An upbet can only win or lose at the moment the bet expires and not at any time leading up to the expiry of the bet.
Examples of upbets are:
1. Will the price of the CBOT US Sep 10 year Notes future be above $114 at 1600hrs on the last trading day of August?
2. Will the Dow Jones Index be above 12,000 at 1600hrs on the last trading day of the year?
3. Will the LIFFE Euribor Dec/Sep spread be above 10 ticks at settlement on the last day of November?
4. Will a non-farm payroll number be above +150,000?
Examples 1, 2 & 3 enable the bettor to make a minute by minute assessment of the probability of the bet winning. Example 4 is a number (supposedly) cloaked in secrecy until the number is announced ...