As sports betting becomes more widely accepted, we have noticed several interesting changes. Point spreads used to only be subtly mentioned during game broadcasts, but that has changed.

In today’s media landscape, discussions about spreads are widespread. Topics range from favorites and underdogs to potential coverages, and it’s all up for debate. This is because point spread betting plays a crucial role in influencing betting at authorized sportsbooks.

With Illinois now regulating sports betting, more fans will understand the reference. Curious about point spread betting? Keep reading as we explore the fascinating details of this wager.

Point spread bets explained

Sports betting is fundamentally about choosing who will win and who will lose, as seen in moneyline bets. This usually results in clear favorites and underdogs in the odds. Yet, there are many cases where the favored team may not be the best option for a bet.

Can you explain what a point spread bet is? It’s a technique used by oddsmakers to even out the competition between two teams, known as a “point spread.” It’s essentially a predicted margin of victory, showing the difference in points between the two teams. You can still choose to bet on the favorite or the underdog, but now you have to take other factors into account.

If you choose to bet on the favored team, you must deduct the points. Alternatively, if you bet on the underdog team, you must add the spread. In either case, the spread must be covered in order for your bet to be successful. Let’s take a closer look at how the spread is covered.

How do teams cover the spread?

For example, let’s examine how a spread could be presented for an NFL game. The spread, listed as one of the main wagering options for this theoretical matchup, will be prominently displayed in the game listing.

Minnesota Vikings +2.5 (-110)

Chicago Bears -2.5 (-110)

Next to the two teams are two numbers. The first number shows the spread amount, while the number in parentheses shows the betting odds. In this case, the Bears are favored by 2.5 points, shown by the negative number.

To place a successful bet on the Bears, they must win the game by more than 2.5 points. A 30-27 victory would meet this requirement, but a 21-20 win would not. Conversely, if you’re betting on the Vikings, you need them to either lose by less than 2.5 points or win the game.

In this situation, we can flip the scores in our example. If the Vikings lose 21-20, they would still cover the spread, but they wouldn’t if they lost 30-27. Winning would also mean that the Vikings have covered the spread.

Are spreads used for all sports?

The point spread is a popular feature on the sportsbook betting menu, especially in team sports like the NFL and NBA. However, variations of it can also be found in other sports.

The MLB and NHL use a spread betting method that we will discuss shortly. Spreads are also used in one-on-one competitions like golf and tennis. The basic principle of a spread bet remains the same across different sports: the team you choose must cover the spread in order to win the bet.

How to place a point spread bet in Illinois

Sports betting apps and websites make it easier to place bets on the point spread, a common betting option in most games.

Orlando Magic	+1.5 (-110)	+115	O 209.5 (-110)
Chicago Bulls	-1.5 (-110)	-105	U 209.5 (-110)

The Bulls hold a small lead of 1.5 points over the Magic in this competition. Both teams have three sets of numbers representing different types of bets: point spread, moneyline, and total.

To place a bet on the spread, simply click on the box next to your desired choice. For example, if you wish to bet on the Bulls -1.5, click on that option and it will be added to your bet slip. Next, enter your wager amount, review your selections, and click the submit button. Your bet is now ready to go.

How do point spread betting odds work?

Online and mobile sportsbooks often start with a baseline of -110 for point spread bets, but this number can change after the initial release. In the following explanation, we will explore the reasons behind these fluctuations.

The odds of -110 indicate that in order to win $100, you must bet $110. The reason the return is not a simple $100 for every $100 bet is because of the “vig,” which is the fee charged by the operator for managing the bet.

The term “juice” is commonly used to refer to this, and it serves as a crucial revenue stream for sportsbooks. Without it, they would just be exchanging money, resulting in no profit. Think of the vig as the charge required to make your bets.

Initially, the odds for both sides of a point spread are usually equal. However, these odds may change as more people place bets. As the game approaches, there may also be minor adjustments to the spread.

Why do point spreads move?

Betting markets are fluid and ever-evolving. Once odds are released, bettors immediately begin placing their wagers. In scenarios with two options, one side may garner more initial bets, potentially putting the operator at risk of liability.

Sportsbooks aim to prevent this scenario by adjusting the odds to create a more balanced betting environment. For example, in a point spread bet, one side may have the odds reduced to -105, while the other side may have the odds increased to -115.

If the action is not balanced, additional adjustments may be required. Additionally, you may notice spreads changing by at least half a point as operators work towards finding the best mix. Therefore, it is advisable to compare prices to get the best deal.

For example, you may notice that PointsBet in Illinois is offering odds of -112 for a bet you are considering. Upon further investigation, you find that BetRivers has -108 odds for the same bet. While this slight variation may not appear substantial at first, it can add up significantly in the long run.

How much does a spread bet pay?

The outcome of a standard point spread bet, usually at -110 odds, can be anticipated. You could potentially earn $90.90 for every $100 bet at -110 odds. Yet, the specific odds may differ for each spread bet you make.

Once you have placed your bet at a sportsbook, the operator will display your potential return based on the amount you have wagered. If you are comparing lines, you can also use an online handicapping calculator to assist with the calculations.

If you would rather calculate it on your own, you can utilize formulas derived from the odds offered at IL sportsbooks:

• To calculate the return for negative odds, use the formula: Return = wager amount / (odds / -100)
• If the odds are positive, the return equals the wager amount multiplied by the odds divided by 100.

Illinois sportsbook rules for spread betting

Every online sportsbook and sports betting app has its own set of individual house rules. Although there are general practices that are widely accepted in the industry, each operator has the ability to make decisions based on their own discretion in certain situations. Let’s take a look at an overview of point spread betting.

• When placing a spread bet, the outcome is based on the number at the time of placing the bet. Any fluctuations in the spread afterwards do not affect your bet, as it is fixed to the original number chosen.
• In the event that games are postponed or delayed because of weather or similar circumstances, they may still be eligible for live betting if they are finished within a reasonable timeframe. Nonetheless, the operator reserves the right to void the wager at their discretion. If this happens, all bets will be considered null and void and refunded.
• The settlement will be based on the official league data, which sportsbooks use for spread betting purposes.
• If you bet on a spread with a whole number, such as three points, and the final score matches that number exactly (e.g. 30-27), your bet will be considered a “push.” In this situation, the bookmaker will refund your bet because it is essentially a tie.

It is important to understand the basic rules, but it is also important to note that unexpected situations may arise. To learn how the sportsbooks you are using will handle these situations, be sure to review their house rules or terms and conditions.

Point spread betting examples

Point spread betting may seem confusing at first, but by exploring additional examples, you can improve your understanding.

NFL point spread betting

The NFL point spread is a popular wager type, attracting a large number of bets for every game listed. Let’s consider a hypothetical example of an NFL point spread.

Green Bay Packers +3.5 (-110)

Tampa Bay Buccaneers -3.5 (-110)

The Buccaneers are the favorites by 3.5 points in the game. If Tampa Bay wins with a score of 31-27, they have covered the spread. But if the score changes to 30-27, the spread is not covered.

In our scenario, bettors can win a profit of $90.90 on $100 bets by supporting either the Green Bay Packers to win the game or to maintain a victory margin of three points or less, as the odds are equal.

NBA point spread betting

Basketball point spread betting is a popular choice among bettors. It is recommended to consider various options when looking for the best NBA odds, as the numbers can change significantly from when they are first released to tipoff. An example of an NBA point spread you may come across is:

Philadelphia 76ers +4.5 (-108)

Boston Celtics -4.5 (-112)

The Celtics are favored by 4.5 points over the 76ers, so they must win by at least five points to cover the spread. A final score of 105-100 would meet this requirement, but a 100-96 outcome would not be enough.

If the 76ers can keep the game within a four-point margin or win, they will cover the spread. A $100 bet at -108 odds would yield $92.60 in winnings, while the same bet at -112 odds would result in a return of $89.30.

MLB point spread betting

The MLB uses a run line instead of a point spread, with a consistent standard number for all games. For example:

Minnesota Twins +1.5 (+110)

Chicago White Sox -1.5 (-130)

Bookmakers often provide different run line options, but in most game listings, you will see the 1.5-run bet. To cover the spread, the White Sox must win by a margin of at least two runs. If they only win by one run, the Twins will cover.

Minnesota could potentially cover by winning the game. Keep a close eye on the odds for run line bets as there are valuable opportunities to be seized. However, be aware that MLB market movements can greatly impact both aspects of the wagering process.

NHL point spread betting

This kind of bet is similar in both the NHL and MLB. In the NHL, the spread is known as the goal line and is set at a consistent number. For instance, a point spread in the NHL might look like this:

Detroit Red Wings +1.5 (+105)

Chicago Blackhawks -1.5 (-120)

Betting odds for NHL teams can vary, so it’s a good idea to compare different options. Some bookmakers offer alternative goal lines, which could be worth exploring if you have a good grasp of the game.

The Blackhawks are predicted to have a 1.5 goal advantage in this game, requiring them to win by at least two goals, such as a 5-3 victory. The Red Wings can either win or keep the game close, for example, with a 3-2 win for the Blackhawks.

College football point spread betting

In college football, there are often mismatches on paper when bigger programs face smaller schools. However, the point spread adds excitement to these games. Let’s look at an example:

Wake Forest +20.5 (-110)

Notre Dame -20.5 (-110)

The Fighting Irish are expected to win by a significant margin of 20.5 points, meaning they need to secure a victory of at least 21 points to cover the spread. If Notre Dame dominates with a final score of 49-17, then bettors who placed their money on the Irish will come out on top.

Those who are supporting Wake Forest in their bets are optimistic that the team will keep the game within a 20-point margin. When placing bets on NCAA football, it is advantageous to analyze the starting betting lines and track their movement to understand the sentiments of bettors.

College basketball point spread betting

Betting on college basketball through the spread is a popular choice, from the regular season all the way to March Madness. The variety of spreads available can range from tight matchups to blowout victories. To illustrate, let’s consider a hypothetical scenario.

• Northwestern (-1.5)
• DePaul (+1.5)

In the battle between Illinois teams, Northwestern is expected to win by a slim margin of 1.5 points. They must win by at least two points, such as a 70-68 victory, to cover the spread. On the other hand, DePaul can cover with a loss by one point or by winning the game outright.

Throughout the regular season, many popular games see a lot of betting action, while lesser-known matchups may not. But once the tournament starts, every game is guaranteed to attract a large number of bettors to the window.

MLS point spread betting

In soccer, a goal line is utilized to determine scoring. Due to the nature of the sport, matches often have low scores and ties are common. This can lead to minimal statistical outcomes in MLS games, as illustrated below.

New York Red Bulls +0.5 (-110)

Chicago Fire             -0.5 (-110)

The Chicago Fire only need a one-goal victory to reach their goal line. If the Red Bulls win or draw, they will meet their goal. It is important to carefully consider the different betting options in soccer, as three-way outcomes, which include ties, are often available.

Other sports that use spreads

Spreads are commonly associated with team sports, but they are also used in other contexts. In tennis, for example, a spread is calculated based on the difference in games or sets during a match.

Petra Kvitova +4.5 games (-110)

Ashleigh Barty -4.5 games (-110)

To participate in this bet, you must forecast if Ashleigh Barty will win the match by a margin of five games or more, or if Petra Kvitova will be able to narrow the score difference to less than that.

Spread betting is not limited to just golf, as it can also be found in other sports such as cricket and rugby. Bookmakers will often match golfers in head-to-head duels with a spread factor in some betting types for every PGA Tour stop.

How to handicap point spread bets

Learning how to handicap point spreads may take some time, but there are many helpful online resources available to guide you as you refine your strategy. Here are some tips to help you begin:

• Know the Numbers: When betting on the spread, it’s crucial to understand that you are wagering with specific numerical values. If your analysis doesn’t align with the given points, it’s best to sit out of the game. Additionally, consider exploring different possibilities to find more favorable numbers for a specific match.
• Understand the Factors that Impact the Score: When betting on sports, it’s important to consider various statistics that can influence the outcome. However, not all of these stats are equally important. Key factors to focus on include points scored and allowed, turnovers, and injuries to key players. By prioritizing relevant information and ignoring irrelevant data, you can make more informed betting decisions.
• Keep an eye on the Line Shifts: The odds can reveal more than just the favored outcome. By tracking the changing numbers, you can gauge where the public is placing their bets. Utilize websites that track public betting percentages as part of your strategies and allow it to shape your decision-making process.

Achieving success in point spread betting requires being on the right path, but there are also potential pitfalls to be aware of. Here are a few to keep in mind:

• Don’t bet on every game. Instead, focus on a calculated strategy to increase your chances of winning and improve your overall success rate.
• Prevent Chasing Unfortunate Losses: It can be frustrating to fall short of covering a spread by just one point because of a missed kick or failed free throw. These situations are bound to happen, and it’s important to handle them with grace. Reacting with anger or trying to make up for the loss by doubling your efforts could lead to a harsh reality check.
• Don’t rely on luck: Becoming skilled at consistently beating the odds takes commitment, practice, and patience. While you may have some short-term success by guessing, it won’t lead to long-lasting accomplishments. If you want to make sports betting a hobby, you must dedicate time to honing your skills.

What to remember about point spread betting 

The point spread bet is a key wager in team sports, along with the moneyline and totals. Oddsmakers set the number, predicting the win margin, and bettors pick a side.

You can choose to bet on the favored team with points deducted or the underdog team with points added. The team you select must win by more than the spread for your bet to win. While spread betting may be difficult for beginners, with dedication and practice, one can become proficient at it.