What is a Point Spread Bet?
Are you trying to place your first bet? That can be exciting if you understand what you are doing or frustrating when you don’t get the meaning of every possible bet in front of you. Don’t worry! All bettors have been there, so we are here to lend you a hand! We will explain to you what a point spread bet is. After reading this article, you will have the necessary knowledge to decide if this is the bet you really want to place.
Point Spread Bet Explained
A point spread bet is a very popular kind of sports bet. It levels the playing field (betting odds) between two teams, particularly when one is heavily favored to win. The point spread is a handicap given by oddsmakers, representing the margin by which the favored team is expected to win.
In point spread betting, the sportsbook assigns a margin of points, or “spread,” which the favored team must win by for a bet on them to pay out. It is meant to make both teams appealing for bets, even if one team is significantly stronger than the other.
The two teams in a matchup are given a spread, typically shown as “minus” (-) for the favored to win the game and “plus” (+) for the underdog.
Understanding Point Spread Betting Odds
How do you translate a point spread bet into real money? Know how to read the odds!
Point spread bets usually come with standard odds, typically set around -110. It means you’ll need to bet $110 to win $100. However, odds can vary slightly depending on the sportsbook and the specific game.
Let’s understand together how to read a point spread odds through an example. Let’s say you see the following spread for an NFL game:
The number out of the parentheses
Now, you know that the team marked with the minus sign “-” is the favored to win the matchup. In this example, The Cowboys are the favored. The minus combined with the seven “-7” indicates that for your bet on this team to win, they must beat the Giants by more than 7 points.
The Giants are the underdog, and you know it because it is indicated by the plus sign “+.” The “+7” means that if you bet on the Giants, you only win if they lose by fewer than 7 points or win the game.
The Numbers in Parentheses (odds or juice)
The (-110) next to each team is called the “juice” or “vigorish” (shortly, “vig.”) and it indicates how much you have to bet to win $100.
In this case, betting $110 would give you a $100 profit if your bet wins. If you win, you will get $210 ($110 wager + $100 profit).
Profit = (100/Odds)xBet Amount
Total Payout=Bet Amount + (100/Odds)xBet Amount
Point Spread Example. How to win?
How do you win a point spread betting? Let’s explain it following the same NFL game example:
It is the moment of truth. You read and understood the spread. So, it is time to choose. Are you going all into Cowboys or Giants? Consider that:
Betting on the Favored (Cowboys)
If you bet on the Cowboys (-7):
- They must win by more than 7 points for you to win the bet. Let’s say they beat the Giants 28-20. Your bet on the Cowboys would win since they won by 8 points (more than 7). In this case, if you bet $110, you would get $210 ($110+$100).
If they win by exactly 7 points, the bet results in a “push,” and you’ll get your money back, $110. Some say this is a spread tie, which is different from game tie (in this case game tie is 27-27.
Betting on the Underdog (Giants)
If you bet on the Giants (+7):
- They need to either win outright or lose by fewer than 7 points for you to win. Let’s imagine a final score: Cowboys 24, Giants 20. Your bet on the Giants wins because they lost by 4 points (fewer than 7). If you wagered $110, you would get $210 ($110+$100).
- If the score is Cowboys 24, Giants 27, your bet on the Giants wins, because they won.
- If they lose by exactly 7 points, this also results in a “push.” There is no win, but you get the money you bet back.
Example of a “Push”
When neither side “covered” the spread, the outcome is a push, and all bets on the point spread are refunded. When the score just matches the spread it is a push. Considering our example:
Imagine a final match score of 27-20, with the Cowboys as the winner. The Cowboys won by precisely 7 points, which matches the spread. If you bet on the Cowboys, they did not cover the spread (just matched it), so the outcome is a “push,” and you get your money back. If you would rather bet on the underdog, the Giants, they also didn’t cover the spread but only matched it. They needed to either win outright or lose by fewer than 7 points for you to win, so it is another push.
To avoid “pushes,” sportsbooks often use half-point spreads, like -6.5 or +7.5. It ensures there’s a winner and loser in every bet.
Example of a Tie Score
If the final score is 27-27, the Cowboys vs. Giants game ends in a tie, but in a point spread bet, you are only concerned with whether a team “covers” the spread — meaning they meet the expected point difference. In this example:
- The Cowboys (-7) needed to win by more than 7 points. Since they didn’t win, they did not cover the spread. It is a push of you bet on the Cowboys.
- The Giants (+7) had to win or lose by less than 7 points to cover the spread.
In this case your bet on the Giants will result in push. Most sportsbooks add .5 points to the point spread odds, just to evade this kind of situation. Check the sportsbook’s rules, before you choose a point spread bet.
Why Choose a Point Spread Bet?
Point spread betting is very popular across major sports (NFL, NBA, MLB, college basketball, college football) because it brings a unique balance and excitement to sports betting.
While moneyline bet focuses only on “who” wins, point spread betting adds more layers of excitement. It does it by making “how” a team wins or loses, just as important as “who” wins or loses. The point spread bet keeps bettors engaged in the game, even if the outcome may be decided early, as spread results often hinge on the final minutes of play. This suspense makes point spread betting particularly thrilling for sports betting fans.
Bettors also choose this type of wager because in games with a clear favorite, betting on the outright winner (moneyline) can feel predictable and offers a low payout. It works this way: on the moneyline, betting on a strong favorite might only return small winnings for a large bet, as odds reflect the favorite’s high chance of winning. With point spreads, the payout is often close to even, around -110 for either team. So, instead of placing a large bet for a small return (moneyline), you can bet with reasonable amounts and still have a solid payout if the favorite wins or the underdog loses by a few points and covers the spread.
Another reason bettors choose a point spread bet is that this type of bet can be combined with other bets (parlays and teasers). Teasers allow you to adjust the spread in your favor, adding a layer of control.
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Other Things to Remember
These are essential things to remember, especially if you are a beginner.
- There are more factors than just the oddsUnderstanding the mechanics of a point spread bet is crucial, but more is needed. You also must follow and study the teams’ performance. Be updated about each team’s offense, defense, injuries, home/away records (often, home teams perform better), stats, recent outcomes, and weather forecast, as these factors can affect their likelihood of covering the spread.
- Point spread changes with timeThese types of bets can change based on betting activity and news, so monitor for changes leading up to the game.
- Avoid big spreadsAs a beginner, avoid very big spreads because they can be challenging to predict. It’s often safer to start with games where the spread is smaller.
- Check game analysisSince point spread betting is so popular, a ton of information and analysis is available on spread trends and sports sites, making it easier for bettors to find insights. You can make informed decisions without advanced expertise in betting by checking different and reliable sources.
- Search for “key numbers”For example, in football, typical winning margins are 3, 7, and 10 points due to the scoring system. Understanding these key numbers can help you make smarter decisions when spreads are near these margins.
- Check the odds of different bookiesDifferent sportsbooks may offer slightly different spreads. Compare this to shop for the best line. It can give you a slight edge, especially on close spreads.
- A push is an outcomeWhen the final score margin exactly equals the point spread, both sides of the bet are considered a tie, and all bettors get their money back. No one wins or loses.
Quick Recap
- Point spread betting is popular across major sports (NFL, NBA, college football, college basketball). Once you clearly understand its mechanics, you can choose it to bet on different sports and seasons.
- Point spread betting offers a balanced, strategic way to bet on sports, increasing the chances of a meaningful return while keeping the games exciting. Even if one team is much better than the other, the point spread allows for betting interest on both sides, as bettors are now watching to see if the favorite covers or if the underdog stays within the margin.
- A spread will show you the two teams in a matchup. It will indicate the favorite team to win with a minus “-” and the underdog with a plus “+.”
- The number out of the parentheses (next to the minus and plus symbols: +7, -7 in our example) indicates the margin of points to win.
- The numbers in parentheses (like -110) show how much you have to bet to win $100.
- A “push” happens when the game’s outcome matches the spread. In our example, if the Cowboys win by exactly 7 points, or if the game is tie (27-27) neither side wins the bet, and your wager is refunded.
Point spread betting is another exciting way to engage with games, regardless of the initial skill difference between teams. It’s an excellent option for beginners in sports betting. Ensure you understand its mechanics and study teams’ performance to enhance your chances.