Sports Betting
Point spread
A point spread is a number set by a bookmaker to give the underdog a virtual head start, so bettors wager on whether the favourite will win by more than that number or the underdog will lose by less.
- Also called
- Spread, line, betting line; wagering against the spread (ATS) refers to point-spread betting.23
- Common sports
- Most used in American football and basketball, but applies to any two-sided contest.45
- Example (NBA)
- Philadelphia -6½; a standard spread wager costs $11 to win $10 (return $21).5
- Example (football)
- Home team to win by at least 3.5 points.6
Key points
- The favourite is given negative points and the underdog positive points; a bet on the favourite wins only if the margin exceeds the spread.23
- A bet on the underdog wins if it loses by fewer points than the spread or wins outright.46
- If the final margin lands exactly on the spread, bets are typically refunded (a push).6
Point spread example
In an NBA game, the line is Philadelphia -6½. A bettor risks $11 to win $10. If Philadelphia wins by 7 or more, the spread bet wins; if they win by 6 or fewer, or lose, the bet loses. A win returns $21 ($11 stake + $10 profit).5
Common questions
What is point spread in sports betting?
What is super bowl point spread?
The Super Bowl point spread is the handicap set for the championship game. It works the same as any football spread: bettors pick the favourite to cover or the underdog to stay within the number.
What is the point spread on tonight's football game?
The point spread on tonight's game is the current handicap number set by bookmakers. It changes as bets come in, so check a sportsbook for the latest line.
Where this term is used
Related terms
Sources
- Spread betting en.wikipedia.org Provides the core definition of point spread as a handicap.
- Sports betting en.wikipedia.org Supports the alternative names and how the spread works.
- Inefficient pricing from holdover bias in NFL point spread markets tandfonline.com Supports the alternative names and the handicap mechanism.
- [PDF] Converting College Football Point Spread Differentials to Probability arxiv.org Supports the sports where point spreads are common and the win condition for underdog.
- Volume 4, Issue 2 users.nber.org Provides the NBA example with -6½ and the $11 to win $10 pricing.
- How Do Markets Function? An Empirical Analysis of ... nber.org Provides the football example of 3.5 points and the push rule.
Sources are drawn from regulators, universities and published research, and each one is labelled with what it actually is — a preprint is not called a paper. Bookmaker and affiliate pages are never cited here, because a page that sells betting is not a neutral authority on it.