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Reading a market

Every market is a YES or NO question, such as “Will Detroit win?”. You can take either side.

Buy or sell?

  • Buy (YES) if you think the outcome will happen. You win if it does.
  • Sell (NO) if you think it will not. Selling is a wager against the outcome: if you sell “Detroit to win”, you win if Detroit does not win.

For spreads and totals, the market title is the question. Buying answers YES to the title as written; selling answers NO.

What the price means

Each contract settles at $1 if the answer is YES and $0 if it is NO. The price is what one contract costs, in cents, and reads as the market’s chance of YES: 68¢ means about a 68% chance.

  • A buyer at 68¢ risks 68¢ to win 32¢ per contract.
  • A seller at 68¢ risks 32¢ to win 68¢ per contract.

You can also show prices as American or decimal odds in your settings. The same 68¢ price is -213 in American odds (risk $2.13 to win $1) and 1.47 in decimal odds.

What quantity means

Quantity is the number of contracts. 20 contracts bought at 68¢ cost $13.60 and pay $20 if the answer is YES, a gain of $6.40 before fees.

My order was rejected or cancelled

If an order is rejected, or you cancel it before it fills, the money set aside for it returns to your available balance. An order that is only partly filled keeps the filled part as a position.

Learn by doing

The app’s tutorial walks through a wager. To see it again, go to Settings and turn on Show tutorial. See also Your first wager and How to place a limit order.