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because Betfair is an exchange there are two types of bets that can be placed you can either back or lay a selection a back bet is betting for a selection winning whereas a lay bet is betting against a selection winning in order for you to have a bet on bet fair there must be both a backer and a layer at the same price when this happens it means the betters being matched lets see how this works in practice in this premiership match between Newcastle and Tottenham we think Newcastle will win the game therefore we will back Newcastle to win at 2.68 by clicking on the blue box next to Newcastle by doing this we add the selection to our bet slip we now need to decide how much we wish to bet and enter it in the stake box as we can see this 10 pounds back bet of 2.68 will return us a profit of 16 pounds 80 plus our original 10 pound stake should Newcastle win however should Newcastle draw or lose and our ten pound stake would be lost confidence with our bets we click place bets and confirm