Point Spread

A point spread is a number 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 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 win outright — and still cover.

The whole point of the spread is to make both sides of a game a roughly even proposition. Without it, lopsided matchups would pull nearly all the action onto one side. By handicapping the favorite, books keep wagering balanced and manage their risk far better. Spread bets usually run near -110 a side, so you stake $110 to win $100 no matter 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 your bet still wins — a Broncos outright win covers too.

Stake $110 on the Chiefs at -110 odds and they win 31-20 (an 11-point margin), and you collect $100 in 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, taking the push off the table.
• 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: -110 a side is standard, but the price on a spread can slide to -105 or -115 as the book balances action without touching the spread number itself.
• Available across many sports: Spreads are biggest in football and basketball but also show up in baseball (the run line) and hockey (the puck line).