If you’re new to betting then you might not know what spread betting is. Essentially spread betting is where you put a stake on one team and if they win the bet you lose your stake, but if they lose you make some money. For example, you might stake £10 on Manchester United to win the Premier League this year and if they do in fact win the league then you will have earned £20. You might also place bets on international matches or other sporting events like horse racing or tennis.
While you might not have heard much about spread betting in mainstream media, it is a very popular way to bet among millennials. According to a survey by LendLearn, 83% of Americans between the ages of 18-29 used spread betting in 2018. The generation grew up watching the betting patterns of their parents and older siblings, inspiring them to try the popular betting method for themselves.
Key Differences Between Spread Betting And Traditional Betting
One of the more popular online betting destinations for Canadians is Bet365. In the UK you can also bet online at bet365, but only if you are based there. If you live in Canada, you can also bet on NFL games online at bettor.ca. Apart from allowing you to place bets on events that take place outside of Canada, this website also offers NHL, NBA, and FIFA games. If you want to engage in some NHL betting then you’ll need to visit one of the Canadian bookmakers specifically designed for hockey fans.
As the name would suggest, traditional betting is when you stake on the outcome of an event. Most people are familiar with betting on the outcome of a match, or horse racing for that matter. With traditional betting you are either winning or losing depending on the event. For example, if Manchester United is playing Liverpool and you stake on a Manchester United win, then even if Manchester United loses you still have your stake. Should Manchester United win the match you will have earned £10, but if they lose you will have £0.
With traditional betting, you are always aware of what you are risking. The ups and downs of the sport are always revealed in advance. In some cases this might result in financial risks, as you could potentially lose more money than you win. For example, if you are betting on the New York Mets and they lose the match 10-0, then you will have lost £100. In a case like this, you might consider the risks of traditional betting simply aren’t worth it.
Why Spread Betting Is Popular
The most common reason for adopting spread betting is because of the availability of sports betting options and the ease of placing bets. Wherever you look in mainstream media there are probably dozens of bets you can make, and with so many sports to choose from it is easy to keep things interesting. The flexibility of placing bets on events from a variety of sports also contributes to the appeal of this betting style. For example, if you want to bet on the winner of the 2021 British Open Championship then you can do so by placing a bet on the sport of golf and on the championship itself.
Perhaps the biggest appeal of spread betting is that there is no reason to believe it is any less reliable or trustworthy than other betting styles. The random number generator is the same for all online betting platforms, meaning the outcomes are the same no matter where you place your bet. Plus, if you are placing bets on golf, tennis or any other sport with a fixed outcome then the odds are already calculated and laid out for you. The only thing you need to do is sit back and relax while the app or website handles the rest.
Potential Risks Of Spread Betting
While traditional betting is still popular among older generations, millennials are more likely to adopt alternative betting styles. The most common risk associated with spread betting is due to the complexity of placing winning and losing trades. The majority of millennials avoid risk by not participating in these types of trades, but for those who do sometimes lose money. It’s also worth bearing in mind that if you are placing high stakes on football or other popular sporting events then you are more likely to lose money as it becomes easier for people to research and predict the results of the matches or games. Should you choose to participate in these types of bets then you should certainly do so with caution.
Most betting apps or websites will also advise you against trading when you are feeling emotional or anxious. It is also a good idea to avoid gambling when you are intoxicated or feeling otherwise unwell. These are all signs that you may be putting yourself in a potentially dangerous situation. If you do decide to give it a go then perhaps play it safe and avoid betting on events with high stakes or if you are experiencing any emotional turmoil.
At the end of the day, no matter what your reasons for playing, we hope our overview of what spread betting is and what it isn’t has helped you understand the concept better. If you’re curious about trying the game out then maybe you should give it a go. But if you’re new to betting then traditional betting is still the safer option as things stand.