Point spread betting guide: What a point spread is and how to bet on it

We explore what point spread bets are, how they work and how bettors can approach them

There is no shortage of the types of wagers that are available at the best sports betting apps, with one of the most common ones being the point spread. The point spread is viewed as the great equalizer between teams, a way to even out a game between the favorite and the underdog. Below, we'll discuss what point spread betting is and provide examples of how to place your wagers.

What is a point spread bet?

A point spread is a number created by oddsmakers that is designed to even the playing field between two opponents in a particular game, allowing bettors to wager on the margin of victory. It is intended to give the underdog an advantage compared to betting straight up against the favorite, making the betting for both sides more balanced and attractive.

The favorite gives points and the underdog gets points. Bettors then decide which participant will cover that spread, meaning they think either the favorite will win by more than the set amount or the underdog will lose by less than that number or even pull off the outright upset.

This evens out the playing field in terms of betting, making the outcome of the game not just about who wins but by how much. Games that are considered lopsided because of the difference in the strength of the competitors become more interesting, as you don't need the underdog to win outright if you wager on it in order for your bet to win. Additionally, a bet on the favorite becomes more exciting to follow as covering the spread is a taller task than winning outright.

How do you read point spread odds?

The favorite will have a "-" next to the point spread, while the underdog will have a "+" next to the number. For example, if the favorite is -6, it has to win by seven or more points for the bet to hit. A +6 underdog must lose by no more than five points or win outright for the wager to cash. If the difference of the game is exactly six points, the bet is considered a "push," and the bettor's stake is returned.

In order to eliminate the possibility of a push, oddsmakers can add a half-point "hook" to a spread. This means if one side is a 3.5-point favorite, it must win by at least four points in order to cover the bet. If the margin of the favorite's victory is three points or fewer, wagers on the +3.5 underdog would hit.

The number next to the point spread, commonly known as the "juice" or "vig," is the price sportsbooks charge to make the bet. Point spreads basically level the playing field between unevenly matched opponents, so a standard point spread bet will be -110 for both sides.

This means bettors would need to wager $110 in order to win $100 if their bet hits. But if the odds are +110, a $100 wager would return $110 if the bet wins. Should the spread of a game be listed as "pick 'em" or "even," the odds are usually listed at -110 so that sportsbooks earn a 10% profit.

Point spread betting across the major sports

Point spread betting is wildly popular in the major sports, especially football and basketball. In addition to the final score, most sportsbooks will offer spreads for each quarter and half of football and basketball games, and a puck line is available for each period of a hockey game. Meanwhile, run-line bets for the first five innings are often available for baseball games.

Football

When it comes to betting the spread, football — both NFL and college football betting — is the most popular sport. Regardless of the matchup, an enormous amount of action on the point spread takes place every week during the season for NFL betting. 

Here's an example of a point spread bet for an NFL game: If the Kansas City Chiefs are 8.5-point favorites against the Las Vegas Raiders, they must win by at least nine points for a bet on them to hit. Should you place a wager on the Raiders as +8.5 underdogs, it would cash if they win outright or lose by eight points or fewer.

Basketball

Point spread bets for NBA betting and college basketball betting are similar to those for football. The favorite gives points and the underdog gets them.

If the Oklahoma City Thunder are -7.5 in a matchup against the Portland Trail Blazers, they have to win by eight or more points for a bet on them to hit. A wager on the Trail Blazers at +7.5 means a loss by seven points or fewer would make you a winner, as well as an outright Portland win.

Baseball

Because baseball games are much lower scoring compared to football and basketball, the spread (run line) is usually set at 1.5 runs. Therefore, the favorite has to win by two or more runs to cover in baseball betting, while the underdog must lose by only one run or win outright.

As it can be a taller task to bet the favorite because it's tougher in baseball to win by multiple runs, the payout is often higher. For example, if the New York Yankees were -1.5 favorites against the Boston Red Sox, the juice could be set at +155, meaning the payout would be $155 for a $100 wager on the Yankees should they cover. In the same game, the juice set for the Red Sox +1.5 could be -180, which means the bettor would have to put up $180 to win $100.

Hockey

The puck line in hockey betting is very similar to baseball's run line, in that it almost always is set at 1.5 goals, while the juice often offers a better payout for the favorite than the underdog. Puck-line betting offers odds that would result in a bigger profit by betting the favorite than money line betting does.

For example, if the Toronto Maple Leafs are -1.5 favorites at +160 in their game against the Columbus Blue Jackets, the bettor would win $160 for every $100 wagered should they cover. Conversely, for a bet on the Blue Jackets, if they were +1.5 underdogs at -210, the bettor would have to lay down $210 to receive $100 if they cover.

What are the best tips to consider when placing a point spread bet?

Several strategies can be used in point spread betting. As with any other wager, doing the proper research is first and foremost. Factors such as weather for outdoor games, injuries and recent performances should be investigated when considering which side to back.

Another good strategy is following the line movement. This can show you how the betting public is leaning and whether or not there is any value in the lines. The spread often changes, and there are numerous reasons for adjustments, such as an overwhelming amount of money being placed on a specific team or customers with a history of winning that are respected by oddsmakers wagering on one side. Taking all that into consideration, the timing of your bet is often important. 

It also would be prudent to keep an eye out for reverse line movement, which happens when the spread moves in the opposite direction of the more popularly bet side. This can be caused by a person or group that uses sports betting as a professional money-making endeavor rather than doing so for recreational purposes.

Shopping around is imperative, as different spreads can often be found. One sportsbook could list a team as a six-point favorite, while another may have that club favored by 6.5 points, which potentially can be the difference between winning and losing your spread bet. Identifying discrepancies in betting lines might increase your chances of finding value.

Focusing on key numbers is another good strategy to employ, especially when betting the point spread in the NFL. Key numbers are regarded as the most common margins of victory, and the most important ones in NFL spreads are 3, 7 and 10.

Sportsbooks prefer not to move off key numbers due to the possibility of a heavy loss. For example, if they moved the Cincinnati Bengals from -3 to -3.5 in a game against Pittsburgh and received a lot of action on the Steelers, a three-point victory by Cincinnati would result in a huge loss.

Teaser bets can be made in order to get a higher payout, but they also bring a higher risk. A teaser is a variation of a parlay bet that allows the bettor to move the point spread a designated amount of points in their favor. However, two -- and sometimes three -- or more bets are required for a teaser, and every bet must win for the teaser to pay out.

The most popular is a six-point teaser, which permits the bettor to add or subtract six points in either direction for each game included. Teaser payouts rise with every game added.

Here's an example of a two-team, six-point teaser: The bettor teases the Detroit Lions from 8.5- to 2.5-point favorites in their game and the Arizona Cardinals from 3.5- to 9.5-point underdogs. For the teaser to cash, Detroit needs to win by three or more points and Arizona must win outright or lose by nine points or fewer.

Is a point spread bet a valuable bet?

While money line betting means you are just picking the winner of a game, different variables are in play with point spread betting. If you're backing the favorite, you believe it will win by more than the spread number. But if you back the underdog, that team doesn't need to win the game, it only has to lose by fewer points than the spread number.

The keys to finding the best value between money line and point-spread odds are doing the proper research, analyzing the components most important to the outcome and considering both betting options before placing a wager. In addition, finding a spread with a hook can prove valuable if the additional juice is justified.

Can you parlay point-spread bets?

Multiple point spread bets can be combined to form a parlay. Of course, every leg included must win in order for the parlay to pay out. Once again, the more legs that are included will give the bettor a higher payout.

A point-spread bet can be included with money line or prop bets to create a parlay. It also is not exclusive to one sport. For instance, a bettor can combine an NFL point-spread bet and an NHL over/under bet to create a parlay.

However, parlaying the point spread and money line of the same game is not permitted. The general rule is that you cannot parlay bets that are connected. 

FAQ

How is a point spread determined?

Oddsmakers consider numerous factors when deciding on a point spread for a game, such as injuries, past performances, which team is playing at home, the difference in skill level between the teams and weather conditions (when applicable). Because the spreads aren't the same at every sportsbook, be sure to shop around before placing your wager.

How and when does the point spread move?

Again, there are a number of reasons oddsmakers can move a point spread. Some of the most common are the amount of money sportsbooks take in on one side of the spread as opposed to the other, what side professional bettors are backing and key injuries that occur between the time the line debuts and the game takes place.

For instance, if the Buffalo Bills are 9-point favorites against the New York Jets but Josh Allen suffers an injury during practice the day before the game and is ruled out, expect the line to significantly drop to a number such as -3.5. But if you bet on the Bills at -9, that wager does not get adjusted.

What happens when the game ends on the exact line of the point spread?

If the final score of a game exactly matches the point spread, it is considered a push. In this case, all bets are refunded. Obviously, a push cannot occur when a spread includes a half-point.

What is a backdoor cover?

A backdoor cover is the act of winning a bet with a late score that ultimately cashes the ticket. These can occur whether you wagered on the favorite or the underdog. For example, if you took the Chicago Bears as 8-point underdogs and they were losing by 14 late in the game, a touchdown and extra point by the Bears on the final play would give you a backdoor cover.

Scott Erskine

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