The Place Bet Action is used, as the name suggests, to place a bet on the market. The parameters to be configured for this Action are described below.

Market
- This Market: the conditional bet will be set on the same market to which the strategy is applied.
- Other market of this event: the conditional bet will be set on the specified market, belonging to the same event as the market to which the strategy is applied.

Selection
You can specify the selection (or selections) on which to place the bet as follows.

Choose whether to place the bet on:

• The specified selection
• All selections
• All selections except the specified selection

In the second case, there is no need to specify a selection, as the bet will be placed on all selections in the market. In the first and third cases, however, a specific selection must be specified.

The selection is identified using one of the selection criteria for an Action or Condition listed here.

Action
- Back
- Lay

Bet Price
The bet odds can be specified in several ways, see the dedicated page.

Stake
In this box, you must indicate the amount you wish to bet. The stake can be indicated as:

• Fixed
• % of bank
• % of balance. The current balance is equal to the bank minus the exposure.
• Preset Value: in this case, one of the Preset Values of the Stake Type defined in the strategy must be indicated.
• Formula: for variables that can be used in the formula, refer to the page related to the Formula Condition.
  There are two variants for this type of option:
  - the formula can be evaluated on the market to which the strategy is applied by using Formula (This Market).
  - if the Place Bet Action is executed on another market, the formula can be evaluated on that market by using Formula (Target Market).
  If the Action is executed on This Market, the two options described above are equivalent.
• Stored Value: specify the name of a Decimal-type Stored Value and indicate where it is stored (Selection, Market, Strategy, Application). Only Stored Values of the Decimal type will be considered.

If a back bet is placed, it is possible to select the Profit option. In this case, the amount will indicate how much you wish to win in the event of a winning bet.

If a lay bet is placed, it is possible to select the Liability option. In this case, the amount will indicate how much you accept to lose in the event of a losing bet.

Trading
It is optionally possible to associate a closing bet with the placed bet. This bet will be triggered if the main bet has been matched. If the matching is partial, the closing bet will be triggered proportionally.

Stop loss
A pending Stop Loss bet can optionally be associated with the placed bet. This bet will be submitted if the main bet has been matched and the Trigger Odds are reached. It will be placed at the Placement Odds.

The Trigger Odds and Placement Odds are defined relative to the placement odds of the main bet using one of the following methods:
Ticks
Odds Change:
The change is expressed as an odds value. For example, if the odds are 2.00, a change of 0.20 will result in odds of 2.20 for a Back bet and 1.80 for a Lay bet. If the resulting odds do not exist in the order book, the nearest valid odds will be used.
% Odds
% (Odds - 1)
The Stop Loss can optionally follow the movement of the order book odds when they move in a direction favorable to the trading position. To enable this feature, activate the Follow option.
For pending Trading or Stop Loss bets, when the Smart option is enabled, the closing amount, instead of being equal to the stake of the bet, is calculated so as to equalize profits or losses across the different selections.

Fill or Kill
Two alternative types of Fill or Kill can be specified:
Timed Fill or Kill: if the bet is not matched within the specified time, it is cancelled from the market.
Instant Fill or Kill: if sufficient matching liquidity is immediately available in the order book, the bet is executed. If the bet cannot be fully matched immediately against the available liquidity, it is cancelled immediately.

Persistence
The persistence of a bet determines how it is handled when the market is suspended. There are three possible behaviors when the market reopens after a suspension, depending on the selected persistence option:
NONE: the bet is cancelled when the market reopens.
KEEP: the bet is retained after a suspension.
TAKE SP: this option is available only for markets where Starting Price betting is supported. In this case, when the market goes In-Play, the bet is executed at the Starting Price.

Tag
A tag can be assigned to generated bets so that they can be identified and selectively cancelled using the Cancel Bet(s) Action.