Spread betting, also known as point spread betting, involves wagering on the margin of victory in a game. Instead of merely predicting who will win or lose, you bet on whether a team will exceed or fall short of the spread, or line, set by the sportsbook. Spread betting is commonly used in sports where two teams are unevenly matched, like football and basketball, making it an essential part of strategies for betting sports.
How Spread Betting Works:
In spread betting, sportsbooks set a spread based on the expected difference in points between two teams. The favorite team, expected to win, is assigned a minus (-) value, indicating they must win by more than a certain number of points. The underdog, expected to lose, is given a plus (+) value, meaning they can lose by less than the spread or win outright.
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Understanding Spread Betting Lines:
Consider this line from the NBA Playoffs matchup between the Denver Nuggets and the Los Angeles Lakers:
Nuggets: -5.5 (Favored)
Lakers: +5.5 (Underdog)
In this instance, to win a bet on the Nuggets, they must win by over 5.5 points. Conversely, in order for a bet on the Lakers to be successful, they need to win or lose by less than 5.5 points.
In spread betting, you may often come across half-point spreads (like -3.5 or +7.5). These are used to ensure there's a definitive winner or loser for every bet. Without the half-point (e.g., a 3 point or 7 point spread), it's possible for a game to end exactly on the spread, causing a ‘push' where all bets are refunded. The use of half-points eliminates this possibility.
Why Sportsbooks Use Spread Betting:
One reason sportsbooks use spread betting is to encourage an equal amount of betting on both teams involved in a contest. The spread is set in order to account for the offset that occurs in odds for moneyline bets: when one team is a heavy favorite, they will often have odds that will disincentivize people from betting on them.
With a line set for the spread, either side of the bet will have comparatively low odds, typically between -105 and -110, much more enticing odds for many bettors. The spread creates a more level playing field in terms of betting, which allows sportsbooks to minimize their risk.
Successful Strategies for Spread Betting:
- Holistic Team Evaluation: Go beyond win-loss records. Consider team dynamics, player synergies, current form, and historical performances against similar opposition.
- Understand Line Movements: Monitor how the spread changes in the lead-up to the game. These movements can indicate public opinion and potentially exploit skewed lines.
- Explore Alternate Lines: Many sportsbooks offer alternate lines where the spreads are adjusted, thus changing the odds. This can provide new opportunities for value.
- Understanding Key Numbers: In sports like football and basketball, certain numbers are scored more frequently due to the scoring system. In football, for example, the numbers 3 and 7 are crucial because of the frequency of field goals and touchdowns. Recognizing these key numbers can provide an advantage in spread betting.
- Bet Against the Public: Often, the public tends to favor the favorite team, which can skew the spread. By betting against the public in these situations, you can often get better value.
How can Hall Of Fame Bets Help You Bet on The Spread?
Combining powerful data analytics with a simple user interface to make all your betting research easier, Hall of Fame Bets is the premier sports betting analytics research platform. Using our platform, you can seamlessly filter through data for teams and players alike to provide insight into past performances in order to find value in matchups and make smarter bets.
When it comes to the spread, there are a number of key insights that you can research with Hall of Fame Bets, including past matchups between teams or other similar competition, how teams fare with or without certain players, or even how they have performed over the past 5, 10, 20, or even full season, all valuable pieces of information when it comes to betting on spreads.
Conclusion:
Spread betting brings a fresh dimension to sports wagering, inviting bettors to strategize based on game dynamics and team potential: rather than just victory or defeat, it matters by how much. With a clear understanding of spread betting and a sound strategy, you can enhance your sports betting adventure.
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All odds in this article are from DraftKings Sportsbook.
