Spread betting

A betting format where the punter buys or sells against a quoted spread on a numeric outcome (total goals, match minutes, runs, etc.) and wins or loses an amount proportional to how far the actual result deviates from the spread. Profit and loss are uncapped — a sell at "Total goals 2.7-2.9" on a 7-goal match loses 7 − 2.7 = 4.3 times the per-point stake. Regulated separately from fixed-odds betting in the UK (FCA, not just UKGC).