Point Spread Betting Explained

In sports betting, three core wager types dominate: the moneyline, the over/under, and—arguably the most popular—the point spread. A point spread bet isn’t about simply picking a winner. Instead, it’s about predicting the margin of victory or defeat. You’re not—let us stress this—you’re not necessarily choosing who wins the game. That’s the role of the moneyline.

How do these point spreads work? When is it best to use them? Can point spreads make for good parlay bets? We're here to break it all down.

How Point Spread Bets Work

Point spread lines are broken down into two options: The favorite and the underdog.

Seeing this in action is best done with an example. So let's assume you've perused the latest college football odds and stumble across the following game's point spread: Ohio State (-7.5) vs. Penn State (+7.5). In this hypothetical, Ohio State is the favorite (because they're giving 7.5 points) and Penn State is the underdog (because they're getting 7.5 points).

When you invest in the favorite, you are essentially picking a winner. But it isn't just that simple. You're also saying that the favorite, in this case, Ohio State, will be winning by more than 7.5 points. So Ohio State can technically win, but your bet still loses.

On the other side of the fence, when you bet on the underdog, you're not predicting a victory. Instead, for our example, you'd be counting on Penn State to lose by fewer than seven points. So if they lose by seven points or fewer or even beat Ohio State, your wager ends up hitting.

That's how the point spread works. It's that easy. Check out the below sportsbooks for the best point spread odds.

Potential Payouts on Point Spreads

If you're a bettor who values more lucrative returns, point spreads may not be for you.

Point spread bets typically carry odds around –110, whether you’re backing the favorite or the underdog. Some sportsbooks now offer reduced juice—like –105—or occasionally shade lines to –115, but those variations are still less common than the standard –110 in 2025. By contrast, moneyline wagers produce a much wider range of outcomes: the prediction is more straightforward, but the potential payouts can swing dramatically depending on how heavily favored or underrated a team is.

One thing to keep in mind: point spreads often shift after they’re first posted. Oddsmakers adjust the line based on betting activity, injuries, or other factors. While totals and moneylines can also move, the spread is frequently the market that sees the most noticeable changes.

So if you're going to invest in point spreads, we recommend making the call as quickly as possible. You won't be guaranteed to capitalize on market efficiency, but you'll get a chance to pounce on what is typically the more bettor-friendly odds.

When Does It Make Sense to Bet Point Spreads?

A lot of people tend to ask the benefits of betting the point spread. It is functionally more difficult than the moneyline, and the returns are never huge. Why tie yourself to a margin of victory or loss rather than just bet on a straight-out win?

It's a fair query. But point spreads can guarantee close to a 1-to-1 return on any successful bet. You don't get that luxury with moneylines, where heavy favorites are normally something like -450 and require you to wager $450 bucks just to win $100.

The trick is knowing when it makes sense to roll with a point spread, particularly on favorites. And the answer is kind of a duh moment: You're best off doing it when you feel there's going to be a blowout.

When you expect one team to win in a blowout—by double digits or more—it usually makes more sense to take the point spread than the moneyline, especially in football and basketball. For instance, suppose the Kansas City Chiefs are 13.5-point favorites over the Chicago Bears. On the moneyline, you might see odds around –600, meaning you’d need to risk $600 just to win $100. But if you back the Chiefs against the spread at –13.5 (typically priced near –110), you’d only risk $110 to win $100, provided they win by two touchdowns or more.

The same is often true for betting on the underdogs. If a soccer team such as Manchester United is playing a lower league team in a cup competition, bookmakers may make Manchester United a -2 or -3 on the goals spread. If you hear that Manchester United are set to field a second-string team, or their lesser opponents have been playing well, you may want to bet on the underdogs (who will have a 2 or 3 goal start) and hope they manage to keep the score down.

That's the general idea behind point spreads: stability in potential payouts, even if it's a bit tougher to hit them.

Point Spread Betting Strategies

There are not too many point spread strategies to choose from; they're not built to take a bunch of different directions on your bet slip. That said, there are a few that remain fairly popular.

Targeting Significant Underdogs

Betting on underdogs can always be dangerous. You should first and foremost have actual belief in the team or competitor in which you're investing. Working underdog point spreads is not something that should be done randomly.

At the same time, when you're looking at mega underdogs—we're talking teams that are laying a -14, -21 or more in football, for example—there are those who believe a below-average number of the favorites actually cover. So, in these instances, they'll throw money on the underdogs, thinking they have a fairly substantial margin for error.

This logic generally holds. Teams that build big leads often shift into a more conservative style, running the ball, draining the clock, and easing up on defense. Imagine Georgia is favored by –17 against Kentucky. They might jump ahead by three touchdowns, but once they protect the lead instead of pushing the pace, the margin can shrink. In that case, betting the underdog to cover becomes viable, even if the game itself was never truly competitive.

Parlaying Point Spreads

Bold bettors will parlay a few points spreads that they're confident in, regardless of how much the teams are laying. A more conservative approach entails targeting a few smaller point spreads and parlaying those. We're talking about spreads so small they basically pick 'em situations, so it's like you're parlaying moneylines.

Take a look at this hypothetical betting slip someone might decide to build after perusing the latest NFL odds:

  • Dallas Cowboys (-1)
  • Seattle Seahawks (+1)
  • Las Vegas Raiders (-1.5)
  • San Francisco 49ers (-2)

You could bet on each spread individually at –110 odds. Because the lines are so small, each one is close to a moneyline wager in disguise. But if you combine them into a single parlay and all four teams cover, the payout grows dramatically.

At standard –110 odds, a four-team parlay like this would return about $1,339 on a $100 stake — a profit of roughly $1,239. Turning a handful of near-even wagers into better than a 12-to-1 payout shows the appeal of spread parlays, even if the risk of one leg spoiling the ticket is always there.

Point Spread Prop Betting

This isn't a prop-betting strategy people employ too often. Really, though, point spread props can be quite valuable.

Here's how it works: Bettors will look to wager on midgame point spreads, either for a half, quarter, period, whatever. Most tend to target the latter end of games when the outcome could potentially be determined, and they have a better sense of how hard teams are going to play.

For example, imagine you’re watching a Cowboys–Seahawks game and Dallas leads by 14 at halftime. Oddsmakers will set a new second-half point spread that often favors Seattle, expecting them to play harder while the Cowboys protect their lead. Depending on the number they post—say –7 or –3—you can decide whether it makes more sense to back Dallas to extend their advantage or take Seattle to close the gap.

It doesn't sound like a more predictable proposition at first glance. But by knowing how specific teams have played when they're holding big leads. More commonly, bettors like to prioritize teams that are trailing big entering the second half, fourth quarter or final period. The belief is they'll be the side that plays harder, while the team that's actually ahead will take its foot off the gas and adopt a more conservative approach.

Truthfully, this might be the most airtight point spread strategy we've discussed. Teams will huge leads are inherently more likely to drop off as the game wears on, in no small part because it's expected that they'll pull their best players. This doesn't always happen in the NFL, but in college football, college basketball, and the NBA, it's a virtual certainty.