Binary Bets

Binaries are the exciting new way to bet on financial events: fast-moving yes/no propositions on an index from 0-100.

IG Index were the inventors of Binary betting, and continue to lead the way with more Binaries on more markets than anyone else.

How Binary betting works

Binaries are a special type of bet that allow you to trade on the performance of a financial market over a specific time with only two possible outcomes, either settling at 0 or 100.

For example, there might be a Binary quote on whether the FTSE 100 will settle up on the day. If the event occurs (in this case, FTSE settling at a higher price than the previous day's close) the bet settles at 100; if it does not, the bet settles at 0. These are the only two possible settlement prices.

Binary betting brings even the slowest moving markets to life. Small movements in the underlying market are magnified in the Binary price, particularly in the period just before expiry, and yet your level of risk is always certain. This makes the Binary bet attractive for those aiming to make a high-gain from short-term betting.

Binaries give you a simple win-lose proposition, just like a traditional fixed-odds bet. Except that you can also close your bet out before the final settlement, to cut your losses or take your profit early, because instead of quoting odds, the quote is a continuous two-way price for every Binary bet.

You should note that Binary Trading is not subject to regulation by the Financial Services Authority. See below for information on responsible gambling. In respect of Binary Bets, IG Index plc is licensed and regulated by the Gambling Commission. License number 066-002628-R-103649-002.

Responsible Gambling

Hargreaves Lansdown and IG Index are committed to providing clients with a secure, fair and socially responsible service.

Therefore there are a number of measures and features to reassure clients and assist them in gambling responsibly.

Self-exclusion

On requesting self-exclusion, your account(s) will be closed for a minimum period of six months. It will not be possible for the account(s) to be re-opened during this exclusion period, and IG Index will endeavour to prevent new accounts being opened. Should a client wish to re-open their account, after the period of self exclusion has elapsed IG Index will invoke a one-week 'cooling off' period on receipt of written instruction before allowing access to gambling facilities.

An account that is simply 'closed' can be re-opened by the client at any time. Clients may contact IG Index to request self-exclusion by writing or by email or telephone.

Access to client history

Clients can easily access a full history of transactions, deposits and withdrawals. A client's balance is always available when logged in to the site.

Staff training

IG Index's client service staff receive training so they are fully aware of the issues of problem gambling.

Maintaining control

Whilst the majority of people do bet within their means, for some gambling can become a problem. It may help you to keep control by following these guidelines:

Gambling should be entertaining and not seen as a way of making money 

• You should establish limits for deposits, stakes and even losses before you start gambling
• Avoid chasing losses
• Only gamble what you can afford to lose
• Keep track of the time and amount you spend gambling
• If you want to have a break from gambling you can use the self-exclusion measure

If you need further help or to talk to someone about responsible gambling then contact one of the appropriate organisations, whose details are listed below:

• Gamblers Anonymous: www.gamblersanonymous.org
• GamCare: www.gamcare.org.uk or UK helpline 0845 6000 133

Problem gambling

If you are concerned that gambling may be having a negative impact on your (or someone else's) life, then the following questions may help you find out:

• Do you stay away from work, college or school to gamble?
• Do you gamble to escape from a boring or unhappy life?
• When gambling and you run out of money, do you feel lost and in despair and need to gamble again as soon as possible?
• Do you gamble until you lose all your money?
• Have you ever lied to cover up the amount of money or time you have spent gambling?
• Have others ever criticised your gambling?
• Have you lied, stolen or borrowed to maintain betting habits?
• Have you lost interest in your family, friends or hobbies?
• After losing, do you feel you must try and win back your losses as soon as possible?
• Do arguments, frustrations or disappointments make you want to gamble?
• Do you feel depressed or even suicidal because of your gambling?

The more you answer 'yes' to these questions, the more likely you are to have a serious gambling problem. To speak to someone about this, please contact one of the appropriate organisations listed above.

Underage gambling

It is against the law for those under the age of 18 to open an account and bet with IG Index. We take our responsibilities in this regard very seriously. IG Index carry out age verification checks on all clients who use payment mechanisms available to children. IG Index reserve the right to ask for proof of age from any client, and client accounts may be suspended until satisfactory proof of age is provided or if we think the account may be being used by someone under the age of 18. Anyone under the age of 18 found to be using this site will have any winnings forfeited and also will be reported to the police.

Filtering systems

If you share your computer with friends and family who are under the legal age to register or bet with our site or if you believe that you may have a gambling problem, there are a number of third party applications that can be used to monitor or restrict the computer's access to the internet:

• Net Nanny filtering software protects children from inappropriate web content: www.netnanny.com
• Cyberpatrol safety software enables control of internet access: www.cyberpatrol.com
• ICRA filtering software can disallow access to inappropriate websites: www.icra.org
• CYBERsitter filtering software allows parents to add their own sites to block: www.cybersitter.com