A Conditional Bet is a feature that allows you to place a Back or Lay bet on the market when the best available odds reach a specified target value. In practice, it allows you to schedule an order for execution at a later time when placing it immediately would result in an instant match. The matching conditions will therefore be less favorable than the current ones, but this feature allows the bet to be placed only if the market moves against your position, helping to protect your profit/loss.

This type of bet can be used, for example, to set a Stop Loss.

For details on how to place this type of bet on the Ladder, see the dedicated page.

A conditional bet is characterized by two odds:

- activation odds: the odds that, if reached by the best market odds, activate the execution of the order
- placement odds: the actual odds at which the order will be placed.

In the Conditional Bet Confirmation window, you can specify the Bet Type, the value less than or equal to the available odds that will trigger the bet, the Placement Odds, and the Stake to use for the bet.

You can also enable the option that allows Betting Toolkit to follow the best odds, automatically adjusting the available odds and placement odds as the odds naturally move while the market is open.

If bet confirmation is not active, the conditional bet order is set in the market with the activation odds equal to the placement odds. If confirmation is active, the confirmation window allows you to specify different placement odds for greater security, ensuring the order is executed even in high market volatility. If the placement odds differ from the activation odds, the ladder will show two differently colored cells indicating the two odds.

Odds Following Function
As mentioned, you can instruct Betting Toolkit to automatically adjust the conditional bet odds to follow the market trend. The adjustment only occurs in the favorable direction and does not compromise the Stop Loss function. For instance, suppose you have placed a back bet and subsequently set a stop loss with a lay conditional bet. If the market odds (best available back odds) decrease, the stop loss will adjust to correspondingly lower values. If the market moves in the opposite direction and the odds increase, the stop loss will remain where it was set to protect your position from more significant losses.

Once created, the Conditional Bet will appear on the ladder and in the "Pending" list in the Market Window.