Point Spread

A point spread is a number oddsmakers set to reflect the expected margin of victory between two teams. The favorite gets a negative spread (say, -6.5) and must win by more than that for a spread bet on them to cash. The underdog gets a positive spread (say, +6.5) and can lose by fewer points than that number, or win outright, and still cover.

The point of the spread is to make both sides of a game a roughly even bet. Without it, lopsided matchups would pull nearly all the action to one side. Handicapping the favorite balances the wagering and lets books manage risk. Spread bets usually price near -110 each side, so you stake $110 to win $100 whichever team you take.

Example

In an NFL game, the Kansas City Chiefs are favored at -7.5 against the Denver Broncos at +7.5. Back the Chiefs at -7.5 and they must win by 8 or more to cash. A 7-point Chiefs win means the Broncos covered. Back the Broncos at +7.5 and they can lose by up to 7 and your bet still wins. A straight Broncos win covers too.

Stake $110 on the Chiefs at -110 and they win 31-20 (an 11-point margin), you collect $100 profit plus your $110 stake back.

Key Points

• Half-point spreads eliminate ties: Spreads ending in .5 (like -3.5 or +6.5) guarantee a winner and a loser, with no chance of a push.
• Key numbers matter in football: In the NFL, margins of 3 and 7 hit most often because they match a field goal and a touchdown. Spreads on or near those numbers carry extra weight.
• Odds adjust with the spread: -110 each side is standard, but the odds on a spread can shift to -105 or -115 as the book balances action without moving the number itself.
• Available across many sports: Point spreads are biggest in football and basketball but also run in baseball (run line) and hockey (puck line).