Check out the City Index home page... Tells you how the things work...
http://www.cityindex.co.uk/spreadbetting/a...ead_intro.cfm#1Personally, I believe if you want to make a speculative bet, then bet on the indices or individual stocks... but if you want to explore the arbitrage opportunities, there are so many with the sports spreads... like the football scores, number of yellow cards or red cards in a game, how many penalties etc... there are statistical correlations can be identified, as statisticians/actuaries setting the bets cannot cover all aspects of the games... for example, a number of penalties are closely correlated with the football scores of a match, by studying the odds, long one and short the other will give you risk less profit... but in order to make money from it, you need to have too relatively large books... you can＊t do it too obviously as well, say if you found a "cash cow" opportunity, do it too aggressively or too quickly can only eliminate the arbitrage opportunity in the future... unless, you have a couple millions... grab it and run.
A word of warning for those of whom knows a little about it＃ Spreads is an extreme type of investment, it＊s a high leverage game, returns are handsome, and risks are high＃make sure you can afford to loose＃