Spread betting on horses hasn't been around for very long. It is a form of betting where you are betting on spreads relating a number of different things such as winning distance and race card numbers. To find out the ins outs of spread betting go to the relevant section of this website to find out more. Here we'll just deal with bets relating to horse racing.
With spread betting you are betting against a prediction made by a spread betting company. The more right you are with your prediction the more you win and the more wrong you are the more you lose.
Here is a list of some of the different bets you can make.
Betting on favourites
On the morning of a race meeting the spread betting company will quote a spread based on the performance of the favourites in the days races.
Say today's spread is quoted as 65-68. There is a points system that gives the favourite in each race a points score depending on where it finishes. These are:
1st = 25 points
2nd = 10 points
3rd = 5 points
0 points for finishes in any other place.
If at that meeting there were six races you have to work out how many points the favourites will get in those races. When placing a bet you have to decide if the likely score will be greater than 68 or fewer than 65. You then bet an amount per point on either of these two options.
Say you bet £10 per point that the favourites would score greater than 68 and the favourites in the six races finished 2nd 4th 6th 1st 1st and 1st
The points total would be 10+0+0+25+25+25=85.
As you were correct to work out how much you win just work many more points were scored by the favourites and minus from the high number quoted by the spread betting company then multiply that by the amount you bet per point.
In this example it works out as (85-68)x10=£170
If favourites had finished 3rd , 4th 6th ,1st , 5th and 2nd . It would work out as follow.
Points scored= 5+0+0+25+0+10=40
Total lost= (65-40)x10=£250
So as you can see it is easy to win lots of money spread betting but also easy to lose a lot as well.
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