The term 'BETS' is an acronym for 'Binary Electronic Trading System', which is a computerized system used to facilitate the trading of financial instruments such as stocks, bonds, and derivatives. This system allows traders to place orders electronically, which can be executed quickly and efficiently. The system also provides access to real-time market data, allowing traders to make informed decisions about their trades. BETS is used by many financial institutions and is becoming increasingly popular due to its convenience and efficiency.