Binary betting is a type of financial betting which displays the price of a bet as an odds index from 0 to 100 where the bet settles at 100 if an event happens and 0 if it does not. The greater the likelihood of an event happening the higher this price will be. A price of 91-93, for example, suggests the betting broker which offers the bet believes the event has a 92% likelihood of happening. An event can be bought or sold, making it possible to profit both from the event occurring or not occurring. A bettor who thinks that the event will occur will buy the bet and a bettor who thinks the event won't occur will sell the bet. An event could be for example, the "FTSE to close 11 points higher by midday", "the FTSE will end higher on the day", "Brent Oil will close between 50 and 60 cents lower" and so on.
Read more about Binary Betting: Types of Binary Bets, Calculating Winnings and Losses, Further Reading
Famous quotes containing the word betting:
“Courtroom—A place where Jesus Christ and Judas Iscariot would be equals, with the betting odds in favor of Judas.”
—H.L. (Henry Lewis)