Basketball is one of the world’s most popular sports, and spread betting is quickly becoming one of the fastest growing forms of basketball betting. Spread betting allows bettors to wager on the outcome of certain basketball games by predicting which team will outscore the other.
However, it is important to understand the mechanics of spread betting before wagering actual money. Doing so not only helps ensure the best possible chances of winning, but also increases the enjoyment of the game, as it helps you come to a better understanding of how basketball works at a basic level.
What Is Spread Betting?
Spread betting is a form of betting where the outcome or result of a basketball game is predicted. The bookmaker or sportsbook assigns a point spread to each team prior to the game. This spread (or point differential) is created to make the teams more equal in strength. By assigning each team with a point spread, it makes it easier for the better team to win since they have to outperform the other team’s spread.
For example, a team favored to win the game may have a point spread of -6, while the team they are playing against (the underdog) has a point spread of +6. In other words, the favorite team must win the game but by at least seven points to cover the point spread. Similarly, the underdog team must lose by no more than six points to cover the spread.
How Do I Place A Spread Bet?
Spread betting is quite straightforward to understand. All the bettor has to do is determine which team they think will outscore the other. This can be done by choosing the favorite or the underdog.
If the bettor selects the favorite, they are betting that team will cover the spread and outscore their opponent. On the other hand, if the bettor chooses the underdog, they are hoping that the underdog will cover the spread and outscore the favorite by at least a certain point differential.
The potential winnings or losses in a spread bet are determined by the point differential at the end of the game. A bettor can win or lose more money if their chosen team wins or loses by a greater point differential than the spread.
Tips for Improving Your Chances Of Winning Big with Spread Betting
- Do your research: The most important tip for spread betting success is to do your homework. Researching the teams involved, their mastery of the game, their offensive and defensive strategies, and their previous matchups will give you a greater insight into which team has the edge and can increase your chances of a successful spread bet.
- Understand the point spread: Knowing how the point spreads work can significantly improve your chances of a successful spread bet. Make sure to pay attention to the point spread assigned to each team, and be aware of how much a team needs to outscore their opponent in order to cover the spread.
- Manage your money wisely: Money management is the key to successful spread betting. Make sure to bet only what you can afford to lose, and set limits on how much you are willing to risk. This will help prevent you from making rash decisions that could have severe financial consequences.
- React to news quickly: In the world of spread betting, news travels fast. Make sure to keep on top of all relevant news related to the teams and the game, and react quickly to changing scenarios. This can help you take advantage of opportunities to maximize your winnings.
Spread betting can be a fun and exciting way to enjoy the thrill of basketball betting. By taking the time to study the basics of spread betting and implement some of the tips discussed here, you can greatly increase your chances of becoming a successful spread bettor.
What is the difference between spread betting and regular gambling?
Spread betting is a financial option in which the payoff is a multiple of the amount by which the underlying assets exceed or fall short of a predetermined level. Regular gambling involves betting on the result of an event in the hope of achieving a predetermined monetary profit. Spread betting is more akin to investing than to standard gambling as there is an element of skill involved in predicting the movement of the underlying financial instrument. Gambling involves solely luck.
How does spread betting work?
Spread betting is a type of wagering on the outcome of an event where the pay-off is based on the accuracy of the wager, rather than a fixed amount. With spread betting, the individual bets on whether or not an event will happen, the range of that event or a combination of both. The bettor doesn’t know the exact outcome of the event, but instead bets on whether the outcome will be better or worse than a given spread. If the bettor is correct, then he or she gets paid out according to a predetermined payout rate. If the bettor is incorrect, then he or she loses the bet.
What is the difference between spread betting and traditional betting?
Spread betting differs from traditional betting in that it allows a punter to bet on the relative performance of two different trading instruments, such as stocks, indexes, currencies and commodities, rather than betting on the outcome of a particular competition or event. Spread bets are leveraged investments, meaning the punter must only deposit a fraction of the total value of the position to open a trade and then the potential returns are based on the full value of the bet. Traditional betting, on the other hand, is the wagering of money on a particular event where the player bets on the outcome, such as a sporting event or horse race. The payout for a successful bet is determined before placing the bet, so the outcome of the bet does not change regardless of the outcome of the event.
What is the tax implication of spread betting compared to traditional betting?
The tax implications of spread betting compared to traditional betting are generally favorable, as spread bettors are usually not subject to capital gains taxes. In the UK, spread betting is exempt from stamp duty, income tax and capital gains tax, making it a very tax-efficient form of betting. Traditional bettors, on the other hand, are generally subject to capital gains tax on their winnings. Additionally, some bettors in the UK may be subject to income tax on their winnings, which tax may be as high as half of their net profits from betting.