Placing an order
Placing a bet comes down to one screen: the slip. You set four things, and before you confirm, it shows you exactly what you're risking and what you'd win.
Outcome
Yes · 48¢No · 52¢
Direction
BuySell
Type
LimitMarket
Shares200
Limit price$0.48
You pay$96.00
Max payout$200.00
Max profit+$104.00
The four things you set
- Outcome. The side you're backing,
YesorNo. - Direction. Buy if you think it happens, Sell to bet against it. More on that in Betting against.
- Type. Limit to name your price, or Market to take what's there now. The trade-off is in Order types.
- Amount. How many shares, or how much you want to put in.
Read the slip before you confirm
This is the part that matters. As you fill it in, the slip does the math live:
- You pay — what leaves your balance right now.
- Max payout — the most those shares can be worth ($1 each if you win).
- Max profit — the payout minus what you paid.
Nothing is hidden, and nothing changes after you confirm. The number on the slip is the number you get.
What happens when you place it
If someone's already there at your price, it fills on the spot. If not, your order rests in the book with your stake reserved, and fills when someone meets it. You can cancel a resting order any time to free the funds.
The full picture, partial fills, resting orders, the queue, is in Order types.