Spread Betting (Sporting Index)

Can somebody explain this to me?

I joined Sporting Index but it looked Hella complicated so I left it. They just gave me a tenner though so I placed a 1p bet on tennis but ended up losing 65p.

Why? And more importantly thank * I never stuck a quid on it

 

@StPauli1916

 

They are a spread betting firm Sean so it is more like trading on the stock exchange than fixed odds betting.

For instance if you looked at yesterday's game they may have had Celtic's supremacy at 1.2-1.4. so you would have bet depending on whether you thought Celtic would win but also by how many.

So if you fancied us to smash them you would have bought Celtic's supremacy at 1.4. If you did that for £10 a tick you would have made £160 as we won by three goals so 3-1.4 x £10 = £160.

However if we had lost 3-0 you would have lost £440 as the makeup up would have been -3.

I am guessing from your example you fancied a player and they have lost either a certain amount of points or games depending on exactly what the bet was.

 

I think most of them have a stop at a loss so you can protect yourself against losing £1000's.

I remember my da lost about 3grand on the Scottish Grand National a few years ago. He laid a horse that he thought had no chance and the * thing won

 

Remember the story a few years back a commentator said a horse had fell so someone gave stupid odds on it winning on betfair. The horse had not fell and ended up winning

Boy tried to make an easy few quid and lost a fortune!

 

I honestly had no idea what I was doing. I stuck a penny on the first bet on the first page to see what I was up against.

I'm guessing you need to watch what you bet on so you can cash out at the optimum time?

 

So basically 65 people bet against my penny bet is that accurate?

 

You don't have to cash out Sean. You have to try and figure out what your maximum loss is though if it all goes wrong. In tennis if you are betting on a players supremacy then the maximum loss would be their supremacy plus 18 games if they lost 6-0,6-0,6-0.

 

* sake. Hink Al stick tae 50p accumulators