Summary of terms

Arbitrage Arbitrage occurs when you can buy and sell in the same market and guaratee a profit risk free. This occurs when two separate firms have an opposing view on a market.

Closing a bet Where you place a second bet, of the same size and in the opposite direction to the first. This establishes your profit or loss and ensures that you have no financial involvement in the remainder of an event, unless you have other bets open.

Down bet A bet that the result will be lower than the lower end of the quote. Also called a Sell.

Index bet A bet in which performance is measured by awarding points for reaching particular stages or filling particular positions.

In-running Betting on an event as it happens, with the prices being updated constantly.

Make-up The result on which a bet is settled. The difference between this figure and the price at which a bet is opened, multiplied by the stake, gives the profit or loss.

Match bet A bet on the relative performance of two participants in an event against each other, regardless of how well any other participant performs.

Maximum make-up A limit on the result, specified by IG Index before the event. If the final result exceeds the maximum make-up, the latter is used to settle the bet. Also Minimum make-up.

Open bet A bet that has not yet been closed or settled.

Shirt numbers The numbers worn on the shirts of scorers, of goals in football and tries in rugby.

Spread The difference between the quotations for buying and selling.

Stake The amount, in £ per point, goal, stroke, run etc, nominated by the client to indicate the size of the bet.

Stop loss A limit placed at the time of opening a bet on the maximum amount the bet can lose. This applies to all Limited Risk accounts.

Stop win A limit on how many times the stake a Limited Risk bet can win, which operates in tandem with a stop loss.

Supremacy Also known as superiority. A measure of how much better one participant performs than the other.

Total points The total number of points scored by all participants in an event.

Up bet A bet that the result will be higher than the higher end of the quote. Also called a Buy.

Volatility A measure of how widely the result in a market is likely to vary. Cricket runs are very volatile, the winning score in the US Masters less so.

Your choice A two-sided contest where we believe both have the same chance. You choose your favourite, but must give your underdog a small start. Also CH. The number of markets on offer is huge and expanding all the time. Whatever your interest there is bound to be something to attract you.