Buy this bet to play a market rise between now and the market close today. A Double Up bet pays two times the premium if the market rises above a given level between the time of purchase and the close of trading. It expires at the close of business on the day of purchase of the bet.
Example: [Pays 100 if the FTSE closes above X between now and the close of trading today]
Double Up Bet The Double Up contract pays double the stake (premium) if you correctly predict that the market will move up (i.e the market will rally) by the end of the day. However, the odds factor is slightly less than 2:1 since we take a spread on the current market level. This spread constitutes our commission and is best explained by an example:
Example: Suppose you input these parameters for a Double Up bet: I wish to win «USD» «500» if the «USD/JPY» rises between now and the close of trading today. After clicking on the «Calculate Cost of this Bet» button, the system returns this message:
You wish to win USD500 if USD/Japanese Yen is higher than (or equal to) 118.46 at midnight (GMT) today. Warning.
Bet is priced against USD/Japanese Yen of 118.332
The cost of this bet is USD250, which, as expected is equal to half the potential payout (total winnings including stake) of $500.
Clicking on the small icon «Warning» launches a pop-up window: "The difference between the current market level 118.332 and the barrier level 118.46 represents our company commission.
The present value of the USD/JPY is actually lower than this, at 118.332, but we have added 0.128 points (118.46 118.332) to your target that the market must be above. This is where we earn our commission and is referred to as the «spread».
In contrast, if you buy a double down contract you would find that the market would have to close below a target that is slightly below the present value of the market. (see example below for Double Down)
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