Betting Spread Payout

Betting Spread Payout
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Learning how to read betting odds is a critical step to finding success as a sports bettor. Some believe this is a difficult task, but with a little time investment and some practice, reading odds can become second nature. Among other things, understanding odds helps determine bet sizes, payouts, and how to discover (and exploit) value in a betting line.
The following breakdown educates new bettors about how to read and understand betting odds—and how to turn that knowledge into profit.
The first thing to know about betting odds is what they represent. Betting odds are a tool that reveals an oddsmaker’s opinion (or stance) on a particular game, event or proposition. They also reflect how much money bettors must risk to win a specific amount—that is, the potential payout.
Vigorish (also known as “vig” or “juice”) is the name given to the amount charged by the sportsbook for taking your bet. Think of it as the casino’s cut for the service it provides. Vig amounts vary from sport to sport and wager to wager, and it’s not always easy to determine the vig from reading the odds.
A good example would be a coin toss that has an equal chance of landing either heads or tails. Because of the theoretical 50-50 outcome, you would expect to get even money in return for a coin-toss bet—in other words, if you bet $10 on heads and the coin lands on heads, you would expect to receive $20 ($10 original bet, $10 profit).
However, sportsbooks don’t operate this way. Instead, they offer odds of -110 for each side of a point-spread wager (we’ll dive into moneyline odds later). This means for every $10 you want to win on a spread bet, you have to bet $11.
If the odds were even (also represented as +100 in American sports betting), an $11 bet would have a payout of $11 (so a total return of $22). But at -110 odds, an $11 bet pays out $10 (total return of $21).
Another way to look at it: Let’s say you place a $100 bet at -110 odds. Your potential winnings aren’t $100 but rather $90.91. Here’s the math:
So how do we explain that missing $9.09? It’s the vig.
Implied probability is the expected chance of an outcome as determined by bookmakers, and it’s shown using odds.
For serious bettors who want to assess the potential value of a bet, it’s paramount to convert odds into implied probabilities. If you give a team a 60% chance of winning, but that team’s implied probability of winning is 40%, you theoretically have an edge over the sportsbook.
The process for converting odds to implied probability involves a somewhat tricky math equation, but it’s well worth your time learn it—especially if you plan on being a serious sports bettor. The equation is slightly different for underdogs and favorites.
For favorites: Odds/(Odds +100) * 100 = Implied Probability
For underdogs: 100/(Odds +100) * 100 = Implied Probability
Let’s put these calculations to work using this hypothetical game:
The implied probability for Team A would be 54.54%; for Team B, it’s 46.51%.
Odds with a negative (-) symbol indicate the betting favorite. The number that follows the negative symbol (the odds) reveals how much to bet for every $100 you want to win.
For example, as explained above, if the team you’re betting has -110 odds, you need to wager $110 to win $100. If your team has -150 odds, you must risk $150 to win $100.
How much do you have to wager if you want to win $300 on a favorite of -150 odds? Simple multiplication: $150 x 3 = $450.
The term “chalk” in sports betting refers to a team that is favored on the odds board. When you hear someone say, “The New England Patriots are a big chalk this week,” they mean the Patriots are a heavy favorite. A small chalk, then, would be a slight favorite.
There is no magic number that differentiates a “big chalk” from a “small chalk” in any given sport. The more you get involved in sports betting, the quicker you’ll begin to form your own definition for “big chalk” and “small chalk”.
When odds are presented with a plus (+) sign in front of them, that signifies the underdog. Whereas negative (-) odds tell you what you have to bet on the favorite to win $100, positive (+) odds tell you how much you’ll win for every $100 you wager on the underdog.
So, a team with odds of +120 would payout $120 for every $100 wager. A team with +250 odds would pay $250 for every $100 wager (or $500 for every $200 wager, or $750 for every $300 wager).
The term pick’em in sports betting refers to a game or match that has no favorite or underdog. In this case, both sides are considered equal and there is no point spread listed. On the odds board, you can spot pick’em games one of two ways.
The first is that the moneyline odds are identical for both teams—both sides are listed at +100 (+100 being the sports betting equivalent of “even”).
When it comes to pick’em point spreads, the usual number you see on the betting board—for instance -2 or +4.5—is replaced by two letters: PK
Here are three examples of what a pick’em looks like at the sportsbook:
Once you spend enough time betting on sports, you will come across some common point spreads, moneylines and odds. Here are several examples of what you’re most likely to see (and what it all means):
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Brian Pempus has covered the U.S. gambling indusry since 2009, starting with Card Player Magazine in Las Vegas. He was later deputy editor of sports betting at Better Collective and managing editor at The Game Day, before joining Forbes Advisor in 2022.

OddsShark Sports Betting What Is A Point Spread And How Does It Work?
A point spread in sports is a way for oddsmakers to make a matchup between two unbalanced teams more balanced by giving points to or taking points away from each team.
The favorite in a matchup, indicated by a minus (-) sign, will have a given number of points taken away from its final score, while the underdog , known by its plus (+) sign, will have the same number of points added to its final score.
Be sure to check out our sports betting glossary to assist you with some of the terms used in our sports betting guides.
NFL spread betting is probably the most common and popular way to bet on football as it adds some excitement and better odds over just picking an outright winner. If you are new to betting the NFL altogether, be sure to check out our great How to Bet on the NFL guide.
Here is an example of a point spread for an NFL game and how it would look:
As you can see, Dallas is the 4.5-point favorite, which means the Cowboys would need to win the game by five points or more to win the bet. Conversely, New York is a 4.5-point underdog, which means to win the bet the Giants would need to win outright or not lose the game by more than four points.
If the Cowboys win 20-17, they win by three points and do NOT cover the 4.5 points, but the Giants have “covered the spread” by staying within 4.5 points.
Point spread wagers often will be put into parlays in which you make multiple bets on one slip for a larger payout. If you have a few games that you’d like to wager on and want to see how a payout changes by adding or subtracting games, feel free to play around with our odds calculator to help you learn how odds work.
There are certain point spreads that bettors should be aware of that are known as “ key numbers .” These spreads are directly related to how points are scored in football such as a field goal (three points) or a touchdown (seven, assuming a successful one-point conversion). The three main key numbers in NFL point spread betting are 3, 7 and 10, representing a field goal, a touchdown and a field goal plus a touchdown.
The two most common margins of victory are three and seven points because of the type of scoring in the NFL. This is why you should shop around at different sportsbooks to find better lines to maybe gain an edge over the key numbers like getting a +3.5 spread as opposed to just +3 – you can get a quick look at the different books at our NFL odds page .
You can also “buy” points with a “ teaser bet ” in which you can move a +7 line to +8 but the odds may shift from -110 on the +7 to -135 at +8, meaning less of a return on your winning ticket. You can have key numbers on OVER/UNDER totals as well.
The most common betting line for a point spread is -110. A -110 line on either side is like paying a tax or commission to the sportsbook. Bettors would pay 10 percent (aka juice) to the sportsbook, which is essentially a fee for brokering the wager. So, the -110 indicates that a bettor must risk $110 to win $100. Some sportsbooks will even reduce the juice for you, which means you can earn the same $100 payout but risk less money to do it.
For example, if you see -7.5 (-107), then you only need to wager $107 to win $100 (saving you $3). If you see -7.5 (-102), then you only need to wager $102 to win $100.
There are three potential outcomes of your point spread wager: you win, you lose or you push (a tie). Typically, a point spread has odds of -110 for either side of the bet. In the example above between the Cowboys and Giants, the point spread is 4.5 points, while the odds are -110, meaning you would have to wager $110 to earn a profit of $100, or a profit of $0.91 for every dollar you bet.
A losing bet is quite simply you betting on the Cowboys -4.5 and they only win by four, for example. You lose the money that you placed on that bet.
A push wouldn’t happen in the example above because a team can’t win by half a point. It is very common, though, to have a betting line of +3/-3. Let’s say a favorite wins by exactly three. That is called a push and you simply get your money back with no profit and no loss.
PK or Pick’em means that the matchup is so close that there’s neither a favorite nor an underdog. Whatever team you pick to win when betting on the point spread simply has to win the game and the margin of victory doesn’t matter. In these cases, there may not even be a point spread available for the game and you can only bet on the moneyline .
This is a very common occurrence in sports betting and sportsbooks have the full right to shift the spread or odds for any given match prior to its start. Many factors can influence a change of the spread such as injuries, the number of bets coming in for either team or the weather, to name a few. Depending on the timing of placing the bet, the bettor can also have an advantage or a disadvantage depending on which way the spread has shifted.
Here is an example of a change in the spread:
If bettors had wagered on Dallas on Monday, they would be at a disadvantage compared to bettors who waited until Thursday because the Thursday bettors now only need Dallas to win by four points instead of five. But it can also go the other way:
If bettors had wagered on Dallas on Monday, they would now have the advantage over the bettors who waited until Thursday because the Thursday bettors need Dallas to win by eight points or more instead of only five.
Yes, in fact, sportsbooks also release spreads for different points in the match like after the first quarter or first half, which is called live betting or in-game betting . Oddsmakers will set spreads for those different checkpoints and it’s up to you as the bettor to determine which team will lead or trail by a certain number of points after that unit of time.
Here is an example of a first-half spread:
As you can see, Dallas is a 2.5-point favorite to lead the first half by three points or more whereas New York is a 2.5-point underdog, which means the Giants would need to be ahead or not trail by more than two points at the end of the first half.
The popularity of the point spread bet in the NFL is equally shared by NBA bettors and it works essentially the same way. When Giannis Antetokounmpo and the Milwaukee Bucks tip off at Madison Square Garden against the New York Knicks, the Bucks are going to be -800 on the moneyline but may have a point spread of -13.5 points with odds of -110, with the Knicks coming back at +13.5 with a -110 line.
As seen in the NFL with line movement throughout the week, in basketball, you’ll see the line movement occur much faster in a shorter time frame. When we looked at key numbers in the NFL, it was in regard to scoring. A similar approach can be taken in the NBA but it’s more connected to possessions. Look for key numbers such as five and seven because they tend to represent two- and three-possession games.
Be sure to check out our Basketball Betting News and our How to Bet on the NBA guide for more options and assistance in getting you in on the action for basketball.
A puckline is what a spread is called in the NHL, while a runline is associated with MLB betting. In both cases, the spread is almost always -1.5 for the favorite and +1.5 for the underdog, but the betting odds fluctuate a lot more than in NBA or NFL point spreads because the spread doesn’t usually change. There are instances in both the NHL and MLB where you see a 2.5-point runline or puckline but those are few and far between, typically between your league leader and a cellar-dweller.
A point spread bet is also referred to as betting the spread or handicap betting. Point spread betting is a sports betting market in which a team either has to win by a specific number of points or goals, or not lose by a specific number of points or goals.
If New York is +2.5, that means they are the underdog and have been spotted or given 2.5 points. If New York loses by two or fewer points, then it is a winning bet. If New York pulls off an outright upset, then that is also a winning wager.
When it comes to point spread betting, and you bet against the spread, it won’t be enough for the favorite to win the game outright. The favorite would have to win by more than a specified number of points or goals (the spread) in order for that team to cover the point spread.
Odds Shark Staff Thu, Aug 11, 12:26pm
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Not a bad article, but the numbers need to be cleaned up. For example, you have 1/2.41 = 41.7% and 1/2.41 = 62.11, which is obviously not possible. The second one is wrong (I assume 2.41 was not supposed to be used again.) Also, 1/4.5 = 0.222, not 0.171. 2/(8+2) = 0.200. If decimal odds are 4.5, then that's actually 7:2, wh
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