28 terms
Betting glossary
Updated
Plain-English definitions of the terms you'll meet on Goexch, from back, lay and liability to session and fancy markets, KYC, RTP and deposit limits.
AI overview
Key takeaways
- On an exchange you can back an outcome to happen or lay it not to happen, against other players.
- Decimal odds show your total return per ₹1, and a lay bet risks stake × (odds − 1).
- Session and fancy markets are cricket side bets that settle on the official scorecard at a set point.
- KYC comes before your first withdrawal, and deposit limits can be set on WhatsApp at any time.
10 terms
Exchange basics
- Betting exchange
- A betting exchange is a market where players bet against each other instead of against a bookmaker. One player backs an outcome, another lays it, and the exchange matches the two.
- What is Goexch?
- Back
- To back is to bet that an outcome will happen. If it does, you get your stake multiplied by the odds; if it doesn't, you lose your stake.
- Lay
- To lay is to bet that an outcome won't happen. You take the other side of someone's back bet: you win their stake if the outcome fails, and pay out your liability if it happens.
- Back and lay explained
- Liability
- Liability is the most you can lose on a lay bet: your stake × (odds − 1). Laying ₹100 at 2.50 risks ₹150. Your balance has to cover it before the bet is accepted.
- Decimal odds
- Decimal odds show your total return per ₹1 staked, stake included. ₹100 backed at 2.50 returns ₹250 if it wins.
- Implied probability
- Implied probability is the chance a price suggests: 1 ÷ odds. Odds of 2.50 imply a 40% chance.
- Matched bet
- A bet is matched when another player takes the other side at your price. Only the matched part counts; anything unmatched waits until someone takes it.
- Placing a live bet
- Commission
- Commission is the fee an exchange usually takes from your net winnings on a market. It's how an exchange earns, instead of building a margin into the odds.
- Margin (overround)
- The margin, or overround, is the extra a bookmaker builds into its prices, so the implied chances of every outcome add up to more than 100%.
- How bookmakers make money
- In-play betting
- In-play, or live, betting means betting after a match has started, at prices that move with every ball, goal or point.
- How to place a live bet
7 terms
Cricket markets
- Match odds
- Match odds is the market on who wins the match, plus the draw in a Test. It settles on the official result, including DLS and super overs.
- Cricket markets
- Session
- A session is a line on the batting side's runs at the end of a set over, such as the 6th or 10th. You bet Yes (over the line) or No (under it), and it settles on the runs at the end of that over, extras included.
- Session betting guide
- Fancy market
- Fancy markets are cricket side bets beyond the result, such as a batter's runs, the fall of a wicket or a partnership. Sessions are often listed under fancy too.
- Toss market
- The toss market is a bet on which captain wins the coin toss. It settles on the official toss and is void if no toss takes place.
- Toss market guide
- DLS method
- The Duckworth-Lewis-Stern (DLS) method sets a revised target when rain shortens a limited-overs match. Bets settle on the official DLS result.
- Betting rules
- Super over
- A super over is a one-over-per-side tie-breaker in limited-overs cricket. It counts for match odds, but not for session, fancy or player markets.
- Void bet
- A void bet is settled as if you never placed it, so your stake goes back to your balance. An abandoned match with no result voids its match odds bets.
- When bets are void
5 terms
Account and payments
- Goexch ID
- A Goexch ID is your personal Goexch account: a username and password linked to your name and mobile number. One ID covers sports and the casino.
- Get your Goexch ID
- Wallet
- The Wallet is where you deposit, withdraw and check your balance in your Goexch account. Only ever pay through the Wallet.
- How to deposit
- UTR
- A UTR (Unique Transaction Reference) is the reference number your bank or UPI app shows for a payment. Support uses it to trace a deposit that hasn't arrived.
- Deposit issues
- KYC
- KYC (Know Your Customer) is the identity check Goexch runs before your first withdrawal, so payouts reach the right person. You don't need it to open an ID.
- KYC policy
- Wagering requirement
- A wagering requirement is how much you must bet before a bonus can be withdrawn, usually a multiple of the bonus. Check it before you choose an offer.
- Bonuses
3 terms
Casino and games
- RTP (return to player)
- RTP is the share of all money staked on a game that it pays back over the long run. A 96% RTP returns ₹96 per ₹100 staked on average, across a very large number of rounds.
- Slot games
- House edge
- The house edge is the casino's built-in advantage on a game: 100% minus the RTP. The lower it is, the less you lose on average.
- Table games
- Crash game
- A crash game is a round where a multiplier climbs from 1.00x until a random crash point. Cash out before the crash and your stake is multiplied; wait too long and it's lost.
- Crash games
3 terms
Staying in control
- Bankroll
- Your bankroll is the money you've set aside for betting and nothing else. Keep each stake a small, steady share of it.
- Deposit limit
- A deposit limit caps how much you can deposit each day, week or month. Ask support on WhatsApp to set one on your Goexch ID.
- Set betting limits
- Self-exclusion
- Self-exclusion closes your account for a set period so you can't bet. A cool-off is a shorter break of the same kind.
- Responsible gaming
Put it into practice
Where to go next
Guides that use these terms step by step.
18+ only. Betting involves financial risk, so only play with money you can afford to lose. Responsible gaming