What Is Spread Betting? Point Spreads Explained

Let’s face it, watching a blowout in any sport is a lot less entertaining than watching an instant classic overtime thriller. When a point spread is added to the equation, however, suddenly you’re on the edge of your seat in the 4th quarter quarter despite the 24-point lead. That’s the beauty of point spread betting, which is sometimes referred to as betting the “side.”

Point spread betting is one of the most popular bet types especially for college football and basketball games which often feature a dominant team vs. a weaker opponent that’s very unlikely to cash a moneyline wager. Keep reading if you're new to sports betting or still wondering "what does spread mean?" or "What is the spread in betting?" or "What does +3 mean in betting?"

Spread Betting Explained

Simply put, a point spread bet is a wager on the margin of victory of a particular game. Oddsmakers determine an appropriate point spread based on how competitive the game is perceived to be. For example, when the Chiefs and Chargers play in Week 1 of the NFL season, it’s expected to be a close game between two potential playoff teams, so the point spread is Chiefs -2.5. On the other hand, the most lopsided game of Week 1 is expected to be: Denver Broncos -7 vs. Tennessee Titans.

Sportsbooks have installed the Broncos as 7-point favorites so bettors on Denver -7 are hoping the Bengals win by 8 points or more to "cover the spread." Meanwhile, bettors on Tennessee essentially get a 7-point buffer (+7 spread) because the Titans are the inferior team, so if Tennessee loses by less than 7 (or win the game), that bet cashes.

Spread betting meaning

In the example above, if the Broncos win by exactly 7 points, neither point spread bet wins or loses and it’s a “push,” meaning both sides get their original wager back. A point spread bet only pushes when a point spread is a whole number because when it’s not (3.5 for instance), it’s of course not possible for a margin of victory to be exactly 3.5 points.

Favorites (the perceived stronger team) are marked with a minus sign (-), while underdogs (the perceived weaker team) are noted with a plus sign (+) to designate how many extra points a sportsbooks is giving that team. Here's another way to think of this: At the start of the Broncos -7 vs. Titans +7 game when the score is 0-0 on your television, for the purposes of your bet, the score is Tennessee 7-0.

When two teams are evenly matched, instead of a spread + or - you might see the words “pick” or “pick ‘em” which means the point spread is essentially zero and the bet is simply who is going to win the game outright.

How to Read Spread Betting Odds

Next to the point spread is a number like -110 or -120. This number is the price the sportsbook is charging to make the bet, often called the “vigorish” or “juice.” Since point spreads bets essentially level the playing field between two unevenly matched teams, a standard point spread bet has -110 for both sides. The vigorish, like the point spread, will fluctuate before the game depending on public betting patterns and other factors.

With the standard -110 vigorish, a sportsbook is saying it’ll cost $110 to win $100 and a -120 price means it will take a $120 wager to win $100. With +105 juice, $100 will win $105 and $500 will win $525.  Even in a perfectly even matched situation with no point spread, like a coin flip or two theoretically identical teams, expect -110 vigorish because this is how sportsbooks earn profit.

There is generally a correlation between the moneyline and the point spread. For instance, in our Kansas City Chiefs -2.5 vs. LA Chargers +2.5 point spread example, the moneyline is Chiefs -144 and Chargers +122. Notice how the moneyline becomes more dramatic (Broncos -350 & Titans +280) in a game with with a higher point spread.

Keep in mind, while full game point spreads are more popular, bettors can also bet the spread for a portion of the game too such as the first half or the first quarter.

Click here for a more detailed explanation of how to read sports betting odds. 

Point Spread Lines by Sport

It's wise to consider "key numbers" when making point spread bets, especially with NFL wagers. Key numbers, as they pertain to spread betting, are the most common margins of victory. For instance, in the NFL, 3 is the most common margin of victory (about 15% of games) and thus the most important key number.

 

How are Point Spreads Made?

When deciding a point spread for a particular game, oddsmakers like Caesars Sportsbook or FanDuel consider a number of factors including teams’ strengths, past performance, rest advantages, home crowd influence, momentum, motivation, injuries, weather (for outdoor sports), and much more. Keep in mind these factors are unique to each team’s situation. For instance a starting QB injury might impact a team’s point spread less if it has a capable backup, and a bookmaker will assign more points to home field advantage for a team like the Seattle Seahawks who play in a loud stadium, compared to the Los Angeles Chargers who have a quieter home crowd.

It’s common for a point spread to change leading up to a game. For instance, in our Broncos -7 vs. Titans example, if Denver QB Bo Nix was injured in practice before kickoff, we’d expect that line to fall to perhaps Bronocs -5. If you bet on Broncos at -7 and the line adjusts to -5 right before kickoff, your bet is still for the -7 price (unlike horse racing).

Keep in mind that oddsmakers could accept wagers on Tennessee by respected customers with a history of winning and decide to drop the number from -7 to -6 thinking their original line was off. Or, a sportsbook will adjust the point spread because the public has bet so much on one team that it’s creating liability and they want to discourage more bets on that same side.

Sportsbooks often have different point spreads (and juice) for the same game which is why it’s helpful to utilize multiple sportsbooks and to shop around for the best deal. Click here for a breakdown of the top sportsbooks.

In the two tables below show odds for the same game at two different sportsbooks. A Chiefs’ bettor should bet the game at Sportsbook A where the line is Kansas City -2.5, but a Ravens backer gets a better deal at Sportsbook B because if Baltimore loses by the key number of 3, they'd push and get their original wager back.

 

What is Alternative Spread Betting?

Alternative spread wagers, sometimes called “alt spread” bets, work just like standard point spread betting, but with the opportunity to manipulate a point spread while the juice changes to reflect the newly created point spread.

For example, in Week 1 of the NFL season, you'll find: Chicago Bears -2 vs. Minnesota Vikings +2. Most sportsbooks will offer standard -110 juice on both sides, but if a bettor thinks the wrong team is favored and the Vikings can beat the Bears by more than four points, one sports betting strategy would be to create an alternative point spread of Vikings -4 which will pay a tempting +170 price. When manipulating the line in this manner so the underdog is laying points, as in this example, to compare the +170 price with the Vikings moneyline bet to see which offers better value.

Using our Bears - Vikings example, if a bettor thinks Minnesota will blowout Chicago, he/she could take an even more extreme alt spread like Vikings are -6.5 and that new line might pay around +200. The further a bettor deviates away from the original point spread set by the oddsmaker, the more extreme the odds will get. It’s also an option to bet alt over/unders AKA "totals" set by sportsbooks in a similar manner.

Is it better to bet favorites or Underdogs?

While there are various trends in different sports to suggest short-term success rates for underdogs or favorites, there is no blanket answer to this question. While favorites are more likely to win, they don't pay as handsomely as dogs. Beginner bettors have a tendency to pick favorites and shy away from underdogs and, in general, sharp bettors are comfortable betting underdogs in the right spots. placing a wager with a bonus bet, betting on underdogs is generally your best bet because of the + money odds. 

compare sports betting sites 

Our  FinCertified betting sites all take pride in offering fair spreads, as well as alternate lines to meet your betting needs. Compare the top sportsbooks below to see where you'll place your first bet against the spread!