Point Spread Bets
A point spread (or "spread") is a handicap applied to the favorite to make the bet roughly 50/50. The favorite must win by more than the spread to "cover"; the underdog covers by winning outright or losing by less than the spread. Both sides typically pay around -110.
Example: Colts -3.5 vs. Texans +3.5
If you bet the Colts -3.5 and the Colts win by 4 or more, you cover. If they win by 3 or less (or lose), you lose. Conversely, if you bet the Texans +3.5, you cover if Houston wins outright or loses by 3 or fewer points. A half-point spread eliminates the possibility of a push (a tie).
When to Use Point Spread Bets
Use spreads when you have an opinion on the margin of victory, not just the winner. The spread also pays better on favorites than the moneyline does.
Pros
- Better payouts than moneyline on favorites
- Forces sharper handicapping than moneyline
- Roughly 50/50 odds — clean to analyze
Cons
- Margin of victory matters as much as winning
- Half-point hooks cost real money over time
- Standard -110 juice creates a meaningful long-term house edge
Common Mistakes
- Ignoring "key numbers" in football: 3 and 7 are by far the most common winning margins. Buying through 3 or 7 is rarely worth the price
- Chasing line moves: a spread that moved from -3 to -4 reflects information already priced in
- Treating -110 juice as free — over time, the 4.5% house edge on -110 vs -110 is significant
FAQ
What does -110 mean on a spread?
You must risk $110 to win $100. This is the standard "juice" — the sportsbook's built-in margin. Some markets offer reduced juice at -105 or -102.
Can a spread bet push?
Yes, if the spread is a whole number (e.g., -3) and the favorite wins by exactly that margin. Pushes return your stake. Half-point spreads (e.g., -3.5) cannot push.