Betting Education
Point Spread Betting
Point Spread betting is a popular form of wagering on sports that involves handicapping one team by setting a margin (the 'spread'). Bettors then choose whether the favorite will win by more than the spread, or if the underdog will keep the game closer than the spread or even win outright. This makes every game interesting, not just from a win-or-lose perspective but how teams perform against the spread.
The key to Spread betting is understanding how the spread can shift the betting dynamics. A favorite must not only win but win by more than the spread to cover, hence "covering the spread." Conversely, an underdog can lose the game but still win the bet if they lose by less than the spread or win the game outright.
Example of Spread Betting
Consider an NFL game where the New England Patriots are favored over the New York Jets by 7 points. The spread might be set at Patriots -7. This means the Patriots need to win by more than 7 points for a bet on them to pay out. If you bet on the Jets, they would need to lose by fewer than 7 points or win the game for your bet to win.
- Patriots Odds: -7 (must win by more than 7 points)
- Jets Odds: +7 (must lose by fewer than 7 points or win)
This example illustrates why understanding the point spread is essential for strategizing your bets, influencing both the perceived risk and the potential rewards of the bet.