Definition
The point spread (or simply "spread") is the American equivalent of a handicap bet. The bookmaker assigns a point advantage to the underdog and a point disadvantage to the favorite to create a roughly even-money proposition on both sides. Spread betting is the most popular form of wagering in American football (NFL) and basketball (NBA).
How It Works
The favorite is listed with a negative spread (e.g., -6.5) and the underdog with the corresponding positive spread (+6.5). To cover the spread, the favorite must win by more than the spread number, while the underdog must either win outright or lose by fewer points than the spread. Both sides are typically priced at -110 (American odds), or 1.91 in decimal.
Example
NFL: Kansas City Chiefs -6.5 vs Buffalo Bills +6.5, both at odds 1.91:
- Chiefs win 27-17 (by 10): Chiefs -6.5 covers -- Chiefs bettors win
- Chiefs win 24-20 (by 4): Bills +6.5 covers -- Bills bettors win
- Chiefs win 27-21 (by 6): Bills +6.5 covers -- Bills bettors win (6 < 6.5)
A $100 bet on either side pays $91 profit if correct.
Why It Matters
Spreads create balanced markets where both sides are attractive. This is important because it means the bookmaker's margin is smaller than on lopsided money line bets. For bettors, understanding spreads opens up strategies like teaser bets (adjusting the spread in your favor for lower odds), buying or selling points, and middling (backing opposite sides at different numbers). In the US market, the vast majority of handle is on spread bets.
Use our handicap tool to convert between American spreads, Asian handicaps, and European handicaps and find the best available price.