If you’ve just started betting on Lords Exchange, you already know the basics — pick a team, place a bet, hope it wins. But that’s only half of what this platform was built for. Lords Exchange is not a regular bookmaker where you can only bet on something to happen. It’s a full exchange betting system, which means you can also bet against an outcome — just like a bookmaker does.

That’s where the real power (and profit potential) starts.

This guide is written for beginners who want to understand how odds work, what Back and Lay mean, how profit and liability are calculated, and how to stop betting blindly and start betting strategically.

By the end of this article, you’ll understand how to read odds, how to trade them, and how experienced bettors make money even when they don’t know who will win.

Let’s begin.

What Is Exchange Betting?

On most betting apps, you only have one option:

Bet for something to happen (Team A wins, Player scores, Over 150 runs, etc.)

That’s called bookmaker-style betting — you bet against the company.

But Lords Exchange is different. It’s a peer-to-peer betting exchange, meaning:

 You don’t bet against the platform
 You bet against other users
 The odds are created by the market, not a sportsbook
 You can choose to be a bettor (Back) or a bookmaker (Lay)

This gives users more control, better odds, and a chance to trade the market instead of just predicting outcomes.

What Does “Back” Mean?

A Back bet is the traditional bet — you want something to happen.

Examples:

·       Back India to win the match

·       Back over 6.5 goals

·       Back Virat Kohli to score 50+ runs

If your prediction is correct, you win. If not, you lose your stake.

 Back Bet Profit Formula

Profit = (Stake × Odds) – Stake

Example:

·       Odds: 2.50

·       Stake: ₹1,000

·       If you win → (1000 × 2.50) – 1000 = ₹1,500 profit

Simple, right?

That’s why beginners start with Back bets — easy to understand, low risk, fixed stake.

What Does “Lay” Mean?

A Lay bet is the opposite of Back.

Instead of betting for, you’re betting against an outcome.

Examples:

·       Lay India to win (you profit if India loses or draws)

·       Lay a batsman to score 50 (you profit if he scores less)

·       Lay Team A at odds 3.0 (you profit if they don’t win)

When you Lay, you act like the bookmaker.
You’re offering odds to others, and you profit if they are wrong.

But here’s the part beginners must understand: