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spread betting

a form of gambling in which stakes are placed not on the results of contests but on the number of points scored, etc. Winnings and losses are calculated according to the accuracy or inaccuracy of the prediction
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Contemporary definitions for spread betting

a type of gambling upon the index (spread) of the outcome of an event, the amount won or lost calculated in proportion to how right or wrong the bettor is's 21st Century Lexicon
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