Point Spread Betting

One of the most popular ways to bet on sports in the United States is wagering on the point spread. Unlike moneyline betting which requires you to simply pick the winner of a sporting event, point spread betting focuses on the margin of victory to determine a winning side.

In this guide to point spread betting, we’ll walk you through how to read the lines and odds. We will also discuss strategies when betting on point spreads and mistakes to avoid when making your spread wagers.

What is a Point Spread Bet?

In simplest terms, a point spread bet is a wager on the point differential between two teams in a given sporting event. It acts as a way of handicapping the moneyline by requiring the betting favorite to both win outright and cover the spread by beating the underdog by at least the amount predicted by the sportsbooks.

This can also turn a wager on the underdog into a win even if the team lost outright, provided the underdog managed to keep the score close. The spread, in effect, spots the underdog a few hypothetical points to offset their perceived chances of losing.

Spread betting is often a way to get more betting value when a moneyline favorite requires heavy financial risk.

Example of Point Spread Bets

Using an example from the 2024 NFL season, the New York Jets were -390 on the moneyline against the Denver Broncos (+310) in Week 3. These odds mean you would need to wager $390 on the Jets to win $100.

However, with a point spread bet, sportsbooks set the line at Jets -8.5 with odds of -104. If your betting research led you to believe New York would win by at least nine points, you would only need to wager $104 to win $100.

This betting market also means Denver can “win” against the spread even if the Broncos lost outright. With the spread total at Denver +8.5, a spread bet on the Broncos would pay out if Denver either won outright or lost by fewer than nine points.

How to Read Point Spreads

As we discussed in our guide to moneyline betting, the moneyline favorite will be indicated by a “-” sign and the underdog by a “+” sign. However, with spread betting, you’ll often find these symbols appear more often and in different contexts.

Using the same example as before, you’ll notice the moneyline only has one set of numbers (in blue text) while the spread bet lines have two sets of numbers (one black and one blue). These colors will likely appear differently depending which sportsbook you’re using; these odds were pulled from FanDuel.

The black numbers in the example are used to indicate which team is the favorite and which is the underdog. Once again, the “-” symbol on the spread indicates the Jets are the favorite while the “+” sign shows the Broncos as underdogs, with the number after the plus/minus sign indicating the expected margin of victory (8.5 points).

However, you’ll notice that the odds for both teams (in blue text) carry the “-” symbol. This is common for spread betting, and in this particular case, it shows the Broncos are actually expected to cover the 8.5-point spread.

As a reminder, when both teams have a minus sign in front of their odds, the betting outcome with the higher number after the “-” is considered the likelier option.

Sportsbooks often adjust the odds based on the betting action, trying to get an even amount of betting action on either side of the line to ensure profitability. Line movement is most prevalent in NFL betting, where teams typically have a week between games (rather than daily or every other day like in MLB, NHL, and NBA betting).

The Role of Half-Points in Point Spreads

By now you may be asking yourself “Why do sportsbooks use a half-point in spread betting? Teams can’t score a half-point in the game…”

The main reason sportsbooks use half-points is to avoid a “push,” which is a scenario where the spread total exactly matches the projected total. When a push occurs, all stakes that match the spread are returned, which can be quite costly for the bookmakers.

However, by using the “half-point,” sportsbooks can ensure a clear win or loss at the end of the game. This half-point is sometimes called a “hook,” so don’t be thrown off if you see that term used instead.

Understanding the Vig (Juice)

The “vig” (short for “vigorish”) is the fee sportsbooks charge for taking a bet. Also known as the “juice,” the vig is designed to allow a bookmaker to make a profit regardless of the outcome of the wager.

For example, say you were making an even wager with a friend of yours on the spread of the Broncos-Jets game from before. If you each bet $100, the winner of the bet would collect both stakes (your $100 + your friend’s $100) so whoever wins receives a $100 profit; written in odds format, both sides of the bet would be listed at +100.

However, sportsbooks need to make money to function. Instead of making the “even wager” amount at +100, most bookmakers will list an even bet at -110 odds. If both sides use the same $100 stake as from the head-to-head wager, the profit is now only $90.91, meaning the sportsbook was able to collect $9.09 in “juice” for the winning wager.

Bookmakers will frequently adjust the lines and odds for spread bets to keep the vig close to the -110 mark (meaning there is an even amount of money wagered on each outcome). Betting action is the biggest driving factor for line and odds movement, though weather, injury reports, and performance trends can all be influencers too.

Furthermore, sportsbooks will also “squeeze the juice” on spread bets by setting their plus odds at a lower rate than their minus odds. This helps the bookies prevent major losses on an upset while also ensuring a reasonable profit if the favorite wins.

Understanding the vig is important because the vig amount will vary depending on which sportsbooks you’re using. While you’re certainly permitted to use only one sportsbook if that’s your preference, gambling with multiple bookies will allow you to find when the vig is more favorable for the bets you plan to make (this is called “odds shopping”).

Point Spread Strategies

Here are a few strategies to consider when making your point spread bets:

• Track spread and line movement: While this one can be a bit tricky to do reliably, a good strategy to use is to write down where the spread starts and how the odds shift leading up to the start of the game. Then, you can compare this information to public betting data to see if line movement closely matches the betting action. You can also use this to identify when reverse line movement occurs, indicating it might be better to fade the pick.
• Try to middle your bet: “Middling” is a betting strategy used for spread betting with the aim of placing two bets and having the final score land exactly in the middle so both bets win. In our Jets-Broncos example from above, let’s say you backed New York at -8.5. If the line then moved to Jets -9.5, placing a second bet on the Broncos +9.5 would guarantee a winning wager with both bets winning if New York won by exactly nine points. Just be sure to keep the vig in mind to make both wagers as profitable as possible.
• Timing is everything: As a general rule, you’re more likely to get spread betting value on favorites early and on underdogs late. This is because line movement follows the betting action, and if the line set by sportsbooks leads to many wagers being made on the favorite, the line and vig will move to a less-favorable position (and at the same time increase both for the underdog). Placing your bet at the right time will increase both your likelihood of winning and the profitability of your wagers.

Common Mistakes to Avoid While Point Spread Betting

When point spread betting, it’s important to avoid these common mistakes:

• Blindly betting the favorite: According to BetMGM, NFL spread betting favorites in the regular season had a record of 1206-1303-62. This means a bet on the favorite won 46.9% of the time while betting on the underdog won 50.7% of the time. While this doesn’t necessarily mean you’ll win 50.7% of your bets on the spread underdog, it shows why you shouldn’t automatically trust that a favorite will cover.
• Ignoring the vig: As mentioned above, the vig will be different depending on which sportsbooks you’re using and what the betting action has been at each of those operators. Failing to shop the odds and account for the vig leaves money on the table, so make sure the juice is as favorable to you as possible!
• Forgetting to account for home-field advantage: In general, playing at home typically factors 2.5 or 3.0 points in favor of the home team. According to TeamRankings.com, during the 2023-24 NFL season (including the playoffs), home teams were slightly more likely to beat the spread, finishing with a 134-133-12 record. This is generally the trend, though, in individual years, there may be greater variance in the records.

Conclusion

You’re now ready to start adding point spread bets to your betting slip. You’ve learned how to read the odds, what factors can impact line movement, why it’s important to consider the vig, and important pitfalls to avoid.

If you don’t feel comfortable betting on point spreads, that’s OK too. Check out our other sports betting guides to see if another type of gambling market may be a better fit for you.

FAQ

Can point spreads be used in parlay bets?

Yes, point spreads can be used in parlay bets. You can also include moneyline bets, point totals, prop bets, and more into your parlays. When in doubt, check the “House Rules” section of the sportsbook you’re using to see what options are available when creating your parlays.

What is a teaser bet in relation to point spreads?

A teaser bet is a variation on a parlay bet where a point spread is adjusted (or “teased”) toward the favorite. For NFL betting, the most common teasers are 6-point, 6.5-point, and 7-point teasers. Because they act as a parlay, all legs of your teaser must hit for your bet to win.

How do sportsbooks make money from point spread bets?

Sportsbooks make money from point spread bets through using a vig system, acting as a fee for using the bookmaking service on winning wagers. If you and a friend took opposite sides of a point spread bet, each wagering $100, the winner would get the full amount, effectively giving the wager +100 odds. However, sportsbooks tend to use -110 odds as the marker for an even bet, meaning the $100 stake you used before would now only win you $90.91 with the sportsbook taking the remaining $9.09 in vig.

What should I consider before betting on a point spread?

Before betting on a point spread, there are many factors that you should consider, including line movement and vig, injury reports, playing conditions (weather, turf/grass, temperature, etc.), and team performance trends.

Why do point spreads differ between sportsbooks?

Point spreads differ between sportsbooks for a variety of reasons, including vig percentage, betting action, and matchup analytics. These differences can play a factor in the likelihood of winning your bets and in how much money you can make on successful wagers. It is always worth it to spend time shopping around to find the best odds on the bets you plan to make!