Betting exchange markets: cricket and sports explained

01What is a betting exchange market?

It's one outcome on a fixture, such as India to win, with two sets of prices. Back prices, usually shown in blue, are what you can get if you think it will happen. Lay prices, usually shown in pink, are what you offer if you think it won't. Each price comes with an amount showing how much money is waiting to be matched at that level.

02How do back and lay work in money terms?

• Back ₹100 at 2.50: if the team wins you get ₹250 back, a profit of ₹150. If it doesn't, you lose ₹100.
• Lay ₹100 at 2.50: if the team doesn't win you keep ₹100. If it wins you pay ₹150. That ₹150 is your liability.
• Your liability is held from your balance until the market settles, which is why your available balance drops after a lay.
• The slip always shows your potential profit and your liability before you confirm.

03What does 'matched' and 'unmatched' mean?

If you take a price that's already on offer, your bet matches straight away. If you ask for a better price than anyone is offering, your bet waits as unmatched until another player takes it. You can cancel an unmatched bet, and if the market closes before it matches, the stake is returned. Always check your open bets to see which state you're in.

04Which cricket exchange markets are there?

• Match winner, settled on the official result, with back and lay on each team.
• Toss winner, which closes once the toss happens.
• Session and over markets, quoted as Yes and No runs lines, live only.
• Innings totals (lambi) and player runs or wickets, once the XI is announced.

Indian players often call the two sides lagai (back the favourite) and khai (lay the favourite). It's the same idea. The cricket markets guide covers each type in full.

05What exchange markets are there for other sports?

Football lists 1X2 with back and lay on home, draw and away, plus totals and both teams to score. Tennis lists match winner, set betting and total games. Horse racing uses win and place, and kabaddi shows match winner on days it's listed. All of them sit on the same Wazir Win ID and wallet as cricket.

06Why trade during a match?

Because you can bet both ways, you can back a team before the match and lay it later at a shorter price to lock in a result whichever side wins, or lay it at a longer price to cut a loss. This is called trading out. It only works if the price moved your way, and each new bet is its own position. Nothing about it is risk-free.

07How do you read a market before staking?

• Check you're tapping the blue back column or the pink lay column, as you meant.
• Read the liability on a lay, not just the stake.
• Check whether the market is pre-match or live before comparing it with an earlier price.
• Read the settlement rule, including ties, Super Overs and abandoned matches.
• Screenshot the confirmation and check your history matches once the market settles.

This page won't publish a prediction or a fixed price for any fixture. The price on your slip when the bet matches is the one that counts.