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I just found out more about spread betting from the horse's mouth, and I have come to the conclusion that not only are they different but spread betting is a bad bad bet.
Looking at NFL football here are how the two differ:
WSEX Interactives for the Tennessee/Jax game on Sunday:
Assuming the line stays at 7 you'll probably see a spread set at 7.5 with Tennessee listed at 50-55 and Jax listed at 45-50.
This means that you can get even money on Jaxonville if you're willing to give up the extra half point (similar to action points). With Tennessee it will cost you 55 for a return of 100 - slightly better than if you bought 1/2 point. However the key is that this is just a starting line and as the play goes on the lines change. And in close games lines can fluctuate like crazy in the last quarter. The spread always stays the same but the buy/sell change. So with 3 minutes remaining, if Jacksonville is up 30-20 and they have the ball you would probably see a spread of something like Jacksonville 90-95
Tennessee 5-10. In better words if you think Tennessee can still score you can get 10 for 1. On the other hand if you are holding shares of Jax you can sell them for 90.
Say on the next play Jacksonville fumbles on their own 20 yard line. Realizing that Tennessee (needing 2 scores) is already in at least field goal range which would put them under the 7.5 point spread, you would probably see the line change to
Tennessee 75-80
Jacksonville 20-25.
In the space of 1 play you can make $65 on each share of Tennessee you just Jacksonville your shares are essentially worth 1/4 the value. And with each play/penalty etc., the spread changes fast and furiously. The only frustration with WSEX is when you place a sell too high and you are beaten by too many others doing the exact same thing. But it is fast, furious and exciting action.
Now onto spread betting (and this is from sporting Index which Cons keeps raving about).
Spread is set at 5-8. This means that in order to win on Jacksonville, they must win by at least 9 points. At 8 points you break even. For each point they win by more than 8 points you win 1 unit extra. However if you want to "buy" Jacksonville (the opposite of WSEX's terminology), they must win by less than 5 points. If they win by 5 points, then you break even. If they win by 6 points, you lose 1 unit. If they lose by 7 points (the actual spread) you lose 2 units. If they lose by 3 points then you would win 8 units.
So essentially the spread of 5-8 points is the juice for the book. If the final outcome is right on the line at 7 points, the book is going to make 1 unit from everybody who bets on Tennessee and 2 units from every person who bets on Jacksonville. Now that's fair!!
And as for the lines changing, I have been informed that for NFL football the spreads are revised at the end of each quarter and remain open until the start of the next quarter. So if Jacksonville is up by 10 at the end of the first quarter, a new spread would be set up (probably something like 12-15), whereby you can "buy" at the new price the team you "sold" to guarantee a profit. But you cannot bet after each play like at WSEX. Apparently in soccer you can bet more often because play is much slower.
Also, you must phone in the bets (online betting is not currently available at sportingindex). Thanks but no thanks Cons, I'll stick with WSEX - it is much more exciting for American sports and even if sportingindex was more secure because it was owned by the United Nations it wouldn't change the facts that the bets are different.
Looking at NFL football here are how the two differ:
WSEX Interactives for the Tennessee/Jax game on Sunday:
Assuming the line stays at 7 you'll probably see a spread set at 7.5 with Tennessee listed at 50-55 and Jax listed at 45-50.
This means that you can get even money on Jaxonville if you're willing to give up the extra half point (similar to action points). With Tennessee it will cost you 55 for a return of 100 - slightly better than if you bought 1/2 point. However the key is that this is just a starting line and as the play goes on the lines change. And in close games lines can fluctuate like crazy in the last quarter. The spread always stays the same but the buy/sell change. So with 3 minutes remaining, if Jacksonville is up 30-20 and they have the ball you would probably see a spread of something like Jacksonville 90-95
Tennessee 5-10. In better words if you think Tennessee can still score you can get 10 for 1. On the other hand if you are holding shares of Jax you can sell them for 90.
Say on the next play Jacksonville fumbles on their own 20 yard line. Realizing that Tennessee (needing 2 scores) is already in at least field goal range which would put them under the 7.5 point spread, you would probably see the line change to
Tennessee 75-80
Jacksonville 20-25.
In the space of 1 play you can make $65 on each share of Tennessee you just Jacksonville your shares are essentially worth 1/4 the value. And with each play/penalty etc., the spread changes fast and furiously. The only frustration with WSEX is when you place a sell too high and you are beaten by too many others doing the exact same thing. But it is fast, furious and exciting action.
Now onto spread betting (and this is from sporting Index which Cons keeps raving about).
Spread is set at 5-8. This means that in order to win on Jacksonville, they must win by at least 9 points. At 8 points you break even. For each point they win by more than 8 points you win 1 unit extra. However if you want to "buy" Jacksonville (the opposite of WSEX's terminology), they must win by less than 5 points. If they win by 5 points, then you break even. If they win by 6 points, you lose 1 unit. If they lose by 7 points (the actual spread) you lose 2 units. If they lose by 3 points then you would win 8 units.
So essentially the spread of 5-8 points is the juice for the book. If the final outcome is right on the line at 7 points, the book is going to make 1 unit from everybody who bets on Tennessee and 2 units from every person who bets on Jacksonville. Now that's fair!!
And as for the lines changing, I have been informed that for NFL football the spreads are revised at the end of each quarter and remain open until the start of the next quarter. So if Jacksonville is up by 10 at the end of the first quarter, a new spread would be set up (probably something like 12-15), whereby you can "buy" at the new price the team you "sold" to guarantee a profit. But you cannot bet after each play like at WSEX. Apparently in soccer you can bet more often because play is much slower.
Also, you must phone in the bets (online betting is not currently available at sportingindex). Thanks but no thanks Cons, I'll stick with WSEX - it is much more exciting for American sports and even if sportingindex was more secure because it was owned by the United Nations it wouldn't change the facts that the bets are different.
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