Spread betting is a form of gambling whereby bettors place wagers on the outcome of an event being above or below a range of numbers. One of the most popular betting sports in India is cricket and this suits spread betting. The most popular spread bet is on the number of runs in a cricket match. The bet is on under or over a specified total of runs. The more accurate the bet the greater the returns. The loss is based on the inaccuracy of the bet. Sports betting is huge in India and cricket and other sports provide many sports spread betting opportunities. Hence, there are a number of sports spread betting sites that are the best in this category:
What is spread betting?
Sports spread betting involves placing wagers on the outcome of sporting events. However, it is a different form of betting than betting on which team or player wins an event. It is also distinct from exchange betting which allows customers to play the role of the bookmaker by accepting as well as placing bets. A sports spread bet is a wager on whether the final result will be above or below the spread that the spread betting firm quotes. Hence, the final outcome determines the profit and losses from a spread bet.
The spread betting meaning creates a quote expressed as two numbers. For example, the spread for the number of runs scored by a cricket team in one innings could be 210-230. The spread betting firm compiles the spread based on past form and statistics. Customers bet on the number being below 210 or above 230. However, playing conditions are a factor in compiling the spread.
The middle is the difference between the lower and higher numbers. In this case, it is 20 runs and is set so that the selling price is lower than the buying price. A spread bettor goes low and sells at 210 or goes high and buys at 230 runs. The actual number of runs determines the result for sellers and buyers. The spread meaning indicates there are losing bets to counter any winning ones.
Cricket is India’s national sport and massive for betting. Spread betting suits cricket because it’s all about numbers. Batters accumulate runs and bowlers try to take wickets. Individual players try to score runs or dismiss the opposition. Extras add to the total number of runs. Therefore spread bettors can bet on these totals being above or below the spread.
Spread betting companies
Authorities restricted betting in India but there is legal betting on lotteries and horse racing. There is debate about the costs and benefits. So, one side highlights the potential for corruption while opponents emphasise the massive tax revenues that gambling can earn for the state. Gambling is in categories of either games of luck or games of skill. Online gambling is illegal in theory but there are no laws which prohibit the activity. Several of the online betting sites have registered customers in the country. So, strictly speaking, sports spread betting is not illegal in India.
The following spread betting companies can in theory operate in the country:
IG Spread Betting
IG is a spread betting firm that focus on financial markets. Traders can bet on the price of currencies or commodities being above or below the spread. Traders who engage in sports spread betting can place spread bets on a wide range of markets with the IG spread betting firm. However, IG may introduce sports spread betting in the future.
Spreadex has over 20 years experience in sports spread betting but customers can also place spread bets on financial markets. The company offers spread betting quotes on about 20 sports. The sports categories include cricket which is hugely popular for betting in India. Spreadex quotes a spread for many sports betting markets.
Sporting Index is a market leader in spread betting and one of the biggest spread betting companies in the world. No other operator offers such an extensive range of spread betting markets. Hence, customers with Sporting Index can select from about 30 sports. Spread meaning indicates the company creates many spreads.
How does spread betting work?
One of the most popular spread betting markets is the point’s spread. In effect, it is a handicap on the underdog in a binary market. The spread is the start the underdog receives to attract two-way business in a market with two potential outcomes. A typical cricket points’ spread is the number of wickets that two bowlers take during a match.
The spread quote might be 1.1-1.3 which means the projection is the favourite to take 1.1 to 1.3 more wickets than the outsider. Spread firms settle the bet on the supremacy which in this case is the difference between the number of wickets taken by the favourite and outsider. However, spread betting can also be applied to other sports and cricket markets which are covered below.
How sports spread betting works?
An illustration of a bet is the best way to explain the spread betting meaning. One of the most popular spread bets in India is the number of runs a team scores in the innings of a cricket match. A typical spread quote is 210-230. Spread bettors sell the spread or bet on less than 210 runs.
Alternatively, sports spread betting customers buy the spread or bet on more than 230 runs. The total number of runs at the end of the innings is used to settle the sell or buy spread bets. This figure is the make-up. The middle is 20 runs and there are four potential scenarios:
Spread betting calculation
There are 2 possible bets:
Bet: 50 INR Buy at 230
Number of runs: 200
Calculation: 230 – 200 = 30 x 50 INR = LOSS of 1500 INR.
Number of runs: 250
Calculation: 250 – 230 = 20 x 50 INR = WIN of 1000 INR.
Bet: 50 INR Sell at 210
Number of runs: 200
Calculation: 210 – 200 = 10 x 50 INR = WIN of 1000 INR.
Number of runs: 250
Calculation: 250 -200 = 50 x 50 INR = LOSS of 2500 INR.
This example illustrates the spread betting meaning in that, the more the bet is correct, the greater the profit. And the more the bet is incorrect, the greater the loss. So, these scenarios show the fundamental mechanics of spread betting on sports and financial markets.
Sports spread betting
Every sport has some form of scoring system with an expression in numbers. So, in football it is the number of goals. Therefore, bettors can bet into spread markets for the total number of goals and the supremacy. Many aspects of a football match can be applied to spread betting. The range of football spread bets includes goals, corners, bookings, offsides and throw-ins.
There is no ambiguity and the ongoing totals are easy to monitor. Spread betting firms update the spreads in running depending on the totals at any stage of a match. Other popular spread betting sports include rugby union, rugby league, tennis and snooker. However, cricket is the most popular spread betting sport in India and in other countries outside Europe.
Cricket spread betting
Spread bettors in India and other parts of the world can place spread bets on the following cricket markets:
- Match runs.
- Innings runs.
- Team runs.
- Player wickets.
- Player runs.
- Match supremacy.
Cricket markets can be volatile and the potential profits and losses can be substantial. Therefore, the sport provides the potential for a big win from a relatively small stake. But the downside is the potential for a big loss. Stop losses are automatic trades that close a bet when the total reaches a certain number. A stop loss leads to a sell when the total reaches a ceiling and a buy when the total reaches a basement. Stop losses are counter bets which limit the loss from a buy or sell. Hence, stop losses are important in cricket because the make-up could be a very high or low number.
Spread betting in India tips
Spread betting tips are universal so bettors in India should be aware of the pitfalls of spread betting. The liability of a spread bet exceeds the stake unit. A 1000 INR bet on the winner of a cricket match either wins or losses. If the odds are 2.0, a winning bet returns 2000 INR and the most that can be lost is 1000 INR. A back or lay on a betting exchange also carries a fixed maximum loss depending on the back and lay odds. However, a spread loss reaches a limit at the maximum make-up and that is why one of the most valuable spread betting tips is to set automatic stop losses. So, with careful money management and discipline, stop losses are important elements of sports spread betting.