for or against.
Buy. To take a position that wins if the outcome happens. Your risk is the amount you put in. Exchanges and the API call this backing.
Cashout. Closing a position for a single offered figure. Cashout is offered on most markets.
Cents. A price expressed as implied probability. 40c means a 40 percent implied chance, and equals a decimal price of 2.50.
Combo. Two to ten legs combined into one position. Every leg must win. The API calls this a parlay.
Decimal price. A price expressed as the total return for each unit you put in, including that unit. 2.50 returns 2.50 USDT per 1 USDT.
Fill. A match between your order and the other side. An order can fill in part or in full.
Filled. Your order found a counterparty and you hold a position. Filled is not settled.
Heartbeat. An API safety net. If your program stops refreshing it, every open order on the account closes.
In-play. Markets priced while the event is running. Most volume on MagicMarkets is in-play.
Lay. The exchange and API word for selling an outcome. See Sell.
Liability. What a sell would pay out if the outcome happens. It must be free in your account before the trade is placed.
Limit order. An order at a price you name. It matches only at your price or better, and may not match at all.
Liquidity provider. One of the more than 25 sportsbooks, sports exchanges and prediction markets whose prices feed the MagicMarkets order book.
MagicMarkets Pro. The dense grid layout for following many markets at once. Choose Pro under Layout in settings. See MagicMarkets Pro.
Maker. Someone who posts a price nobody has met yet and waits for it to be taken.
Market order. An order that takes whatever is on the book now.
Normal mode. The default layout, shown as Standard in settings. See MagicMarkets Pro.
Offer. A priced selection on the live feed, with the size available at each price.
Open stakes. Funds committed to positions that have not settled. Not withdrawable until they do.
Order book. The single list of prices and sizes for an outcome. It holds orders from other traders and aggregated liquidity from more than 25 sportsbooks, sports exchanges and prediction markets.
Order ticket. The ticket you fill in to place a trade. It holds a short-lived quote: the price and the size available to you at that moment. The API calls this object a betslip.
Parlay. The API calls a combo a parlay. See Combo.
Partial fill. An order that matched for less than its full size. The remainder keeps working until it fills, expires or you cancel it.
Position. What you hold after a fill: an exposure to an outcome at an average matched price.
Sell. To take a position that wins if the outcome does not happen. Your risk is your liability. Exchanges and the API call this laying.
Settlement. The event finishes, the outcome is verified, and balances move. The order shows Completed, and your balance updates.
Smart credit. Recognises when two of your positions offset and returns the capital behind them to your available balance instead of holding it to settlement.
Space. In MagicMarkets Pro, a page you build from the sports, competitions and events you follow.
Taker. Someone who accepts a price already on the book.
Tick. The smallest step between two valid prices. It widens as the price grows.
Trade out. Closing a position by taking the opposite side of the same outcome at the current price.
USDT. The stablecoin every MagicMarkets balance is held in.
Void. A market cancelled under the settlement rules. Committed funds return to both sides.