Index Wagering Glossary M-Y
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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 a bookmaker 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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