Multiple Types of Sports betting. Point Spread Wager
Another type of specific wager that can be placed in fixed odds betting is the point spread wager. This type of wager is very popular, especially in the US.
The whole meaning of the point spread is essential to give each team or player equal chances to become favourites. The concept of the point spread wager is based on betting on which team or player will cover the spread.
A bookmaker creates the spread and, quite often, the bookmaker makes the odds equal for the two participating teams or players. When the odds are created, a favourite is aligned with the negative number of points, and an underdog is aligned with the positive number of points. The size of the spread designates how many points are deducted and awarded.
The favorite player or team has to win the game by more than the established point spread in order to make a profit for a bettor. An outright win or a loss by less than the setpoint spread has to occur for the underdog player or team to cover and win the bet for a player. Ties in the point spread wagers are referred to a “push”, in which case no money is won or lost.
To make things a little clear, we will show some examples of the point spread wagering below.
The New York Giants are going to play Seattle Seahawks in a football game. A bookmaker is offering the following market for the point spread.
New York Giants vs Seattle Seahawks
The spread here is ten points. This is obvious from the +10 and -10 written across the two teams. According to the betting rules, the Giants are the underdog, so the +10 for the Giants means that they are assigned 10 points. The Seahawks are the favorites, and 10 points are detracted from them.
The -112 written next to each team are the odds. The decimal equivalent of -112 is 1.12. The odds for both teams are the same.
If you bet on the Giants, you would win your wager if the Giants either won the game outright or lost by LESS than ten points. You would lose your bet if the Giants lost by over than ten points. Your wager would be a push in case the Giants lost by exactly ten points.
If you wager on the Seahawks, you would win your bet if the Seahawks won by over than ten points. Your bet would be a loss if the Seahawks lost the game, or won by less than ten points. Again, a win of exactly ten points would designate a push.