If you’re somebody that enjoys watching and betting on sports, you probably stick to the more traditional and well-known win/lose or fixed odds type of betting. For example, you may bet on the outcome of a particular match, the first goal scorer, a horse to win a particular race or the outcome of several events in the form of an accumulator.
However, more and more people are now opting to try their luck at what is commonly known as Spread Betting. So, what exactly is spread betting? What are the best betting sites to use? And, are there any tips for being a successful spread better?
What is Spread Betting?
As mentioned, spread betting differs from traditional betting as you are not simply betting on the outcome of an event, you are betting on the accuracy of the wager. In layman’s terms, a ‘spread’ refers to the range of outcomes, and the bet is you stating whether or not you think that the outcome will be above or below the spread.
Still following? Good. There are two sides to this type of bet, the sell option or the buy option. For example, take football. If a site is quoting there will be a total of two goals in a match, you can choose to sell or buy, depending on what you think the actual amount of goals will be, and you can stand to make a healthy profit if your instincts turn out to be correct.
Far from just being a sports-based betting type, spread betting is very popular when it comes to betting on financial markets – simply because there is great scope for big winnings, if you know your stuff. But, of course, where there is scope for big wins, there is also scope for big losses, so spreading bets is not something to be taken lightly and shouldn’t be done without prior thought and research.
Sports Spread Betting Tips
In terms of sports spread betting tips, it’s always super important that you understand what your potential losses might be if you lose the bet, instead of focusing too much on your potential winnings. That’s because you could actually end up losing more than your initial stake if your bet is unsuccessful. That’s why it’s always vital that you work out your worst case scenario, before placing the bet.
Always try and bet on markets your familiar with- spread betting is not something to be taken lightly and it is not the right form of betting if you don’t know much about that particular sport or event. Also, if you’re going to do this on bet in play markets, try to ensure you can actually watch the event, that way, you’ll be best placed to ensure you can get your bets on at the right time.
Perhaps the most important thing to remember about spread betting, is to stick to your plans and don’t get too impulsive should you enjoy a few wins or suffer a couple of losses. As we stated earlier, there is more at risk than just your original stake, so, higher stakes could mean increased losses, should the bet not go in your favour. There is a way you can limit your losses, in the form of a guaranteed stop. This is when you pay a broker to ensure your losses don’t exceed a certain amount – however, it will cost you more.
How to Spread Bet on Sporting Events?
Spread betting on sporting events can be a little confusing, if it’s something you haven’t done before, but it’s actually something that has been pretty popular since the late 1980s. It is increasingly popular amongst punters do to the simple fact the ‘the more right you are, the more you stand to win – so if you’re particularly knowledgeable, then it could be pretty fruitful.
The whole point of it is to bet on whether or not the outcome of the selected event will be higher or lower than the spread put on by the bookmaker. The amount of profit or loss then made will determine on the initial stake, multiplied by the amount of unit points above or below the gambler’s bet level.
Have a look at some of these different markets below if you are interested in the different sports you can bet on:
One of the most popular sporting events for spread betting is the total points in a season market. For example, a company may advertise a spread on Barcelona finishing on 76-77.5 points. If you were to ‘buy the spread’ at £1 per point and Barcelona finished on 84 points, you’d win £6.50 – which equates to £1 for the point and 50p for the half point. However, if they finished on 75 points, you’d stand to lose £2.50.
Best Sites for Spread Betting on Sport
Currently, there are a number of sites you can use for spread betting on sport. Perhaps the most well-known is Spreadex, as they focus entirely on spread bets, as opposed to the more traditional forms of betting on sites such as William Hill, Ladbrokes and Coral.
Formed in 1999, Spreadex has won a multitude of awards, including being named best spread betting firm for customer service, three times in a row. Currently, Spreadex offer markets on all of the most popular sports you can think of, including Football, Golf, Horse Racing, Cricket, Rugby Union and more.
As well as Spreadex, sites such as Betfair and Sporting Index also feature on the list of some of the best sites for spread betting on sport.
Spreading Your Bets Online
If you like the sound of spreading your bets online and are considering signing up to one of the best sites for spread betting on sport, be sure to remember to do your research before committing.
As mentioned previously, spread betting is considered more specialised than regular betting, as you stand to lose more than just your original stake if you lose the bet. That being said, spreading bets can also be a way of making a pretty penny – but as always, proceed with caution and remember to bet responsibly at all times.