Place Your First Order

This guide will walk you through placing your first order on BettorEdge Markets, explaining all the order parameters and options available.

Prerequisites

Completed authentication and obtained a Bearer token (see Authentication Guide)
Understand how BettorEdge Markets work (see What are BettorEdge Markets?)
Know how to find or build an order context hash (see Understanding Liquidity)

What is an Order?

An order is your request to buy contracts in a specific market outcome. When you place an order:

You specify what you want to trade (order context hash)
You specify how much you're willing to pay (price)
You specify how much you want to invest (amount)
Your order either fills immediately (if liquidity exists) or waits for someone to match it

How Orders Work

When you place an order on BettorEdge, you're creating a limit order that lets you set the maximum price you're willing to pay:

You specify your price (e.g., $0.65)
Your order only fills at that price or better
If no one matches your price, your order waits in the market
You become liquidity for other traders

Example:

You place a buy order at $0.65
Someone sells at $0.65 → Your order fills
Only sellers at $0.60 exist → Your order waits (doesn't fill at worse price)

All orders placed through the API use real USD from your account balance.

Placing an Order

Now let's place your first order. Make sure you have:

Your Bearer token from authentication
An order context hash (from available markets or built yourself)

API Request

cURL
JavaScript
Python

curl -X POST https://proxy.bettoredge.com/markets/v1/orders/order/place \
  -H "Content-Type: application/json" \
  -H "Authorization: Bearer YOUR_ACCESS_TOKEN" \
  -d '{
    "order_context_hash": "team:lakers_nuggets_20240115:12345:over:athlete:2954:31.5",
    "price": 0.65,
    "amount": 100,
    "market_type": "FOR_MONEY"
  }'

const response = await fetch('https://proxy.bettoredge.com/markets/v1/orders/order/place', {
  method: 'POST',
  headers: {
    'Content-Type': 'application/json',
    'Authorization': `Bearer ${accessToken}`
  },
  body: JSON.stringify({
    order_context_hash: 'team:lakers_nuggets_20240115:12345:over:athlete:2954:31.5',
    price: 0.65,
    amount: 100,
    market_type: 'FOR_MONEY'
  })
});

const order = await response.json();
console.log('Order placed!', order);

response = requests.post(
    'https://proxy.bettoredge.com/markets/v1/orders/order/place',
    headers={
        'Content-Type': 'application/json',
        'Authorization': f'Bearer {access_token}'
    },
    json={
        'order_context_hash': 'team:lakers_nuggets_20240115:12345:over:athlete:2954:31.5',
        'price': 0.65,
        'amount': 100,
        'market_type': 'FOR_MONEY'
    }
)

order = response.json()
print('Order placed!', order)

Understanding Order Parameters

order_context_hash (required)

The complete hash identifying what you want to trade.

Format: contest_type:contest_id:market_id:side:side_type:side_id:variable

Example: team:lakers_nuggets_20240115:12345:over:athlete:2954:31.5

This means: "LeBron James to score over 31.5 points in Lakers vs Nuggets"

See the Understanding Liquidity guide for how to get this hash.

price (required)

Your limit price - the maximum you're willing to pay per contract.

Format: Decimal between 0.00 and 1.00

Examples:

0.65 = You'll pay up to $0.65 per contract
0.50 = You'll pay up to $0.50 per contract
0.85 = You'll pay up to $0.85 per contract

How it works:

If someone is selling at $0.60 and you bid $0.65, you'll buy at $0.60 (you get the better price)
If no one is selling at $0.65 or lower, your order waits in the market
Other traders see your order and can decide to sell to you

Choosing a price:

Higher price = More likely to fill immediately, but lower potential profit
Lower price = Less likely to fill, but higher potential profit
Check existing liquidity to see current market prices

amount (required)

The total dollar amount you want to invest (your cost basis).

Format: Number (dollars)

Examples:

100 = Invest $100
50 = Invest $50
250 = Invest $250

How contracts are calculated:

Contracts = Amount / Price

Example:

Amount: $100
Price: $0.65
Contracts: $100 / $0.65 = ~153 contracts

If you win:

Each contract pays $1.00
You receive: 153 × $1.00 = $153
Your profit: $153 - $100 = $53

market_type (required)

The type of order you're placing.

Value: "FOR_MONEY"

Important: Currently, the API only supports real USD orders. You must use "FOR_MONEY" as the market_type value. This means you are placing an order with real money from your account balance.

Response

Success Response

{
  "placement_status": "success",
  "message": "Order placed successfully",
  "order_context": {
    "order_ids": ["order_xyz789"],
    "position_ids": ["position_abc123"],
    "title": "LeBron James Over 31.5 Points",
    "price": 0.65,
    "amount": 100,
    "order_context_hash": "team:lakers_nuggets_20240115:12345:over:athlete:2954:31.5",
    "status": "approved"
  }
}

Response Fields

Field	Description
placement_status	Status of the placement: "success" or "failed"
message	Human-readable message about the order
error	(optional) Error message if placement failed
order_context	(optional) Order details if placement succeeded
order_context.order_ids	Array of order IDs created or updated
order_context.position_ids	Array of position IDs created or updated
order_context.title	Human-readable title of the market
order_context.price	Price of the order
order_context.amount	Total amount invested
order_context.order_context_hash	The market identifier hash
order_context.status	Order status: "approved", "cancelled", or "closed"

Order Status

The response tells you if your order placement was successful via placement_status. The actual order status is found in order_context.status:

Approved

Order was successfully placed
Check order_ids and position_ids to see what was created
If position_ids is not empty, you have an active position
If only order_ids exist, the order is resting and waiting to fill

Cancelled

Order was cancelled before executing
No position was created

Closed

Order has been fully executed and closed
All contracts were filled
You have a complete position

Understanding Your Investment

Let's break down an example order:

Order Details:

Order Context Hash: team:lakers_nuggets_20240115:12345:over:athlete:2954:31.5
Price: $0.65
Amount: $100

What You Get:

Contracts: $100 / $0.65 = 153.85 contracts (rounded to 153)
Cost Basis: $100

Potential Outcomes:

If LeBron scores over 31.5 points (you win):

Each contract pays: $1.00
You receive: 153 × $1.00 = $153
Your profit: $153 - $100 = $53 profit (53% return)

If LeBron scores 31.5 points or under (you lose):

Each contract pays: $0.00
You receive: $0
Your loss: $100 loss (100% of investment)

Trading Strategies

Strategy 1: Take Existing Liquidity

Find existing liquidity and match their price for instant execution.

// From available markets API
const liquidity = market.sides[0].liquidities[0];

const order = {
  order_context_hash: liquidity.order_context_hash,
  price: liquidity.price, // Match their price
  amount: 100,
  market_type: 'FOR_MONEY'
};

Pros:

Instant fill
Know exactly what you're getting
No waiting

Cons:

May not get the best price
Limited to available liquidity

Strategy 2: Set Your Own Price

Build your own hash and set a better price.

const order = {
  order_context_hash: 'team:lakers_nuggets_20240115:12345:over:athlete:2954:31.5',
  price: 0.60, // Lower than current market ($0.65)
  amount: 100,
  market_type: 'FOR_MONEY'
};

Pros:

Better price = higher potential profit
You set the terms

Cons:

May not fill immediately
Need to wait for someone to match

Strategy 3: Create New Markets

Trade at lines that don't exist yet.

const order = {
  order_context_hash: 'team:lakers_nuggets_20240115:12345:over:athlete:2954:35.0',
  price: 0.45, // LeBron over 35 points
  amount: 100,
  market_type: 'FOR_MONEY'
};

Pros:

Trade your exact thesis
Potentially unique edge

Cons:

May take time to fill
You're the first liquidity

Common Scenarios

Scenario 1: Order Fills Immediately

You place an order at $0.65, and someone is already selling at $0.63.

Response:

{
  "placement_status": "success",
  "message": "Order placed successfully",
  "order_context": {
    "order_ids": [],
    "position_ids": ["position_abc123"],
    "title": "LeBron James Over 31.5 Points",
    "price": 0.63,
    "amount": 100,
    "order_context_hash": "team:lakers_nuggets_20240115:12345:over:athlete:2954:31.5",
    "status": "approved"
  }
}

Result:

Your order fills at $0.63 (you get the better price!)
position_ids array contains your new position
order_ids is empty because the order filled completely
You have a position immediately

Scenario 2: Order Waits in Market

You place an order at $0.60, but sellers want $0.65.

Response:

{
  "placement_status": "success",
  "message": "Order placed successfully",
  "order_context": {
    "order_ids": ["order_xyz789"],
    "position_ids": [],
    "title": "LeBron James Over 31.5 Points",
    "price": 0.60,
    "amount": 100,
    "order_context_hash": "team:lakers_nuggets_20240115:12345:over:athlete:2954:31.5",
    "status": "approved"
  }
}

Result:

Your order stays open (resting order)
order_ids array contains your resting order
position_ids is empty because nothing filled yet
You're now offering liquidity at $0.60
When someone decides to sell at $0.60, your order fills

Scenario 3: Partial Fill

You place a $100 order at $0.65, but only $60 of liquidity exists at that price.

Response:

{
  "placement_status": "success",
  "message": "Order placed successfully",
  "order_context": {
    "order_ids": ["order_xyz789"],
    "position_ids": ["position_abc123"],
    "title": "LeBron James Over 31.5 Points",
    "price": 0.65,
    "amount": 100,
    "order_context_hash": "team:lakers_nuggets_20240115:12345:over:athlete:2954:31.5",
    "status": "approved"
  }
}

Result:

Both order_ids and position_ids are populated
Part of your order filled → You have a position
Part of your order is resting → Waiting for more liquidity
You have both a position and an open order

Best Practices

Check Your Balance - Make sure you have enough funds before placing orders
Review the Hash - Double-check your order context hash is correct
Price Wisely - Look at existing liquidity to understand market prices
Start Small - Place smaller orders while learning
Monitor Status - Check if your order filled or is still open

Next Steps

After placing your order:

Check Your Portfolio - View your positions and P&L
Get Your Balance - See your available funds
Manage Open Orders - Cancel or modify orders (coming soon)

Common Questions

What happens if my order doesn't fill?

Your order stays open in the market until:

Someone matches your price
You cancel the order
The market closes/settles

Can I cancel an open order?

Yes! You can cancel open orders that haven't filled yet (API documentation coming soon).

What if I want to sell instead of buy?

Selling positions will be covered in an upcoming guide. Selling creates liquidity on the opposite side.

How do I know if my price is good?

Check the liquidities array in available markets to see current prices. If you want to fill immediately, match or beat those prices.

Need help? Check out the Orders API Reference for detailed endpoint documentation.

Prerequisites​

What is an Order?​

How Orders Work​

Placing an Order​

API Request​

Understanding Order Parameters​

order_context_hash (required)​

price (required)​

amount (required)​

market_type (required)​

Response​

Success Response​

Response Fields​

Order Status​

Approved​

Cancelled​

Closed​

Understanding Your Investment​

Trading Strategies​

Strategy 1: Take Existing Liquidity​

Strategy 2: Set Your Own Price​

Strategy 3: Create New Markets​

Common Scenarios​

Scenario 1: Order Fills Immediately​

Scenario 2: Order Waits in Market​

Scenario 3: Partial Fill​

Best Practices​

Next Steps​

Common Questions​

What happens if my order doesn't fill?​

Can I cancel an open order?​

What if I want to sell instead of buy?​

How do I know if my price is good?​

Prerequisites

What is an Order?

How Orders Work

Placing an Order

API Request

Understanding Order Parameters

order_context_hash (required)

price (required)

amount (required)

market_type (required)

Response

Success Response

Response Fields

Order Status

Approved

Cancelled

Closed

Understanding Your Investment

Trading Strategies

Strategy 1: Take Existing Liquidity

Strategy 2: Set Your Own Price

Strategy 3: Create New Markets

Common Scenarios

Scenario 1: Order Fills Immediately

Scenario 2: Order Waits in Market

Scenario 3: Partial Fill

Best Practices

Next Steps

Common Questions

What happens if my order doesn't fill?

Can I cancel an open order?

What if I want to sell instead of buy?

How do I know if my price is good?