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