What is Normal Order?

What is a current normal order?

A current normal order is an instruction to place a bet on a selected bet type for a specific stake on a specific odds.

Given the stake, VOdds will estimate the best available odds for the order. Upon user’s confirmation, VOdds will immediately execute the order. All bets placed will be at equal or better odds than the specified odds. However, VOdds might not be able to fulfill the requested order, because the odds may change significantly between the execution time and the time the order is placed.

What is a future normal order?

With future order, users can place a bet at a hitherto unavailable odds. VOdds will carry out the trade once the odd requested is available. Users are also able to specify how long the order is good for. VOdds will try to fulfill the order as long as the order is still in force.

This function is especially useful for traders who need to bet only on specific prices, and quantitative analysts who use a set of pre-determined prices to trade. In addition, in-running traders will find it advantageous to enter or exit a trade using this function.

In addition, this function can also perform a “Sweep” action for users who require larger stakes. For example, if the prevailing odds are:

Sportsbook A: 2.00 ; max stake $100

Sportsbook B: 1.99 ; max stake $100

Sportsbook C: 1.98 ; max stake $100

Sportsbook D: 1.97 ; max stake $100

Sportsbook E: 1.95 ; max stake $100

User can submit an order of $1,000 at odds 1.95 and VOdds will hit the sportsbooks simultaneously to get the best return for the user.

This future order will only stop when:

a) Order duration has lapsed

b) Requested stake has been reached, hence order fulfilled

c) User initiates a Cancel Order command.