I`m new here and to sports spread betting . can someone explain to me how to calculate profit and loss in binary specials offred by Spreadex in football spread betting, here is an example : Espanyol Vs Levante , Spreadex quotes
Espanyol to win to nil 26.6 -33.4 , 26.6 is the sell price and 33.4 as buy price , if i understand it right it means betting on double chance , or betting on espanyol to win or to draw , this can be found when we click on Binary Specials at the bottom. Spreadex expalins that market settles at 100 points if the team wins to nil or 0 if not.
so please can someone here explain what is my profit/lose when i place buy bet at 33.4 for 1pound stake and my profit/loss when I place a sell bet at 26.6 for a same stake (1 pound )?
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If you bought Espanyol to win to Nil at 33.4 for a stake of say £1, you would win £66.60 (100.0 -33.4 = 66.6 x £1) if they did or lose £33.60 if Levante won, if it was a draw or if Espanyol won with Levante scoring e.g 2-1,3-2 etc. Similarly if you sold the bet against Espanyol winning 1-0, 2-0 etc for £1 you would win £26.60 or lose £73.40 if they didn't. In effect they are offering roughly 2-1 that Espanyol would win to Nil. I hope you sold the bet as the match finished 0-0 despite Espanyol having a perfectly good goal disallowed. I hope my bitterness manages to hide that I had a bet on the home side to win! Apologies if I have misunderstood your query or indeed if I have got it wrong. I,m sure someone will set me right if I have.
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