12BET Exchange gives you the flexibility to back or lay on sports events from across the globe. Unlike traditional sportsbook you can place back bets at higher odds or lay at lower odds than the market and wait for other players to accept your bets.
Back betting is what you might have done with Bookmakers, and is essentially the punters traditional style of betting. Back betting is betting on an outcome to happen.
When placing a lay bet you are betting for an outcome not to happen and playing the role of the bookmaker.
When laying a bet, you can only win the other person's stake.
In Exchange Live betting is noted as In- play betting.
Your liability is the amount you could loss in your worst-case scenario. When backing it's simply the stake which you place. When laying however it's the amount it will cost you if your selection wins. Either way, it is how much you are risking.
One thing's certain though, will only let you risk as much as is in your 12BET account. You can see what’s your liability or how much you have bet on 12Exchange under Exposure.
INR : In the exchange we use Points to place the bet.
1Point = INR 100
Example: If you transfer INR 5,000 in exchange, you will see 500 Points in your Exchange account.
The minimum bet in the exchange is 8 Points.
USD: For members using USD, there will be no difference in the transferred amount.
Always remember: Blue means “Back” & Pink means “Lay”
To Back a bet type you need to select the blue ‘Back’ odds. This will open the betslip where you can choose which odds you wish to back, and your stake.
If you wish to lay a selection, select the pink ‘Lay’ odds, where the betslip will open and ask you to choose which odds you wish to lay your selections at, as well as the stake you wish to lay. Do note that if you are laying selections at higher odds than even money, you will risk more than your input into the stake box.
Yes, you can back and lay as many times as you wish.
Yes, if your back or lay bets are unmatched (ie, no one has laid a price that you have backed at higher odds than the current market, or no one has backed a price that you have laid at lower odds than the current market}, then you can cancel the bet through the betslip.
Please note that all winning bets on 12BET Exchange are subjected to a 3% commission on winnings.
Please click here to view it.
In 12BET Exchange you can not only “BACK” bets (same as placing bets in our Sportsbook) But also you can “LAY” bets requested by other players. Always remember: Blue means “Back” & Pink means “Lay”
If you are ‘backing’ a bet, it means that you are betting FOR the event to happen. Take this example here:
3 blue odds & 3 pink odds will always display the 3 best back & lay odds respectively.
The odds in BLUE are the BACK odds and indicate what you can currently bet on, and the maximum bet you can place is the figure you see underneath the odds, in this case $595,
if you were betting on New Zealand. You can bet any amount up to $595 at odds of 2.70, and your bet will be accepted.
If I place the above bet, if the selection wins, I will receive returns of $540, and make a profit of $340. However, do note that commission rates apply to winnings, so your net profit will be slightly lower.
However, if you wanted to, you could actually request a bigger price. Let’s say you want to back New Zealand at 2.80 odds. You can input 2.80 into the betslip and place the bet.
Note though, when this happens, your bet is not automatically accepted. Someone else will need to ‘lay’ your bet for the bet to be ‘matched’ or accepted. If no one lays the bet, then it will not be accepted.
Rather than backing selections, some players will choose to ‘lay’ selections, or accept bets that other players are requesting.
Here, you can see that 2.72 (the first number in pink) is the ‘lay’ price for New Zealand. What this means is that another player, or other players, have requested that they want to back
at odds of 2.72. If you wanted to ‘lay’ this bet, then you are accepting the bet, much like a sportsbook does. The amount underneath the odds reflects the total amount that other
players are wanting to back New Zealand. In this case, it is $827.
In the above screenshot, I am laying $100 at odds of 2.72. If New Zealand do not win, then my profit is $100, if New Zealand win the match, I will lose $172. Do note though that commission rates apply to any winnings, which means your net profit will be slightly lower.
If, however, you feel the odds are too high, and you will want to lay this selection at smaller odds, that is also possible. Another player must back your bet for it to be matched and accepted.
When you lay a selection that is lower than the current lay price, it gets added to the total amount that is already there. For example, if we started with this market:
And now I lay $7969 @ 1.58 odds like this:
Then this amount will be added to the ‘Back’ odds of 1.58. See how it went from $2110 to $10,079:
- This Exchange Rules shall govern the administration of all trading and betting activities in the Exchange markets. This Exchange Rules should be read in relation to the rules applicable to specific bet types, events and markets. The rules of the Company which are applicable to specific bet types, events and markets shall govern in cases not provided by this Exchange Rules.
- All offers and bets placed in the Exchange are placed solely at the customer's risk. The Company will provide fair betting markets to customers and with market conditions that reflect the true nature of the betting market at any point in time.
- The Company reserves the right to amend this Exchange Rules at any time. Any amendment will be binding upon the customer and shall be effective immediately upon posting in the website.
- The Exchange shall accept offers and bets on American Football, Basketball, Cricket, Horse Racing, Rugby Union, Soccer and Tennis. The Company reserves the right to add, deduct or modify the sporting events to be covered by the Exchange.
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- In order to commence trading, a customer must first make an offer on any event listed in the Exchange stating the terms on which he wishes to transact: event, the selection, outcome, the bet placed and the minimum price the customer is willing to accept.
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- The winner of an event is determined at the conclusion of the event for purposes of settlement of the winning bets regardless of the subsequent reversal of decision or the result of any protest or appeal.
- For Limited Over (including ODI and Twenty20) matches, all bets will be settled based on the official result according to the competition rules. If the result is determined by super-overs, bowl out, toss of coin, etc., then all bets on match winner markets will be considered void.
- If “No Result” is the official result or the competition rules do not declare a winner, then all bets on match winner markets will be void. The results of other markets may still be valid if the result has been unconditionally determined.
- If a match is postponed or suspended then all bets are considered valid if the match is resumed within forty-eight (48) hours from the postponement or suspension.
- Test Match markets will be offered in a 1X2 format. “1” refers to the team that is named first (usually the home team), “X” refers to the game resulting in a draw and “2” refers to the team that is named second (usually the away team). Should a Test Match end in a “Tie” (as distinct from a “Draw”) then all match bets will be considered void. If a match is abandoned due to outside interference then all bets may be declared void.
- Whenever the scheduled play time of matches is different from the regular time (e.g. special time periods of play on various tournaments, youth leagues, youth tournaments, reserve team, or friendly matches) all bets will be settled at the end of that scheduled time.
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- Unless non-regular time matches are expressly indicated on the website prior to all soccer matches, bets taken on such matches will be considered void.
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- For Live Betting, excluding the last 2 minutes of Specific 15-Minutes O/U, Specific 10-Minutes O/U and Specific 15-Minutes HDP, pending bets will be rejected when goal is scored. Pending bets will be accepted when the penalty missed is and is in a safe area.
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- Whenever a horse is withdrawn from a race before or after coming under starter’s orders (or if one or more of the starting gates do not open preventing a fair start) the horse shall be deemed to be a non-runner/scratched and the bets wagered on that horse will be refunded.
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- The result of a race shall be official when the “all clear” or “weighed in” is declared by the racetrack and the “official result” is declared by the operator.
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- Bets will not be considered void in case there is a conflict in the writing of the runner’s name. Any discrepancy between the runner’s name and the runner’s number or in cases where the names are stated incorrectly or wrongfully stated in reverse, the runner’s number indicated during the race while running will prevail. The result of a race shall be determined based on the runner’s number
- In case the horse name and horse number are translated into any other language, the English version will prevail.