Spread betting is one of the most popular betting markets in basketball, football, hockey, and baseball. It is popular in the USA and frequently seen in international sports tournaments, such as the NHL, NFL, and NBA.
A match-winner bet on the Orlando Magic doesn’t make much sense since the odds are low. So, odds are designed to level up the competition to an extent, so backing the underdogs still has a chance to win. With a point spread, bookies give much better odds.
The strong team must cover the point spread the sportsbook offers or win by a higher specified margin. The underdog can lose within the spread to still be a winning bet for you.
The bookmaker sets the point spreads, and you choose your bets depending on whether you believe a team will perform better or worse than the spread suggests. Here’s a step-by-step guide to placing spread bets:
To read a point spread, you must know that the – sign indicates the favorite team, while the + is for the underdog.
Using the example above, here is how the spread looks and the situations where you will win:
The Lakers, represented by -4.5, are the strong team, while the Orlando Magic is an underdog with the +4.5 spread.
If you’re new to it, online sports betting websites might have a guide on how to place your first point spread bet. Spread betting is exciting because you can win even if your team loses.
The odds for point spreads are usually represented in American odds format. The point spreads usually have -110 odds on each side.
For example, the odds of -110 show you will have to spend $110 to have a profit of $100 on your win. The $10 is the profit or the ‘juice’ to the bookmaker, also called the ‘Vig’ or ‘Vigorish.’
Pick’em, or PK, indicates that both teams are evenly matched in terms of skill and form. The point spread is 0, in which no team is favored. It is essentially a moneyline bet, and the winner directly determines the fate of your stake.
The point spread is one of the biggest markets in the NBA, the professional basketball league in North America. You can commonly find many NBA sportsbooks featuring point spread markets.
Continuing from our example above, let’s say the Lakers win 27-24 or a difference of 3, less than 4.5. The gamblers on the Orlando side will win. If the Lakers win 30-20, a difference of 10 or more than 4.5, those who are backing the Lakers’ win would win.
The top way to bet on American football is through the National Football League.
The numbers and odds are represented the same way as in the NBA point spread markets, except the spread figures are for the number of goals and not the points.
The point spreads in the NHL represent the goals like the NFL. It also uses American odds, but the payout values might differ, explained as follows:
For example, the point odds of two teams in the NHL look like this:
The Canadiens’ odds are -130, and the Rangers’ wins are fixed at a payout of +120. The Canadiens, being the favorites, are more likely to win, so you will have to spend $130 to win $100. If the Rangers win, which is unlikely, a $100 stake will return $120.
A Point Spread value is called a Puck Line in hockey leagues such as the NHL (National Hockey League) and a Run Line in baseball matches like the MLB (Major League Baseball).
Positive and negative values indicate the spreads, and everything else works in the same way.
Backing the favorite to win or a strong team is ‘betting with the spread,’ and you win as long as they win above the established point spread value.
Betting on the underdogs to win is ‘betting against the spread,’ and you win back your stake if they win or lose within the established points spread value.
Covering the spread means the team successfully beat the set spreads from the sportsbook. That could be winning by staying within the specified limit. For instance, if the bookie’s fixed spread is +7 for Team A, and Team A loses against Team B by less than 7 points, then Team A has covered the spread. Likewise, if Team B wins by 8 points, they have covered the spread.
The odds set by bookmakers are determined by staking volume and a few other factors. With the point spread market, the outcome also depends on the point spread values other than the set odds. You must know how the spreads are determined to have a good chance of winning point spread bets.
With the points spread, online sports betting sites even the balance, but there are several factors at play. To determine ideal point spreads, bookies look at a range of factors, including:
They also adjust the point spread depending on the betting stats before the match. If punters appear interested, they adhere to the same values. Conversely, if there is less action on the set point spreads, the bookie will adjust the values.
Bookmakers rely on several factors when calculating point spreads, but how are they calculated? Let’s look at the steps taken to calculate point spreads.
It begins with an in-depth analysis of the team participating in a match. Bookies develop mathematically driven statistics about a certain team and its players before the match/season begins. They tweak their values as the season progresses.
So, when it comes to a scheduled game, the sportsbook will factor in home-field advantage, player injuries, team scores, weather, players at rest, and team power rankings to determine the point spread odds before the match.
Notably, not all bookmakers calculate their odds. Instead, they copy the movement of top books on the market.
Let’s say that the Bucks, an NBA title contender, plays the Magic, which are an underdog. With Giannis Antetokounmpo in the team, the Bucks are the obvious favorite, probably with a moneyline of -800 or close. Those odds are not exactly perfect for bettors, so that the bookie might give them a -110 moneyline at -13.
Conversely, the Magic will be -110 with a moneyline of +13. If the Bucks win by 13 points, you win your bet. The Magic can afford to lose by up to 13 points in this case or win the match for your wager to win.
Sometimes, you’ll see spreads with .5. Let’s take a match between the Cowboys and the Giants, for example. The Dallas Cowboys may be a -3.5 favorite at -110, which means they need to win by 3 points or more for your bet to win.
The Giants are an underdog at the same odds with a spread of +3.5, so to cover the spread, they must not trail by over 2 points at the end.
Now that you know how spreads work, it’s time to find a reputable sportsbook providing point spread sports markets. We’ve thoroughly assessed every bookie that offers point spread betting, and here are our top picks:
As our top choice for spread betting, Bovada offers point spread odds for 30+ sports. For example, if you want to wager on spreads in basketball, the bookie will provide 10+ markets.
Another top option is BetOnline. It offers a wide range of spread betting markets, guarantees fast and secure payouts, and is quite convenient for Bitcoin users.
If you enjoy parlays just as much as spreads betting, you’ll love MyBookie. You can easily utilize point spread markets to make a parlay. The oddsmaker provides valuable tips to make your gamble worthwhile. The platform is also easy to use and features live markets for point spread betting.
We loved Intertops sportsbook because it offers competitive odds on NFL games. The game selection is massive, and the interface is easy to use.
Looking for generous odds boosts for your spread bets- XBet is an ideal fit. Whether you want to wager pre-game or in-game, the bookie provides good odds and bonuses for a better deal. The sportsbook also offers spread betting on quarter or half-game results. For instance, in an NFL game between the Seattle Seahawks and the Green Bay Packers, you can stake on the favorites – Packers – to win the first half of the match with a point spread of over -2.5, or more than 2 goals.
As you may already know, point spread betting revolves around three main things, which we’ll refer to as its main features. They include:
There are many reasons why a bookmaker may change a point spread. It could be injuries to the team lineup on game day, total stake volume, or ‘sharp’ money.
Sharp or ‘respected’ money is bets made by professional bettors. The sportsbook reserves the right to change point spread odds. As a result, it’s best to keep an eye on such spread movements to ensure you stay up to date.
Generally, a parlay or accumulator combines different types of bets, such as point spreads, money line, totals, and so on.
Given the massive potential payout of point spreads, combining multiple spread bets in a parlay bet boosts your payout potential. Don’t overlook analyzing each of your selections to increase your winning odds. Remember, all your events in a parlay bet must be correct to win.
You can also place live spread bets. Most major sports tournaments and leagues, like the NFL, NBA, MLB, and English Premier League, allow live point spread betting. Just like other live markets, the odds of point spreads change often to reflect the game’s current action.
Despite the fast action, you must find the best time to place your wager for the best possible result. We recommend BetOnline for the best live spread markets across its 30+ sports.
Usually, when a point spread bet is canceled, the particular game may have been canceled or not completed within the expected time. When a bookmaker cancels a point spread, they’ll refund the stake amount to the player’s account, allowing you to place another bet with that money.
Here is what the two terms mean:
Example: Being long on the Jets +10” means you’re betting they’ll outperform expectations (lose by fewer than 10 points or win).
Example: Being short on the Chiefs -10” may mean you’re betting they won’t cover the 10-point spread.
Leverage means you have to make a smaller deposit to take a position than the amount required to stake and get a wider exposure. Remember that leverage doesn’t directly impact your losses or profits since the overall result depends on the value of the entire trade.
There are two margins in point spread betting. The one we’ve discussed above is the deposit margin, and the other is the maintenance margin. Deposit margin refers to the amount you put down to create a position. The maintenance margin is the additional deposits you must make if your position starts making losses.
Besides spreads, moneyline markets are popular among sports bettors worldwide.
Moneyline outrightly predicts the winner of the match and does not leave any scope to win if one team is an underdog and is more likely to lose.
When it comes to spread betting, the focus is on the spread margin set by the bookmaker, and if the margin is low, you have the chance to win even when in favor of the underdog. Also, the predicted winner must outperform the underdog massively, more than the point spread value, to win your gamble.
The table below outlines these differences:
| Spreads | Moneyline |
|---|---|
| Harder to win because punters must speculate which team will cover the spread | Easier to pick since you outrightly choose the winner of the game |
| More generous payouts | Payouts are lower compared to those from spread betting |
| Odds are usually the standard -110 | Moneyline odds are generally more extreme, e.g., -1000 or +10000. These odds are often displayed as a win percentage. |
| PROS | CONS |
|---|---|
|
PROS
|
CONS
|
Point spread betting is an exciting way to stake on sports. However, you must understand how it works to make substantial profits. To get the most out of point spread bets, find a game with two teams with almost the same power ranking but one with a higher chance of winning based on match location, player form, injuries, etc. Ensure you’ve researched these aspects before placing your spread bet.
