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Taking a Look at the Types of Binary Bets

It's actually pretty easy to make binary bets. And there are a few different ways you can go. They all represent different outcomes that you can predict, and they are all the same in the sense that either you are going to win or lose, and of course, that is why the name "binary" is used. Also, the way the bets are structured, you are basically in control of your risk, since it is no more than the bet itself, unlike the situation that exists with spread betting.

Let's take a look at them:

Above-Below Bet - In this form of binary betting, a "strike price" is established and you are going to be betting that it will go either above or below that price at some point before the expiration of the bet. That period can vary, of course. Upon your prediction having been proven correct, you will win.

One Touch Bet - One of two "touch" bets that are naturally based on whether an asset will "touch" a certain price before the deadline when the bet runs out. The One Touch Bet is a wager that the asset must reach a specific price before the expiration.

No Touch Bet - This goes right alongside the One Touch Bet. In this binary bet, the prediction is that the asset will NOT "touch": a specific price before the pre-determined deadline.

Hi/Lo Bet - This bet explores whether the high or low price of an asset or index is going to be a certain distance from the high or low that it achieved in the previous day's activity.

Boundary Bet - In this binary bet, an upper and lower boundary are designated. And so the question that must be answered is whether the price of the asset will stay within those boundaries, or fall outside them. This is an appropriate bet for those people who like to bet on volatility in the market.