New to betting exchanges? This guide explains everything you need to know about placing wagers on LK988 CITIBET — from the difference between backing and laying to understanding commission and managing your betting bank.

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On a betting exchange you are always betting at fair market prices — set by other bettors, not a bookmaker's margin.

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Backing vs Laying

When you back a selection you are wagering that it will win — this is identical to placing a bet with a traditional bookmaker. When you lay a selection you are acting as the bookmaker, wagering that the selection will not win. For every back bet placed on CITIBET there must be a corresponding lay bet from another user, which is why liquidity — the volume of money in the market — is so important. CITIBET's position as Asia's largest racing exchange ensures deep, liquid markets on all major race meetings.

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Commission Structure

CITIBET operates at the lowest bookmaking margins in the Asian betting exchange market. A small commission is charged on net winnings from each market — this replaces the built-in margin that traditional bookmakers embed within their odds. Because the odds themselves are set by the market rather than a bookmaker, even after commission you will typically receive a superior return compared with fixed-odds betting.

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Placing Your First Bet

Select your sport — horse racing, greyhound or harness racing — from the navigation menu. Choose your race meeting and event. The market screen displays all runners with their current back and lay prices alongside available liquidity at each price point. Enter your stake in the blue back box to back a selection or the pink lay box to lay it. Your potential profit and liability are displayed instantly before you confirm the bet.

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Responsible Betting

LK988 CITIBET encourages all users to set personal deposit and wagering limits. Treat betting as entertainment and never wager more than you can comfortably afford to lose. If you feel that betting is affecting your daily life, seek assistance from a qualified support service in your jurisdiction.