Point Spread Betting

Betting on sports using point spread is extremely popular as it balances the odds for both sides. Point spreads compel favorites to give a certain number of points and underdogs to receive them when determining the winner of a bet.

This method successfully allows sportsbooks to balance the winning odds of two teams and attempt to attract an equal amount of betting on both sides. Almost every major professional and college sport has point spreads posted by Indiana online sportsbooks.

Bets on point spreads are placed at the currently listed moneyline odds, which are typically nearly even for both teams. This method effectively reduces the risk of betting on favorites and boosts the chances of an underdog winning compared to regular moneyline betting.

This page provides a comprehensive guide to point spread betting, which includes:

• First-time guide on betting point spreads
• Instructions for Reading Point Spreads
• How do point spreads vary between different sports?
• Who sets the spread
• Reasons to favor point spreads over other types of bets
• How to prevent committing the most significant point spread betting errors

Point spreads at all sportsbooks in Indiana currently

Point spreads are predominantly used in football and basketball betting, but can be found in most sports. The feed below provides the latest point spreads from leading Indiana online sportsbooks for future games. Click on any odds to navigate to the online sportsbook, claim your bonus or bonus bets, and set up a new account.

Can you explain what a point spread is?

A point spread bet is a type of wager where you “lay” or “take” points from a line established by oddsmakers to determine the victor of the bet. This requires subtracting the spread number from the score of the favored team, or adding it to the underdog’s score, in order to establish the winning side of the bet.

Example: The point spread for the match between the Chicago Bears and the Pittsburgh Steelers is -7 in favor of the Bears. This implies that in order to decide the winner of a spread bet, you should subtract seven points from the final score of the Bears.

If the Bears secure a 27-19 victory, they win with an eight-point lead and manage to “cover the spread.” This means that a spread bet placed on the Bears at -7 would be successful. However, if the Steelers win the game outright or the Bears only manage to win by six points or less, then the Steelers cover the spread. This would mean that spread bets placed on the Steelers +7 would be winning bets.

Ultimately, if the Bears secure a win by precisely seven points, it results in a push and all bets are refunded.

What does +/- mean in point spread betting?

Point spreads are denoted by either positive or negative figures. A plus sign precedes the spread for underdogs, instructing you to add the points to the team’s final score to ascertain the victor in betting.

If the spread is listed as +3.5, you need to add 3.5 points to the team’s final score to establish the winner in betting. Consequently, the underdog can either win outright or lose by no more than three points to win against the spread, which is also referred to as covering.

On the other hand, the minus sign in front of the spread for favorites indicates that you should subtract the points from the team’s final score to determine the winner in betting.

If the spread is indicated as -4, subtract four points from the team’s ending score to identify the betting victor. To put it another way, the favored team needs to score at least five points more than the opposing team to beat the spread or cover.

If the victory margin is precisely four, it would result in a tie, and all bets would be refunded.

How much does a point spread bet pay off?

You place point spread bets at the current moneyline odds for each side, meaning you receive payouts at these rates if your side emerges victorious. The odds for point spread are typically set at -110 for each side, but these prices can fluctuate depending on the amount wagered on a specific team.

Sportsbooks achieve a standard house edge, or vig, on all spread bets at -110. This is under the assumption that betting is equally distributed on both sides. If one side sees more betting, they adjust either the odds or the spread itself to restore balance.

As a gambler, odds of -110 indicate that you need to bet $110 to receive $100 in addition to the return of your original bet. Provided that the betting is balanced on both sides, the sportsbook will earn $110 for every $100 it disburses under -110 odds, retaining the surplus as its profit.

How much should you wager on a point spread bet?

We are unable to advise you on the amount you should wager on point spreads. Ultimately, it’s a personal choice.

Nonetheless, we advise you to make such decisions considering your personal finances. Only gamble with surplus income and never risk more money than you can realistically bear to lose.

You should establish a gambling budget for yourself, ensuring that it’s an amount of money you won’t regret losing.

Next, attempt to restrict your betting to only 1% of your total bankroll for each individual bet. Or, establish a unit amount equivalent to 1% of your bankroll and gamble between one to five units on any point spread bet, depending on your confidence level in each bet.

This implies placing a single unit bet when you’re fairly confident that the Green Bay Packers can cover at -7 over the Dallas Cowboys, and a five unit bet when you’re nearly certain that the Kansas City Chiefs will cover at -3.5 over the Denver Broncos.

Keep in mind that oddsmakers often accurately set spreads. Only bet against the spread when your comprehensive research suggests they may have made a mistake.

Even so, it’s wise to be cautious about risking a large portion of your total bankroll or putting all your eggs in one basket. Only a small percentage should be risked.

Why do the point spreads in baseball and hockey closely resemble each other?

In sports where scoring is typically low, a standard point spread is usually set for almost every game. Rather than altering the spread, the odds are modified depending on each team’s likelihood of covering the spread.

In NHL betting, it is referred to as the puck line, while in MLB betting, it’s known as the run line. These standard betting lines are usually established at 1.5 goals or runs with the moneyline odds varying.

The key distinction between this and traditional point spread betting is that the puck and run lines seldom shift — only the odds do. Naturally, you also have the option to wager on alternative puck and run lines with either increased or decreased moneyline odds.

In-game point spreads

Betting during the game, also known as “live” betting, might be the most thrilling way to wager on sports. It’s definitely the quickest. This entails placing bets on games while they are in progress with odds that are continuously fluctuating.

Most games on Indiana online sportsbooks have full game, quarter, and half in-game point spreads posted. These lines are adjusted according to live scoring and the amount of time left.

You must place a bet before the action changes the line again, which makes mobile sportsbook apps the ideal option for live betting.

Check out our compilation of the top sportsbook apps in Indiana.

Why should you choose to bet the point spread instead of moneylines, totals, or props?

The primary advantage of betting on point spreads over other bets is that the spread levels the odds.

Wagering against the spread implies that you don’t need to risk a large sum for a minimal return when betting favorites. Furthermore, the spread provides underdogs with a feasible opportunity to become a successful bet, even if their chances of winning the game are low.

Bear in mind, oddsmakers specialize in setting spreads and are highly skilled at it. Conduct thorough research prior to placing a point spread bet.

Explanation of Point Spread and Odds Movements

Sportsbooks adjust their point spreads to draw more money toward the side with fewer bets. Continue reading to understand why and how this strategy is effective.

What does ‘against the spread’ mean?

Placing a point spread bet is simply another term for betting ‘against the spread’.

Regardless of which team you wager on, you’re ‘betting against the spread’. This means you’re placing a bet that the favored team or the underdog will ‘cover the spread’.

Favorites beat the spread when their winning margin exceeds the spread set by the bookmakers. Underdogs beat the spread when they either win outright or their losing margin is smaller than the spread.

What does ‘public betting’ mean?

‘Public betting’ refers to the side of a point spread bet where the majority of the money is being placed.

Why does the point spread move/change?

The spread for a game might be altered by sportsbooks based on factors such as injuries to important players, changes in the roster, or even weather reports that could affect scoring.

The spread for a game may also be altered when more money is bet on one side than the other.

Sportsbooks establish spreads with the intention of attracting balanced betting on both sides, to guarantee their vig, and to ensure they are not overly concerned about the actual result of the bet. If one side receives more bets, they will adjust the line to restore balance.

Only at sportsbooks that witness more money wagered on one side or the other does this type of line movement occur.

This is why a local Indiana sportsbook might initially have the same point spread for an Indianapolis Colts game as a Vegas sportsbook, but have a different one by the time of kickoff.

How are NFL/NBA/NCAA point spreads set?

Oddsmakers take into account various factors when setting point spreads for NBA, NFL, and other sports betting. This process starts with a comprehensive analysis of the recent and historical performance, scoring, and defensive averages of the two teams involved.

Next, they take into account injury reports, historical matchup data, and the potential influence of weather and scheduling on the game’s scoring. Lastly, they carefully observe the lines set by other sportsbooks and make necessary adjustments.

Three major mistakes in point spread betting

When betting against the spread, try to avoid these three mistakes:

1. Placing too many bets is not necessary just because sportsbooks provide a spread for all games. Your aim should be to thoroughly research each game, pinpoint instances where the spread may have been set too high or too low by the oddsmakers, and capitalize on these opportunities.
2. Considering the home field advantage excessively or insufficiently can be a mistake. Oddsmakers already incorporate the home field advantage into the spread, so you need to determine how much importance to assign it. By examining the home and away records of the participating teams, you can prevent the error of overestimating or underestimating the home field advantage.
3. Speculating. Sports wagering isn’t about mere speculation. Betting against the spread necessitates thorough investigation. Convert your speculations into well-informed predictions and knowledgeable selections by thoroughly doing your research.

Extra point spread FAQs

When was the first point spread offered at a sportsbook?

Charles K. McNeil, a math teacher from Connecticut who became a sportsbook operator in Chicago, invented point spread betting. In the 1940s, he began offering point spread bets as a strategy to draw bets to both sides of a competition and ensure a steady vig.

Why are college point spreads so much bigger than pro point spreads?

The disparity between perennial favorites and underdogs leads to larger point spreads in college basketball and football betting. This is due to the significant difference between the ‘haves’ and ‘have-nots’ in the college ranks, while there is more balance in most professional sports.

How accurate do point spreads end up being?

Oddsmakers have an impressive accuracy when establishing most point spreads. Therefore, it’s crucial to be choosy about the amount of point spread bets you place. Make sure you’re only wagering against the spread according to your research on a game and the precision of oddsmakers in determining a line.

How much extra work goes into setting the Super Bowl point spread?

Oddsmakers determine the point spread for the Super Bowl, like any other game, by considering a variety of different factors.

This encompasses recent and historical team results, average scores, injury reports, historical matchup information, and the potential effect of weather on scoring. They also scrutinize the positioning of other sportsbooks.

Since NFL oddsmakers only have to concentrate on these two teams and one game, their accuracy has been demonstrated to be higher than usual.