Point Spread

A point spread is a number set by oddsmakers that represents the expected margin of victory between two teams. The favorite is assigned a negative spread (for example, -6.5), meaning they must win by more than that number of points for a spread bet on them to pay out. The underdog receives a positive spread (for example, +6.5), meaning they can lose by fewer than that many points — or win outright — and still cover the spread.

The purpose of the point spread is to create a roughly equal betting proposition on both sides of a contest. Without a spread, heavily lopsided matchups would attract almost all of the action to one side. By handicapping the favorite, sportsbooks encourage balanced wagering and can manage their risk more effectively. Spread bets are typically offered at odds near -110 on each side, meaning you wager $110 to win $100 regardless of 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 on the Chiefs at -7.5, they must win by 8 or more points for your wager to succeed. A Chiefs victory of exactly 7 points would mean the Broncos covered the spread. If you bet on the Broncos at +7.5, they can lose by up to 7 points and your bet still wins. A Broncos outright victory would also cover.

If you wagered $110 on the Chiefs at -110 odds and they won 31-20 (an 11-point margin), you would collect $100 in profit plus your $110 stake returned.

Key Points

• Half-point spreads eliminate ties: Spreads ending in .5 (such as -3.5 or +6.5) ensure there is always a winner and a loser on the spread bet, removing the possibility of a push.
• Key numbers matter in football: In the NFL, margins of 3 and 7 occur most frequently because they correspond to a field goal and a touchdown. Spreads on or near these numbers carry additional significance.
• Odds adjust with the spread: While -110 on both sides is standard, the odds attached to a spread can shift to -105 or -115 as the book balances action without moving the spread number itself.
• Available across many sports: Point spreads are most popular in football and basketball but are also offered in baseball (as a run line) and hockey (as a puck line).