Betway is one of the most recognizable brands in sports betting due to an aggressive marketing campaign where its name/logo appear on screen at just about every professional sporting event in North America.
Although Betway is only available in about five states it is an exceptional option for spread betting. Betway creates competitive lines and odds for games and matches around the globe, enabling bettors to max out their profit.
If you have been thinking about gambling with Betway but haven’t pulled the trigger yet, here’s a crash course on how to bet spreads with the sportsbook.
How to Bet Spreads on Betway
Step 1: Create an Account or Sign In
If you don’t have a Betway account, you’ll need one to start gambling on its app. Sign up by clicking one of the Get Bonus buttons above or on our Betway hands-on review, and use our referred promo code to unlock the sportsbook’s best offer if applicable (a promo code isn’t always needed).
Step 2: Deposit
Add funds if you don’t have them in your account already. Remember the method with which you deposit is often the option you must use to withdraw, and credit card deposits are not allowed in New Jersey.
Step 3: Peruse Betting Markets
Betway offers odds on more than 2,000 games and events around the globe each week. Peruse the spread bets you wish to make and find the one that works for you.
Step 4: Place Your Bet
Enter the amount you wish to bet. Press place bet and root for your wager to hit!
What Is Spread Betting on Betway?
Spread betting is one of the most popular methods of wagering. To entice bettors to wager on games that might appear lopsided on paper, sportsbooks assign a predetermined number of points a favorite must cover and assigns more lucrative odds, like -110, if it does. If the underdog wins outright, or loses by fewer than the predetermined number, then it covers or beats the spread.
For instance, if the Miami Dolphins are a heavy favorite in their game against the Jacksonville Jaguars, a sportsbook might make them a 7-point favorite before the game. The Dolphins might have -275 moneyline odds, which means a bettor would win $0.36 for every $1 wagered, but to bet on the Dolphins to cover the spread would assign -110 odds, which pays out at $0.91 profit for every dollar bet.
The Jaguars might be +240 moneyline odds, because they would be highly unlikely to win, but for them to beat the spread, or lose by seven points or less, might be -110 odds as well.
A Dolphins spread bet would only win if they won by seven points or more. A Jaguars spread bet would win if they won outright or lost by fewer than seven points. If Miami won by exactly seven, the bet would push, and the bettor’s stake would be returned.
How Do Betway Spreads Work?
Betway assigns spreads for favorites and underdogs to cover for each game each day. With Betway, bettors can feel comfortable that they’ll get a competitive spread and standard odds (usually between +100 and -120) for all of their spread-betting needs.
There are times when Betway, like other sportsbooks, will have extremely short odds on an underdog to cover a spread, but typically those are reserved for hockey and baseball (whose spreads are referred to as puck-line and run-line). A playoff hockey game might feature -240 odds for an underdog to cover 1.5 points and +200 for a favorite to win by two goals or more.
Still, bettors should feel comfortable placing spread wagers on Betway if they live or are traveling to a state where the sportsbook is live.
Betway Spread Rules
Betway has rules on spread betting. Here are some of them:
- Pushes:If a favorite wins by exactly the same amount as the spread, the wager is a push and the sportsbook returns the bettor’s initial stake back.
Spread vs Moneyline
Betting on a favorite/underdog to cover the spread vs. win a moneyline wager can be a significant difference. For instance, if a favorite is assigned a 14-point spread, it is significantly more difficult for the bettor to win than to wager it to win by at least one point.
However, moneyline odds in a 14-point-spread game might be -900, or $0.11 profit for every $1 wagered, and the spread bet might be -110, or as previously stated, $0.91 for each dollar bet.
Underdog vs Favorite
Favorites are the teams with the minus point spread assigned, and the underdog is the team that gets the plus point spread. For instance, in the game referenced above, the Miami Dolphins would be listed at -7, and the Jacksonville Jaguars would be +7.
Underdogs are typically assigned plus-money moneyline odds (+100, +150, +240, etc.,) and receive the plus point spread number. There are times when an underdog will be assigned minus moneyline odds, usually the underdog will be -105 and -110 spread odds at +1, but an easy way to distinguish which team is favored is which has the minus number.
What Is an Alternate Spread on Betway?
Like most online sportsbooks, Betway offers bettors odds for alternate spreads, or teasers, they can wager. Usually alternate spreads can carry far less-lucrative odds, which is why they typically make extremely valuable parlay legs.
For instance, in the Dolphins vs. Jaguars game referenced above, a bettor might want to wager on Miami to cover a touchdown, or 5.5 points, instead of trusting it to win by seven-plus points. Betting Miami to cover 5.5 will undoubtedly have far-shorter odds, like -140 vs. -110, because the Dolphins are more likely to win by six or more than they would be to win by more than seven. But a -140 leg in a parlay wouldn’t alter a parlay’s odds by a lot and make the multi-leg wager more likely to hit.
My best teaser came in the Boston College vs. Notre Dame game in 2020. I teased BC to cover 14.5 points as a parlay leg when the Fighting Irish were a 13-point favorite. The Eagles lost 41-27, but I was a winner, and my four-leg parlay hit.
Betway NFL Point Spreads
If all things are equal in an NFL game traditionally the home team would be favored by, or lay, three points. However, every game each week features a vast array of spreads depending on how lopsided a game appears. Some games feature road favorites, sometimes by as many as seven points, and there are always a few double-digit home favorites, including some games where a team is asked to cover more than two touchdowns.
Betway offers competitive spreads against other of its peer sportsbooks, making it a great option for football betting. Plus, Betway offers Betway Boosts, where it boosts odds on spread bets on NFL games each week.
Like other sportsbooks, Betway assigns a spread for the favorite and underdog for the Super Bowl each February. Because the Super Bowl is like Christmas for sports bettors, Betway will also assign odds for alternate spreads for the big game.
Plus, bettors can take advantage of all the great betting markets, like props, moneylines and totals when the Super Bowl is set, and they can place futures wagers, or bet on a team to win the championship or reach the Super Bowl, every day of the year.
Spread Bet Strategies
The best way to bet spreads is steer clear of large ones. I know, I know. You want to be able to bet your favorite team to win and win money, and sometimes when your team is dominant you need to try and bet it to cover a double-digit point spread. Just remember that betting teams, in pro sports especially, to win via a rout is a good way to lose your money.
Seek out the best NFL odds and most favorable outcome. If your favorite team or team you wish to wager is a 10-point underdog, bet it to cover at -110. If it is a 2-point underdog, bet it to win a moneyline wager. If it is a 3-point favorite, bet it to cover. If it is a 12-point favorite, steer clear, unless there’s an extremely favorable matchup or you want to tease down the spread to 7.5 as part of a parlay.
Spread Betting for Beginners
Get comfortable by dipping your toe in. The best way to learn how to bet is to do it. That’s why sportsbooks offer new bettors promos like risk-free bets, first-deposit matches and bet and gets: they want you, the player, to learn how to bet and get comfortable so you’ll keep coming back.
Start by betting a favorite to cover a small spread and see how it goes. If you had fun or enjoyed it, do it again. Maybe tease a couple of spreads and make a parlay, or add two-or-more spread bets as a parlay to see why it is imperative to learn how to tease spreads up or down.
Also, beginners and seasoned bettors should both shop around across different US sportsbooks to get the most value out the placed wagers.
Trial and error is your friend. Make mistakes and learn from them. Have fun, be responsible and enjoy the ride.
How to Calculate Spread Odds?
Spread odds are calculated in the same way that other sports bets odds are. In sports like baseball and basketball, spread odds are usually between +100 and -120, which is between $1 and $0.83 per dollar wagered. In baseball and hockey, sports where one-run/goal games are more likely to happen, a -1.5 spread bet might come with odds between -125 and +200, depending on how lopsided the game looks on paper, which is between $0.80 and $2 profit per dollar wagered.
Why Are Spreads a Good Bet?
Because if you think a team will win, but don’t want to win only $0.50 on the $1, betting on it to cover 4.5 or five points is a good way to win more money. There are hundreds of classic games that were decided between 3-7 points, and if you were a spread bettor in those games you’d win as well.
Can Spreads Be a Bad Bet?
Like every type of bet, gambling spreads carries inherent risk. Because coaches play to win, and not cover the spread, there are times where a team will be celebrating a victory, and you might be lamenting a lost bet.
Plus, hoping for a team to cover a double-digit point spread can be an angst-inducing proposition since teams are prone to off nights. Plus, when teams go up by a certain number of points, they tend to take their foot off the proverbial gas, allowing the opponent to get back into the game.
What Sports Are Available for Spreads?
Team sports, although sports like tennis can also feature spreads. A marquee tennis match might feature a -1.5 set spread. Playoff series might also feature -1.5 or -2.5 game spreads.
Otherwise, all games in team sports feature spreads for just about every game.
Is There Bet Insurance on Spreads?
There can be. For instance, if you bet a spread in Betway’s initial risk-free bet and it doesn’t hit, you will get your initial stake back. Otherwise, there is usually not bet insurance on spread wagers on Betway.