Sports Spread Betting
Some spread betting providers also quote a range of sports and political markets. Spread betting is one of the most exciting and popular forms of betting on sport and has many advantages over fixed odds. On most major sports events you can even place a bet during play. You can also place spreadbets on sports events online, using an internet dealing platform. Or you can make a bet on the Grand National…
Make no mistake – this area is riskier than fixed odds betting!
A test match cricket innings spread might pitched around 260-270, as a punter if it falls outside of this spread you will win or lose. Just how much you win or lose will depend upon the final total. Winning in large quantities is not a problem, but if it goes against you what is the biggest possible downside?
How low can it get? A test match rarely sees innings totals below three figures, but they do happen. Will Sod’s Law kick in just when you’re a buyer whose bet goes wrong and one team collapses spectacularly. New record low test innings of 22?
With such uncertainty if you are a buyer, what is the worst downside you could expect? 100? 60? 30?
As a seller if things go against you, what is the maximum score in a test match innings? 500? 800? 1200?
Any spread bet you place, make sure you take account of the worst case scenario and how much it would cost you if things went badly wrong. Then add a little extra to the figure you first thought of as a comfort zone. Buying the 270 @ #10.00 per point is an easy bet to strike, but should the side make a total flop and score zero, is a loss of #2,700.00 something you’d accounted for?
But maybe it’s hardly likely is it, after all… That’s never happened before!
There is also within the scope of spread betting the ability to spread on the stock market, ie share prices and the like. With financial markets you are not limited to just betting what the closing stock price will be for a given stock, you are also able to do the same thing for indices like the FTSE and the NASDAQ.
If you have never placed a spread bet before I would strongly recommend you make your first trades over the phone. Be up front with the person handling your call and explain this is the first time you have placed a spread bet so please be patient.
The reason I advise this is that the brokers may use language or jargon you are unfamiliar with. I’ll create a ‘Glossary’ to help you but for now you need to know that when you place a spread bet you effectively ‘open a position’. A buy or sell is your position, you just need to make the broker aware of the event you are interested in betting on and your stake of course.
Okay, so you’ve placed your first spread bet and the game is traded ‘in running’. This means that you can still place bets or manage your position after the scheduled off time. Lets say your bet was a buy of total goals in the Chelsea v Liverpool game on Sky Sports. You’ve bought total goals at 2.5. The game is nearing half-time, its very tight and you don’t think there are going to be any goals. You have two options; you can let the bet run its course or you could close your position. The likelyhood is that the market would have contracted to something like 1.4-1.6 so if you wanted to close your position you would sell at 1.4 and you would lose (2.5-1.4)* your stake.
Taking a loss is probably a new concept to you unless you are a trader on the exchanges but you must learn to consider all options at all times and this is one option that is available to you.
To be fair I don’t know that much about sports to be able to provide any guidance on spread betting with it so recommend you researching it yourself.