Anybody on here into spread betting. Only recently opened an account with Sportingindex.com.Was only aftet i opened the accont i realised it was a spread betting site.tried to understand it but could'nt really figure it out,so i just thought to hell with that.Then i received an e-mail to say they deposited a free £50 into my account.So as ya do i thought ok i'll try place a bet. Went into the multiples section.In here you pick 3 teams and then it gives u a buy price and a sell price.So i picked Arsenal to win home to West Ham and Cardiff and Ipswich at home on the same day.All 3 won happy days.Now when i was placing the bet it would only allow me to place £2.85 stake i wanted to place £10.Anyways the profit was 92.65.I wonder was it only letting me place £2.85 as i did'nt have enough in my account to cover the maximum i could lose if i bet £10.(if that makes sense to people). Now i do understand the more correct you are the more you win and the more wrong you are the the more you stand to lose.The part i aint sure about is how do i work out when placing the bet whats the maximum i stand to win and lose. So lets take the bet i got up.Sell was £12.45(i think) and Buy was £17.50.So i bought at £17.50 x £2.85 and the profit was £92.62.... Anybody understand this.
This may help: http://en.wikipedia.org/wiki/Spread_betting But after reading that im even more confused!!!
Dont understand £'s only €'s Kinda understand what your saying. Just done the sums. Cant figure it out. if you bought @ 17.50 X 2.85 that would give you 49.87 plus the purchase price back is 17.50. Cant see where you got 92
Cheers Axel96. Yes i've read up on it a little but can't find an example for my bet.When taking a bet it does'nt give odds for each team.Now weather or not u need to know this i don't know.It's just that say if 2 teams win and 1 loses what happens then as u are more correct with your prediction than wrong.The example below is a decent 1.But i stil can't figure out how it works for my bet. Example: In a football match the bookmaker believes that 12 or 13 corners will occur, thus the spread will be set at 12-13. * A gambler believes that there will be more than 13 corners, and "buys" at £25 a point at 13. * If the number of corners is 16, the gambler wins (16 - 13) = 3 x £25. * If the number of corners is 10, the gambler loses (13 - 10) = 3 x £25.
lol I know Joe they gave me £50 so thst why i quated £s. See it's got to do with the spread which in this case is between Sell was £12.45(i think) and Buy was £17.50.The thing is i don't know what my spread ended up as cause they did not show me.I think it ended up over £17.50 somewhere And they x £2.85 by how many times over the £2.85 you are Ah sure i'll do my bet for 2nite see what happens.