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What's the difference between a make order and a take order?
What's the difference between a make order and a take order?
Updated over a week ago

On Novig, you have two main ways to place orders: Make and Take.

Take Orders

Taking liquidity means accepting an existing position that's already available on the market.

  • Immediate execution: Your order is filled right away at the displayed price

  • Convenience: Perfect when you want quick confirmation of your position

  • Typically less favorable pricing: You accept the current market price, compared to make orders which give you an option to set your own price

Make Orders

Making liquidity means creating a new position at your desired price point that must be matched by another user.

  • Better pricing: Set your own price point rather than accepting what's available

  • Waiting period: Your order goes into the market and waits to be matched on the opposite side

  • Customizable duration: You decide how long your order stays active

When to Use Each Type

Consider a Take Order When:

  • You want immediate confirmation

  • The current market price meets your expectations

  • You're trading during fast-moving in-play/live events

Consider a Make Order When:

  • You're looking for better pricing

  • You have a specific price target in mind

  • You're planning ahead and can wait for a match on the opposite side

Understanding Make vs. Take

Let's say the current market prices for an NFL moneyline market are:

  • Eagles: -125

  • Giants: +117

Take Order:

If you decide to place a take order on the Eagles at -125, you're immediately accepting the current market price. Your order executes instantly because you're taking the existing position offered in the market.

Make Order:

Instead of accepting the current market price, you decide to place a make order for the Eagles at -120 (better than the current -125 market price).

When you place this make order backing the Eagles at -120, you're simultaneously offering the reciprocal odds for someone else to take. This means you're creating the opportunity for someone to back the Giants at +120 (instead of the current +117).

Your make order will sit in the order book until someone decides to take the other side of your trade. If someone places a take order on the Giants at +120, your orders will match and both will be executed.

In Review

  • Make orders always have reciprocal counterparts (like -120 and +120)

  • When someone places a take order that matches your make order's price, both orders execute

  • Two make orders with complementary prices will match instantly

  • For example, if one user places a make order on Eagles at -120 and another user independently places a make order on Giants at +120, these orders would match immediately

Pro Tips

  • Check order duration carefully: Make sure you understand when your make orders will expire - for more information, check out this article

  • Monitor live game status: Remember that game status changes will affect your outstanding make orders

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