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Placing Your First Bet

Ready to start trading? This guide walks you through placing your first bet on Public Wager, step by step.

Before You Start​

Make sure you have:

  • ✅ Created and verified your account
  • ✅ Added funds to your wallet
  • ✅ Found a market you want to trade

New to prediction markets? Read How Prediction Markets Work first.

Understanding the Trade Interface​

Market Overview​

When you open a market, you'll see:

  • Question: What event you're predicting
  • Current Prices: YES and NO share prices
  • Resolution Date: When the market closes
  • Your Position: Your current holdings (if any)

Trading Panel​

The trading panel lets you:

  • Choose YES or NO
  • Enter the amount to trade
  • See your potential profit/loss
  • Review fees
  • Confirm your order

Step-by-Step: Placing a Bet​

Step 1: Choose Your Outcome​

Decide what you're betting on:

  • Click YES if you think the event will happen
  • Click NO if you think it won't happen

The button will highlight your selection.

Step 2: Enter Your Amount​

You can specify your trade in two ways:

Option A: Enter Dollar Amount​

Type how much money you want to spend:

Example: $100

The interface will calculate how many shares you'll receive.

Option B: Enter Number of Shares​

Type how many shares you want to buy:

Example: 150 shares

The interface will calculate your total cost.

Step 3: Review Your Order​

Before confirming, check:

  • Outcome: YES or NO (double-check!)
  • Quantity: Number of shares
  • Price per share: Current market price
  • Total cost: Amount you'll pay
  • Potential return: Maximum profit if correct
  • Fees: Trading fees (see breakdown)

Example Order Summary​

Market: Will Bitcoin reach $100,000 by Dec 31, 2025?
Outcome: YES
Shares: 100
Price: $0.42 per share
---
Subtotal: $42.00
Trading Fee (2%): $0.84
Total Cost: $42.84

Potential Payout if Correct: $100.00
Potential Profit: $57.16

Step 4: Confirm Your Trade​

Once you've reviewed everything:

  1. Click Place Bet button
  2. Confirm the transaction in the popup
  3. Wait for confirmation (usually instant)

You'll see a success message and your order details.

After Placing Your Bet​

Order Confirmation​

You'll receive:

  • ✅ On-screen confirmation message
  • 📧 Email receipt (if enabled)
  • 📊 Updated portfolio view

View Your Position​

Your new position appears:

  • In your Portfolio
  • On the Market page under "Your Position"
  • In your Trade History

What Happens Next​

Your shares are now in your portfolio. You can:

  • Hold: Keep until market resolves
  • Sell: Exit early if price changes
  • Add More: Buy additional shares

Understanding Order Types​

Market Orders (Default)​

  • Executes immediately at current price
  • Guaranteed fill - order always completes
  • Price varies based on current market
  • Best for: Quick entry/exit

When to use: You want to get in now and current price is acceptable.

Limit Orders (Advanced)​

  • Sets maximum/minimum price
  • May not fill immediately
  • Better control over execution price
  • Best for: Patient traders, specific price targets

When to use: You want YES shares but only if they drop to $0.40 or below.

Trading Tips for Beginners​

Start Small​

Don't risk too much on your first trades:

  • ✅ Use 1-5% of your wallet per trade
  • ✅ Start with markets you understand well
  • ✅ Learn from small wins and losses

Do Your Research​

Before placing a bet:

  • 📖 Read the full market description
  • 📊 Check recent news on the topic
  • 💬 Review community comments
  • 📈 Study the price chart history

Understand the Timeline​

Consider when the market resolves:

  • Short-term (days/weeks): Less time for surprises
  • Medium-term (months): Balance of time and certainty
  • Long-term (6+ months): More uncertainty, more volatility

Check Liquidity​

Make sure there's enough trading activity:

  • High volume: Easy to buy and sell
  • Low volume: May have trouble exiting
  • Order book depth: Shows available liquidity

Common Mistakes to Avoid​

❌ Betting Too Much​

Problem: Risking funds you can't afford to lose

Solution: Never bet more than 5-10% of your wallet on one market

❌ Ignoring Fees​

Problem: Not accounting for trading fees in profit calculations

Solution: Always review the fee breakdown before confirming

❌ Emotional Trading​

Problem: Betting on what you want to happen, not what will happen

Solution: Be objective. Bet with your head, not your heart.

❌ Not Reading Criteria​

Problem: Misunderstanding how the market resolves

Solution: Always read the full resolution criteria before trading

❌ Panic Selling​

Problem: Selling at a loss due to short-term price swings

Solution: Have a plan. Know when you'll hold and when you'll exit.

Advanced: Calculating Expected Value​

Expected Value (EV) Formula​

EV = (Probability of Win × Profit) - (Probability of Loss × Loss)

Example Calculation​

Market: "Will it rain tomorrow?"

  • Current price: $0.60 (60% implied probability)
  • Your research: You believe it's 75% likely
  • Your bet: 100 shares at $0.60 = $60
If correct: $100 payout - $60 cost = $40 profit
If wrong: $0 payout - $60 cost = -$60 loss

EV = (0.75 × $40) - (0.25 × $60)
EV = $30 - $15
EV = +$15 (Positive EV - good bet!)

Positive EV = Market underprices your outcome Negative EV = Market overprices your outcome

Order Status and Errors​

Order Status​

Track your orders:

  • Pending: Being processed
  • Filled: Successfully completed
  • Partially Filled: Some shares bought/sold
  • Cancelled: Order cancelled by you
  • Rejected: Failed to execute

Common Error Messages​

"Insufficient Balance"​

Cause: Not enough funds in wallet

Fix: Deposit more funds or reduce order size

"Market Closed"​

Cause: Market has resolved or trading paused

Fix: Find an active market

"Order Size Too Small"​

Cause: Minimum order requirements not met

Fix: Increase your order size (usually $1 minimum)

"Price Changed"​

Cause: Price moved while you were placing order

Fix: Review new price and resubmit if acceptable

Mobile Trading​

Trading on Mobile​

The mobile interface offers:

  • Full trading functionality
  • Streamlined order entry
  • Quick portfolio access
  • Push notifications for order fills

Mobile Tips​

  • Use landscape mode for better chart viewing
  • Enable Face ID/Touch ID for quick access
  • Set price alerts for markets you're watching
  • Check positions before major news events

Next Steps​

Congratulations on placing your first bet! Now:

  1. Learn to Sell Shares - Exit positions strategically
  2. Manage Your Portfolio - Track performance
  3. Understand Fees - Know the costs

Need Help?​

Ready to learn about buying and selling? Continue to the next guide →