Point Spread Betting Explained

If you want to learn how to bet the spread, you’re at the right place. This BetZillion guide will tell you everything you need to know and a few strategy tips and tricks to help you win.

What Is a Point Spread Bet?

Also known as an equalizer at some online bookmakers, a spread bet levels the playing field in a game. As you surely already know, all sports teams are not created equal. For example, when the Lakers play the Orlando Magic, they are a heavy favorite.

A match-winner bet doesn’t make much sense on the Lakers since the odds are low. By handicapping the teams in this example with a point spread, bookies can give bettors much better odds.

The better team must win by the point spread the bookie offers. The underdog can afford to lose as long as the spread is covered. Bettors can win a great point spread payout, so it’s a win-win situation for everyone involved.

How Do I Make a Spread Bet?

There’s nothing special about placing a spread bet. The bookmaker set the sports and games with spreads; all you have to do is make your selections based on your analytics. Here’s a step-by-step guide to placing spread bets:

1. Create an account or log in to your preferred sportsbook.
2. After ensuring your account has a positive balance, find your favourite sport.
3. Examine the spread betting options and determine which team you want to wager on.
4. Decide on your bet amount.
5. Proceed to place your spread bet.

How to Read a Point Spread

To read a point spread, you first need to know how American odds work. For those unaware, the – sign indicates the favorite, while the + is for the underdog. That’s all you need to know before you bet the point spread since it relies on American odds.

Reading point spread odds is not hard when you know how American odds to read. Using the example above, the Lakers will be favorites against the Magic with a point spread of +15 at -100. The Lakers need to win by over 15 points to cover the spread.

The Magic’s spread of +5 means they need to win or even lose by up to 5 points for your bet to win. Their odds will surely be in the +200 (or higher) range, allowing bettors to capitalize on an eventual shocking Lakers loss and win big money in return.

While it all looks confusing, the point spread betting system is very simple once you learn it. If you’re new to it, online betting websites might have a guide on how to place your first point spread bet. It’s easier than you think, and you’ll love that you can win your slip even if a team loses. That’s the beauty of points spreads and handicaps.

Point Spread Odds

The odds for point spreads are usually represented in American format. We already said that moneyline odds are expressed with a minus sign for favorites and a plus for the underdogs. As soon as you learn to read these, you’ll know how to read point spreads and bet on them.

While confusing, the American odds are simple to understand. The minus sign (for example, -300) shows how much cash you need to spend (in this case, $300) to win a profit of $100 for a total payout of $400.

On that, underdog odds of +300 show you how much profit you can expect on a $100 bet. In this case, you’ll win $300 for a total payout of $400.

That’s the simplest example of the American odds format, which is most commonly used on point spreads.

What Does PK or Pick’Em Mean in the Point Spread?

When you learn how to bet point spread, you need to know a few terms that will make things easier. One of the first terms you’ll come across is Pick’em, or PK. The Pick describes teams with a 0 point spread in which no team is favored.

It is essentially a moneyline bet, with your wager determined by the winner.

Point Spread in the NBA

Commonly known as the spared at NBA sportsbooks, the point spread is one of the biggest markets in NBA basketball. The positive value, for example, +10, shows the lead given to the underdog before the match begins. In this case, the favored team must win by at least 10 points to cover the spread.

The other point spread betting example is the exact opposite – -10. In this game, the underdog should win the game for your bet to win or lose by no more than 10 points.

Point Spread in the NFL

NFL spread is most likely the top way to bet on American football. If you’re new to NFL betting, it may be a bit complex, but it’s pretty simple once you get the hang of it.

The numbers and odds represent the same thing as in the NBA spreads, except this time, the numbers are usually smaller since its goals count, not points.

Point Spread in the NHL

In many ways, point spreads in the NHL are no different than NFL spreads. This market still uses American odds, so you should have no trouble betting on your favorite teams or opponents’ spreads.

What Is a Puck Line or Run Line? How to Bet Against the Point Spread?

Don’t be confused if you come across a puck line or run line in point spread betting. It’s what point betting is called in the NHL and MLB. Puck Lines are point spread in ice hockey, while run lines are spread in baseball.

Both cases will indicate the spreads by positive and negative points. We already mentioned how those could be read, so you shouldn’t have much trouble betting on the puck line or run line.

How Is a Point Spread Determined?

Everyone knows that odds are determined by the number of bets and a few other factors. With the point spread, it’s different. To learn how to bet point spread, you must know how the spreads are determined.

With the spread, online sports betting sites are trying to even the balance. That’s not possible at all times. In the real world, sports action is never balanced.

To determine ideal points spreads, bookies look at a range of factors, including:

• The power rankings for both teams
• The location of the match
• Public perception of the strength of both teams
• Injuries, weather, and other factors that impact the game

The last step is to adjust the points spread depending on the early action before the match. If accurate, punters will spend a lot of money on it. If not, there will be less action, and the bookie will adjust the spreads.

How are Point Spreads Calculated & Made?

Bookmakers rely on several factors when calculating point spreads. But these factors lead to different outcomes based on the bookie’s analysis. Hence, the point difference spread odds. But let’s look at the steps taken to calculate and make point spreads.

First, 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 gradually tweak their ratings as the season progresses or the team plays more games.

So, when it comes to a scheduled game, the sportsbook will factor in home-field advantage, player injuries, team scores, weather, rest, and team power rankings to determine the point spread odds before the match. That gives players the green light to wager on the initial point spread. If there’s a lot of betting action against the initial spreads, the bookie is not likely to adjust them. But if the action is less, the bookie will adjust them to land on the most accurate number possible.

Notably, not all bookmakers calculate their odds. Instead, they copy the movement of top books on the market.

Example of Point Spread Betting

We’ll show you a few examples below to learn what a point spread is.

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.

The Best Point Spread Bookmakers

Now that you know how spreads work, it’s time to find a reputable spread-betting sportsbook. There are dozens of bookies to select from, but our experts have worked on your behalf. We’ve thoroughly assessed every bookmaker that allows point spread betting, and here are our top picks:

Bovada

As our top pick for spreads betting, Bovada offers point spread odds for most of its 30+ sports. But the main reason why this bookmaker landed on our list is because it provides alternate spreads betting options. For example, if you want to wager on spreads in basketball, the bookie will provide another ten alternate spread run lines.

BetOnline

Another top option for spread betting is BetOnline. Not only does it offer a wide range of spread betting markets, but it also guarantees fast and secure payouts, especially for those using Bitcoin.

MyBookie

If you enjoy parlay betting just as much as spreads betting, you’ll love MyBookie. Here, you can easily use your spreads to place a parlay bet. What’s more? The oddsmaker provides several valuable tips to make the process more worthwhile. Its platform is also easy to use and features a live betting arena for point spread betting.

Intertops

We loved Intertops Sportsbook because it offered quality spread betting odds for its NFL games. The selection of NFL games was massive, and it was pretty easy to place spread bets here. The in-play wagering arena was also top-tier.

XBet

Looking for generous odds boosts for your spread bets? The XBet is an ideal fit. Whether you want to wager pre-game or in-game, the bookie provides regular odds and bonuses to sweeten the deal further. And that’s not all. The sportsbook also allows punters to bet on quarter or half of the game spreads. For instance, in an NFL game between the Seattle Seahawks and the Green Bay Packers, you can wager that the Packers will win the first half of the match by -2.5.

Main Features of a Point Spread Betting

As you may already know, point spread betting revolves around three main things, which we’ll refer to as its main features. They include:

• Spread: This refers to the difference in points between the winning and losing team at the end of the game. Bookmakers determine the spread in advance, and it’s up to the player to decide which participating team will win or lose by the set points. To place spread bets, you must know how to read point spreads.
• Underdog: That’s the team that’s likely to lose in a specific match. It’s usually the less popular team in a game and has a plus (+) sign before its point spread odds.
• Favourite: A favourite team is one that the bookie predicts to win a particular match. Such a prediction is usually based on factors like the team’s popularity among bettors, power rankings, home-field advantage, and injuries.

What Does Covering the Spread Mean?

Covering the spread means the team successfully beat the set spreads from the bookie. That could be by winning by the set spread or staying within that limit. For instance, if the bookie’s fixed spread is +7, if Team A wins against Team B with 7 points, then Team A has covered the spread. Likewise, if Team B loses by 7 points, the spread is still covered.

Why Does a Point Spread Change?

There are many reasons why a bookmaker may change a point spread. They range from injuries to the team lineup on game day to betting volume to ‘sharp’ money. Sharp or ‘respected’ money is bet amounts from well-known bettors. Bookmakers usually respect wagers from such bettors. It’s vital to note that the bookmaker reserves the right to change point spread odds. As a result, it’s best to keep an eye on line movement to ensure your bets are always up to date.

Can I Use a Point Spread Bet in a Parlay?

Generally, a parlay or accumulator bet combines different types of bets. These can include point spreads, moneyline bets, and totals. And given the massive potential payout of point spreads, combining multiple spread bets in a parlay bet only boosts your payout potential. But don’t overlook the power of analyzing your selections to increase your winning odds. Remember, all your legs in a parlay bet must be correct to win.

Point Spreads and Live Bets

Did you know that you can also place live spread bets? Well, it’s true. Most major sports events and leagues, like NFL, NBA, MLB, and Premier League, allow live point spread betting. And just like other live bet markets, the odds of point spreads change often to reflect the game’s current action. But it’s your job to find the best time to place your wager for the best possible value despite the fast action. We recommend BetOnline for the best live spreads across its 30+ sports.

Why Was My Point Spread Bet Cancelled?

Usually, when a point spread bet is canceled, likely, that particular game did not occur. Or, instead, it did not complete the expected time of action. But once a bookmaker cancels a point spread, they’ll refund the bet amount to the player’s account, allowing you to place another bet of choice.

What Do ‘Long’ and ‘Short’ Mean in Spread Betting?

Long refers to buying, while short refers to selling spreads. You’ll often find two boxes with numbers against them in a sportsbook, implying that they are your long and short (buying and selling) boxes. Typically, the long box has a lower value, while the short one has a higher number. The difference between these two values is the bid/ask spread or bid/offer spread. For you to win, the price has to adjust significantly towards your preferred choice, be it long or short. So, if you are on the short side, the price must move closer to the value on your side.

What Is Leverage in Spread Betting?

Leverage means you have to make a smaller deposit to create a position compared to one without leverage and wanting more exposure. However, remember that leverage doesn’t directly impact your losses or profits since the overall result depends on the value of the entire trade.

What Is the Margin in Spread Betting?

There are two margins in point spread betting. The one we’ve discussed above is the deposit margin and maintenance margin. Deposit margin refers to the amount you put down to create a position. Alternatively, the maintenance margin is the additional deposits you’ll have to make if your position starts making losses not covered by the original deposit amount.

Spreads vs Moneyline

Besides spreads, moneyline bets are another popular bet type among punters worldwide. But what is the difference between the two betting markets? Well, the answer lies in where the action is. When it comes to spread betting, everything is focused on the margin created by the bookmaker to balance the playing field. That means the favourite team has to win by the points given by the bookie, while the underdog can lose or win by those same points. On the other hand, moneyline bets are those that predict the winner of the match. The points scored don’t matter here. The table below has more differences between spreads and moneyline:

Point Spread Betting Pros & Cons