Point Spreads

When two teams of very different quality play each other, a straight moneyline bet on the favorite pays almost nothing — you'd risk $300 to win $100. Point spreads fix this by giving the underdog a head-start in points before the game begins.

The spread creates a more balanced market: both sides of a spread bet are usually priced at −110, making it easy to calculate and hedge.

• Chiefs −7.5: Kansas City must win by 8 or more points for this bet to win.
• Bills +7.5: Buffalo can win outright or lose by 7 or fewer points and still cover.

"Covering" means your team beat its assigned spread target. A few outcome examples from the Chiefs −7.5 / Bills +7.5 game above:

A push happens when the final margin exactly equals the spread. If the Chiefs won by exactly 7 and the spread was −7 (not −7.5), it's a push — both sides get their stakes refunded, no winner declared.

Books use half-point spreads (−7.5, −3.5) specifically to eliminate pushes. Full-point spreads can push. For matched betting, a push means both bets are refunded, which effectively cancels the promo conversion — neither a profit nor a loss.

Many sportsbook sign-up offers specify that the qualifying bet must be placed on a spread or moneyline. Spread markets have a few properties that make them attractive for this:

• Balanced pricing (−110/−110): Both sides cost the same, making hedge calculations simple.
• Available on every major game: Unlike exotic props, every NFL/NBA/NHL/MLB game has a spread.
• Low qualifying cost: At −110/−110, hedging a $10 qualifying bet costs approximately $1 regardless of outcome.