Point Spread

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

The whole point of the spread is to make both sides of a contest a roughly even betting proposition. Without one, lopsided matchups would pull nearly all the money to a single side. By handicapping the favorite, books steer balanced action and keep their risk in check. Spread bets typically run near -110 on each side, so you stake $110 to win $100 regardless of which 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 your wager to land. A Chiefs win by exactly 7 means the Broncos covered. Bet the Broncos at +7.5 and they can drop the game by up to 7 and you still win. A straight-up Broncos win covers too.

If you staked $110 on the Chiefs at -110 and they won 31-20 (an 11-point margin), you’d 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 on the bet, wiping out any chance of a push.
• Key numbers matter in football: In the NFL, margins of 3 and 7 land most often because they map to a field goal and a touchdown. Spreads on or near those numbers carry extra weight.
• Odds adjust with the spread: While -110 both ways is standard, the price on a spread can shift to -105 or -115 as the book balances action without touching the spread number itself.
• Available across many sports: Point spreads are biggest in football and basketball but also run in baseball (as a run line) and hockey (as a puck line).