# Understanding the Market View

### Below are two examples of markets – one for Racing and one for Sport.

• Best Back Price – this is the best price available for you to place a BACK bet.
• Best Lay Price – this is the best price available for you to place a LAY bet.

### Prices

If your bet size is bigger than the amount available for your selection, you have to either take some at a lower price or ask for someone (a layer) to match the remainder of your bet.

Prices and sums available can change constantly – just because you don’t see enough to match your bet right now doesn’t mean it won’t be matched a few minutes or even seconds later.

What you see on the ‘Back’ side of the market are invitations for you to back a selection at a price – i.e. somebody else wants to lay that bet.

On the lay side, you see invitations for you to lay a selection – somebody else wants to back at that price, and the amount below those odds represents the backers’ stakes lining up – not the risk.

Next Best Prices – these are the prices, and the amounts available for those prices, that are the next best and are waiting to be matched.

### Market Percentage

This represents the combined probabilities (prices) of each possible outcome in the market. A true market is 100%, anything above this number is considered over round or otherwise known as margin.

For example:

In a coin toss, the chances of head or tails landing are both 50%. We find the price of either outcome by dividing the probability by 100.  (100 / 50 = 2).

\$2 represents 50 % of the market.

In horse racing this is no different. Each horse is assigned a level of probability and then converted to a price. The total of these prices will make up percentage that will more often open towards 130% then mature down to a closing % nearest to 100%.

### Matched Amount

This is the combined value of all bets matched on the market at a given time.

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