If you’ve got any experience in sports betting in any capacity, chances are you’ve heard of a spread bet. It’s become one of the more popular betting types, due to the easy nature of placing a bet, and the potential for high reward. But, what is it?
Well, in this review, we’re going to give you a full rundown of spread betting, explained in detail. We’ll cover what the betting type is, how you can place a spread bet of your own and what the main advantages and disadvantages of this betting type are. By the time you’re finished with this review, you’ll be an expert in all things spread betting!
What is a Spread Bet? Spread Betting Explained
A spread bet has multiple meanings in the context of betting, but this review will focus on a spread bet in the context of sports betting. Essentially, a points spread is the name for the handicap between two figures when determining the odds of teams to win. ‘Betting on the spread’ is when you bet on an under/over on the amount of points scored, rather than betting outright on the result of the game.
A favourite will usually have to ‘surrender’ points in order to meet the spread, while an underdog will have points ‘awarded to them’. Take the example below, so you can get an understanding of how spread betting works.
- The Houston Texans are playing the Arizona Cardinals. Let’s say the Texans are the favourites, so the spread for them will be -5.5. This means the Texans need to win by 6 or more points to cover the spread. Alternatively, the spread for the Cardinals is +4.5. This means the Cardinals only need to lose by five or less points to cover the spread.
- So, if the Texans win by 24-18, they have scored six more points than the Cardinals, so they win the spread
- If the Texans only win 24-21, then the Cardinals win the spread, as the Texans have only won by three points.
It is important to note that it’s a betting type that is often used in American sports, such as football, baseball and basketball, due to it relying on the American odds system. Still, almost all new betting sites will allow such wagers to be made.
How Do I Place A Spread Bet?
Now that you understand the workings of a spread bet, you may be anxious to place one yourself. Here’s how you can place your own spread bet simply, and easily.
- Sign up for a sportsbook – First off, you’ll have to pick a sportsbook to sign up for. We have plenty of recommendations to make, such as DraftKings, Bet365 and Fanduel, among many more. Remember to choose one that offers plenty of promotions, as you might get a spread betting bonus. Now that you’ve signed up, you can make your first bet
- Pick a game to bet on – The last thing we recommend for you to do here is to pick a random game, and just bet on it. The best angle you can take for your first spread bet is stick to a sport you are familiar with. Find your favourite sport, and pick a game that you have some knowledge on. Looking at recent form can also be useful and this will help you make a more analytical choice when you place your wager, and you can also use a betting odds calculator.
- Decide to bet for or against the spread – Now, you can click into the game, and make the choice to bet for, and against the spread. Remember, that betting against the spread means backing the underdog, and your odds will be much higher when you do this. Betting for the spread is the safer option, as it’s the more likely option. You may also wish to read up on the meaning of exposure in betting.
- Place your wager – Now, all you have to do is place your wager, and you’ve placed your spread bet. Always keep in mind what the points spread is, as this can help you take a calculated risk to bet against the spread from time to time. We also recommend reading our guide to stake meaning in betting.
Advantages of Spread Betting, Explained In Depth
Spread betting is a lot more exciting than a regular straight bet. After all, the points are everything – you aren’t necessarily betting on a team, but the likelihood that they will score more or less goals than the other. This brings some exciting opportunities for a player to take advantage of.
- Higher potential profit – Spread betting, particularly betting against the spread, brings higher potential profits than most other betting types. This is because when you bet on the underdog here, you bet on them to achieve a certain score, rather than just win the game. It’s more precise betting, so the odds will be higher as a result. If you are still unsure then you may wish to ask what is a 3 way moneyline, as this is another betting option on sports.
- Demands high strategy and engagement – An indirect benefit of placing more spread bets is that it forces a player to adapt. If you want to engage yourself in the world of spread betting, you need to force yourself to analyse and engage more with the sport you are betting on. This critical thinking ultimately will help you become a smarter, and more engaged bettor in the long term.
- Plenty of variety – Spread betting is often associated with football, and primarily NFL. But, that’s simply not the case. You can bet on the spread in a majority of different sports, such as basketball, baseball, hockey, tennis and even boxing. There’s only really two factors you need when you’re betting on the spread. If the sport you are betting on in is points based, and if the sportsbook you are wagering on provides American odds.
Risks of Spread Betting, Explained in Detail
Spread betting can come with high rewards, but of course, precision betting like this also comes with some risk. There are some factors you need to keep in mind when regularly spread betting, in order to avoid some common missteps with this betting type.
- More work and research needed – We mentioned earlier how regularly spread betting forces you to become a sharp bettor. Well, in order to become more strategic, you need to do the work. This requires you to do more research and analyse more patterns when it comes to the teams you are betting on. Are they in form? How do they perform in the location? How have they historically performed against the other team? What is the weather forecast for the game?
These are some questions you’ll need to research if you want to have some successful spread bets
- Huge potential loss – Just as there is a high chance for profit, there is also a high risk of loss. Remember that sometimes betting for the spread involves a big wager in order for it to pay off, especially if it is predicted to be a very one sided game.
With all the factors at play, scoring a particular amount of points is a tough factor to wager on, so it’s easy to make the wrong decisions sometimes, and bet on a loss. It can also be useful to consider the parlay meaning in betting as another tool when wagering on sports.
Conclusion: Spread Betting Can Be a Lot of Fun
This page has explained spread betting and how it can be used effectively. It can provide a totally different experience, betting on the amount of points scored rather than betting on the outright result. We fully believe it can be fun, and it can lead to a lot of great success for some players.
However, spread betting is not for everyone, and our recommendation is you leave it be if you are a beginner. Stick to simpler bets for the time being, learn the art of betting before you get started with spread bets. However, if you’re more experienced, there are plenty of great sportsbooks offering great odds on spread bets. Get out there, and try them out now!
