And SPY is trending higher. With its defined risk and highly-flexible structure, more than any dicey market forecast, a stock collar is well-suited to navigate and capitalize on the best and worst of times sure to follow.

On the date of publication, Chris Tyler does not hold, directly or indirectly, positions in any securities mentioned in this article.

Chris Tyler is a former floor-based, derivatives market maker on the American and Pacific exchanges. The information offered is based on his professional experience but strictly intended for educational purposes only.

Typically, on the day of the race, UK bookmakers offer a choice between placing a bet at SP, or taking a fixed price. Some bookmakers offer best odds guaranteed , meaning that if a punter takes fixed odds on a race when the bet is struck and the SP turns out to be better that is, higher , then if the punter wins, the payout is calculated using the SP.

This is aimed at removing hesitancy among punters prompted by fears of taking what might prove to be a poor that is, low price before the race.

In the United Kingdom, the stake on an SP bet is returned if the horse is withdrawn before the race starts.

It is also almost always a better price in comparison with the industry SP. How can we help you? If the odds decrease, then you potentially win less money.

Instead of an independently determined SP, Betfair offer their own version, the BSP. They say that it gives a much fairer starting price to the traditional method.

Favoured in Continental Europe , Australia , New Zealand and Canada , decimal odds differ from fractional odds by taking into account that the bettor must first part with their stake to make a bet; the figure quoted, therefore, is the winning amount that would be paid out to the bettor.

It is considered to be ideal for parlay betting because the odds to be paid out are simply the product of the odds for each outcome wagered on.

Decimal odds are also known as European odds , digital odds or continental odds and tend to be favoured by betting exchanges because they are the easiest to work with for trading, in this case the purchase and sale of upside and downside risk.

Moneyline odds are favoured by United States bookmakers and as such are sometimes called American Odds. Moneyline refers to odds on the straight-up outcome of a game with no consideration to a point spread.

To convert fractional odds to decimal, take the fractional number, convert it to decimal by doing the division, and then add 1.

For example, the 4-to-1 fractional odds shown above is the same as 5 in decimal odds, while 1-to-4 would be quoted as 1. The method for converting moneyline to decimal odds depends on whether the moneyline value is positive or negative.

If the moneyline is positive, it is divided by and add 1. Spin Sports. Wager with the best at Spin Sports. Action-Packed Markets with Top Odds Determined to win?

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