Exchange screens are packed with words that sportsbook players rarely meet. These definitions are general betting vocabulary, written so that Baji's back and lay markets make sense before you stake anything.
Baji says its exchange lets users back or lay outcomes. The definitions here describe how those words are used across exchanges generally. Baji's own commission, limits and settlement rules are not described, so check the terms inside your account whenever a detail could cost you money.
The words fall into three groups, which makes them easier to remember.
Back, lay, stake and price describe what you are betting and at what odds.
Liability, exposure and matched or unmatched status describe how much you could lose.
Settlement, void and in-play describe when and how a result is applied.
The core words you will meet on any back and lay screen.
A bet that an outcome will happen. Your risk is the stake you place.
A bet that an outcome will not happen. You take another user's stake if you are right.
The amount you put at risk on a back bet.
The number that sets what a winning bet pays relative to the stake.
One bettable question in an event, such as who wins the match.
These words matter once you start laying or betting in play.
The amount you can lose on a lay bet, which rises as the price rises.
A bet that has been taken by another user. Until it is, it is unmatched and may not be active.
A charge many exchanges take from net winnings. Baji's rate is not confirmed in the pages used here.
Betting while an event is underway, when prices can change in seconds.
The moment a market closes and winnings and losses are applied to accounts.
These examples use abstract units instead of real money, so only the logic carries over.
You back a team with a stake of 10 units at a price of 2.0. If it wins you receive 20 units back in total. If it loses, you lose the 10.
You lay the same team for 10 units at a price of 3.0. If it loses, you keep the 10. If it wins, you pay 20 units, which is your liability.
A lay bet wins small and can lose big, so look at liability and not only at stake.
If Baji's screens use a word you cannot match to these definitions, ask before you stake. Baji says its support runs 24/7 via the chat icon, using Send us a message and your preferred language.
Ask for the rule in writing and keep the reply.
We do not speak for Baji, and its terms always take priority.
Answers to the questions that come up after the definitions.
Usually, yes, because your possible loss can exceed the stake you hope to win.
Back, lay and market are widely shared. Details such as commission differ.
Baji says its exchange lets users back or lay outcomes.
Exchange screens usually show it on the bet slip, but we did not verify how Baji displays it.
Betting report card