bet in a certain outcome is superior to the amount available to
bet for the highest odds, you have two options to place your bet.
You want to Back Chelsea with a $200 bet. However, the highest odd (7.90)
only has $131 available to bet. Because of that limit, you can choose (1.) to
place a $200 bet at 7.80 odds (with $500 available to bet, for example) or you
can choose (2.) to place the $200 in a bet with the odds at 7.90.
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In the first case, AnyBetNow's Market will
first, according to its policies ("Best-Execution Policy"), match the
bet at the highest odds available. So, your $200 bet will be split in a $131
bet at 7.90 odds and in a $69 bet at 7.80 odds.
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In the second case, your bet will partially
match with the available $131 and the remaining $69 will be placed in the Lay
side (right side) of the Market table waiting for someone to Lay it.
If your issue is not addressed
in our web site, please
contact us anytime. We would love to
assists you.
What is a betting exchange?
A bet exchange
or p2p (player to player) exchange is a fairly recent Internet phenomenon, and
is used to describe a web site acting as a broker between parties for the
placement of bets. The concept is similar to that of a stock exchange or a
currency exchange, where in this case the commodity being traded is a bet,
rather than a stock or currency.
Gamblers whose betting activities have traditionally been restricted by
bookmakers (normally for winning too much money) have found these sites a boon
since they are now able to place bets of unrestricted size, providing always of
course that there is someone available to match them. These exchanges also offer
the opportunity to lay outcomes, which is to back that a particular participant
in an event will lose. This is the position bookmakers take when offering a bet
for somebody to back that the participant will win.
For example, if you think Team A will win a competition, you may wish to back
that selection. A bookmaker will lay that selection. you will agree with the
backer's stake and the odds. If the team loses, the layer or bookmaker keeps the
backer's stake. If the team wins, the layer will pay the backer winnings based
on the odds agreed.
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What is the AnyBetNow's time?
AnyBetNow time is
considered to be GMT / UTC time. All the events will display the Greenwich Mean
Time. It's up to the costumer to convert AnyBetNow's time to the relevant time
zone.
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When should I Back an outcome?
You should Back
an outcome when you believe it will win. Backing an outcome is what punters do
in traditional sportbooks. For example, if Team A is playing against Team B and
you believe that Team A will win the game, you should Back Team A. Remember that
if you place a bet to Back a specific selection your bet will be shown in the
Lay side of the Market because it will wait for another costumer to Lay it (bet
against your selection).
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When should I Lay an outcome?
You should Lay
an outcome when you believe it will not win. Backing an outcome is what
sportbooks do in traditional bets. For example, if Team A is playing against
Team B and you believe that Team B will not win the game (Team B will loose or
draw), you should Lay Team B. Remember that if you place a bet to Lay a specific
selection your bet will be shown in the Back side of the Market because it will
wait for another costumer to Back it.
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Why do I pay
processing fees on some of my deposits and withdraws?
We offer better
odds to its users than traditional bookmakers and one of the ways we achieve
this is by passing on the cost of processing transactions. Where fees are
charged, this will be shown when you process the transaction. You should be
aware that in some countries some of the transactions fees are even higher than
the low commission that we charge in your bets (and we don't charge you if you
don't win!). On those cases, our commission (whether you win or loose) wouldn't
be enough to support the transaction costs by ourselves. The costumer support of
the processing transaction costs is one particularity of all the betting
exchanges.
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How does the
Betting Exchange guarantee the safety of my deposits and winnings?
Unlike
traditional bookmaking systems, a betting exchanges systems have the money for
both sides of every bet on deposit. So, whenever a bet is placed we retain the
amount needed from the costumer's account to fulfill the bet's obligations.
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What is the "Best-Execution Policy"?
Anybetnow.com
will attempt to match your placed bets so that you will receive either the odds
that you have requested or better odds, to your advantage, without increasing
your exposure, when they are available upon your bet is placed.
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