Point Spread Bet

What a Point Spread Is

A point spread is a handicap the sportsbook adds to or subtracts from a team's actual score to make the bet roughly 50/50. The favorite is listed with a minus sign (–7 means they must win by more than 7 to "cover"); the underdog is listed with a plus sign (+7 means they can lose by up to 6 and still cover, or win outright). Spreads are quoted at standard –110 odds on both sides, meaning you risk $110 to win $100 either way.

Vermont Example; Patriots vs Bills

The New England Patriots host the Buffalo Bills:

• Patriots: +6.5 (–110)
• Bills: –6.5 (–110)

To win the Patriots +6.5 ticket, New England can win outright or lose by 6 or fewer. To win the Bills –6.5 ticket, Buffalo must win by 7 or more. A final score of Bills 27 – Patriots 23 (4-point Bills win) covers the Patriots; Bills 31 – Patriots 14 covers the Bills.

Why –110?

At –110 on both sides, the sportsbook collects $10 in vig per $100 of action on the side that loses. Over a balanced book, that 4.55% house edge funds the operator. Some sharper operators or special promotions price spreads at –105 or even –102; meaningful in the long run because lower vig means more of your winnings stay with you.

Whole-Number Spreads & Pushes

If the spread is a whole number (–7 instead of –6.5) and the final margin lands exactly on it (Bills win by exactly 7), the bet is a "push." Your stake is refunded, but you win nothing. That's why most spreads include a half-point; to eliminate the possibility of a push and force a clear winner.

Alternate Spreads

VT operators let you "buy points" or "sell points"; adjusting the spread in your favor (at worse odds) or against you (at better odds). Buying the Patriots from +6.5 to +7.5 might cost you –125 instead of –110; selling them down to +5.5 might pay +105. These are useful when the spread sits on a "key number" (3, 7, 10 in NFL; the most common winning margins).

Operator Notes for Vermont

All three Vermont operators post spreads on every major sport. FanDuel and DraftKings typically post similar prices, sometimes a half-point apart. Fanatics is sometimes the outlier; a sharper Patriots line by a half-point can mean meaningful EV. Always check all three before placing the bet.

When to Use a Spread

• You think a heavy favorite is overvalued and the underdog will keep it close
• You want roughly even-money payouts (the simplicity of moneyline at a heavy favorite often pays too little to be interesting)
• You're building a parlay where each leg needs to "cover," not just win