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), which means 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 the game outright – and still cover.

The whole point of the spread is to make both sides of a matchup roughly equal to bet. Without one, hugely lopsided games would pull almost all the action to a single side. By handicapping the favorite, sportsbooks nudge betting toward a balance and keep their risk in check. Spread bets usually come at odds around -110 on each side, so you wager $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. If you bet the Chiefs at -7.5, they need to win by 8 or more points for your wager to land. A Chiefs win by exactly 7 would mean the Broncos covered. If you bet the Broncos at +7.5, they can lose by up to 7 points and your bet still wins. A straight-up Broncos win would cover too.

If you put $110 on the Chiefs at -110 odds 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 eliminate ties: Spreads ending in .5 (like -3.5 or +6.5) guarantee a clear winner and loser on the bet, taking the push off the table.
• 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 these numbers carry extra weight.
• Odds adjust with the spread: While -110 on both sides is the norm, the odds tied to a spread can move to -105 or -115 as the book balances action without touching the spread number itself.
• Available across many sports: Point spreads are most popular in football and basketball, but you’ll also find them in baseball (as a run line) and hockey (as a puck line).