What is a point spread in betting?
A point spread is a handicap used mainly in American football and basketball, where the favourite must win by more than a set number of points for a bet on it to succeed.
When one team is much better, betting on who wins is dull. The spread fixes that by asking a different question: not who wins, but by how much.
- The favourite gets a minus number (−6.5). They must win by more than that.
- The underdog gets the matching plus number (+6.5). They can lose by less than that, or win outright.
Winning your bet is called covering the spread. Both sides are usually priced around −110, so you stake $110 to win $100. That extra $10 is the book’s juice.
“Spread” is American. In the UK and Europe the same idea is a handicap. Baseball calls its version the run line, hockey the puck line. Don’t confuse any of it with UK “spread betting”, a different and much riskier product where losses aren’t capped at your stake.
Example
The home team is −6.5 and the away team +6.5, both at −110. You put $110 on the home team.
| Final score (home–away) | Margin | Home −6.5 | Away +6.5 |
|---|---|---|---|
| 27–17 | Home by 10 | Wins | Loses |
| 24–20 | Home by 4 | Loses | Wins |
| 17–21 | Away by 4 | Loses | Wins |
At 27–17 you get $210 back, a $100 profit. At 24–20 your team won the game and you still lost the bet.
Watch out
- Whole numbers can tie. At −7, a seven-point win is a push and your stake comes back. The half point (the “hook”) exists to prevent that.
- Key numbers. NFL games often finish with margins of 3 or 7, so the difference between −2.5 and −3.5 is far bigger than it looks.
- Shop for the number. Half a point better at another book costs you nothing and wins bets over a season.