🤔 What is spread betting? The basics explained
Before I get into the specifics of spread betting in Ireland, let’s look at the concept more generally and how it compares to regular
online gambling.
Spread betting is a format that sports have borrowed from the financial world, and it involves betting on the margin of a particular outcome. This is what makes it different from fixed odds betting, as you are not wagering or straightforward “win or lose” and “yes or no” outcomes.
⚙️ How does spread betting work?
With spread betting, you are presented with a margin for a particular outcome, such as the number of total goals in a football match or runs in a baseball game. This is what is known as the “Spread”.
You can then choose to “Buy” if you think the total will be higher or “Sell” if you think it will be lower. The way that payouts work is also different, as you can win more than you would with fixed odds betting, but on the other hand, you can also lose more than your initial stake.
To explain exactly how spread betting works, I’ve used an example using Premier League football below:
Let’s say that in a match between Liverpool and Manchester United, the spread offered on the total goals to be scored is 2.8 – 3.
- If you think there will be more than three goals, you can “Buy” at 3
- If you think there will be less than three goals, you can “Sell” at 2.8
Here are a couple of potential winning and losing outcomes for each option:
💶 Buy at 3 for €10
If you are to buy for €10 at 3 and there were seven goals total scored, you would win €40, calculated as follows:
On the other hand, if just one goal was scored, you would lose €20:
- 1 – 3 = -2
- -2 x €10 = -€20
🪙 Sell at 2.8 for €10
If you are to sell at 2.8 for €10, the potential outcomes would effectively work the other way around:
Loss on seven goals scored:
- 2.8 – 7 = -4.2
- -4.2 x €10 = -€42
Profit on one goal scored:
- 2.8 – 1 = 1.8
- 1.8 x €10 = €18
🌗 Spread betting Ireland
– Pros and cons
Now that I’ve explained exactly how this form of betting works, let’s weigh up the pros and cons:
| Pros | Cons |
– Potential to win more
– A diverse range of options
– The actual result doesn’t affect your outcome
– More flexibility than fixed odds betting | – Higher risk as you can lose more than your initial bet |
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🖥️ The best sites for
spread betting IE
Spread betting isn’t available on your regular
online gambling sites in Ireland. Instead, you have to go to specialist sites that offer spread betting specifically. However, there are some exceptions, like betting exchanges, that offer both.
In the banners on this page, you can see my current ranked list of the top sites for spread betting in Ireland in 2024. These ratings are based on current ratings and updated regularly. You can also read my full operator reviews for more details about any of the featured brands.
Each of the sites displayed on this page has been tested and rated either by myself or another expert member of our team. As a result, you can have 100% trust and confidence in my recommendations.
🌐 Is
spread betting tax free
in Ireland?
Understandably, as spread betting stems from the world of finance and investment, some of you may have tax concerns. However, I’m pleased to inform you that winnings from spread betting in Ireland are exempt from tax, including the following:
- 🏦 Capital Gains Tax
- ⚖️ Stamp Duty
- 🫰 Income Tax*
*Pretty much all of you will be exempt from spread betting-related income tax. However, as is the case with regular gambling, your winnings may be taxable if you are classed as a professional gambler – i.e. gambling is your main source of income.
🎁 Spread betting bonuses
As is the case at regular
online gambling sites, you can find bonuses at most spread betting platforms too. Although the T&Cs of the bonuses differ quite a bit for spread bets, the types of offers available will be quite familiar to you.
For example, you can find deposit matches, bonus free bets and cashback. However, odds boosters and other such bonuses aren’t available due to the nature of how spread betting works. As always, you can check out the
betting bonus Ireland
has to offer in the banners on this page.
💥 Live spread betting
Just like with fixed odds betting on the best gambling sites in Ireland, you can also place spread bets in play. While it is not for the faint-hearted, as the spread can often move as quickly if not faster than odds, in-play spread betting can be more exciting and even help you to reduce the risk in some cases, as we will see in my top tips below.
📊 My top tips for online
spread betting in Ireland
If you are new to spread betting, here are a few of my top tips for getting started as an expert:
As you have seen, spread betting is much riskier and you have the potential to lose more than you stake. Even more so than with fixed odds betting, I strongly advise that you start small, and bet even less than you can afford.
Before you place each bet, quickly do the maths detailed in my examples above. This will give you the realistic worst-case scenario so that you can price it into your budget.
One of the easiest ways to limit the risk is to avoid highly volatile markets. For example, a total football goal spread is unlikely to spiral out of control, as high score lines are rare. On the other hand, if you were to be on a total corner spread the total could be very low or very high depending on how the game plays out.
👀 Watch first then bet in-play
In fixed odds betting, live bets are generally more risky. While this can also be true of spread betting, you can use it to your advantage. If you watch the first five or 10 minutes of a match, you can get an idea of how it is going to go which can help influence if you buy or sell and how much to bet.
✍️ Make your own spreads first
In the past I have found it useful to create my own spreads for a particular match before looking at what the bookmaker is offering. This can give you a decent indication of how good your knowledge is of the game and teams in question vs the betting site. If you’re widely wrong, it’s perhaps best to avoid that game.
👈 The points spread
Before I finish off, I’d better cover the points spread, which is popular among US bettors and is often confused with spread betting. The points spread is actually a form of fixed odds betting, however, it does bear some similarities to spread betting.
With the points spread, the bookie balances up a contest by taking points off of the favourite and giving them to the underdog. The favourite needs to beat the spread for your bet to win or an underdog bet can still pay out if they lose, but stay within the spread.
💭 Example using NFL:
- Green Bay Packers (-6.5) – Favourites
- New York Jets (+6.5) – Underdogs
🧑⚖️ Spread betting Ireland
– Conclusion
Hopefully, you now have a full understanding of spread betting and how it works. To get started, you can now check out the best sites in Ireland on the banners on this page to find your ideal platform. If you are new to this game, just remember that small bets and doing everything you can to mitigate the risk are the two most important things.
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❓ Spread betting Ireland
FAQ
🙂 Can I spread bet in Ireland?
Yes, spread betting on sports in Ireland is possible. You can check out the best sites for spreading betting in IE here at Jaxon.gg.
🏦 Is spread betting taxed in Ireland?
While it is the case in some other countries, winnings from spread betting are not taxed in Ireland, save for a few exceptional circumstances. If you wish to know more, check out my article on spread betting in Ireland here at Jaxon.gg.
💰 Is spread betting profitable?
Spread betting does have the potential to be more profitable than fixed odds betting. However, that is offset by the fact that it is also riskier, as you stand to lose more than your initial outlay.
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