Markets
Point spread
Also called spread, handicap, against the spread, ATS
A margin handicap that makes an uneven matchup close to a coin flip.
The favourite gives points, the underdog receives them. A team at −6.5 must win by seven or more; the other side wins if they lose by six or fewer, or win outright. The half-point exists to prevent a tie.
Because the spread is designed to split the action, both sides are typically priced near −110, and the entire market is a question of whether the number is right rather than who wins.
Spreads land on certain margins far more often than others, especially in football, which is why buying or selling a half point around key numbers costs or saves a disproportionate amount.
Want the full version? Read the in-depth guide, with worked examples and the math.
See also
- Cover — Beating the point spread, as opposed to simply winning the game.
- Key numbers — The margins that occur far more often than others, mainly 3 and 7 in football.
- Hook — The half point attached to a line, as in −7.5 rather than −7.
- Moneyline — A bet on which side wins outright, with no spread involved.
- Push — A tie against the number — the bet is void and your stake is returned.