What is point spread betting? How to bet the spread

Betting on the point spread is one of the most popular bet types available at licensed, regulated online sportsbooks in Michigan. There’s either a plus (+) or minus (-) assigned to an opponent on either side of a point spread betting line. A plus number represents the underdog, while a minus number represents the betting favorite.

The goal of a point spread is to give each opponent an equal opportunity to win or lose by a certain number of points. Point spreads are simply the number used to make the gap in power between teams as even as possible. 

Throughout this point spread betting guide, I’ll provide more details about the point spread, with plenty of examples, as well as how to read the point spread odds, how it differs across major sports, and several betting strategies while answering other relevant questions to help you prepare for betting on the point spread.

To read point spread odds accurately, you need to look at the plus and minus number on either side of the betting line. Here is an example to help give context when betting on a point spread.

Here is another example of reading point spread odds in NFL betting markets.

Point spread wagers are among the most popular bet types placed by sports bettors in Michigan, specifically for team sports. While each team sports betting market contains a point spread, it’s sometimes called a different name and also is valued differently depending on the sport. 

Here is what the point spread is called and how it works for each of the following sports betting markets at all legally licensed and regulated Michigan online sportsbooks.

We’ve already covered a couple of different football point spread examples. Oddsmakers can change NFL point spreads for football betting markets any time leading up to the start of an event. 

While the odds stay between -105 and -120 for the most part, sometimes going down to -130 or up to +100, the point spread number is primarily what changes in football betting markets. If a lot of money is coming in on an NFL point spread ahead of kickoff, oddsmakers often change the point spread number, resulting in the Lions going from -3.5 to -4.5 favorites, depending on the betting handle.

NBA point spreads are identical to the point spread in football. The point spread number may look bigger, especially compared to NFL point spreads, getting up to -30.5 or beyond. However, the same concept applies in terms of the odds staying between +100 and -130. 

Example: The Detroit Pistons are +18.5 on the point spread during their opening game of the 2024 NBA season. This means you can bet on the Pistons to lose by 18 points or less, including an outright win, but if they wind up losing by 19 points or more, it settles as a losing bet.

Baseball is the first popular betting market where we’re getting a different name and operation assigned to the point spread.

In baseball, the point spread is called the run line. It’s typically set to -1.5 for the betting favorite and +1.5 for the betting underdog in a game. Odds for run lines tend to be -150 to -200 for MLB underdogs while getting close to +100 or longer for MLB favorites with a -1.5 run line. 

Example: The Detroit Tigers face off against the Seattle Mariners. The Tigers are +1.5 on the run line, which makes them an underdog. However, the odds on the +1.5 run line are set to -150, compared to +130 odds for their moneyline odds. 

If the Tigers lose by one run or win outright, a $100 bettor cashes -150 odds for a $66.67 profit. Bettors who are bold and take the Tigers on the moneyline at +130 win $130 of profit on a $100 wager, but Detroit has to win outright because losing by one does not cash the moneyline bet.

The point spread in hockey is just like baseball, except it’s called the puck line instead of the run line. Oddsmakers almost always set the puck line to -1.5 and +1.5, unless there’s an extremely lopsided matchup, which can result in -2.5 or +2.5 leading up to puck drop.

Example: The Detroit Red Wings are +1.5 against the Toronto Maple Leafs. Bettors taking the Red Wings at +1.5 are going to lay anywhere from -130 odds to -200 odds. A bettor taking the Maple Leafs at -1.5 is likely going to get plus odds (+100, +110, etc.) due to the increased difficulty of winning by two or more goals.

In hockey, there’s a bit of a twist, as teams down by one goal late in the game tend to pull their goaltender for a man advantage. This creates an opportunity for the opponent with a lead to score an empty-net goal, resulting in a two-goal win. So in close NHL games, betting +1.5 puck line odds can wind up losing in the final seconds of the third period. 

Here are a few strategies I find helpful when betting the point spread for football, basketball, baseball, and hockey.

This may sound like an obvious strategy but it’s important to spend time looking over relevant betting trends and statistics before placing a point spread wager. 

For example, if the Detroit Tigers are +1.5 on the run line, baseball’s point spread, and I see a statistic that says the Tigers have covered 11 consecutive run lines on the road, this gives me a bit more encouragement by being informed about how the team plays on the road in regards to the run line. 

Of course, trends and statistics only can predict so many outcomes, so use your best judgment. However, blindly placing a point spread wager is not a good strategy for long-term profitability.

Similar to the stock market, betting lines move up and down per hour, day, and week leading up to a sporting event. Oddsmakers adjust the point spread higher or lower based on the amount of money coming in on a particular side of the point spread.

By tracking a point spread’s line movement, you’ll see the direction it moves before an event starts, giving you a good idea of which side is more popular. Oftentimes, plus EV bettors, or expected value bettors, avoid taking the popular side of a point spread since there’s more value on the other side, which applies to favorites and underdogs.

Before you place a bet on a point spread, make sure you know the house rules of a sportsbook and the rules of the sport you’re betting on. 

In hockey, for example, if you back the Detroit Red Wings to cover the +1.5 point spread, and they wind up pulling their goaltender down one late in the game to attempt a tie, this creates a greater chance of their opponent scoring an empty-net goal to wind up winning by two, resulting in a losing wager. 

If you take a point spread on an even number (-8, +6) and the team you bet on covers the number exactly, either winning by eight points or losing by six points, most sportsbooks will settle your point spread bet as void, also known as a push, returning your initial stake but no additional winnings.

Register multiple sportsbook accounts to find the best value assigned to a point spread betting line. Oddsmakers often set lines differently. The Detroit Lions might be -3.5 at -105 odds on the point spread at FanDuel Sportsbook, but at Caesars Sportsbook, they are -2.5 at -115 odds. 

You get to choose whether or not you want to lay a bit more vig at -115 for the Lions to win by three points or more, or avoid -115 odds by taking them at -3.5 to win by four or more points at -105 odds instead. Or, the Lions may be -3.5 at BetMGM but available at +100 odds, giving you better value compared to -3.5 at -105 odds offered at FanDuel.  

Yes, the point spread is a winnable bet. You need the team you’re betting on to cover the handicap assigned by oddsmakers at a particular sportsbook. Odds vary for point spread on the same game, which is why line shopping amongst multiple sportsbooks to find the best value is strongly encouraged.

Once you’ve decided which side of the point spread you’re going to bet on, the team you pick either has to lose by a certain number of points or win by a certain number of points to cover your wager. 

Unlike moneyline odds, which represent a team winning outright by any margin, often with shorter, less valuable odds, point spread odds tend to hover between +100 and -130 at most sportsbooks. This is why point spread wagers are popular since bettors typically aren’t laying over -150 or -200 on a point spread compared to moneyline odds, avoiding a lot of vig.

Yes, you can parlay point spread bets at all licensed and regulated online sportsbooks in Michigan. Whether it’s the same sports betting market, like the NFL, or parlaying NFL, MLB, and NBA point spreads, you can construct any preferred parlay with point spread betting lines.

Betting point spread parlays is riskier since a bettor needs every leg of the parlay to settle as a win, however, the odds increase substantially with each leg added. If you parlay the Lions -3.5, Red Wings +1.5, and Pistons +18.5, the odds will inflate to +200 or +300, allowing you to double or triple the amount of money wagered.

Oddsmakers set lines based on various AI algorithms, which account for hundreds upon thousands of data points to help accurately predict a point spread line. The other big factor in setting a point spread line is the amount of money and bets placed on one particular side of a point spread, resulting in line movement. 

If the majority of money is coming in on the Lions -3.5, oddsmakers will likely move this number to -4 or -4.5 to compensate. This creates value for the opponent, who moves from +3.5 to +4 or +4.5. Now, the underdog can lose by four points instead of three points or less. Depending on the amount of money wagered, also known as the betting handle, and the number of total bets placed on a point spread, the betting line can move at least one or two points in either direction.

Sportsbooks make money on point spread bets by charging vig, or vigorish, on each side of the line. Whether it’s -105 or -130, any point spread betting line with minus odds indicates a sports bettor will have a certain number of cents withheld from every dollar staked. So if you stake $100 on a -130 point spread, instead of getting $100 in profit with a win, you receive $76.92 in profit. The other $27.08 is the amount of money made by the sportsbook.