An exchange where you bet
against other players
Introduction
‘Back’ and ‘lay’ bets
We’ll focus on the fact that just like in a regular exchange, the punter can place wagers in favor of an outcome (‘back’) and against an outcome (‘lay’). Yet, to make it more intuitive, an alternative bet slip was designed. The slip presents both options, ‘back’ and ‘lay’, with their current liquidity given by the most relevant bookmakers, side by side, and the players would be able to request the best price offered in the market and their order will stay in the queue.
There are three sections under the headings of “average”, “best” and “total” making it easier to players to see how much is available in the market and at what prices. And if the player made a betting mistake or just wants to cancel an open order, in the section “My Orders”, he/she will capable to cancel any order, and all unmatched liquidity will be removed from the exchange.
Dark Orders
And if the above mentioned isn’t enough, Molly Exchange is offering something special, different, and unique called Dark Orders. They are designed to allow players to place bets for higher amounts than the current one without revealing the size or price. These dark orders aren’t visible via the user interface of via API, they are placed in the queue of available liquidity where they are ordered by price and then time and finally matched against other incoming bets.
You need to follow some requirements for this activity. The first one is that the order’s value must be greater than £100. Second, you may select a minimum limit that all other players must follow in order for the matching process to begin. This functionality is intended to protect against “price discovery” operations.