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Welcome to SX Bet, the #1 Sports and Crypto Betting Exchange. Now that you’ve got funds on SX, it’s time to start betting.
Unlike traditional bookmakers, where bettors place bets against the bookmaker itself, an exchange allows bettors to bet against each other rather than against the house.
Some exchanges may use different terminology, such as referring to a Market Order as a "Back" bet and Limit Orders as a "Lay" bet, but the underlying principle remains the same.
First, you will want to place at least one “Market” order.
Market Orders
Placing a Market Order on a betting exchange is similar to placing a bet with a traditional bookmaker. You are betting on a specific outcome to occur.
Click on your desired market to bring up the order book. You can select different market options by clicking on Game Lines.
Type in the amount you would like to wager and click submit.
If you’re using MetaMask you will be prompted with a confirmation in your MetaMask wallet. Click confirm to finish placing your order.
Now that you’ve placed a bet, it will appear in the My Bets tab.
Limit Orders
By placing a Limit Order, you are effectively assuming the role of a bookmaker. Instead of betting on an outcome to happen, you are betting against it. In other words, you are offering odds to other users on the exchange, and giving them the opportunity to take the other side of the bet you’re offering.
Click on your desired market to bring up the order book. You can select different market options by clicking on Game Lines.
Select Limit from within the bet slip.
Type in the amount and the odds you are offering.
If you’re using MetaMask you will be prompted with a confirmation in your MetaMask wallet. Click confirm to finish placing your order.
Now that you’ve placed a bet, it will appear in Offered Bets under the My Bets tab.
Changing the Odds Format
You can change the odds format by clicking the gear setting on the top right of the menu. From here you can select American, Decimal, or Percent.
FAQ
MetaMask users: Why do I have to confirm my bets in MetaMask?
This is because SX Bet is non-custodial. Your funds are not deposited onto the SX Bet platform, they are in your private wallet, and approval is required anytime you send crypto via MetaMask.
