One Touch Bet
How does it work?
- Win a multiple of your stake if at any time before the bet expires, the asset price touches, or goes past, the strike price.
- If the asset price never touches the strike price you win nothing but only lose the stake.
How to bet
- Set a strike price above or below the asset’s current price.
- Set how much you want to win and the expiry time of the bet.
- Then place your bet.
Example
The Wall Street Index is trading at 10,500. A trader bets that it will touch 10,700 some time in the next 3 market days and wants to win $1,000 when it does. He pays a stake of $200.On day 2 of the bet the Wall Street Index trades at 10,700. The bet instantly closes and the trader wins $1,000.
If the Index had not touched 10,700 before the time of expiry the trader would win nothing, but would only lose the $200 stake.--
Note that a 3 day bet expires in 3 market days at the same time as it was placed. A 3 hour bet expires in 3 market hours, even if this means rolling over to the next day. The same applies for bets denominated in minutes.
