What are open and covered bets.

To bet on Fairlay you always need to find someone who bets against you. It is like selling stuff on ebay - you need a seller and a buyer. A open bet is a bet without a counterpart yet. Als long it is open it is possible to cancel the bet and get the amount refunded. It might be that parts of your bet are covered and parts are open. As soon as your bet is covered the bet is aktive.

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