Total numbers
Spread betting works on the basis that
all sporting events generally have a variable outcome,
such as the number of runs in a cricket match, and different
finishing positions in horse racing.
The spread itself is the bookmaker’s prediction
of the likely outcome. For instance, at the beginning
of a test innings by Australia, the spread may be quoted
as Australia, first innings runs 300-320.
The bookmakers here are inviting two types of spread
bets; the first from those who ‘go high’
or think the score will be higher than 320; and secondly,
those who ‘go low’ or think it will be lower
than 300.
If a punter decides to bet higher, this is known as
‘buying’. If, for instance you put a £1
buy bet on the result of this test, for every run that
Australia achieve over 320, you would receive £1.
For every run that they fall short of 320, you would
have to pay £1. So if their final score amounted
to 341, you would receive £21. If their final
score amounted to 267, you would lose £53.
If a punter decides to bet lower it is known as ‘selling’.
If, for instance you put a £1 sell bet on the
result of this test, for every run that Australia fall
short of 300, you would receive £1. For every
run that score over 300, you would have to pay £1.
So if their final score amounted to 341, you would receive
£41. If their final score amounted to 267, you
would lose £33.
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