A few questions from a newbie...

[tofu]

Hey lads, just thought I would firstly say this is an excellent forum and I can't believe I have only just discovered it. Basically I am an experienced gambler, well at least I thought I was until I had a read through these pages! So I thought I might take this opportunity to ask some questions to you all; Spread betting- Can some explain to me what this is in very basic terms? Betfair- How does it work exactly? Straddle- What does this mean?

[aliando]

Re: A few questions from a newbie...

Spread betting- Can some explain to me what this is in very basic terms?

spread betting is very different to normal betting. With normal betting, you either win/lose your stake (depending on the bet, you sometimes get your stake returned eg as in draw no bet). With spread betting, your stake is mulitplied by the number of points away from the spread offered - this may be easier to show in an example: Team A play Team B The spread for the number of bookings is offered at 38-42. Each spread betting bookie will give you information on how bookings are calculated, but it is often 5pts for a yellow, 10 for a red. if you think there will be lots of bookings, you could BUY bookings - this means betting on over 42 points. if you think its a game between vicars and cannabis smokers, you may decide to SELL bookings - this means betting on under 38 points. if the game finished with 3 yellows and no reds, it would mean a final score of 15 points. If you'd bought bookings, your loss would be (42-15) x your chosen stake (so, for a £1 stake per point, you would have a £27 loss). If you'd sold bookings, your winnings would be (38-15) x your chosen stake (so for a £1 stake, you would have a £23 profit). Of course if the final bookings total came to 40points exactly, everyone loses and the bookies have judged the market perfectly :ok The obvious attractions here is that your winnings can be multiplied x amount given a really good day - markets like runs scored in the cricket, for example, can provide a nice pay day. But, obviously, that works 2 ways and if the bet doesnt work out well, you could find you're in for a hefty loss. Most responsible spread betting indexes will offer stop-loss. This means that you know the maximum you can lose should your bet really go tits up. Equally it will maximise your winnings too but is a helpful way to start playing and understanding without as much risk.

Betfair- How does it work exactly?

This is called an 'exchange' and is simply anyone betting against anyone else. You chose the odds, place your bet and wait to be matched. You can bet as a punter, or play like the bookie would and lay events (bet tht they will NOT happen). It offers us punters the possibility of higher odds than the bookies. Betfair take a % of any winnings made (normally 5%) and tht is how they make their money - all other winnings go to the successful punter.

Straddle- What does this mean?

if we're still talking sport then I better leave this to the horse racing people :unsure