Point Spread

The point spread is a handicap the bookmaker applies to a contest so that both sides attract roughly equal betting interest. The favourite is assigned a negative figure, such as -7.5, meaning they must win by more than 7.5 points for a wager on them to succeed. The underdog is given the matching positive figure, +7.5, and covers if they lose by 7 or fewer points, or win the game outright. This is the dominant market in American football and basketball, where margins are large enough for a spread to be meaningful. Suppose a team is favoured at -7.5 and wins 27-21, a six-point margin. Backers of the favourite lose the spread bet despite their team winning the game, because the margin fell short of 7.5. Backers of the +7.5 underdog win, even though their team lost on the scoreboard. This separation of the game result from the betting result is the essence of betting against the spread, and a team that loses can still 'Cover'. The price on each side is typically -110 in American odds, equivalent to 1.91 decimal, so the sportsbook earns from the margin between the two prices rather than from the spread itself. Half-point spreads such as -7.5 also eliminate the Push, guaranteeing a decisive result; whole-number spreads like -7 can land exactly and refund stakes. A common mistake is ignoring key numbers. In American football many games are decided by 3 or 7 points, so the difference between -3 and -3.5 has a far larger effect on your chances than the half point suggests. Sharp bettors weigh these key margins carefully, and some buy points to move across them, accepting worse odds for a better probability of covering.