What is A Point Spread Bet?

If you’re anything like me, watching your favourite teams play is exciting enough, but have you ever considered upping the ante by placing a bet on the game?

Now, I’m not talking about a friendly wager with your buddies over a cold one (though that can be fun too), I’m talking about point spread betting, a type of betting that can add some serious excitement to any game.

But exactly what is a point spread and what does a point spread mean, you ask? Well, buckle up and let’s dive in! 

Have you ever watched a game and thought, “wow, this team is way better than the other team, this game is going to be a complete blowout?” Well, that’s where point spread betting comes in. It’s essentially a way for the oddsmakers to level the playing field by giving one team a handicap in the form of points.

Here’s how it works: let’s say the New York Giants are playing the Dallas Cowboys and the point spread is set at -3 for the Cowboys. This means that if you place a bet on the Cowboys, they must win the game by more than three points for you to win your bet. On the other hand, if you bet on the Giants, they can either win the game or lose by less than three points for you to win your bet.

But what about ties, you ask? Great question! With a point spread bet, ties are known as “pushes” and your bet is returned to you without any winnings or losses.

Now, you might be wondering why the point spread is set at -3 for the Cowboys in the previous example. Well, that’s because sportsbooks use odds and other factors to set a line that they think will attract equal betting on both sides. This ensures that the sportsbook makes money regardless of which side wins.

Here’s another example to help further illustrate how point spreads work. Let’s say the Boston Celtics are playing the Milwaukee Bucks and the point spread is set at +6.5 for the Celtics. This means that if you bet on the Celtics, they can either win the game outright or lose by less than 6.5 points for you to win your bet. Alternatively, if you bet on the Bucks, they must win by more than 6.5 points for you to win your bet.

Point Spread Bets Explained

Alright, so we’ve covered the basics of point spreads, and it’s clear that this is a fun and exciting way to bet on sports and one that adds an extra layer of strategy to your betting game. Now, it’s time to dive a little bit deeper into the ins and outs of point spread betting.

• What does “cover the spread” mean? - First up, let’s talk about what it means to “cover the spread”. When you place a point spread bet, you’re not just betting on which team will win the game, you’re also betting on whether that team will win by a certain margin of points. So, when a team “covers the spread”, it means that they’ve won the game by more points than the point spread that was set by the oddsmakers.
• What does “against the spread” (ATS) mean? - To make things a little more confusing, you might also encounter the term “ATS” in your sports betting travels, which stands for “against the spread”. Don’t get too worked up though because whenever you hear someone say, “I’m betting ATS”, they just mean they’re placing a point spread bet.
• Run lines vs. Puck lines - Point spreads aren’t just for popular sports like football and basketball either. In baseball and hockey, for example, you have run lines and puck lines, respectively, which work the same as point spreads, but the numbers are generally smaller since there are fewer points scored in these sports.
• What is the “hook”? - Now, one thing that confuses a lot of new bettors is the number next to the spread, which is considered the “hook” or half point. Basically, this is just added to the spread to prevent any ties or pushes from happening. For example, if the point spread for a game is -3, you might see a hook added to make it -3.5 or -2.5. This means that the team you’re betting on needs to win by at least four points or lose by no more than two points.
• What does “uncovering the spread” mean? - Simply put, this is when the team you bet on did not win by enough points to cover the spread, and so this is really just a fancy way of saying that you’ve lost your bet.
• What is “juice” or “vig”? - Next up, let’s talk about “juice” or “vig” in point spread betting. These are the terms used to describe the commission that sportsbooks charge on a point spread bet. Typically, the juice is 10% of the amount you’re betting, meaning that if you bet $100 on a game, you’re actually risking $110 ($100 for your bet and $10 for the juice).
• Why do point spreads change? - Well, the oddsmakers adjust the point spread based on a number of factors, such as injuries, weather conditions, and betting patterns. If a lot of money is coming in on one side of the bet, the sportsbook might adjust the point spread to encourage more betting on the other side and balance out their books.
• What is “line shopping”? - This brings us to the concept of line shopping. Being that sportsbooks compete with one another by offering alternative odds on select games, it’s always a good idea to shop around at different sites to find the best point spread for the game you want to wager on. Remember that even just a small difference in the spread can make a massive difference in your potential winnings.

What Makes it So Popular?

Point spread bets are popular among sports bettors for a number of reasons, but perhaps the biggest reason is that they offer a more balanced and interesting way to bet on games. Instead of just picking a team to win outright, point spread bets require you to analyze and critically think about the margin of victory. Here are some more reasons why point spread bets are so popular:

• Offer a better chance to win on the underdogs - Because the point spread evens out the playing field, it can give underdog teams a better chance to win or at the very least, cover the spread. This means that if you bet on the underdog and they lose by a small margin, you can still win your bet. It also means that point spread payouts when you’re betting on the underdog can be higher than betting on the favourite. 
• Make blowout games more interesting - If you’re watching a game where one team is heavily favoured to win, it can be pretty boring to just sit and watch them dominate from start to finish. But with a point spread bet, you can still have some excitement and interest in the game, even if the favourite team is winning by a lot. If you bet on the underdog to cover the spread, you can still feel invested in the game and hope for a comeback.
• Require more strategy and analysis - Point spread bets aren’t just about picking a winner, you also need to think about the margin of victory and analyze the strengths and weaknesses of each team. This means that point spread betting can be a more engaging and intellectually stimulating way to bet on sports.
• Offer more opportunities to find value - Point spreads are set by oddsmakers, who ultimately are just normal everyday people. As a result, sometimes they can make mistakes or set a line that’s too high or too low. This means that if you do your research and find a point spread that’s off, you can capitalize on that and potentially win big.

While point spread bets and moneyline bets are both types of sports betting that involve picking a winner, they differ in some key ways. Primarily in the fact that point spread bets are all about predicting the margin of victory, while moneyline bets are simply about picking a winner.

Point spread bets add an extra layer of complexity to sports betting because in addition to picking the winning team, you also need to predict how much they’ll win by. For instance, let’s say the New York Knicks are playing the Brooklyn Nets, and the point spread is set at +4 for the Nets. If you bet on the Nets to cover the spread, you’re essentially betting that they’ll either win the game outright or lose by less than four points. On the other hand, if you bet on the Knicks to cover the spread, you’re betting that they’ll win by more than four points.

Taking this into account, the biggest difference between point spread bets and moneyline bets is the amount of risk involved. With point spread bets, you need to have a better idea of how the game is going to go, as you need to try to predict a specific margin of victory, which can be quite difficult to do. With moneyline bets, however, you just need to pick the winning team, which means that how much they win by will have zero effect on your payout.

In some cases, you may want to use a combination of point spread bets and moneyline bets to maximize your chances of winning. For example, if you think a team is likely to win but by a small margin, you could bet on them to win the game outright with a moneyline bet, and also bet on them to cover the spread for a little extra cushion. This way, you’re hedging your bets and increasing your chances of success, while also potentially getting a higher payout.

When it comes to point spread betting, there are three possible outcomes: covering the spread, pushing the bet, and uncovering the spread. Let’s further analyze each one:

• Covering the spread - This is the most desirable outcome with a point spread bet, and indicates that the team you bet on has won the game by enough points to cover the spread. For example, if the point spread is set at +5 for the underdog and they win the game by six points, they have covered the spread, meaning that anyone who bet on them to cover would win their bet.
• Pushing the bet - This is the least exciting outcome in a point spread bet, but it happens more often than you might think. When a bet is pushed, it means that the final margin of victory is exactly the same as the point spread. For example, if the point spread is set at +3 for the underdog and they lose the game by exactly three points, the bet is pushed. In this case, nobody wins or loses their bet, and all of the money is refunded.
• Uncovering the spread - This is the worst possible outcome in point spread betting and means that the team you bet on has lost the game by more points than the spread. For example, if the point spread is set at -7 for the favourite and they only win the game by six points, they have uncovered the spread. This means that anyone who bet on them to cover the spread would lose their bet.

Keep in mind that hooks can be added to point spread bets as well, which is simply a half-point added to the point spread to avoid the possibility of a push. For example, if the point spread is set at +3.5, there can’t be a push since there are no half points in sports, thus ensuring that there will always be a winner and a loser with every bet. 

Making a spread bet is a simple process that involves just a few quick steps.

• Find a sportsbook - The first step is to find a reputable online betting site that offers competitive point spread odds. Let's take Bet99 for example.

• Select the game and team you want to bet on - Next, select the game you want to bet on and look for the point spread option for that game. Then, you’ll need to decide which team you want to bet on. If you think the favourite will win by more than the point spread, then you’ll want to bet on them. But if you think the underdog will keep the game close or even win outright, then you might want to bet on them instead.

• Enter the stake and submit your bet -  After you’ve chosen the team you want to bet on, it’s time to enter the wager amount and confirm your bet. The amount you bet will determine your potential payout if your bet is successful.

As previously noted, point spread odds can vary between different sportsbooks, so it’s a good idea to shop around and compare odds to find the best value for your bet.

Point spread betting can be a fun and thrilling way to wager on sports, but it’s important to approach it with a clear strategy and understanding of the fundamentals. Here are some tips and thoughts to keep in mind when making point spread bets:

• Shop around for the best odds - Just like with any type of betting, it’s important to shop around and find the best odds for your bet. Different sportsbooks will have different odds, and while they can be slight, it’s vital to take the time to compare to ensure that you’re getting the most value for your bets. Even just a few points can make a big difference in the outcome of your bet. 
• Do your research - Knowledge is power when it comes to point spread betting. Therefore, one of the best things you can do to set yourself up for success is to research the teams and players involved in the game, as well as any relevant statistics or trends that may influence your decision. This can help you make more informed and educated bets. 
• Beat the closing number - One of the best ways to beat the sportsbook is to beat the closing number. Point spread odds tend to see the most movement shortly after sportsbooks post them. So, by betting early, you can often find market inefficiencies and get a better price than if you want until just before the game commences.
• Consider the context - In addition to looking at the numbers, it’s essential to consider the context surrounding the game. Is a team dealing with major injuries or internal conflicts? How does the weather or venue affect gameplay? These and other factors can all impact the outcome of a game and should be taken into account when making any bet. 
• Manage your bankroll - As with any type of betting, it’s important to manage your bankroll wisely. Don’t bet more than you can afford to lose and consider implementing a tried-and-true betting strategy like the Kelly Criterion to determine how much to wager on any given bet. 

As for how point spreads are calculated and made, it’s typically done by oddsmakers who use a combination of statistical analysis and their own expertise to determine the point spread for a particular game. The goal is to create a balanced betting market where there is an equal amount of money being wagered on both sites of the point spread.

Point Spread Parlays and Single Betting

Not only can you add a point spread bet to a parlay, but this is in fact one of the most popular ways to bet on sports. Parlay betting allows you to combine multiple bets into one, which can increase your potential payout, and when making a parlay bet, you can include point spread bets as well as others like moneyline or totals (over/under) bets.

With that being said, it’s important to remember that all bets in a parlay must be correct for you to win the bet. So, while putting together a parlay with multiple point spread bets can be incredibly exciting and profitable, it also carries a much higher risk of losing since you would need all of the bets to be correct for you to cash in.

Point spread betting is a unique and exciting way to bet on sports, and some sports lend themselves particularly well to this type of wagering.

Wondering which sports we’re talking about? Check out our breakdown below of the most popular sports for point spread betting.

NFL - The NFL is one of the most popular sports leagues in the world and it’s no surprise that betting on the point spread is a favourite among fans due to the nature of the sport, in which many of the games end up being very close. For example, in a matchup between the Buffalo Bills and Miami Dolphins, the point spread might be Bills -6.5, meaning they need to win by at least seven points to cover the spread.

NHL - While NHL games can be a low-scoring affair, the point spread is still a popular bet because it can often even the playing field between teams, making for more exciting and competitive games. For example, in a game between the Toronto Maple Leafs and Montreal Canadiens, the point spread might be Canadiens +1.5, meaning they can lose by one goal and still cover the spread.

NBA - The NBA is another hugely popular sport for point spread betting, and for good reason. The fast-paced nature of the game means that even big leads can be quickly eroded, making the point spread an attractive bet. For example, in a game between the Denver Nuggets and the Oklahoma City Thunder, the point spread might be Nuggets -7.5, meaning they need to win by at least eight points to cover the spread.

MLB - Baseball may not seem like an obvious choice for betting on the point spread, but it’s actually quite popular. The reason for this is that games can be fairly high-scoring, at leeast in contrast to the NHL, for example, and the point spread adds an additional layer of excitement. An example would be if there was a game between the New York Yankees and San Diego Padres, and the point spread was Yankees -1.5. This indicates that they would need to win by at least two runs to cover the spread.

College Football - College football is hugely popular across north America and point spread bets are a major part of the sport. With so many games on the schedule each week, there are plenty of opportunities for fans to get in on the action. An example would be if the Alabama Crimson Tide and the Georgia Bulldogs were playing and the point spread was set at Georgia -3.5. This means that the Bulldogs would need to win by at least four points to cover the spread.

College Basketball - Lastly, we have college basketball, which is another extremely popular sport to wager on regarding the point spread. Much like college football, there are so many games happening each week and with the NCAA tournament being one of the biggest sporting events in the world, there’s no shortage of excitement year-round. An example of what you might see would be if the Duke Blue Devils and the North Carolina Tar Heels were battling it out and the point spread was set at Blue Devils -2.5. This shows that Duke would need to win by at least three points to cover the spread.

As you can see, wagering on the point spread is an excellent way to make sports betting more exciting and profitable. It’s essentially a game within a game that allows you to take a closer look at the action and bet on all of the nuances within the game.

Armed with knowledge about the basics, strategies, and tips, you can level up your game and bring home the bacon! And while the NFL, NHL, NBA, MLB, College Football and College Basketball reign supreme in point spread betting, don’t forget that there are many other sports to explore as well.

So, regardless of your level of expertise, spread betting is worth checking out and can be a valuable addition to your betting portfolio.