Spread betting is a wager that takes into account the outcome of a sports event. Since many games or events always have a favorite, or very determined odds, this wager offers the possibility of betting when the result seems to be one sided, so the line is very sharp. This kind of bet uses the Point Spread method to even the number of participants in both sides of the spread and makes the bet more attractive to bettors. It also turns regular games into more fun experiences to bet on because you bet on a range of outcomes.
This wager rewards the accuracy of the bet; it's not just a regular win or lose bet. You bet whether the outcome will be above or below the spread set by the sportsbook. In simple terms, the bettor will wager on whether the score difference between 2 teams on a game will be above or below certain total.
The scores are usually represented in half-point fractions to eliminate to possibility of a Tie (Push), because in case of a tie or push the event is declared no action, so the money is not won or lost. To avoid this scenario some sportsbooks could use, in addition to using the half point system, the all ties win or all ties lose rule; in this way they don't have to refund the money. Some times in spread betting Teaser Bets are is used to enhance the probabilities of the bettor for certain amount of Teaser points in the total score of the game, but in exchange of this advantage the bettor would lose some of the payout money; the money they win is less than Even Money (wagering proposition with even odds, in which the payout is the same than the bet). One variant to this is the Reverse Teaser, in which the bettor receives a more thin line, altering the odds against him in exchange of a better payout, so he gets paid more than Even Money.
Another variant to the game is called the Over/Under (O/U, Over-under or Total). In this side bet you wager on the total score of both teams; the sportsbook would offer a single number for the game's total and the bettor would choose whether the final score would be over or under this number. Sometimes this Total bet is an integral part of spread betting, so both results have to be achieved to receive the payout. So, not only the difference between the two teams must be in the range of the Point Spread, but the over-under requirement must also be met; this kind of bet is better paid.
