How Spread Works Sports Betting

How Spread Works Sports Betting

States Where Sports Betting Is Legal

What Is A Spread In Sports Betting?

What Does The + And – Mean In Sports Betting?

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The proliferation of legal sports gambling in the U.S. has attracted millions of new bettors. If you are a newbie who wants to get in on the action, it’s imperative to understand what sports betting odds are, what they mean and what they entail for the bettor.
Sports betting odds involve two things.
First, sports betting odds outline a particular game or event outcome’s theoretical likelihood. Oddsmakers will set the lines according to the implied probability of either outcome happening. The sum of the probabilities exceeds 100%, as sportsbooks take a small cut on both sides of a line.
Second, sports betting odds dictate how much money a bettor needs to wager to make a certain profit.
Odds are displayed in one of three ways: American, decimal or fractional fashion. However, sports betting odds reflect just one part of the betting process.
Sports betting lines reflect a matchup’s expected margin of victory or defeat.
For example, the Boston Celtics and the Los Angeles Lakers are playing tonight. If oddsmakers calculate the Celtics will win by five points on average, they will set a line such as:
This adds or subtracts points from a team’s final score based on if they are the favorite or the underdog. If you bet the Celtics -5, they would need to win by more than five points for the bet to win. If you bet the Lakers +5, they would need to win outright or lose by less than five points for the bet to win.
Every line has corresponding betting odds, but those lines almost always imply a 50% probability with the sportsbook cut baked in.
Sports betting odds and lines come from sportsbooks and are offered to the consumer. You will find sports betting from websites like DraftKings, FanDuel and BetMGM.
The odds can come from a third-party firm, such as Kambi Group, or through in-house development. Sportsbooks that use the same third party for their odds typically have identical lines for many markets, but various promotions often alter lines.
Sportsbooks typically have a head oddsmaker who sets the odds and lines for games and events. This oddsmaker relies on sources such as computer algorithms, power rankings and outside consultants to set precise lines.
There are three ways to present odds.
The first way is American odds. American odds are based on a $100 bet but differ based on which side of the bet is expected to win.
If the bet is favored to win, you will see negative odds (- sign in front). This means you need to risk a certain amount of money to profit $100. For example, if the odds for a bet are -150, a bettor would have to bet $150 to profit $100.
If the bet is not expected to win, you will see positive odds (+ sign in front). This means you need to risk $100 to profit a certain amount. For example, if the odds for a bet are +130, a bettor would have to risk $100 to profit $130.
These odds can be scaled up and down. For example, a $10 bet with +130 odds would profit $13, returning $23 with your original $10 risk back. Conversely, betting $15 on a bet with -150 odds would profit $10, returning $25 with your initial $15 risk back.
The second way is decimal odds. Decimal odds are shown as one number representing the amount a bettor can win for every $1 wagered.
For example, a $1 bet on decimal odds of 3.0 would return $4 in total, a $3 profit, and the original $1 wager back. Conversely, a $1 wager on decimal odds of 1.85 would return $1.85 in total, a $0.85 profit, and the original $1 wager back.
Like American odds, these are scalable up and down. For example, placing a $10 bet on decimal odds of 2.0 would return exactly $20, or your original $10 wager plus a $10 profit.
Odds between 1.0 and 2.0 represent betting on a favorite, while odds above 2.0 represent betting on an underdog.
The third way is fractional odds. These are shown as fractions, such as 3/1 or 1/2. Multiplying the fractional odds by your wager shows what profit you would collect.
For example, 3/1 odds mean you profit three times the amount you wagered. A $1 bet at 3/1 would pay out $4 in total, or a $3 profit and your $1 original wager.
Conversely, 1/3 odds mean you profit a third of what you wagered. A $30 bet on 1/3 odds would return $40 total, or a $10 profit and your $10 original wager.
Odds are presented differently based on the sport, but only slightly. Understanding the simple differences is key to wagering on various athletic contests.
When betting the NFL, you must know the point spread (or line), the moneyline odds and the over/under.
For example, when examining a sportsbook, you may come across the following game listing:
The team with the plus sign on their point spread (Ravens) is the underdog and will get added points towards their final score (+4). Conversely, the team with the minus sign (Patriots) is the favorite and will have points deducted from their final score (-4).
The moneyline, listed in American odds, gives you the money you need to risk on either team to earn a certain profit. For the Ravens, you need to bet $100 to profit $200. For the Patriots, you need to risk $170 to profit $100.
Finally, the over/under is the estimated total points scored by either team (42.5), with both odds listed at -110. That means you can bet there will be either over 42.5 points or under 42.5 points scored by either team, but you will have to risk $110 to win $100 on either bet.
Basketball odds work like football odds. You need to know about the point spread (or line), the moneyline odds and the over/under.
When examining a sportsbook, you may come across the following game listing:
The point spread means the underdog (Lakers) will have five points added to their final score, while the favorites (Celtics) will have five points subtracted from their final score. You will need to risk $110 to profit $100 on either side.
The moneyline means you have to risk $100 to profit $175 on the underdog Lakers, while you need to bet $205 on the favored Celtics to profit $100.
The over/under is the estimated total points scored by either team, with both odds listed at -110. That means you can bet whether the combined score will be over 212.5 points or under 212.5 points, but you will have to risk $110 to win $100 on either bet.
Baseball odds work slightly differently from football and basketball odds. You will still see moneyline odds and an over/under, but the point spread (or line) will differ.
It’s too difficult to assign a point spread to baseball lines, so most sportsbooks assign a “run line”. The run line is 1.5 runs added or subtracted to either team with certain odds attached.
For example, when at a sportsbook, you may come across the following game listing:
The moneyline means you need to risk $100 to profit $135 on the Red Sox, while you need to risk $155 to profit $100 on the Yankees.
The total means you can bet there will be either over or under eight runs scored combined by both teams, and you will need to risk $110 to win $100 on either bet.
Betting the run line allows you to bet that the favorite (Yankees) will win by two or more runs or that the underdog (Red Sox) will win outright or lose by one run or less. To bet on either of those outcomes, you have to bet the associated odds. For example, if you wish to bet the Yankees -1.5, you must bet $140 to win $100.
Sports betting odds change when a large amount of money is wagered on one side of a bet.
Sportsbooks bake their cut into the odds on both sides of a bet, and that cut is generally 10%. For sportsbooks to maximize their cut, bets on any line are as close to 50-50 (percent) as possible. If one side of a bet with 80% of the money on it wins, the sportsbook loses.
So, oddsmakers and sportsbooks will move lines to incentivize bettors to take a certain side to balance the book’s bottom line.
For example, if 85% of people are betting on the Ravens +4, the sportsbooks will win if the Ravens “cover the spread” and lose by four or fewer points. Therefore, oddsmakers will often shift the line to Ravens +3.5 or +3 to incentivize bets on the other side, thus making the split more even.
Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners .

Tanner McGrath has been betting daily for almost a decade. During this time, he’s provided gambling analysis and content for outlets such as The Action Network, Pickswise, and The Game Day, working primarily on covering Major League Baseball and College Basketball. He’s a McGill University graduate and former Division-I Alpine Ski Racer (in Canada) who now obsesses over home underdogs and +EV player props.

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.

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Frequently asked questions about sports betting

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New Jersey was one of the first states to legalize sports betting and online wagering after the 2018 Supreme Court decision.

Yes. New Jersey was one of the first states to legalize sports betting and online wagering after the 2018 Supreme Court decision.

Michigan passed legislation to allow sports betting in December 2019 and the first physical sportsbooks opened March 2020.

Yes. Michigan passed legislation to allow sports betting in December 2019 and the first physical sportsbooks opened in March 2020.

New York was one of the first states to legalize sports betting once the PASPA ruling passed the Senate in 2018. Legal online betting began in 2022.

Sports betting is legal in Arizona as of fall 2021.

Yes. Legal online sports betting is legal in the state of Ohio.

Sports betting is legal and regulated in Kansas, and launches in late 2022.

Yes. Sports betting is legal and regulated in Arizona as of football season in 2021.

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Free bets in sports betting are often connected to deposits and are also referred to as bonuses.

Sports betting is legal in Indiana as of 2019.

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Colorado legalized in-person and mobile sports betting November 2019 after a bill was signed by the governor and then approved by voters.

Yes. Colorado legalized in-person and mobile sports betting in November 2019.

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Sports betting spreads, also referred to as lines, are used to even the odds between two unevenly matched teams.
Bookmakers set a spread with the hopes of getting equal action on both sides of a game. For example, the Colts are a -3 point favorite against the Texans. The -3 points is the spread . If you want to bet the Colts on the spread, it would mean the Colts need to win by at least three points for you to win the bet. If the Colts win by two points, you would lose the bet because they didn't hit the key number of three.
The spread at -3 suggests the teams are fairly equal and maybe in this case, the Colts are only -3 because they are playing at home. Bookmakers see these teams as equal and expect to receive fairly even money from bettors. If these teams were widely considered equal and bookmakers put the spread at -10, they wouldn't get equal money as Texans +10 would likely be pounded by bettors.
In a spread bet , the odds are usually set at -110 on both sides , depending on the sportsbook and state. That means whether you bet the Colts -3 or Texans +3, you'll win the same amount of money if you win the bet.
If you like the Colts to win but think three points is a tricky number, a moneyline bet could be made on the winning team with no points in the equation. In the above example, a Colts moneyline bet doesn't have any other requirements other than they win the game. The difference is that their odds may be set at -140 to win. On the other end, the Texans could be +120 to win.
While betting the Colts moneyline leads to a smaller payout, an underdog moneyline bet on the Texans would yield more money because you'd get money on them winning the game straight up. In a spread bet, even if the Texans won straight up, you'd still only win the bet because they lost by less than three points.

How Sports Betting Works, Basics, Odds & Payouts

SportyTell Editors
Updated January 26, 2021
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If you have ever wondered how sports betting works, then you’re in the right place.
We’ll show you everything you need to know about sports betting basics, odds, and even payouts.
Placing wagers might just have started from the first civilization.
Back then, it was called casting lots, and it was more or less a form of gambling.
But you can rest assured that from the very first sporting event, people have been casting lots and placing bets for a long time.
So if you’re curious about it and would like to know how sports betting works, then keep reading.
If you’re at least in your early teens, then chances are you already know what a bet is, and it is very likely that you’ve already won a few stakes yourself, with the loser doing a few of your chores as a result of you being right.
It’s also very likely that you’ve also had to do a few chores too for getting it wrong yourself.
Now that you have a perfect example of what betting is, it’s time to relate those childhood games you used to play to the big multi-billion dollar business that is sports betting.
In Sports Betting, you place a bet on an event, say the Steelers beating the Ravens (this is just an example you can place bets on different sports), and the Steelers actually wins, then you’ve won some money.
But if the Ravens are victorious, then you lose your bet.
For some, sports betting is a way to make money, and others do it for its fun.
It gives them an added reason to enjoy a particular game.
It gets them more involved in a contest in ways they wouldn’t have if they didn’t have some money riding on the outcome of that particular contest.
In sports betting, especially in America, the plus (+)
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