When you have a position or open order on an outcome, you’re not able to trade the opposite side of that outcome until you’ve closed out your position and/or canceled your open order(s).
The reason is quite simple; we want to simplify your experience. If you’re trying to buy both sides of an outcome, what you’re actually doing is reducing your risk.
Let’s say you buy 1 share of the MIA Heat to beat the LA Lakers pre-game at $60. It’s now late in the fourth quarter, and you see that you could sell the Heat to Win at $90 or buy the Lakers to Win at $10.
If you think about it, selling the Heat at $90 is the exact same as buying the Lakers at $10. In both circumstances, you’re locking in $30 of gross profit. So, Sporttrade is simplifying your experience by eliminating your open position on the Heat, and allowing you to use your original $60 plus your $30 profit (minus commission).
Why do sportsbooks allow me to bet on both sides?
On a Sportsbook, if you bet $60 on the Heat at 60% (-150), and then later bet $10 on the Lakers at 10% (+900), the sportsbook would hold your entire $70 of bets until the game ended. With Sporttrade, we’re simplifying your experience.
*Exchange wagering is not yet available in Colorado