Start by selecting the event you fancy a bet on.
You will be given two prices to choose between and the difference between them is called
The spread is the quote BET.co.za offers customers the opportunity to bet on.
There are many different types of spread bets. For example, in a cricket match we will
offer a spread on how many runs a particular batsman will score in his innings.
Spread betting challenges you to decide whether the spread is set too high or low.
To buy you must believe that the batsman will score more runs than the
To sell you must believe that the batsman will score less runs than the
The result for this event will be the final score that the batsman makes. This is called
The amount you win or lose depends on the amount you bet (called your stake) and how right
or wrong your prediction is.
|Hashim Amla Runs
||SELL 40 - 45 BUY
The stake is R10 and if you decide Amla will score more than 45 Runs you will BUY. If you
decide Amla will score less than 40 Runs you will SELL.
Let’s say he scores 100 runs, the make-up for this market will be 100 and your return or
loss will be calculated as follows:
If you had bet BUY for R10:
You would have won R550 because your bet of R10 was right by 55 runs as you chose to BUY
at 45 runs and Amla scored 100 runs.
If you had bet SELL for R10:
You would have lost R600 because your bet of R10 was wrong by 60 runs as you chose to SELL
at 40 runs and Amla scored 100 runs.
The stop loss amount of 100 is the maximum that can be won or lost and is reserved from your
account for this purpose.
Spread markets are mainly offered in-running and give the customer the opportunity to take
advantage of price movements during an event. To close a trade means to lock in any profit or safeguard
against any further loss. You can close a trade at any time whether you are making a profit or a loss.
When you buy to open your trade, you must buy at the higher price, and when you close that
trade, you must close at the lower price being quoted at the time you close.
If you sell to open your trade, you sell at the lower price, and when you close the trade, you must
close at the higher price quoted at the time.
Once your bet is closed your account will be credited or debited with your winnings or losses and
is calculated the same way as if the match had finished.
BET.co.za Reserved amount / locking your position
BET.co.za will reserve your stake times by the stop loss on the relevant market off your account.
Example of Reserved amount:
Manchester vs Chelsea
Spread: 0.6 - 0.9
Stop loss: 5
That is to say: if you thought Manchester would beat Chelsea you would Buy. Lets assume we stake
R100 per goal, R500 would be reserved off your account (R100 (stake) x 5 (stop loss) = R500 Reserved)
If during the game, Manchester was up by 2 Goals and you wanted to lock in your profits, you would
place a Sell bet at R100 stake. With BET.co.za nothing further would be reserved off your account,
and when the game is resulted your winnings will be credited.
Profit calculation = 2 (outcome) - 0.9 (buy side of spread) = 1.1 points.
1.1 X R100 = R110 Profit.
Basically to lock in your position, you do the opposite trade (if your original bet was a buy you
would sell, if your original bet was a sell you would buy) to the same stake value of the original
trade. All winnings/losses will be transferred to your account at the end result.