Point Spread

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

The whole point of the spread is to make both sides of a game roughly even to bet on. Without one, lopsided matchups would pull nearly all the action to one team. By handicapping the favorite, books encourage betting on both sides and keep their risk in check. Spread bets usually come at odds around -110 per side, meaning you risk $110 to win $100 whichever team you back.

Example

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

If you put $110 on the Chiefs at -110 and they won 31-20 (an 11-point margin), you’d collect $100 in profit plus your $110 stake back.

Key Points

• Half-point spreads kill ties: Spreads ending in .5 (like -3.5 or +6.5) guarantee a winner and a loser on the bet, so there’s no chance of a push.
• Key numbers matter in football: In the NFL, margins of 3 and 7 happen most often because they match a field goal and a touchdown. Spreads on or near those numbers carry extra weight.
• Odds shift with the spread: -110 on both sides is the norm, but the odds on a spread can move to -105 or -115 as the book balances action without touching the spread number.
• Found across many sports: Point spreads are biggest in football and basketball, but you’ll also see them in baseball (the run line) and hockey (the puck line).