What is Bid, Match, Liquidity, and Role of Pricing In An Event
Introduction
Most people interact with live events for fun and engagement with their friends and family and also exchange each other thoughts and opinions on diverse topics, including, political views, sports live matches, entertainment controversies, and more. These predictions probably match the outcome of the event, these processes will build your knowledge and engage with others.
YesNo is a skill-based gaming platform that offers to predict live matches and trending topics and based on the result and users' predictions provide rewards. Effective involvement in these platforms requires an understanding of fundamental ideas such as bidding, matching, liquidity, and price. In this blog, let’s discuss more about the YesNo game while understanding its Bid, Match, Liquidity, and pricing of the event.
Bid and Match in An Event
In the YesNo skill gaming platform, a bid offers a specific price to put your opinion on any particular outcome of an event. You are expressing your opinion on the result of the event and offering a price that you are willing to pay or accept for that position when you put in a bid.
These bids will match your opinion to the other user's opposite opinion and the value of the event to both sides will be a sum of 10. For example, In the live Cricket match between India and Pakistan, You think that India will win and bid your opinion on the option of “Yes” at the price of 7 Rs. On the other hand, other users will put their bid on the option of “No” at the price of 3 Rs.
Then your order will be matched and based on the outcome, you will get your rewards. This matching system makes a smooth prediction gaming experience possible that guarantees both parties for their transactions.
Also Read: How To Get To Know About The Pricing Of An Event In YesNo
What is Liquidity In YesNo
When you get to see a higher number of liquidity that means there are many active bids and participants available, which makes it easy for users to enter exit positions. Liquidity is essential in skill gaming platforms because it guarantees that users may effectively match their bids with those of others, creating a dynamic and responsive predictive environment.
Role of Pricing In An Event Of YesNo
Pricing is crucial since it affects choices and the possibility of earning rewards. Important terms about pricing include:
The best price at which you may now purchase or sell a position is known as the best available price or BAP. Users can make well-informed decisions about joining or leaving positions by keeping an eye on the BAP.
The price at which the most recent user was completed is known as the Last Traded Price (LTP). The LTP can reveal patterns or changes in sentiment and provide information about the market's current assessment of a specific position.
To determine the appropriate price, one must analyze these metrics in intersection with market trends and live events. These prices of an event and especially on the risky questions, the more prices bid will enhance the chances of matching to the other users and winning the profits from your investment.
Features and Prediction Methods In YesNo
YesNo provides an easy-to-use platform with features that improve the experience of playing skill games. In addition to allowing users to trade on events they are enthusiastic about and receive fast information on events and market movements, YesNo allows users to explore a wide range of topics, including news, sports, entertainment, and more. This helps users make well-informed decisions.
Placing a Bid on a Live Event
To place a bid on a live event, follow these steps:
- Get the YesNo app and register with your mobile number to begin their prediction quest, new users are given a sign-up bonus.
- Look for an event that aligns with your interest by browsing through different categories like sports, news, or entertainment.
- Examine the question or statement that goes with a certain incident.
- Choose 'Yes' or 'No' to indicate your prediction about the event's resolution.
- Choose the quantity you want to trade and the price you're willing to pay per unit.
- Put in your bid and watch for a counterparty with a different opinion to match it.
Matching Other Trader’s Bids
The system matches your bid with that of another trader who holds a different view after you've put it. A balanced and effective market is made possible by this automated tool, which guarantees that both sides have counterparties for their deals.
Comprehending Pricing and Liquidity Measures
Successful prediction gaming requires keeping an eye on pricing indicators like BAP and LTP as well as liquidity. While knowledge of current prices aids in formulating competitive offers, high liquidity guarantees that your bids are more likely to be matched quickly.
Conclusion
Effective use of the YesNo skill gaming platform requires a solid understanding of the concepts of bidding, matching, liquidity, and pricing. Users can be further improved by making use of the platform's features and instructional materials, which will empower them to make wise choices and participate with assurance in the ever-changing world of predicting future events.
