What is an Order?

An order on BettorEdge is your offer to purchase or sell a bet position against other users in the marketplace. Orders contain four key elements: the predicted outcome, probability (price), quantity, and expiration date—all working together to define your betting position without the high fees charged by traditional sportsbooks.

Every order on BettorEdge consists of four essential components:

1. Predicted Outcome
   • The specific result you're betting on (e.g., "Kansas City will win by 7")
   • Defines which side of the market you're taking
2. Probability (Price)
   • The likelihood you assign to your predicted outcome (e.g., 50% or +100)
   • Determines the price at which you're willing to buy or sell
   • Can be expressed as a percentage or in American odds format (e.g., 50% = -100)
3. Quantity
   • For buy orders: The amount of cash/Edge coins you want to bet
   • For sell orders: The units of an existing bet position you want to sell
4. Expiration Date
   • The timestamp when any unfulfilled portions of your order will expire
   • For buy orders: Unfulfilled amounts return to your wallet
   • For sell orders: Unfulfilled amounts return to your bet position

BettorEdge offers two distinct order types to accommodate different betting strategies:

Market orders execute at the current market price (probability/odds), prioritizing speed over price precision.

Key characteristics:

• Execute at the current market price based on the last traded position
• Have priority over other order types for faster execution
• Ideal when you want to secure positions quickly
• Help avoid partial fills more effectively than limit orders
  
  

Price Protection Feature:

• BettorEdge automatically applies a 1% collar (user-adjustable preference) to market buy orders
• This protects you from significant upward price movements while placing your order
  
  

Example:

1. The current market price for Minnesota to beat Colorado is 55% (-122)
2. You place a market order for Minnesota to win at this price
3. BettorEdge finds the cheapest open order on the opposite side (Colorado to win)
4. If the cheapest available price is lower than the current market or within 1% more expensive, your order will fulfill
5. Your final position will never be priced higher than 56% (-127) but could be cheaper (e.g., 50% or -100)
6. This collar protects you from price volatility that could result in an unfavorable position

Note: Current market price is based on the last traded price and may not reflect the actual price in markets with low trading volume.

Key characteristics:

• Execute only at your specified price (or better)
• Provide greater control over the final executed price
• May take longer to fill or might not fill at all
• Require matching orders on the opposite side at your price point or better

Example:

1. The current market price for Minnesota to beat Colorado is 55% (-122)
2. You decide this price is too high and place a limit order at 50% (-100)
3. Your order remains unfulfilled until someone on the Colorado side accepts your 50% price
4. The resulting position will never be more expensive than your limit price (50%), but could be even cheaper

If your orders remain unfilled:

• For market orders: Check if there's sufficient market liquidity
• For limit orders: Consider whether your price is competitive with current market conditions
• Be patient during off-peak hours or for less popular events
• Monitor market trends and adjust your orders accordingly

If only part of your order is filled:

• The remaining portion stays active until the expiration date
• You can cancel the unfilled portion at any time
• Consider placing a new order at a more competitive price

Ready to place your first order on BettorEdge? Here's how:

1. Select a sporting event and identify the market you want to participate in
2. Decide which outcome you want to back
3. Choose your order type based on your priority:
   • Market order: For speed and higher likelihood of execution
   • Limit order: For price control and potentially better value
4. Specify your quantity and review the order details
5. Submit your order and track its status in your account
   
   

Remember that unlike traditional sportsbooks with their higher fees, BettorEdge lets you trade directly with other users, giving you more control over your betting experience through these flexible order types.