Spread betting on Tour de France

Recently, we wrote about how spread betting does not have to be confined to share indices and currency trading but can be used on many different markets, including the likes of the Wimbledon tennis tournament which we covered earlier.

If spread betting on Wimbledon wets your appetite for placing a position on other sporting events then you may be interested to note that the 96th Tour de France starts on the 4th July. It is also interesting to note that the odds are actually showing that Lance Armstrong is not the current favourite.

The good thing about spread betting is that it doesn’t actually matter whether Lance Armstrong wins or loses as it is possible to make good money on spread betting no matter where he places.

The reason why professional spread betters make such a lot of money is that they get to know their market and if cycling and the Tour de France is something you know a lot about then a spread bet in this market could be a good idea.

To spread bet on such an event, you need to look at what spread trading firms are offering in terms of the position a cyclist will finish. If you think a cyclist will do well, then you ‘buy’ them or ‘go long’ at £x per place and if you think otherwise then you sell them. Check with the spread betting firm for their current prices and be sure to use a stop loss to limit your losses.