‘Backing a team to win’ is a common term used in betting. In the olden times, only this kind of betting used to take place. Traditionally, a bookmaker was involved in such type of a betting process. Actually, he/she was the one to carry out the whole transaction for you. It is here that these bookmakers tried their best to deceive the innocent people. Now is the time, when everything is done without any hassles over the Internet. There are plenty of online betting exchange sites that allow you to indulge in bet exchanging and change your destiny. Bookmakers are now out of the scene and that is a plus point for bettors.
In simple terms, backing can be defined as the act of making your selection and betting on it. When you back a team to win, you place your bet predicting that your chosen horse will win in the race. You can place bet on other sports as well. The main thing to be emphasized here is that you predict the outcome of the game as to who will be the winner and place bet on it. When you exchange bets, you have the liberty to demand a higher price. For doing this, all you need to do is simply click on the back button and fill the figure of your choice. Once you have entered the figure revealing your bet, it will then shift to the lay section. If your bet price matches with the laying price of other bettor, your bet will be placed. In other case, if there is nobody to lay your selection, then you will have to either lower down your bet price or take what has been offered. It all depends on how enthusiastic you are and how you perceive things.
Let us try to understand the above mentioned concept with the help of an example. Let us suppose that the best offer in the market for draw at France vs Italy is 2.80. At this point of time, you need to go through betting exchange rates. Let us consider that you succeed in finding an odd bet of 2.90. Now this kind of a bet can certainly be considered and you can think of backing or buying the bet. The procedure is almost similar to what was practiced earlier when bookmakers were involved.
In case it happens that you select an event, make selection, place bet and make a clear cut mention of your stake but are not satisfied with the final result, then you have the option of back order available with you. Let us consider for a while that you are happy with the available odds and your desire is to bet at odds 3.10, then you can place the order for backing at 3.10 by putting 100 pounds on stake. In this situation, you will have to wait for the time till you succeed in finding a punter who is ready to draw the match at 3.10 by laying 100 pounds. If someone is ready to match your bet deal then your bet can be placed. If you find a bettor who is ready to put 30 pounds on stake at 3.10, then for the left 70 pounds, you need to look for another bookmaker who can lay bet at 3.10. This is how backing is done.