betting line

2009-01-21T14:04:00.000-08:00

Line moves in hockey betting are more noteworthy than they are in other sports, for the sheer reason that fewer people gamble on hockey
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Does the betting line not moving speak volumes to the public perception of OSU or to the fact that the odds makers already took into account
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betting line

2008-06-12T07:36:00.000-07:00

Spread betting is any of various types of wagering on the outcome of an event, where the pay-off is based on the accuracy of the wager, rather than a simple "win or lose" outcome, which is known as money-line betting. A spread is a range of outcomes, and the bet is whether the outcome will be above or below the spread. Spread betting has been a major growth market in the UK in recent years, with the number of gamblers heading towards one million.[1] As with all gambling, however, spread betting carries a high level of risk.[2] In the UK, spread betting is regulated by the Financial Services Authority rather than the Gambling CommissionThe general purpose of spread betting is to create an active market for both sides of a wager, even if the outcome of an event may appear a priori to be biased towards one side or the other. In a sporting event, for example, a strong team may be pitted against a historically weaker team. Persons betting on the event normally would be likely to favor the better team, to such an extent that there would be very few, if any, betting on the team perceived to be worse.
The use of a "point spread" evens out the market towards an equal number of participants on each side of the wager. This allows a bookmaker to make a market by accepting wagers on both sides of the spread. The bookmaker charges a commission and acts as the counterparty for each participant. As long as the number of participants on each side is roughly equal, the bookmaker is unconcerned with the actual outcome; profits instead come from the commissions.
By far the largest part of the official market in the UK concerns financial instruments; the leading spread-betting companies make most of their revenues from financial markets, their sports operations much less significant. For example, in the figures for the second half of 2006, the income derived from financial spread betting at IG Group, was £29.3m, compared to £3.8m in sports.[citation needed]. Other Major companies in the sector are CMC Markets, City Index and MF Global Spreads. Financial spread betting in the United Kingdom closely resembles the futures and options markets, the major differences being
the 'charge' occurs through a wider bid-offer spread; spread betting has a different tax regime compared with securities and futures exchanges spread betting is more flexible since it is not limited to exchange hours or definitions, can create new instruments relatively easily (e.g. individual stock futures), and may have guaranteed stop losses (see below); and the trading is off-exchange, with the contract existing directly between the market-making company and the client, rather than exchange-cleared, and is thus subject to a lower level of regulation. Although the spread betting companies themselves are some of the most regulated entities in the City of London. Unlike fixed-odds betting, the amount won or lost can be unlimited as there is no single stake to limit any loss. However, it is usually possible to negotiate limits with the bookmaker:
A "stop loss" will automatically close the bet if the spread moves against the gambler by a specified amount. A "stop win" will close the bet when the spread moves in a gambler's favour by a specified amount. Spread betting has moved outside the ambit of sport and financial markets (that is, those dealing solely with shares and futures), to cover a wide range of markets, such as house prices.[6]
In a falling stockmarket, financial spread betting can also be used by investors as a means of hedging against predicted losses in a portfolio of sharesSuppose Lloyds TSB is trading on the market at 410p bid, and 411p offer. A spread-betting company is also offering 410-411p. We use cash bets with no definite expiry.
For example, if I think the share price is going to go up, I might bet £10 a point (i.e., £10 per penny the shares moves) at 411p. We use the offer price since I am "buying" the share (betting on its increase). Note that my total loss (if LloydsTSB went to 0p) could be up to £4110, so this is as risky as buying 1000 of the shares normally.
If a bet goes overnight, the bettor is charged a financing cost (or receives it, if the bettor is shorting the stock). This might be set at LIBOR + a certain percentage, usually around 2/3%.
Thus, in the example, if Lloyds TSB are trading at 411p, then for every day I keep the bet open I am charged [taking finance cost to be 7%] ((411p x 10) * 7% / 365 ) = £0.78821 (or 78.8p)
On top of this, the bettor needs an amount (AKA margin) in the spread-betting account to cover the bet. Usually this is either 5 or 10% of the total exposure you are taking on but can go up to 100% on illiquid stocks. In this case £4150 * 0.1 or 0.05 = £411.00 or £ 205.50
If at the end of the bet Lloyds TSB traded at 400-401p, I need to cover that £4110 - £400*10 (£4000) = £110 difference by putting extra deposit (or margin) into the account.
The bettor will usually receive all dividends and other corporate adjustments in the financing charge each night. For example, suppose Lloyds TSB goes ex-dividend with dividend of 23.5p. The bettor will receive that amount.

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