Spread betting is a form of betting that sets out your margin of risk for whichever way you decide to bet. It’s widely popular form of betting which is even used in financial sector. However, we are not discussing spread betting vs stock trading. New Zealand betting sites is the ultimate sports betting guide and so we have multiple betting sections. We have researched the pros and cons of spread or point spread betting as well as how we can use point spread bets in different sports. Our Kiwi readers can place point spread betting wagers at any of the top NZ Sports betting sites which have listed below.
Place Spread Betting Wagers at Top NZ Sites
Point Spread Bets Explained
Point spread betting is a way sportsbooks level the bias between the perceived favourite and underdog. Where two teams are playing and one is known to be much better, bettors will always wager on the favourite and bookmakers might not make any money. Therefore, the point spread adds in a condition for the win bet to qualify. Instead of just predicting a win, Kiwi bettors must also fall within the range or point spread.
Point spread margins are always displayed as negative or positive values. The favourite always has the negative number while the underdog has the positive value. What this effectively means is that the favourite starts the game with scores subtracted and the underdog starts with an advantage. The point spread is set by the sportsbook according to their statistics and expectations on how the teams will perform.
How does sport spread betting work?
To fully understand how spread betting works, punters need to know how to read a point spread. Let’s illustrate with an example
Manchester United FC is playing against Liverpool FC in the EPL and the odds and spread have been set as follows:
Manchester United +2 Liverpool FC -1
Note that Liverpool is the favourite because they have the negative spread and Man United is the underdog.
The game is played and the score is Manchester United 1 – Liverpool 3.
Even though Liverpool won the match, a bet on Liverpool loses because they have not managed to “cover the spread”. Remember essentially MAN U starts the game with 2 points / goals in hand already and Liverpool with -1 goals/ points. The final score for Manchester the becomes 1 + 2 = 3 and Liverpool’s score is 3-1 = 2. According to the point spread Liverpool loses.
Inversely had Liverpool scored 5 goals final spread would have been 5-1 = 4. This means they still win after the spread is factored in, this is what to cover the spread means
Where to Use Point Spread Bets?
Spread betting can be use on any sport. The Point spread betting method is generic to most sports and is used in all sports imaginable. However different sporting disciplines refer to the point spread in differently. For instance, you may have heard of a handicap in Basketball betting or golf betting. The handicap is just the range orb margin set by the bookmaker in the same way they set out odds. Or in hockey you may have heard of the puck line bet which is unique in that it is a fixed point spread of +1.5 and -1.5 always.
Spread Betting NZ FAQs
What does the + and – mean in sports betting?
THE + indicates that the team is the underdog and the points they automatically get from the bookie. The – sign indicates the favourite and the points that are automatically subtracted from the team.
What does cover the spread mean?
Covering the spread means that the favourite still manages to win even after the spread is factored in.
E.g Point spread Manchester United +2 Liverpool FC -1
Final score Manchester United 1 – Liverpool 2. After adding the + 2 to Man U and subtract -1 from Liverpool, Man U has more points than Liverpool. This means Liverpool has not covered the spread.
What if point spread result is a tie?
If the point spread betting result is a tie, no team has covered the spread and bettors get refunded their wagers. This scenario of a tie in point spreads is known as a “push”