Point Spread, in plain words
A point spread is a handicap. The book subtracts points from the favorite's final score, or adds them to the underdog's, so that each side is close to an even bet. Both sides then usually carry a price near -110.
If a team is -6.5, it has to win by 7 or more for the bet to win. The other side, +6.5, wins if that team loses by 6 or fewer, or wins outright. A whole-number spread can land exactly, which is a push and returns your stake. A half point, the hook, rules the push out.
Spreads move. A line that opens at -6.5 can close at -7 or -6, and the number you got matters more than the team you picked, because some margins happen far more often than others. In the NFL the final margin is 3 or 7 far more often than any other number, so crossing one of those costs real money.
The idea, drawn
Worked example · illustration
The favorite at -6.5, final score 27 to 20
- Spread
- Favorite -6.5
- Final margin
- 7
- Favorite -6.5
- Wins
- Underdog +6.5
- Loses
- Take 6.5 points from the favorite's 27: 27 - 6.5 = 20.5.
- 20.5 is more than the underdog's 20, so the favorite covers.
- At -7 the same game lands exactly on the number, a push, and both sides get their stakes back.
Half a point decided this bet. That is why the number you take matters as much as the side.