If you visit a high street bookmaker you can do one of a few things. Firstly you can bet on one team winning a match. The other thing you can do is bet on the other team winning the match. The only other option you have, if it is available, is to bet on both teams drawing with each other. Ok this example is quite limited but it raises the point – traditional form of betting on sports are very boring and outdated.
Luckily there is a more exciting, albeit risky way to bet on sporting events and this method is called sports spread betting. Spread betting is a concept that originated in the world of finance as a way for people to bet on the price movement of oil, shares, interest rates and other financially related interests. it was recently adapted to the world of sports betting where the concept, although slightly different, performs the same function.
The main difference between financial and sports spread betting is that the market dictates the price more with financial. Whenever the share price of a company moves, it will automatically adjust on the company’s system. With sports spread betting however, the firm is responsible for setting a spread and manually adjusts this whenever bet volumes go one way. For example if there was a cricket match where the spread on the total number of runs was 3200-3300 and more people were betting above this figure, the spread betting company might adjust the spread to 3400-3500.
There is evidently a lot more work involved with maintaining the sports side of things, in a similar fashion to how bookmakers make their odds.
Although sports spread betting is still pretty new, many people have adopted it due to its high intensity, high risk nature. You are placing bets worth far in excess of what your account balance is so you can easily find yourself making vast sums of money. Equally, however if a bet goes dramatically against you, you can find yourself owing the company an considerable amount of money too.
So to summarize, sports spread betting, although it is still a new concept, is becoming ever more popular. It is a leveraged instrument meaning bets can be placed that are worth more than your account balance. This means you can quickly win or lose considerable sums of money so it is very important that you take care when placing your bets. Some of the top companies out there include the likes of Spreadex, Sports Spread and Sporting Index with the latter being the most popular on the market. Whichever one you sign up with you should be eligible for a free bet so check the terms and conditions out before you sign up!