How does matching work?

An order on the BetDEX Exchange is matched when an appropriate equivalent order is found to match it with.

Back orders will be matched with the best available lay order (highest odds) and lay orders will be matched with the best available back order (lowest odds). Orders are matched in a FIFO (first in, first out) manner so if a back order is placed at odds where other back orders have already been placed we must wait for those older, pre-existing back orders to be matched before the new order is.

If I place a back order at certain odds but it ends up getting matched at better odds (higher odds) then my potential returns will be higher because of the better odds.

If I place a lay order at certain odds but it ends up getting matched at better odds (lower odds) then I will receive a refund because the liability of my lay order has been reduced.