Key Takeaways

• Point spread betting focuses on a team’s margin of victory rather than which team wins
• A favorite must win by more than the posted spread, while an underdog can cover by winning outright or staying within the margin
• Football and basketball use point spreads, baseball uses run lines, and hockey uses puck lines
• No approach can guarantee a winning point spread wager, so set personal limits and never wager more than you can afford to lose

Point spread betting is a wager on the margin of victory in a game, not on which team wins. The favorite appears with a negative number and the underdog appears with a positive number. A wager on the favorite wins only if that team exceeds the posted margin. A wager on the underdog can win if that team wins outright or stays within the spread.

This guide explains how point spreads work, how to read favorites and underdogs, how spread betting compares with other common wager types, and what to review before placing a point spread wager.

What Is Point Spread Betting?

Point spread betting asks whether a team will finish above or below a margin set by a licensed sportsbook like Caesars Sportsbook. The favorite appears with a minus (-) sign and must win by more than the posted spread for that wager to win. The underdog appears with a plus (+) sign and can cover by winning outright or losing by fewer points than the spread.

The point spread creates a margin for both sides of a matchup, while the odds shown beside the spread determine the potential return. The spread and its price are separate parts of the wager, so bettors should review both before confirming a selection.

Example: Team A is -7, so a wager on Team A wins if Team A wins by 8 points or more. A wager on Team B wins if Team B wins the game outright or loses by 6 points or less. If Team A wins by exactly 7 points, the result is called a push.

Why Point Spreads Can Change

Sportsbooks set an opening point spread based on the expected difference between the teams. The number can change as new information becomes available before the game.

Factors like injuries, lineup changes, rest, weather, and new matchup information can affect a point spread. The available spread and odds may change before a wager is accepted, so bettors should review the current number on the bet slip.

The spread attached to an accepted wager generally doesn’t change afterward, even if the publicly available spread moves. For example, a spread accepted earlier in the week may differ from the spread offered closer to game time.

How to Read a Point Spread: Favorites, Underdogs, and Odds

A point spread listing shows the margin and the odds attached to each available side. The favorite appears with a minus (-) sign, and the underdog appears with a plus (+) sign. The spread shows the required margin, and the odds determine the potential return.

Favorites and the Minus Sign

A favorite must win by more than the posted spread for a wager on that team to pay out. If the favorite is listed at -3.5, the team must win by 4 points or more. A 3-point win means the favorite won the game but didn’t cover the spread.

Underdogs and the Plus Sign

An underdog receives the posted number of points for wagering purposes. An underdog listed at +3.5 covers by winning the game outright or losing by 3 points or less. The actual game result doesn’t change, but the spread determines whether the wager wins.

Covering the Spread and the Push

Covering the spread means finishing on the winning side of the posted margin. If a favorite is listed at -7 and wins by exactly 7 points, the wager is a push, and the original wager amount is returned. A half-point spread, like -7.5, prevents the final margin from landing exactly on the spread.

Point Spread Betting vs. Other Bet Types

Point spread betting focuses on the margin of victory. A moneyline focuses only on which team wins, while a total focuses on the combined score at the end of the game. A parlay combines multiple selections into one wager, and every included leg must win for the parlay to pay out.

Point Spread vs. Moneyline

A moneyline wager asks only which team will win the game, while a point spread wager also considers the margin of victory. A favored team may offer a smaller potential return on the moneyline because it doesn’t need to cover a spread.

Point Spread vs. Totals (Over/Under)

A totals wager focuses on whether the teams’ combined score will finish above or below a number set by the sportsbook. It doesn’t require the bettor to choose the winning team. Available combinations involving spreads and totals depend on the sportsbook’s current wagering menu.

Point Spread vs. Parlay Betting

A parlay combines 2 or more eligible selections into one wager, which may include point spreads, moneylines, or totals. Every leg must win for the parlay to pay out. Adding selections can increase the potential payout, but one losing leg can cause the entire parlay to lose.

Point Spread Examples in Different Sports

Point spread formats vary by sport. Football and basketball commonly use spreads that change by matchup, while baseball commonly uses a run line and hockey commonly uses a puck line.

NFL and NBA Point Spreads

Football and basketball point spreads vary by matchup. A close game may have a small spread, while a matchup with a stronger favorite may have a larger one.

MLB Run Line

Baseball commonly uses a run line instead of a traditional point spread. A favorite listed at -1.5 must win by 2 runs or more for that wager to win. An underdog listed at +1.5 can cover by winning the game or losing by 1 run.

NHL Puck Line

Hockey commonly uses a puck line. A favorite listed at -1.5 must win by 2 goals or more for that wager to win. An underdog listed at +1.5 can cover by winning the game or losing by 1 goal.

Half-Point Spreads and the Hook

A half-point spread prevents the final margin from landing exactly on the posted number. For example, a -3.5 spread can’t result in a push because a team can’t win by half a point. This extra half point is called “the hook.”

How to Bet the Spread on Caesars Sportsbook: Step-by-Step

The Caesars Sportsbook bet slip shows the selected team, spread, odds, wager amount, and potential payout before a wager is confirmed. Market labels can vary by sport, so review every field carefully before submitting a bet.

• Sign in to an eligible Caesars Sportsbook account and select the game you want to review
• Choose the favorite’s negative spread or the underdog’s positive spread to add that selection to the bet slip
• Review the selected team, spread, odds, wager amount, and potential payout
• Enter the amount you want to wager and review the complete bet slip again
• Confirm the wager only if every displayed detail is correct

Must be 21+ to wager. Know When To Stop Before You Start®. Gambling Problem? Call 1-800-GAMBLER. MA: Call 1-800-327-5050. NY: Call 877-8-HOPENY or text HOPENY (467369).

What to Consider Before Placing a Point Spread Bet

A point spread wager depends on whether the selected team finishes on the winning side of the posted margin. Before placing a wager, bettors should understand how the spread and odds affect the potential result. No approach can guarantee a win or profit.

• Understand the financial risk: Every point spread wager carries the risk of losing the wager amount. Set a spending limit in advance, and never wager more than you can afford to lose
• Use team and matchup information as context: Home-field advantage, injuries, recent performance, and matchup history may help explain a matchup, but none can predict or guarantee the outcome
• Review the full wager before placing it: Point spreads and odds can change over time, so confirm the selected team, spread, odds, wager amount, and potential payout before submitting the wager
• Set personal limits: Deposit, spending, and time limits can help bettors stay within a predetermined entertainment budget, while cool-off and self-exclusion tools provide additional options for managing play

Point Spread Features on Caesars Sportsbook

Available Caesars Sportsbook game listings may show point spreads, moneylines, and totals together for comparison. The bet slip then displays the selected market, odds, wager amount, and potential payout before confirmation. Eligible sportsbook activity may also earn Reward Credits under current Caesars Rewards rules.

• Caesars Rewards: Eligible Caesars Sportsbook activity may earn Reward Credits under current program rules
• Bet Slip Review: The bet slip displays the selected spread, odds, wager amount, and potential payout before confirmation
• Available Markets: Eligible point spread selections may be available as individual wagers or as part of an available parlay
• Location and Eligibility: Caesars Sportsbook availability varies by jurisdiction, and mobile users must be 21+ and physically located in an eligible jurisdiction when placing a wager

Must be 21+ to wager. Know When To Stop Before You Start®. Gambling Problem? Call 1-800-GAMBLER. MA: Call 1-800-327-5050. NY: Call 877-8-HOPENY or text HOPENY (467369).