Financial spread bet or point spread bet is one in which you don’t predict exact scores. You are betting on the mood of the bet’s outcome and predict in which direction – upward or downward – the scores will move. It definitely sounds less risky but requires a good amount of research. Let’s understand how you can master the art of financial spread betting.
- Consider financial spread betting as a business
You can start financial spread betting and make money from it if you consider it just like a business. You keep aside a fixed amount of money which you circulate for the spread betting. It helps bring financial discipline in the process and you don’t overdo the spending. As a result, you are able to stay in the game for long and try your luck often.
How much money is required to make spread bet work for you? It is just like setting a personal goal and to arrange for resources to achieve that goal. The amount you choose works as the starting capital and then you have to work your way to make money from investing on spreads.
- Evaluate your financial status
Assess what you want to achieve from spread betting. It requires concrete thinking and planning. There can be two approaches. First, you look at the financial spread betting as a means of extra income. This may involve making some challenging decisions as regards to taking risks.
The other approach involves taking up financial spread betting as a solid source of income. When you want the approach to be sustainable, you take less risks, go slow and bet only in the markets you have researched thoroughly. Also, you require to understand what amount you are comfortable risking. It is because spread betting like any other form of betting does involve risk and this factor cannot be ignored.
- Choose the best spread betting company
The choice of the spread betting company makes or breaks the situation. It is the reputation of the spread betting company that plays an important role in deciding other parameters of the process. You must assess the reputation of the company on the following points:
- The financial markets and assets that company provides access to for a spread bet
- Deposit requirement or margin needs – what is the deposit amount demanded by the spread betting company
- Types of fees charged such as trading cost, holding cost and the kind of spread offered
- The quality of trading platform is also very important. It should be smooth and swift in making transaction possible. The cash is uploaded fast and the payouts are swift as well.
The company should be regulated and approved by the Financial Conduct Authority and should have proper license to run the business.
The spread betting company should also offer value-added services like betting market news, live coverage of tournaments, analysis of the matches and so on. All this information is essential for making correct decisions.
- Master the craft of spread betting
As a beginner, your job is to learn, learn and learn. With practice and learning, you get the right skills to make spread betting your pet peeve. Your learning should revolve around understanding the subject thoroughly. Also, you must understand how the leverage works for or against you. A lot of free education on the spread betting sites is available. You can take help of those study materials to hone your skill as a spread betting expert.
It is important to understand that spread betting differs from the fixed odds betting. In the latter, the amount you win or lose is almost fixed and so your decisions revolve around the conditions prevailing in the sports. In spread betting, the potential profit or loss is unlimited and you have to be doubly sure of the decision.
- Select the betting market
The point movement of different betting markets is governed by different factors which are unique to that market. Select the betting market which you are thorough with. If there is an option to club two to three markets to try spread betting, choose the ones you have dealt most with.
- Pick a betting strategy
Before starting to invest real money in spread betting, pick a strategy that defines your moves in the process. These strategies are developed from pattern identification, trend analysis and understanding of the following pointers:
- Decide the entry and exit point in the market conditions
- Select a method for knowing the ideal entry points, profit targets and stop-loss points
- Ideal for your risk appetite
Jumping upon any spread bet that looks attractive is the common mistake that the bettors make. They fail to analyze all the factors that surround the spread bet. So, in case of failure, the bettors place the blame on the betting strategy. But in reality, the fault lies in the way the strategy was implemented.
- Be completely familiar with the betting platform
To start the spread betting, you have to take real action at the betting platform of your choice. It means you need to be thorough with the working of the betting platform. A betting platform can be a web app or a mobile app. Or it can be a self-sufficient software program that you install on your device.
The best strategy is to get acquainted with all types of platforms. This knowledge helps in placing the spread bets fast. Also, the users have the choice of shifting to other option if any of the platforms fails to deliver the correct environment for painless placing of bets. For instance, if the software platform just freezes up when you are about to place an order, you can take help of mobile or web app to complete the order on time.
A complete research on various fronts is needed to assure that you know all the basics of the financial spread betting. You can take clue from the tips provided by the soccertipsters.net to pick the spread betting market. The tips give an idea of how the spreads will move and what the correct entry and exit points are that can yield you the best results.