Mastering the Game Within The Game. Mastering trading on the Exchange. Think of Betfair as the stock exchange of racing and sport. Because when you can Back and Lay, you can also trade. Trading is when you Back and Lay the same selection at different odds, making it possible to profit regardless of the outcome. It’s just like buying a stock at a low price and selling high. On the Exchange, you can trade by Laying at low odds and then Backing at higher odds or by Backing at high odds and then Laying at lower odds. Just like trading on any market, the key is to predict which direction the market is heading. Say, for example, you think Adelaide will get off to a great start in an AFL season. You Back them at tens before round one and after the Crows win their first few games, the odds shorten to six. You then Lay at the six, locking in a profit regardless of whether they win the premiership or not. This is known as a Back to Lay trade. Or you think the Roosters have a tough draw at the start of the NRL season. You Lay them at 10s before round one. They struggle early and get out to 16 in the market. You could then back at the 16, locking in a profit regardless of the outcome. This is called a Lay to Back trade. You can find out more about trading on the Betfair Hub. Welcome to the Betfair Exchange – a different kind of betting.