Bet Status
If you are just beginning your adventure into the realm of online betting, you might find it a little challenging to understand all the jargon and language that you hear being thrown around. One of the things that novice gamblers frequently struggle with is understanding the various bet statuses.
The bookmaker or exchange may change the status of bets from the time they are placed up until the time they close them.
So let's go ahead and try to make sense of the bet statuses
Accepted
This one is quite easy to understand. The status "Accepted" appears as soon as the bet is accepted or confirmed. This demonstrates that the bet is active and in effect. On exchanges, "Status accepted" means that a different bettor matched the bet and it is ready for execution. Basically, this status signifies that the bet meets all requirements and is fully active.
Pending
The status "Pending" indicates that the result is still up in the air. It is awaiting a solution at this time. A "Pending" status on a betting exchange means that the wager has been successfully placed but is still awaiting confirmation from the platform or matching by another bettor.
Won
Exactly what it says on the tin. The status "Won" means you won the bet, and it is just what all bettors are after. This outcome gives bettors more confidence and strengthens their beliefs in their assessment and approach regarding their betting. It makes you feel very accomplished when you win a lot of money, gives you a rush, and keeps bettors coming back.
Lost
The other side of the coin. A prediction's "Lost" status means the bet was, well, lost. You got nothing. Actually, you've lost the money you invested. Even with careful planning, some factors are impossible to anticipate.
.... and there is more
Cancelled
This status means that the wagers are no longer valid and this outcome is a very bad one indeed. However, everything is not lost. Watch out for potential wagers in the future, more chances will come.
Refunded
You get your money back. This indicates that the bettor received their initial stake as a refund. This can happen when an event that is a part of the wager is postponed or cancelled. Alternatively, a processing error for the wager or technical difficulties that affect the result can cause the refund. In other situations, the bettor gets the reimbursement as compensation for whatever difficulty they may have experienced.
Void
That means that the wager has no valid outcome. This can happen due to a technical issue, incorrect odds, or even a canceled event. After the event ends, the betting platform may reimburse or cancel bets that were voided. So remember to read the betting platform's terms and conditions to learn how they handle voided bets.
Settled
The final stage. The bet is settled when the outcome is clear and agreed upon. This call is final and binding. You cannot discuss or do anything further once you see this.