Yes, you can back (place a bet in favor of a specific outcome) on the Betdaq betting exchange, just as you can on other betting exchanges like Betfair. Betdaq offers both “back” and “lay” betting options, allowing users to either bet for an outcome to occur (backing) or bet against an outcome to occur (laying).
Here’s how backing works on Betdaq:
- Select Your Market: Choose the sports event and market you want to bet on. For example, you might select a football match and the “Match Odds” market.
- Choose Your Selection: Within the market, select the team or outcome you want to back.
- Enter Your Stake: Specify the amount you want to bet on that selection.
- Place Your Bet: Confirm your bet, and your bet will be placed on the selected outcome at the available odds.
If your backed selection wins, you’ll make a profit based on the odds you secured when you placed your bet. If your selection loses, you’ll lose your stake.
Betdaq, like other betting exchanges, provides a platform where users can both back and lay bets, allowing for a wide range of betting strategies and opportunities. Remember that the odds on a betting exchange are determined by the market’s supply and demand, and they can fluctuate based on how other users are betting on the same event.