One of the newest forms of online gambling is being hailed as the next big thing. Spread betting allows for the wagering of pre-determined amounts on the outcome of real-world events such as sporting matches, etc.
Traditional sportsbooks tend to hoard revenue and take a long time to pay out wins. This has led to a gap in the market for people who want to bet on sports but don’t want to wait for payments to be processed. This is where spread betting comes in.
Let’s take a quick look at how spread betting works and the different types of spreads that are available for wagering.
How Does Spread Betting Work?
The concept of spread betting is relatively simple. For those who have a love for sports but don’t want to commit to watching every game, spread betting allows you to engage in fantasy sports through the medium of wagering. Essentially, you predict the outcome of an event (e.g. the winner of the next soccer game) and place bets on the parameters you deem most likely to produce a profitable outcome (e.g. if you think soccer games between England and Scotland will be close, you might want to place a small wager on the outcome of those games).
As the name would suggest, spread betting allows you to spread the risk and affect of losing a bet. For example, if you bet $100 on the Seattle Seahawks and they win, you stand to gain $200 in winnings. However, if the Seahawks lose, your loss is capped at $100.
The beauty of spread betting is that most books will allow you to bet on nearly any sporting event, past or present, making it easy to find games which are suitable for betting. Also, most sportsbooks now accept wagers placed through mobile phones making it possible to wager on events wherever you happen to be. For a more detailed description of how spread betting works, check out this helpful hub from financial blog Expert Advisor:
How Does Spread Betting Work? A Beginner’s Guide
Types Of Spreads Available For Betting
There are several types of spreads available for betting and they vary in how they work. For those who are unfamiliar, a spread is simply the betting on the outcome of two or more events with a spread maker (house edge is usually between 2-5% depending on the sport and the amount wagered).
One of the most popular types of spreads is the parlay. This is where you bet on the outcome of multiple events with a collective total combined weight. For example, if you think the New York Yankees will beat the Boston Red Sox in the upcoming game, you could place a $100 bet on the Yankees winning and a $100 bet on the Red Sox losing. If the Red Sox win, you would earn a $200 profit while the Yankees win $100 and you would lose the $100 you wagered on them losing.
An evenly matched couple of teams, the Dallas Cowboys and the Oakland Raiders, are known to be among the top five most popular parlay spreads in the UK. If you’re looking to get in on the action and want to increase your odds of winning, try entering some of these into your bet slip at a bookmaker.
When To Bet On Sports
You don’t necessarily have to wait for an event to take place before placing a bet on the outcome. Most sportsbooks that offer spread betting will accept bets placed at any time during the year so long as the game is still in progress or has at least been decided (in the case of college and pro football).
It’s generally best to bet on sports when there’s lots of action. This is because the odds are usually better and it means there will be more opportunities to win. For this reason, many gamblers like to place their bets on sporting events that are televised live. This is usually the case for major league baseball, college football, and college basketball. These are the sports where viewers can keep track of the game via various internet streams so there will always be something going on.
Another reason to bet on sports is to try and predict the outcome of a game. You likely assume that the majority of sportsbooks would want to create a market for the outcome of sporting events, but the truth is they usually want to minimize their losses and make as much money as possible so try finding books that allow this. It’s also a great way to make money if you can correctly guess the winner of a game before the outcome is known. In some cases, you might find it more profitable to bet on the over/under of a total number of points scored in a matchup rather than an individual game.
Which Sports To Bet On?
It’s important to determine which sports you should bet on and which ones you should avoid. The best approach is to look at your preferred sports and the kind of events they produce and try to determine which ones are most suitable for spread betting. The worst thing you can do is to bet on a sport you know nothing about, especially since most books will not allow this. If you have a love for golf and you think the British Open is likely to be close, you might want to take a look at golf betting.
As for which sporting events to avoid, there are several. These are the types of events that you should absolutely not bet on:
- Premier League Soccer
- NHL Hockey
- NFL Football
- NCAA Football
- La Liga Soccer
- Australian Football League
- Billion Dollar Baseball
- American Football
There are also several types of sporting events that you can safely bet on. For example, if you think the Superbowl will be close, you can probably put your money on the winning team without risking too much on the outcome. Other events such as horse racing and greyhound racing are relatively low-risk sports to bet on. You can also bet on tennis, cricket, and car races to an extent, but these are often considered to be “hobby” sports and you should avoid betting large sums on them. In almost all cases, you should avoid betting on your favorite team losing. This is typically a very risky strategy and it can quickly turn into a losing one.
If you’re looking to get into the habit of betting on sports, start small. Many books will not allow you to bet more than $2 on most sporting events so try finding one that does. Also, make sure you are physically located in the UK before placing a bet on an American sporting event as the odds will be different and may not be favorable to you.