Website Tutorial - Part 3

Understanding the order book

About Us

Flexihedge is a betting exchange focused solely on financial markets.

Betting is in GBP (pound sterling) only. The exchange is open 24/7.

Flexihedge is licensed and regulated in the UK by the Gambling Commission.

Player deposits are held in a segregated player funds bank account by an independently administered third party corporate trust. This achieves the best player funds protection rating possible from the Gambling Commission: High.

To register with us you must be at least 18 years old and based in the UK.

Flexihedge in a nutshell

You can back as well as lay odds across a pre-set range of:

1. Markets.

2. Price Levels (or 'Strikes').

3. Bet Expiry Dates (or 'Expiries').

Expiry Dates are daily, from Monday to Friday this week, and Friday next week.

Expiry Dates correspond to daily closing values.

The exchange ‘order book’

The exchange order book is the engine that powers any betting exchange.

It prioritises the most competitive odds offered in the market.

If you are laying:

⇒ offering higher odds moves you closer to the front the order queue.

If you are backing:

⇒ offering lower odds moves you closer to the front the order queue.

The order queues meet in the middle

All betting exchange order books are split into 2 queues that meet in the middle:

The Laying order queue - Left Hand Side.

The Backing order queue - Right Hand Side.

Like so:

Laying order queue ⇒ | ⇐ Backing order queue

The intersection is the front of both queues

The intersection in the middle where they meet is the front of both order queues.

This is where bets are matched if the odds are the same.

The further you move away from the middle, the further you are from the front of the order queue.

Order book illustration

Laying order queue Backing order queue

Front of both order queues= best odds in the market (or ‘market odds’)

Bets match if odds are equal

Lower odds Higher odds Lower odds Higher odds

‘Back Now’ odds (front of laying order queue)

By betting exchange convention:

The odds at the front of the Laying Order Queue.

⇒ are called the ‘Back Now’ odds.

Why?

Because if you want to back a bet right now, these are the best odds available in the market to do so.

‘Lay Now’ odds (front of backing order queue) The odds at the front of the Backing Order Queue.

⇒ are called the ‘Lay Now’ odds.

Why?

Because if you want to lay a bet right now, these are the best odds available in the market to do so.

The Flexihedge order book - in practice

In this screen example we have selected the following:

Market: Gold

Bet Expiry Date: Thursday 5th January

Price Level: 1160

Breaking it down

Laying order queue Backing order queue

Lower odds Higher odds Lower odds Higher odds

Bets match if: odds are equal

Front of both order queues = market odds i.e. best odds

Bet Slip for placing your bet:Input your odds / stake and then confirm

Summary

The laying order queue (LHS) and backing order queue (RHS) meet in the middle.

The middle is the front of each queue, where the odds are most competitive.

As we move away from the middle, the odds become less competitive.

The more competitive you make your odds, the closer to the front of the order queue you will move, and the higher chance you have of being matched.

It's a marketplace.

Further information and contact us

See our other web tutorials.

Check the ‘Further Info’ section of the website (Menu button top left of screen).

Contact us anytime by phone, live web chat or email:

Phone: +44 (0) 20 3781 8023

Live web chat: www.flexihedge.com

Email: via the ‘Contact Us’ section of the website