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Your handy guide to spread betting
20th August, 15:36Your Handy Guide to Sports Betting
Looking ahead to this year's NFL season, it's tricky to know which team to back.
Of course, the New England Patriots are a safe bet given last year was their sixth championship, but who knows - in the 2019-2020 season, perhaps the Los Angeles Rams could take their revenge? Or, maybe the New Orleans Saints will finally have their day in the sun? While the hottest contenders in the league are yet to reveal themselves, you don't always have to bet on the winner to see big returns. If you're in New Jersey sports betting, have you considered trying your hand at spread betting? Today, we're providing a handy guide to how it works so that you can try it once the season starts.
What is spread betting?
Put simply, with spread betting in sports rather than betting on a winner or a loser, instead you bet on a variety of possible outcomes. What these outcomes might be is quite literally, endless. In the case of NFL, you might bet on the number of points scored, who might score first or the time of the first touchdown. The idea is that you bet against a 'spread' - this spread covers a particular outcome, and features two prices - a 'buy' price and a 'sell' price. You apply your knowledge for NFL to establish whether that spread price is accurate. You buy if you think the price is too low, and sell if you think it is too high.
Is it beneficial?
If you're highly clued up on the game and each and every players stats, spread betting can be incredibly beneficial. The more knowledge you have, the more likely you are to get things right. This is because with spread betting the more times you're right, the more you win. While you can win back you stake many times over if successful with spread betting, things can of course go the other way. The tricky thing with spread betting is that it's super specific, which doesn't leave much room for error.
Spread betting tips
To keep your losses to a minimum, follow these useful tips:
*Assess the worst case scenario - Always consider the possibility that you might lose. If after a few moments of careful consideration, you're still happy with the bet, then proceed. It's important to understand the wager that you're taking to avoid any nasty surprises.
* Play it safe - If you're unsure of how to proceed, just play it safe. It's far better to win a small amount than to lose a big one.
* Set a budget - Spread betting has the potential to run up losses rather quickly. Therefore, only ever bet with money you are okay with losing.
* Choose an even stake - Unlike normal betting, where all you stand to lose is your stake, with spread betting you can lose more if you're defeated. Always choose a stake that you're comfortable with.