Concept
Spread betting
Related concepts (4)
Bookmaker
A bookmaker, bookie, or turf accountant is an organization or a person that accepts and pays out bets on sporting and other events at agreed-upon odds. The first bookmaker, Ogden, stood at Newmarket in 1795. Bookmakers in many countries focus on accepting bets on professional sports, especially horse racing and association football or Indian Premier League cricket. However, a wider range of bets, including on political elections, awards ceremonies such as the Oscars, and novelty bets are accepted by bookmakers in some countries.
Odds
In probability theory, odds provide a measure of the likelihood of a particular outcome. They are calculated as the ratio of the number of events that produce that outcome to the number that do not. Odds are commonly used in gambling and statistics. Odds also have a simple relation with probability: the odds of an outcome are the ratio of the probability that the outcome occurs to the probability that the outcome does not occur. In mathematical terms, where p is the probability of the outcome: where 1 – p is the probability that the outcome does not occur.
Foreign exchange market
The foreign exchange market (forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market. The main participants in this market are the larger international banks.
Futures contract
In finance, a futures contract (sometimes called futures) is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The asset transacted is usually a commodity or financial instrument. The predetermined price of the contract is known as the forward price. The specified time in the future when delivery and payment occur is known as the delivery date.