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Spread betting was invented by Charles K. McNeil, a mathematics teacher from Connecticut who became a bookmaker in Chicago in the 1940s. [5] In North America, the gambler usually wagers that the difference between the scores of two teams will be less than or greater than the value specified by the bookmaker, with even money for either option.
McNeil's invention, the point spread, revolutionized sports betting by introducing a method of wagering on the margin of victory between competing teams. This system, more commonly used in football and basketball, aims to level the playing field by creating a form of handicap between the favorite team and the underdog. The point spread is ...
Spread betting are wagers that are made against the spread. The spread, or line, is a number assigned by the bookmakers which handicaps one team and favors another when two teams play each other and one is perceived as being more likely to win. The favorite "gives" points from the final score, and the underdog "takes" points.
The most popular way of betting is by laying or getting points.
The Chiefs had a great season in the NFL standings, but not for bettors.
The largest spread for a wild-card game in NFL history before Steelers-Chiefs is either 11 or 11.5 (because competing sportsbooks have different spreads sometimes, the records can vary).
Spread betting allows gamblers to wager 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. For example, a wager can be based on the when a point is scored in the game in minutes and each minute away from the prediction increases or reduces the payout.
A variant of over-under betting, known as Under Over, [5] is a dice game played at various festivals. The object of the game is to predict whether the dice will roll to a total of under 7, over 7, or at 7. The game is typically played with 2 dice. A player typically places a wager on one of three spaces. These spaces are: