New Sports Spread Betting Offers Something Different
The introduction of a high-risk sports betting market in Australia is raising concerns with many people fearing for local problem gamblers, but its also raising the excitement levels of those looking for a way to win big. The new system of betting is called sports spread betting and it promises punters huge payouts. Already offered by a few leading bookmakers, the high-risk, high-reward system of betting will involve the bookmaker offering a particular margin on a game. Punters then place bets on whether the outcome of the game will be higher or lower than the margin set.
Australia already has a form of margin betting. However, sports spread betting differs in that the punter will be rewarded if the margin is much bigger than the bet itself. The danger of this type of betting is that if the punter is wrong, they will be liable for more than their original stake. This type of complex betting system, coupled with the fact that it offers huge winning margins is causing concerns with many local gambling experts. The potential impact on the inexperienced and problem gamblers could be dire, however those that know how it works could reap the rewards, so it certainly has its perks too.
A Bet with a Twist
Sports spread betting works by the bookmaker setting a line on a major sports game. For example, the bookmaker can set a line of 10 points in a rugby match between Australia and New Zealand with Australia set for the win. The punter must then choose to bet on 11 points or over/under 9 nine points. If the punter chooses Australia to win by a margin of over 11 points and final result is a 15-point victory, the payouts would be 5x the bet stake as it is 5 points over the line. This could result in a massive win, especially if the initial wager is quite high.
However, if Australia lost the match or even won but by a margin less than 10 points, the punter would be liable. If Australia lost by four points on the same bet, the punter would be liable for 15x the total bet stake as the point margin is 15 points below the line. Responding to the concerns for problem gamblers, leading betting sites offering this type of wagers have pointed out that there will systems in place like weekly spending limits, as well as specialised spread betting information available on the site.
The decision to introduce spread betting into Australia comes on the back of recent betting reports out of Britain. The reports showed that overall, spread betting clients are worth up to four times that of fixed odd bettors and ensure massive profits compared to traditional betting.