Spread

Spread

Also known as: point spread, line, handicap

A handicap applied to a favored team's final score to balance both sides at approximately 50/50. Lakers -3.5 means Lakers must win by 4+ to cover; Celtics +3.5 wins if Lakers win by 3 or fewer (or lose).

A point spread (or handicap) adds points to the underdog's score (or subtracts from the favorite's) so that both sides become roughly equal-probability bets. The price is then typically -110 / -110 for both sides, reflecting the vig.

If the actual margin lands exactly on the spread, the bet is a "push" and your stake is returned (no win, no loss).

Half-point spreads (-3.5 instead of -3) eliminate the possibility of a push and are most common. Whole-point spreads can push, so books sometimes price them slightly differently.

For NFL the most common spreads are 3 and 7 (field goal and touchdown margins). Books pay close attention to these because games land exactly on these numbers more often than other margins, and being on the wrong side of a "key number" can be expensive.

SportsBookISH tracks spreads on Kalshi where they exist (mostly NBA + MLB run lines), plus full book consensus across DraftKings, FanDuel, BetMGM, Caesars and 10+ others.

Worked example

Lakers -3.5 (-110) vs Celtics +3.5 (-110). Lakers must win by 4 or more to cover. Equivalent Kalshi market: "Lakers win by 4+" trading near 52¢ (because the side has small implicit edge once vig is removed).

Related terms