Spread Betting Explained

Understanding spread betting

Spread betting is one of the most popular bets. You might have heard the phrase “covering the spread” - that’s what we’re talking about here. But what does that mean, and how does it work?

In games where one team is favored to win, sportsbooks apply a spread to balance the odds. Think of it as an equalizer that makes the matchup feel more even and closer to a 50/50 chance of either team to win.

Why do sportsbooks use spreads, you might ask? And the answer is that the spread helps level the playing field between teams of varying skill levels, making betting on either side more attractive. 

In other words, spread betting levels the playing field, making games with strong favorites more competitive for bettors.

Spreads are a bit confusing - we get it. A common question (so common, in fact, that someone asked that in our own forum) is about the minus sign: What does a spread of -7 mean? 

A betting spread of -7 means the favored team (indicated by the negative number) must win the game by more than 7 points. It's essentially a handicap imposed by one of the teams.

If the team wins by exactly 7 points, the bet is a "push"; If they win by fewer than 7 points or lose the game outright, you'll lose your bet. 

What does "covering the spread" mean?

When you bet on the favorite, they need to win by more points than the spread for you to win the bet—this is called covering the spread. 

On the flip side, if you bet on the underdog, they don’t have to win the game outright—they just need to avoid losing by more than the spread.

Let’s break it down with an example:

The Knicks are playing the first-place Boston Celtics. The spread is set at Celtics -5.5. 

Here’s what needs to happen for you to win your bet:

• Betting on the Celtics -5.5: Boston must win by 6 or more points. If they win by fewer than 6 points, or lose the game outright, the bet loses.
• Betting on the Knicks +5.5: New York can win the game outright, or they can lose—but by 5 points or fewer.

Example scenario:

If the Celtics win the game 111-108, they win by 3 points. In this case:

• A bet on the Celtics -5.5 loses because they didn’t win by enough to cover the spread.
• A bet on the Knicks +5.5 wins because New York lost by fewer than 6 points.

Here is how spreads are presented at Fanduel. This is for a game in the NHL:

To cover the spread, the Maple Leafs (here the favorites as indicated by the -1.5) must win by 2 or more goals to cover the spread; The Panthers (+1.5) can either win the game outright or lose by 1 goal to cover the spread.

Get it? If not, ask us in the forum and we're happy to give more examples and help you understand about the ins and outs of spread betting. 

Ready to learn more?

Spread betting might seem a little tricky at first, but once you understand the basics, it’s simple and fun. 

Make sure to check out our other guides to learn more about different types of bets. And don’t forget to join our community for more betting insights and to connect with others who share your passion for sports betting!