Sports spread betting is a type of wager. Where betting is done on the outcome of various online sports events such as football, basketball, tennis, baseball and many more. The objective of sports spread betting is to beat the “odds makers’’ or the “odds compilers’’ and win some cash. Odds maker is a person who sets the betting odds.
Bitcoin sports betting are done through a “sportsbook”, physical or online or over phone. A bitcoin sportsbook is a person who accepts a sports bet. The trader should state the online sportsbook the type of bet and the amount he wants to bet. The sportsbook makes a prediction of a spread on the basis of which the trader places a bet.
In case of sports spread betting the betting is done on the difference of the scores between two teams playing against each other. There are values specified by the sportsbook and the earnings of the traders are based on the difference of the spread specified by him. The online gambling charge a little commission or “juice” for his services.
There are many types of sports spread betting:
- Straight bet or single: This is the most common type of betting where betting is done on a winner at given odds.
- Point spread: Under this type betting is done on a winner from two selections that have been made equal by allocating equal points to the loser. Point spread is the number of points allocated and is shown with a negative sign for the favorite and a plus sign for the underdog. The trader wins the bet if the favourite wins by more than the point spread otherwise the trader loses even if the team wins. On the other hand, if the trader bets for the underdog than the trader wins the bet only if the underdog loses by less than the point spread. If there is a tie, the trader gets his bet back.
- Buy points: Under this, the point spread should favourably move at a price.
- The Moneyline: This is just the inverse of point spread.
- Total: Betting is done for the total number of points scored by both the teams.
- Over/under: Bet is whether the total number of points scored by the two teams in the game will be over or under the total set by the oddsmaker.
- Parlay or accumulator: It includes multiple bet.
- Teaser: It is quite similar to parlay.
- If-wager: It allows making a second bet up-to an amount equal to the first bet, pending a win on the first selection.
- Open wager: The bettor can plat teaser or parlay on different days.
- Future: This is the most profitable bet done on a future event.
- Exotic bets: Betting is on sports related events and activities.
- Proposition bet or prop bet: An offer of bets at odds and conditions chosen by the online bitcoin sportsbook.
Sports spread betting becomes more exciting when bet is placed on favourite sport event. It creates a market for a given matchup which contains even number of players on each side of the bet. Once a bet is placed it cannot be changed. Thus, sports spread betting is for pre-known duration and for specific sports only.