In American football and basketball, the point spread is a foundational betting market designed to balance a contest between two teams. Rather than simply selecting which side will win the game outright, spread betting requires participants to account for the margin of victory set by bookmakers.
Each matchup features an assigned favorite and an underdog. The favorite is designated with a minus sign, indicating the number of points they must win by to cover the spread. Conversely, the underdog is marked with a plus sign, meaning they cover if they win the game outright or lose by a margin smaller than the listed number.
Outcomes are settled once the final score is established. If the margin of victory matches the posted spread exactly, the wager results in a push, and all stakes are refunded. To eliminate the possibility of a push, sportsbooks frequently set spreads that include half-point fractions.
While the mechanics are identical across both sports, the strategic context varies with how each game is scored. Football spreads frequently revolve around key numbers tied to field goals and touchdowns, whereas basketball spreads reflect the fluid, possession-by-possession scoring runs inherent to the court.