Just what exactly does the point spread mean?

Recreational or first-time bettors are often intimidated by the numbers and symbols that dot the list of odds. What does the +6.5 mean in the point spread? And what is -230 in baseball or hockey odds?

These are common questions whose answers can be distilled down to some fairly simple math. Let’s give it a try now.

The Point Spread

You look at the NFL odds for the week and see the point spread in the New England vs. Dallas game. It shows:

New England    -4.5, -110

Dallas               +4.5, -110

For starters, the favorite team is designed with the minus (-) value, so the Patriots are favored by 4.5 points in this game, while the underdog is designated with a plus (+) value. The Cowboys are 4.5 point underdogs. (We’ll get that pesky -110 value in a second).

So, if you think the Patriots will win the game by 5 points or more, then you can wager on them. If they win the game 30-24, then they win by 6 points and have covered the 4.5-point spread.

If they win 30-27, then they win by 3 points and have NOT covered the 4.5-point spread.

For the math-challenged out there (like me), simply take the final score and either subtract the favorite value from their total or add the underdog total to their score to see who has more points.

In the 30-24 example:

New England 30 – 4.5 = 25.5

That is still more than the 24 points scored by Dallas, so they win ATS.

In the 30-27 example:

New England 30 – 4.5 = 25.5

That is less than the 27 points scored by Dallas, so they lose ATS. That’s right, you can win the game straight-up (SU) but lose it against the spread (ATS). That’s how those sportsbooks in Vegas can afford all those cushy chairs, free drinks and mega big-screen TVs.

On the flip side, you can do the math for Dallas as well.

New England 30

Dallas 24 + 4.5 = 28.5 (so they lose the game SU as well as ATS)

New England 30

Dallas 27 + 4.5 = 31.5 (so they lose the game SU, but win ATS)

It’s a little like two young brothers playing one-on-one basketball. Brother No. 1 is 15 years old and Brother No. 2 is 12 years old. Brother No. 1 spots the little brother 5 points to give him a head start to 10. Because Brother No. 1 is older and better (and favored), he starts the game -5 points.

Now to that pesky -110 value. Traditionally, bettors must pay a 10-per-cent commission (also known as ‘juice’ or ‘vig’ to the sportsbook). This is the sportsbook’s fee for brokering the bet. So -110 means you must wager $110 to win $100.

At some sportsbooks, they reduce the juice, which means you can enjoy the same $100 payout but risk less money. For example, if you see -4.5, -107, then you only need to wager $107 to win $100 (a saving of $3). If you see -4.5, -102, then you only need to wager $102 to win $100. It is known as price shopping – essentially allowing you to get your product (the bet on the Patriots to win) at a cheaper price.

If you win your bet, you get your $110 back plus the $100 you won.

If you lose your bet, you lose the $110, lick your wounds and see if you have better luck next time.

Totals or Over/Under betting

People are sometimes confused by totals betting (also known as over under betting), but it is simpler than betting point spreads, which is also known as betting ‘sides’ (picking which ‘side’ of the game will win).

On the same New England vs. Dallas game, you will see a 55.5 listed. This is the total. You wager whether the total score of the game will be more than or less than 55.5. In the 30-24 example, the score equals 54 points which is UNDER 55.5. In the 30-27 example, the score equals 57 which is OVER 55.5.

You may also see a small wrinkle in the total where it looks like this:

55.5 o -110

55.5 u +105

In this instance, the total remains at 55.5, but the amount of ‘juice’ or ‘vig’ you must risk differs. In order to wager the OVER, you must risk $110 to win $100. In order to wager the UNDER, you risk $100 to win $105. This is slightly confusing at this point, but read on because the discussion of moneyline betting helps to make this perfectly clear.

Moneyline betting

Moneyline betting is available in most sports, but is most commonly viewed in baseball and hockey betting. Since scoring is much less than basketball or football, the point spread is replaced as the betting measuring stick by the moneyline.

You will see something like this:

Boston             -135

New York        +125

Just like the minus and plus values on the point spread, those values continue to designate underdogs and favorites. In this case, Boston is favored (-135) and the Yankees are dogs (+125).

For moneyline betting, it is easiest to imagine that $100 sits in the middle of the two values.

+125    +100    -135

Because Boston is favored (and should therefore be a better bet to win), the sportsbook wants you to risk more. You must risk $135 (-135) in order to win $100.

On the flip side, the sportsbook wants to have some Yankee fans or Red Sox haters betting the game too so they give them a bonus or incentive to bet the underdog Yanks.

You risk $100 in order to win $125 (+125) on the Yankees.

After you have learned the basics of the point spread and how to beat it, you can turn to where to bet and sign up for the exclusive PointSpread.com Top 10 Steps to Becoming a Successful Sports Bettor program.

Good luck. And play with your head, not over your head.