A point spread is simply a bet on the margin of victory. It's the most popular bet type in basketball and football.
The perceived stronger team (the favorite) must win by a certain number of points/runs/goals to cash your bet. The worse team (the underdog) can lose by fewer than that same amount of points, or just win the game.
Let's use a 2023 NFL Week 1 game as an example.
The Steelers are a +3 underdog against the 49ers. That makes San Fran a 3-point favorite.
- 49ers win by 4+ points: 49ers bettors win
- 49ers win by 1-2 points: Steelers bettors win
- Steelers win the game: Steelers bettors win
- 49ers win by exactly 3: It's a push, and bets are refunded
There's also an associated cost with betting each spread, listed next to the margin of victory. So if you're betting the 49ers at -3 (-110), you must risk $1.1 for every $1 you want to win. We'll get into more detail below.
Sportsbooks apply the spread concept to way more than just the final score. Things like France -2.5 corner kicks vs. Germany, or Chiefs total touchdowns -1.5 vs. the Cowboys are also spreads.
Here's how point spreads work.
What is a Point Spread in Betting?
A point spread is a bet on the margin of victory in a game.
The stronger team or player will be favored by a certain number of points, depending on the perceived gap in ability between the two teams. The final margin of victory determines whether a team covers the spread, affecting betting outcomes and scenarios like pushes.
Plusses and Minuses
A minus sign (-) means that team is the favorite.
A plus sign (+) means that team is the underdog.
Here’s how DraftKings displays its point spreads for football, with the point spread boxed in red.
The .5 on each bet's point spread is referred to as "the hook", and it's there mostly to avoid the issue of tied bets. But also there are some strategies to betting the hook, which are referred to in the linked article explainer.
How Do Point Spreads Work?
It’s easiest to understand point spreads by seeing them. The final score of a game determines whether a team covers the spread, as it directly affects the outcome of a point spread bet.
NFL: Example 1
Let’s take the 2022 Super Bowl example:
- Rams -4.5 (must win by four or more points)
- Bengals +4.5 (can win or lose by 1-4 points)
Score: Let’s say the Rams win 27-24 – Bengals spread bettors would win their bets. If the Rams win 30-20, Rams spread bettors would cash.
NFL: Example 2
From Week 11 of the 2021 NFL season:
- Bills -13.5 (must win by 14+)
- Jets +13.5 (can lose by one or two points, 1-13, or win)
Score: BUF 45, NYJ 17 (Bills cover -13.5, because they won by 28)
NFL: Example 3
Let’s take another example Week 11:
- Rams -3.5 (need to win by 4 or more)
- 49ers +3.5 (need to lose by 3 or fewer, or win)
Score: SF 31, LAR 10 (49ers cover +3.5, because they won the game outright)
For instance, if the Kansas City Chiefs are -7 favorites, they need to win by more than 7 points to cover the spread.
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What Does -110 Mean Next to the Spread?
You can learn more about American odds, but the number next to the spread is the juice associated with that bet. Most spread bets will be -110, so the sportsbook takes a 10% cut.
That means for every $1 you want to win, you have to risk $1.10. So if you want to win $20 on a bet, you’ll have to risk $22. The potential 'bet wins' are calculated by considering the juice and the odds, which dictate the profit from a bet.
If you bet $22 on the Bills -13.5 and Buffalo wins by 14 points, you’ll win $20. If they only win by 10, you lose $22.
Point spreads have an even tax on both sides because we expect each team to cover the point spread about 50% of the time.
When betting moneylines – which requires you to pick the winner straight-up – you can get bigger payouts because the likelihood of the worse team winning the game outright is much lower than it just covering the spread.
How Do I Make a Spread Bet?
Sports bettors can navigate the process of placing a spread bet by following these steps. It’s easy to bet point spreads at one of our preferred books. Here’s how it works:
- Navigate to your desired sport.
- Click on the spread you want to bet in the game module (it will be lined up with the team you want to bet).
- Head to the bet slip on the right side of the page (on your phone, it will pop up automatically).
- Click “Login to Place Bet” and login, then submit your bet.
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How Are Point Spreads Calculated & Made?
We could write another 5,000 words about how point spreads are truly made, but in the simplest terms, it’s a 3-step process.
- Oddsmakers build mathematically-driven ratings for each team before the season and continue to tweak them as games are played.
- They use those ratings, plus factors like home-field advantage, rest, and injuries, to create a point spread in advance of a scheduled game. These factors also influence the spread odds, determining the margin of victory needed for a successful bet.
- Bettors then begin wagering on that initial point spread, which will influence the spread and move it to the most accurate possible number.
- Most sportsbooks do not create their own lines, and simply copy the movement they see at market-making books.
What Does Covering the Spread Mean?
"Covering the spread” is another way to say that a team won a point spread bet. Point spread bets can end in a push if the spread is a whole number. In the above example, the Bills or more as a -13.5 favorite means they covered the spread.
If the Jets (+13.5) lost by 13 points or fewer, or won the game, they covered the spread.
Buying points is another way to help cover the spread. When you buy points, you either pay a more expensive price or get a reduced payout on your bet.
What is ATS ("against the spread")?
What does it mean when a team is 9-2 ATS this season? ATS stands for "against the spread." So an ATS record is simply wins and losses against the spread.
What are Run Lines & Puck Lines?
Low-scoring sports like hockey and baseball do have point spreads, but they're almost always -1.5 and +1.5.
In hockey, a spread is referred to as the "puck line." In baseball, it's the "run line."
The odds are just changed depending on the ability of the team — you won't get -110 on both sides.
So you'll get paid less for betting the Yankees -1.5 against the lowly Orioles than you would for betting the Yankees -1.5 against the Astros, when the two teams are more evenly matched.
Stay up to date and keep track of all of the states with legal sports betting to see what the status of legal mobile sports betting is in your location.
