Glossary
Point spread
A point spread is a handicap that levels an uneven matchup. The favorite is marked down by a number of points and the underdog is spotted the same number. The bet is then about the margin of victory rather than the winner, which is why both sides usually pay a similar price.
A point spread turns a lopsided game into a near coin flip. Instead of asking who wins, it asks whether the favorite wins by enough.
A favorite listed at -6.5 must win by 7 or more for a bet on them to succeed. The underdog at +6.5 succeeds by losing by 6 or fewer, or by winning outright. Beating the spread is called covering.
The half point is called the hook. It exists to remove ties. On a whole-number spread like 6, a favorite winning by exactly 6 produces a push, and stakes are returned. The half point forces every bet to resolve as a clear win or loss.
The deeper walkthrough lives in the guide on how point spreads work.
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