Types of Custom Bets
There are five kinds of Custom Bets, and they all have several features in common. You can specify a market level or direction, an expiry time and the amount of money you are willing to risk. Bets are placed through our easy-to-use tool and you always know exactly how much you stand to win or lose.
Fast Money bets
These are a kind of up-down bet. They allow you to predict the direction a market will take over a very short period of time. You choose whether you think an underlying market will be higher or lower than its current level, at your chosen expiry, set the timeframe – from two minutes to two hours – and then choose the amount of money you want to risk.
So, for example, if you decide that Wall Street will be lower than 10154 at 4.30pm, and are willing to risk £100, your bet would look like the one in the image shown above.
The box below the sliding scales summarises your bet, including your potential win or loss.
At 4.30pm, if Wall Street is lower than 10154, you win £94.77. If it is lower, you lose £100 – no more, no less.
Please note that once placed, Fast Money bets cannot be closed, only left to expiry.
Binary bets
Binary bets allow you to choose the level you think the market will reach when the bet expires. This can be either above or below the current market price. Unlike Fast Money Bets, binary bets allow you to choose a time frame from one hour to five days, but as with all Custom Bets, you set the timeframe and the amount you want to risk. Binary bets can be closed up to 60 seconds before expiry.
Step 1: Choose a market and select a level
Step 2: Choose a timeframe for the bet
Step 3: Decide how much you want to risk
Step 4: Place your bet
OneTouch bets
With OneTouch bets, you choose a level you think the market will touch during the day. You select an underlying market type, and choose a level you think the market will reach – this can be either above or below its existing level. Then, you set the expiry time of the bet and how much you want to risk, and we calculate your potential win.
So, for example, if you think the US SPX 500 will reach 1097 before 5.50pm, and are willing to stake £110, you would create your bet like this:
If the underlying market level touches your chosen level before your expiry time, you win £1098. If the underlying market never touches your chosen level, you lose your stake.
OneTouch bets can be closed any time until to 60 seconds before expiry.
NoTouch bets
With our NoTouch bets you build your bet around a level you think the market will not touch during the current trading day. You can set this price either above or below the current price, and your potential loss is strictly limited to the stake that you are willing to risk.
Once you have chosen your market, you select a strike price above or below the current market level. Then you specify how much you are willing to risk and the expiry time of the bet. Your win amount is then calculated.
If the underlying market price does not touch or passes your strike price at any time before the bet expires, you win.
If our price touches or goes through the strike price you only lose your stake.
NoTouch bets can be closed any time until 60 seconds before expiry.
Binary Range bets
With Binary Range bets, rather than specifying a market level you think the market will reach, you choose a range.
So, for example, you might believe that at 3.30pm crude oil prices will be somewhere between 7035 and 7066. The top end of this range is known as the ‘ceiling’ and the bottom end is known as the ‘floor’.
Once you have chosen your range, you can choose the date and time when you think the market will be in this range, as well as your stake.
If the price of crude oil is within your range at expiry, you will win. If it is outside the range – either above or below – you will lose your stake.
Binary Range bets can be closed any time until 60 seconds before expiry.
For more detailed information on how Custom Bets work, visit our Custom Bets examples page.