How point spreads work
A point spread levels the matchup. The favorite gives points, the underdog gets them, and the bet is about the margin of victory rather than who wins.
Reading a spread
Suppose a game is listed like this:
| Team | Spread | Price |
|---|---|---|
| Home team | -6.5 | -110 |
| Road team | +6.5 | -110 |
- Home team -6.5 must win by 7 or more points for the bet to win.
- Road team +6.5 wins the bet if the road team wins outright or loses by 6 or fewer.
Half points and pushes
The half point (the "hook") means the bet cannot tie. On a whole-number spread such as -7, a win by exactly 7 is a push: the stake is refunded and nobody wins. In the NFL, 3 and 7 are common margins, so spreads of -3 and -7 get a lot of attention. Moving from -3 to -3.5 changes the outcome of every game decided by exactly 3.
Why the price is usually -110
The spread is set to attract roughly equal money on both sides, so the price on each side is usually -110. The sportsbook's margin comes from the gap between that price and a fair even-money price. A -110 bet needs to win about 52.4% of the time just to break even. See implied probability and the vig.
Spread versus moneyline
The moneyline is a bet on the winner only, with no points. The favorite pays less, the underdog pays more. The spread and moneyline describe the same game in two ways, so they move together. Learn how moneyline prices work in how to read American odds.