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On betfair there is this betting exchange on their platform which gives u a guarantee way of making profit. I mean u will play games that no matter what they play u must win, with back and lay bet.
Back bet means something to happen. for example u give man utd win they must win for u to win. that's back bet.
Lay bet means something not to happen.. If u lay man utd means they should not win the match is either they lose or to draw

Lieutcarl:
On betfair there is this betting exchange on their platform which gives u a guarantee way of making profit. I mean u will play games that no matter what they play u must win, with back and lay bet.
Back bet means something to happen. for example u give man utd win they must win for u to win. that's back bet.
Lay bet means something not to happen.. If u lay man utd means they should not win the match is either they lose or to draw

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Lieutcarl:
On betfair there is this betting exchange on their platform which gives u a guarantee way of making profit. I mean u will play games that no matter what they play u must win, with back and lay bet.
Back bet means something to happen. for example u give man utd win they must win for u to win. that's back bet.
Lay bet means something not to happen.. If u lay man utd means they should not win the match is either they lose or to draw

Actually, you are not entirely correct.

As far as backing is concerned, you are correct.

But for laying, you are not right. You need to look at laying in a different light because that is the whole essence of the advantage of an exchange over a bookmaker.

By laying, you are simply saying that those who back Man Utd to win will lose their bets. By laying you are essentially counter betting those who back a bet.

If you look at it well, you will notice that the way your returns for laying are calculated is completely different from how it is calculated if you are backing.