Spread Betting through Free Betting Online
The concept of Spread Betting was first incepted by an American gentleman named Charles K. McNeil in the late 1930's, and this then new form of betting was gradually phased into the UK in the 1980's. The term "Spread betting" is used to describe bets placed on the outcome of an event where the success is based on the precision of your bet, rather than on a simple win or loss, as in fixed odds betting. The bet is made outside a 'spread' or index, and is determined on whether the result is above or below the spread.
"Spread Betting rewards punters for the accuracy of their predictions but also punishes them for their inaccuracies."
Spread Betting Explained
Spread Betting rewards punters for the accuracy of their predictions but also punishes them for their inaccuracies. The general gist of Spread betting is the more accurate you are in your betting the more you win, but conversely the further you are from the mark the more you can lose. The best way to explain how spread betting works is to use an example;
An example of Spread Betting
Take, for example, a Premier League football match between Manchester United and Chelsea. The bookmaker offers a spread of 10-11 on the number of corners in the match. Punters can then ‘buy’ at the higher number quoted or ‘sell’ at the lower value depending on how many corners they think there will be.
If you think that the majority of the game will be played in the middle of the park as the two midfields jostle for position then you would likely induce that there will be few corners and thus ‘sell’ the corners at 10. If you ‘sell’ to a stake of ₦3000, for example, then for every corner there is under 10 you win ₦3000. So if there are only four corners in the match you win ₦18000, however, if the number of corners is more than 10 then you lose. If there are 15 corners then you lose ₦15000 (15-10=5 @ ₦3000 per corner.)
Conversely if you believe that both teams will attack down the wings and thus produce a plethora of corners then you can ‘buy’ the corners. If you again ‘buy’ at ₦3000 per unit then for every corner over 11 corners you will win ₦3000, but for every corner under 11 corners you will lose ₦3000.
It's an old cliche, but it really is quite simple once you get the hang of it.
Nigeria Spread Betting
In Nigeria, it's usual for the bettor to bet that the difference in the points scored between two teams will be less than or greater than a point value allocated by the bookmaker. For instance, if a bettor places a bet on a less-favoured team in an American football game when the spread is 4.5 points, he is said to "take the points". The bettor will win the spread bet if the less-favoured team's score plus 4.5 points is greater than the more favoured team's score.
If, however, the bettor had taken the favourite team, he would have been "giving the points" and would win if the more favoured team's score minus 4.5 points was greater than the lesser team's score.
The winning bettor of a North American spread bet wins the amount that he has bet, and a losing bettor loses his bet plus the bookmaker's commission (which is usually 10 percent of the bet).
If one of a team's top players is slightly injured and it's not certain if he'll play, the bookmaker can declare the game off-limits and not quote any spread at all.
Spread Betting Teasers
Bettors can sometimes place a "teaser" bet in spread betting. This is one that changes the spread in the bettor's favour by a certain margin, in most cases, six points. An example would be if the spread is 3.5 points and the bettor wants to place a "teaser" bet on the lesser-favoured team, he takes 9.5 points instead. On the other hand, if a teaser bet is placed on the more favoured team, that would mean the bettor takes 2.5 points instead of having to give the 3.5. But, in return for the additional points, if the bettor wins, the payout is less than even money!
Spread Betting Teaser Example
A good example would be in a football match between say, Liverpool and Everton where the bookmaker's spread for corner kicks is 12-13. A bettor approaches the bookmaker believing that there will be more than 13 corner kicks in the game. The bettor 'buys' at ₦7500 a point at 13. If the total corner kicks add up to 16, the bettor has won, and receives 3 x ₦7500. If the total corner kicks are less than 10, the bettor loses 3 x ₦7500.
In the UK, a large part of this type of betting is Financial Spread Betting on financial markets - betting here closely resembles the futures and options markets.
This is why you need to have a thorough knowledge of what you are doing in spread betting because it is possible for you to lose much more than your original stake, unlike fixed odds betting. We therefore recommend that you learn the subject thoroughly though our Caution in Spread Betting Article before trying it out in a live environment.
Click the following link to view our list of bookmakers who offer free betting to new spread betting customers.