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Below are the most common terms used in Spread Betting (Index Wagering).
BUY A wager that the result will be greater than the higher end of the price. Also known as GO HIGH.
CLOSING A BET Where you place a second wager, of the same size and in the opposite direction to your first or existing OPEN/PENDING wagers.
GO HIGH A wager that the result will be higher than the higher end of the price. Also called a BUY.
GO LOW A wager that the result will be lower than the lower end of the price. Also called a SELL.
INDEX BET A wager in which performance is measured by awarding points for reaching particular stages or filling particular positions.
IN-RUNNING Wagering on an event as it happens, with the prices being updated constantly. Also known as LIVE BETTING.
LIVE BETTING Wagering on an event as it happens, with the prices being updated constantly. Also known as IN-RUNNING.
LOCKED AMOUNT This is the amount frozen/tied up in your account when placing any Spread Wager.
MAKE-UP The result on which a wager is settled. The difference between this figure and the price at which a wager is opened, multiplied by the stake, gives the profit or loss. Also (M/U).
MATCH BET A wager on the relative performance of two participants in an event against each other, regardless of how well any other participant performs.
MAXIMUM MAKE-UP A limit on the result, specified before the event. If the final result exceeds the maximum make-up, the latter is used to settle the bet. Also MINIMUM MAKE-UP.
OPEN WAGER A wager that has not yet been closed or settled. Also known as a PENDING wager.
PARTIAL CLOSING Where you place another bet, of a lesser size and in the opposite direction to your open wagers.
PENDING WAGER A wager that has not yet been closed or settled. Also known as an OPEN wager.
POINT LIMIT The maximum amount per point that a client can hold in OPEN POSITIONS on a specific proposition.
RANGE MARKET A proposition where the parameters are either determined by the running time of the event (ie Time of 1st Goal) or by a scoring system or MAXIMUM MAKE-UP specified by VIP.
REVERSING A POSITION Placing a wager both greater than and in the opposite direction to your existing OPEN/PENDING wagers.
SELL A wager that the result will be less than than the lower end of the price. Also known as GO LOW.
SHIRT NUMBERS The numbers worn on the shirts of scorers, of touchdowns in football, of goals in hockey & soccer.
SPREAD The difference between the prices for buying and selling.
STAKE The amount, in $ per point, goal, stroke, run etc, nominated by the client to indicate the size of the bet.
STOP LIMIT A limit specified by VIP which determines the maximum amount that a particular bet can win or lose.
SUPREMACY Also known as WINNING MARGIN. A measure of how much better one participant performs than the other.
TOTAL POINTS The total number of points scored by all participants in an event.
VALUE The amount you would win or lose on an OPEN wager if you were to CLOSE that wager.
VOLATILITY A measure of how widely the result in a market is likely to vary. Touchdown Scorers Shirt Nos are very volatile, the winning score in the US Masters less so.
WINNING MARGIN Also known as Supremacy. A measure of how much better one participant performs than the other.
YOUR CHOICE A two-sided contest where we believe both sides have the same chance. You choose your favorite, but must give your underdog a small start. Also CH. The equivalent of "pick em" in conventional wagering.
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