Sports Bet Spread Explained
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Sports Bet Spread Explained
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Toby is the founder & writer of Punter2Pro. He's a Computer Science graduate with experience in developing value bet finders, Betfair bots, and other professional betting tools. Nowadays he runs Amazon FBA businesses, writes several blogs, and specialises in online marketing.
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In sports spread betting, punters bet on whether a specified outcome in an event (e.g. total corners) will end up being above or below a range called the ‘spread’. The profit or loss is determined by how ‘right’ or how ‘wrong’ you were.
With fixed odds betting you know before placing a bet what you stand to win or lose. It’s simple — you place a fixed-risk stake at the specified odds and you either (a) make a profit based on those odds, or (b) lose your entire stake. There are no other outcomes, unless for some reason your bets are voided.
Sports spread betting offers an alternative to traditional fixed odds. With sports spread betting you don’t have odds, but instead bet on whether a specified outcome in a sports event will end up being above or below a ‘spread’ offered by a sports spread betting firm. The spread is basically the betting firm’s prediction of where the outcome will be by the end of the event. The punter is therefore looking to bet if they disagree with the range.
Some examples of sports spread betting markets are:
There are 2 ways to bet on the spread. You either ‘buy’ to bet that the outcome will be higher than the top value of the spread. Or ‘sell’ to bet that the outcome will be lower than the bottom value of the spread. You are rewarded for how many ‘unit points’ correct you are, and punished for how many ‘unit points’ wrong you are.
Thus, unlike fixed odds, sports spread bets don’t have a preconceived win and loss value known at the time the bet is placed.
By now you’re wondering: precisely how do you calculate the payout of a spread bet?
Let’s take an example of a football spread betting market for total corners. The spread is 3 – 5 .
This means you can either buy @ 5.0 to bet that there’ll be over 5 corners, or sell @ 3.0 to bet there’ll be less than 3 corners. You cannot bet inside the spread. Here’s some examples:
UK spread betting firms earn from both sellers and buyers when the outcome finishes in between the spread. In the example above, if the total corners ended at 4, then buyers would lose (4 – 5 = -1) unit, whilst sellers would lose (3 – 4 = -1) unit.
What you’ll notice is that the line of symmetry between the profit/loss for the buy and sell is not through the X axis of the graph. The difference between the spread (5 and 3) causes the graph to shift down, giving the spread betting company more chance of earning than the bettor. No surprises there.
As a punter, you want the sports spread betting company to offer very tight spreads. This gives more chance of correctly guessing outside of the range. A large range makes it harder to profit.
Mapping fixed odds onto the above graph is only possible to an extent. You’d need to find a comparable market, such as the Over/Under 5.5 corners market to make a comparison. For example, the odds might be 1.5 for Under and 3.0 for Over. So backing Over @ 3.0 means 6+ corners would pay (£100 x 3.0) – £100 = £200 profit, and any less corners would lose £100. There’s no change in payout no matter how many or few corners there are.
There are a few reasons that punters may opt to spread bet:
No, not particularly. The markets are usually correlated to fixed odds (whenever there are overlaps). Fundamentally you still need to find value to earn consistent profits. The principle is the same as with fixed odds.
Perhaps though, there is an argument that sports spread betting lends itself to precise bettors. If you’ve calculated that a horse is both likely to win, and to wipe the floor with its competitors, then your selection method might be better suited to spread betting than fixed odds. For example, betting on the ‘number of lengths between the 1st and 2nd place horse’ market.
But on the other hand spread betting is very risky. I can’t emphasise this enough. You usually bet with credit, and then win or lose money from that. Losing means that you’re in debt to the spread betting company, and winning means they’re in debt to you. It’s easy for things to spiral out of control if you don’t bet responsibly.
Generally speaking, there’s more markets, liquidity and opportunities with fixed odds. I’d personally avoid spread betting until you feel thoroughly comfortable with what you’re doing, and know of specific markets you can use to your benefit.
There’s a wide range of horse racing markets offered by the top spread betting companies. You’ll need to read up on how winnings are applied to each market before you bet, as it isn’t always intuitive.
There’s a helpful video put together by Spreadex , providing an overview of what types of spread bets you can place on horse racing.
There’s a couple of major sports spread betting companies in the UK: Spreadex and Sporting Index are the leaders. Here’s the latest offer from Spreadex:
Stake £300 or above on qualifying sports spread betting markets in your first 28 days on Spreadex you will be rewarded the maximum of £300 cash on your account or an iPad. Total stakes below £300 still qualify for a matched cash bonus (e.g. £50 total stake gets a £50 cash reward). Full T&Cs apply. Spread betting losses can exceed deposit.
I strongly advise that you do not bet with SportSpread.
SportSpread is unlicensed and illegal in the UK. There’s countless records of players that have not been paid out large sums, have had their emails and phone calls ignored, and their accounts closed (with money inside) without notice. There’s no smoke without fire.
It fascinates me that every year Sportspread still exists, still promotes itself in the UK, and still offers bonuses to unlucky new customers. It’s a complete scam.
New customers only. Minimum deposit of £10 using code 30F. A qualifying bet is a ‘real money’ stake of at least £10 placed on any sports market. Minimum odds of 1/2 (1.5). Free bets credited upon qualifying bet settlement and expire after 7 days. Free bet stakes not included in returns. Deposit balance is available for withdrawal at any time. General deposit method & withdrawal restrictions apply & full T&C’s apply.
18+. New customers only. Max free bet £20. Min bet £20. Min odds 2.0. Free bet can be used on multiples with min odds of 1/2 per leg. T&C's apply. begambleaware.org
18+ only. Certain countries only. API/RDT customers excluded. Min £10 exchange bet at odds 2.0 or greater within 14 days of acc reg. Free bet valid on exchange for 7 days. Stake not returned. Depositing directly via bank card. No cashout. New customers only. T&Cs Apply.
New customer offer. Place 5 x €/£10 or more bets to receive €/£20 in free bets. Repeat up to 5 times to receive maximum €/£100 bonus. Min odds 1/2 (1.5). Exchange bets excluded. T&Cs apply.
New customers from UK & Northern Ireland. Stake £10 or more at odds of Evens (2.0) or greater on your first bet. £30 free bet credited in 48 hours of your first bet being settled. 7 day expiry. E-Wallet restrictions apply. Max 30 Free Spins on selected games. Full T&Cs apply.
Offer valid from 20th Nov 2019. Code: 25BLACK. 25% Bonus added to customer’s first deposit only. 3x (deposit + bonus) turnover requirement before withdrawal. Black account win/lose bets at minimum odds of 1.80 count towards turnover (push/void bets do not). Multiple bets on the same market are accepted but counter betting will only count the lowest stake. Some countries are restricted. Full T&Cs apply.
18+ Cash stakes only. Min £10 stake required for initial £5 free bet. Min odds 1.50. Max £25 in free bets. Subsequent free bets equal 50% average of each 3 qualifying bets. 13 bets required to receive full £25 free bet. Qualifying bet must be placed within 30 days of opening account. Free bet expires after 7 days. Payment method restrictions apply. T&Cs apply.
New account offer. Losses refunded up to the bonus amount. You must deposit £20+ (or currency equivalent) in a single amount with your first deposit. To withdraw rebated funds, you must bet at least the qualifying deposit on any combination of markets within the promotional period; otherwise rebated funds will be forfeited. Unused bonuses expire after three months of being credited to a user account. Full T&Cs apply.
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