The middle spot betting strategy involves placing two bets on the same event with different platforms, aiming to hit a 'middle spot' where both bets can win. For instance, in a basketball game, you might bet on over 90.5 points at one platform and under 95.5 points at another, both at the same odds. If the total points scored are within that range, both bets win, resulting in substantial profit. If not, you may face a minimal loss or break even, making it a low-risk strategy.