HOW TO BET
HOW TO BET

How does Spiffindex work?

Spiffindex is a game where you predict the result of the match and whether the odds (price) will move over or under the market price (index). The product can be used to price hedge/secure an already taken bet or it can be used to speculate in odds' movements. You can also act as a market maker and put your own prices (sell) with reversed earnings/winnings.

When buying, your risk will only be the stake that you're wagering. If you win your bet will be multiplied by the points the price has moved. For example: if your selection wins and the price has moved from 1.51 to 1.61, then you will get 10 times your bet! If you're selling odds, you are betting that the odds will be equal or move in another direction. The maximum risk exposure is deducted from the amount available to bet.

SpiffIndex allows you to complete a back and lay bet in one transaction. This will give you the opportunity to secure your price with less money.

Trading screen

SpiffIndex Trading Screen

How To Bet: 6steps

  1. Chose a selection (team)


    Start by choosing a selection: Home, Away or Draw. If you are buying choose the selection that you think will happen. If you are selling choose the selection that you think will not happen.

  2. Check the Index�


    Index is the calculated market price that you're betting against. The market price is based on various odds' sources. These sources are used to calculate a market index, called Spiffindex. If Spiffx is unable to get information from these sources to establish Spiffindex, Spiffx will decide the closing index based on the rules set out in the terms and conditions.

  3. Decide on the Price Movement: Over/Under�


    Use the SpiffIndex to predict the movement of the odds. If you believe that the price will move you have to decide -whether it will move over or under the Index and place your order accordingly. For In-Play matches the price prediction is for a timeframe of 5minutes. For Pre-Play matches the price prediction relates to the time before the game kicks off.

  4. Make your order: Buy/Sell


    Click on a selection and choose under/over. Type in the amount you want to bet from the available price (if you are buying) or make your own price (if you are selling).

    Buy

    BUY a selection if you think it will happen. Chose UNDER if you believe the Index will go below the buy price or OVER if you believe it will go above the buy price. If you use the buy option you need to select the winning selection (Home, Away or Draw) and predict if the Index will be over/under your price. Both outcomes must be fulfilled to win. When buying, your loss is limited to your stake. If you are right your stake will be multiplied by the number of points the price index has moved from the buying price. Maximum winning is based on dynamic price steps. Check the profit table before confirming your order.�For example you select home team and buy €100 at odds 1,38. Index price is 1,40. So if home team wins and the price decreases to 1,30 you will win €700 (8 points * €100 stake - €100 stake). If home team wins and the price is above 1,38 you will lose your stake. If home team doesn't win, you will lose your stake even if the price is below 1,38.

    Buying a selection

    Sell

    SELL a selection if you believe it will not happen. Chose UNDER if you believe the Index will be above or equal to sell price. Chose Over if you believe the Index will be below or equal to sell price. One OR both outcomes can be fulfilled to win. If you are right you win the stake. If you are wrong your stake will be multiplied by the number of points the price index has moved from the selling price.�For example if index price is 1,40 and you offer home team to win and price under 1,38 you believe that the price will be above 1,38 and that home team will not win. If home team wins and the price is 1,30 and your stake is €100 you will lose €700 (stake €100*8 points - €100). If home team wins but the price is above 1,38 you will win 100 €. If home team loses and the price is 1,30 you will win €100.

    Selling a selection

  5. Check your profitability.


    Before confirming the order you can view the profit table to make sure that the projected wins/losses match your expectations.�

    Profit Table

    Each order has a Stoploss price, in other words a function designed to limit the potential losses. If SpiffIndex falls or rises beyond the Stoploss price the gains/losses won't go any further from the Stoploss price.

    Use the Sandbox to understand what effect your bets would give you if they occur. Choose the selection you wish to bet on and click on the graph button next to the selection. This will open the Sandbox feature.

    Graph button

    Try different bets by placing them in the toolbar 'Place sandbox order'. The upper diagram 'Spiffindex' shows you the odds movement and by pointing with the arrow pointer on the blinking dot you will see the current index. The lower diagram 'Outcome' shows you how your outcome would rise by every correct point in your bet. You can also click on the box 'Show outcome' above the Spiffindex diagram to see how big your chances of winning are if your bet occurs. All outcomes on the green section will make you win and the red section shows you the outcome that will make you lose with the bet you place.�

    Sandbox

  6. Confirm your order


    Click on the 'Confirm' button to confirm your order.

    Confirm

Floating Order

The Floating Order is a feature that will allow the system to move your order automatically when the index changes. The amount will be updated constantly to correspond with the given exposure. Whilst standard Spiffindex orders require a fixed price and an amount, a floating order will instead require a price distance and an exposure. So, when you choose your price and amount, the order will be placed at the chosen distance from the SpiffIndex and with an amount that totals the chosen exposure, i.e. the maximum loss of the bet. These will be recalculated and move automatically every time the index moves.

The Floating Order feature is only available for the Spiffindex product, and can be used for both in-play and pre-play orders. Simply tick the 'Floating order' box and let us do all the calculations for you!

How does Spiffindex Pre-play work?

For Pre-play matches SpiffIndex is the calculated market price that you're betting against before the event starts. You have to predict the result of the match and whether the odds (price) will move over or under the market price (index) before the game kicks off.

Over/Under

If you believe that the price will move before the match starts you have to decide whether it will move over or under the Index. The chosen price will be compared to the Index before the event starts. For example if the Index price is 1.50 10 hours before the game starts and you believe that the price will fall under 1.48 you can buy a selection that matches your prediction or sell an order for the price to be over 1.48.

Refer to 'How does Spiffindex work?' for further rules and explanations.

How does Spiffindex In-play work?

All functionality and games related to the In-Play games are based on the same model as the Pre-Play games. The main differences between the Pre-Play model and the In-Play Model are:

  1. 7 second delay


    For in-play events, when you confirm an order a 7 second delay will occur before this is entered in the order system. This delay will be shown to you.

    Delay placing bet

  2. 5 minutes timeframe


    During in-play games, once an order is matched it will be valid for 5 minutes from the order time. The countdown will be displayed for you to see.

    Bet placed - time left

    All bets can also be viewed in the tab 'My Orders' or by clicking 'My Account'. Any in-play orders that will remain pending at the end of the match will be removed automatically once the match ends.

    If the game is suspended, orders will be kept until the suspended status is released.

  3. Settlement of Bets


    All orders will be settled after 5 minutes from when the bets are matched. Bets will be settled automatically regardless of the result in the game (Ref. Screen 3). All other bets will be settled directly after the game finishes.

Commission

See Spiffx charges

Rules

The rules for each game are displayed in the market information in the tab 'Rules'. Additional information about the rules can be found in the Rules & Regulations and the Terms & Conditions.�

Settlement

Bets will be settled within 24 hours after a game ends. Normally this will be done immediately after the game.