Bet Statuses
Introduction
Are you just starting your journey into the world of online betting? It may be a little difficult to get a hang of all the terms and slangs you hear flying around. One of the things novice bettors tend to struggle with is understanding all the different bet statuses there are.
Bet statuses can change from the moment the bet is placed to when it is closed by the bookie or exchange. They look complex to begin with, but are not in fact so difficult to grasp. We are here to get you on the right track with a short resume of each.
Sportsbooks
Pending/Waiting
When you place a bet on a sportsbook, there may may be a short delay until the bet is placed. When this happens, we say the bet is “pending” or “waiting”.
“Open” is a term for bets that the bookie accepted. In other words, the bookie “opens” the bet in their system.
Open/Accepted
“Settled” means the sportsbook has defined the outcome of the bet, and counted the profit. The best bookmakers are quick to settle bets, with most crediting the winnings instantly.
Settled
Exchanges
Pending/Waiting
Like with sportsbooks, there may be a delay before the bet is placed. Such bet will have the status “pending” or “waiting”.
Unmatched
This means that no other bettor took (or “matched”) your request yet. An unmatched bet will remain on the market as an open offer until you cancel it.
Matched
This means another bettor accepted your bet. The bet is now live, and waiting the official results to be settled.
Settled
This status appears when the match ends, and the results are official. The exchange counts the profits for both (or more) players in the match.
Other things to know
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What is Danger ball?
Danger ball is when the ball is in a situation that creates danger, such as a corner or a free kick. Live bets are accepted easily when the ball is in a safe position, but may suffer a delay when a “danger ball” is happening. -
Why can a bet be resettled?
Now this one is a little complicated. Bet resettlement is the process of correcting the settlement status of your bet, which may have been previously settled incorrectly, resulting in a win, loss, or void. Consequently, your account may be either credited or debited. This usually happened when there is a change in the official results for some reason.
Conclusion
You can dive a lot deeper in this topic, but this should be enough to get you started on your journey. Keep an eye open for the best gambling deals, offers, and tips online, and best of luck to you in you gambling journey.
