The point spread is perhaps the most popular variety of sports bets. The point spread is the number of points added to or subtracted from the final scores of both teams to determine the winnings or loss of a bet. One team is considered the underdog while the other team is deemed the favorite. On the other hand, introducing a point spread equals the playing field to make both sides of a bet equally attractive because normally, the odds are around -110 on each team.
Oddsmakers need to establish a suitable point spread for every game. The point spread usually is based on the gap between the two teams’ skills but is also affected by considerations of schedule, motivation, home-field advantage, and other intangibles. Once the game is over, the bookmaker will calculate the point spread – add it for the underdog or subtract it for the favorite- to determine which team will win the bet. If a team wins the bet, it means that the team covered the spread.
Covering, therefore, in sports betting is ‘covering the spread’ – when a team wins for those who place bets after the point spread has been applied. To expound on what exactly Betting on a team to cover is all about, we will provide a comprehensive explanation to get you started right on the dot!
What does it mean to cover in betting?
One of which is that we first have to establish what a cover bet means. Sometimes referred to as a backup bet, a cover bet has sometimes been used by gambler bidders to minimize the risk of potential loss. Mainly used as a side-sport wager, though primarily employed as a risk-reduction strategy to account for possible loss resulting from the primary bet placed.
What Does It Mean To Cover The Spread In Betting?
Okay, you like to bet and are already familiar with money-line bets. Now, it is time to discover What does it mean in betting to cover the spread. In India, sports bettors prefer making their wagers on the point spread. However, what does it work? Let’s start by explaining the point spread in simple terms. The spread, which is calculated by the bookmaker, is supposed to level the field a little more between the underdog and the favorite by giving a middle number.
Point spread betting is particularly popular in football and basketball, as each game usually has a high number of points. Spreads can be placed on hockey and baseball games, though they are set differently (we will explain this below). For now, we’re going to consider how the numbers work, as well as to interpret what the point spread means on the numbers in a betting line.
What is the mechanism behind a cover bet?
After specifying what a cover bet is, we should explain how to describe the mechanics of the working of such bets. Before making hedging bets, the individual should select a main bet and place one. Then, placing more bets, called cover bets, becomes necessary for other possible outcomes of the same activity. It is basically like insurance if the main wager fails.
This is slightly similar to both arbitrage betting and matched betting because it also covers multiples. However, this method does not offer any surety of keeping money as profit but only chances of returning some of the staked bets. Learn When betting what does it mean to cover through this blog.
Let’s make this even clearer with an example. Suppose you are betting on football and place the first bet on Team A to win a game with no conditions. Subsequently, however, the gambler could again decide to bet on Team A to draw or for the opposing Team B to win instead. Now, if the main bet is lost, the additional ones could amortize part of the possible losses.
Different Types Of Bet Covers
Cover bets come in many different types and serve particular purposes in different markets for sports. In horseracing betting, to make a 2-place cover bet means one is betting on a horse to win as well as to finish second. In this way, if the chosen horse is beaten on the track, part of the original bet can be returned.
The cover bet 2 places choice is not the only form of cover bet, and double chance bets are another example of a covering bet. They are usually applied in ice hockey betting markets, allowing people to put a bet on either a selected team to win and simultaneously include a draw in one bet.
Applying Cover Bets in Matched Betting
As already mentioned, cover bets resemble the matched betting technique. However, if this technique is used in conjunction with cover bets, it can acquire the winnings instead of only limiting possible losses. In case if the odds for the main bet and the cover are considered to be good, then both bets can be made together with any bookmaker to potentially secure some returns.
This is particularly true when using a free bet or bonus for your second bet or first bet. If one aspect of either outcome cancels out the other, meaning all eventualities are covered, then either part of the wager could turn a profit, thereby allowing you to “extract value” from those free bets. To ensure this can be done, use a matched betting calculator to explore the potential returns.
If you are new to matched betting as a concept, then our Bet Post website will guide you in everything related to this unique technique. We’re not only able to define what a cover bet is but also show you how we can use it to create some money. Our betting calculators, videocasts, and sports-related betting guides will make matched betting even easier with cover bets.
The Regulations Specify The Guidelines
Different bookmakers will take their approaches to the laws governing the requirements for covering bets. Nonetheless, they will rarely be so unique that they can’t be distinguished from one another. As such, it is informative to briefly consider the ambiguous laws governing cover bets. In other words, if your selected horse doesn’t win but manages to fall in the desired places, you will be returned your stake money together with a reduced price for your chosen one.
- Place a Cover Bet on 2 places – get your money back if your selection comes 2nd.
- Bet on a horse to finish in the top 3 and get your money back if it comes in 2nd or 3rd place.
- Bet on 4 places and get your money back if your pick comes in 2nd, 3rd, or 4th.
Others who are not to take part in the race will have their bets nullified, and for the running horses, Rule 4 deductions will only apply without the price of the cover. The number of locations included stays constant unless the number of horses competing drops very significantly. The dead-heat rules still apply, but the Best Odds Guarantee is usually not on the combination bets.
Summary
In sports betting, covering the spread means a team beating the point spread listed by the sportsbook. Every game has a favorite and an underdog, and when a player bets that the favorite will win by more than the point spread to cover it, they will win their bet. A point spread wager is one of the top three options to place a bet, often offering the biggest payout the player can get for their single bet. Hope What does to cover mean in betting is clear now!
