Definition of a Point Spread

In sports such as football and basketball, gamblers have to deal with a point spread when placing a wager on a team. If gamblers had only to choose which team would win and which would lose, it would be much easier to wager on sporting events. A point spread is used to even things up between teams, with one team usually "getting" points if they are an underdog, while the favorite will "give" points.

  1. Football spreads

    • In football, for example, a typical point spread might read as one team favored by six points. In this scenario the favorite must win the game by more than six points for anyone gambling on that club to win their bet. Conversely, the underdog must lose by less than six (or win) for their backers to collect.

    Basketball spreads

    • Basketball is the other sport that sees plenty of action at a sportsbook with regards to betting against a point spread. National Basketball Association and National Collegiate Athletic Association games will see the vast majority of this action, with the college game having the largest spreads as teams are often mismatched.

    Push

    • The term "push" when used in reference to a point spread means that neither team was able to win or to lose by more or less than the spread. An example of a push would be a team being favored by three points in a football game winning by exactly three points. In this case neither side was able to "cover" the spread, meaning nobody that bet on the game wins.

    Ties lose

    • In some gambling establishments, a push can be a desired outcome since nobody betting on that particular game wins money and the house gets to keep all bets. However, the rules must state that a tie loses for this to be the case. Other establishments will refund all wagers in the event of a point spread tie.

    McNeil

    • The point spread was the brainstorm of a math teacher from Connecticut named Charles McNeil. He received a math degree from the University of Chicago and used to avidly attend and bet on Chicago Cubs games while in the city. He devised the idea of a point spread and opened his own sports book. Later, other gambling institutions copied his idea.