Spread Betting, what is it ?
What is Spread Betting?
two teams are not evenly matched, the spread, also known as the line, is utilized to balance the odds. In order to obtain the same amount of action on both sides of a game, bookmakers set a spread. For instance, the Chiefs are favored by -6.5 points when playing the Packers. The spread is denoted by -6.5 points. If you bet on the Chiefs against the spread, you can only win if the Chiefs win by at least seven points. You would lose the wager if the Chiefs win by 1-6 points because they missed the crucial number of seven. Punters can also bet on the Packers +6.5 which means that the Bet would win if the Packers lose by less than seven points or Win the game outright. Depending on the sportsbook and the state, the odds on both sides of a spread bet are often set at -110. Therefore, whether you wager on the Chiefs -6.5 or the Packers +6.5, you will win the same amount of money if your wager is successful. Moreover, spread betting also applies to the NBA. For example: The Los Angeles Lakers are -8.5 points favorites at home against the Orlando Magic who are placed a +8.5 underdog.
What is Covering the Spread?
The spread does frequently affect the game’s betting outcome. The team might win the game but might not cover the spread. We want to give two examples of how the spread is covered to give the reader a better understanding of the situation. The first example can be given on Game 6 of the NBA Finals between the Golden State Warriors and The Boston Celtics. Before the game, Celtics were -4 points favorites and the warriors were +4 points underdog point. The game ended 103-90 as the Warriors were victorious, thus the Warriors covered the spread as underdogs as they won the game outright. Moreover, another example that can be given is the Matchup on December 17,2021 between the Indiana Pacers and the Detroit Pistons. Indiana was a -10.5 favorite and Pistons were +10.5 Underdogs. The result ended 122-113 in favor of the pistons, however since the Pacers didnt win by 11 points they lost the spread and the pistons were the ones that covered the spread. Also, another case exists where the outcome is a “push” and that is when the client gets his money back and that can be the case when the spread is -4 and +4 and the game ends with a 4 point difference where the favorite must win.
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