The Scottish Football League Second Division was founded in 1893 and is the third highest overall league in Scottish football after the Scottish Premier League and First Division. Comprising 10 teams who play each other four times (twice both home and away) over the course of a season, the Scottish Football League Second Division features intense competition for success and survival. Indeed, the top placed team at the end of each season wins promotion to the Scottish Football League First Division, whilst the 2nd to 4th placed teams enter a play-off tournament at the end of the season to determine who else will be promoted.

Sports betting is made more interesting in respect to the Scottish Football League Second Division as, whilst the bottom placed team will be relegated to the Third Division automatically, the 9th placed team will enter a play-off tournament with the 2nd, 3rd and 4th placed teams from the Third Division. This exciting new element to the league was introduced in the 2005-06 season and gives the 9th placed team another chance for survival whilst increasing betting opportunities on the league in general.

The current champions of the Scottish Second Division are Raith Rover (2008-09), whilst 2009-10 challengers comprise Alloa Athletic, Arbroath, Brechin City, Clyde, Cowdenbeath, Dumbarton, East Fife, Peterhead, Stenhousemuir and Stirling Albion. The current bookmakers' favourites to win the league are Stirling Albion, with odds of 11/8, whilst Brechin comes a close second with 15/8. More hopeful gamblers will note that Cowdenbeath attracts odds of 12/1 and, as of October 2009, are just one point behind Brechin in the league. Other betting opportunities pertaining to the Scottish Second Division include who will score the most goals over the course of the season in addition to individual match betting.