One of the more complex wagering terms to understand is the point spread. Technically, the point spread is the difference in point totals (also called the ‘over-under’ or ‘total’ in some areas) between the two teams being played. For example, if the over-under is 49 and the underdog is 36, then you would enter a 49-36 wager. You would win if the 49ers win by more than 2.5 points, otherwise you lose. Let’s go over some terms and how to understand and use the point spread in betting on sports.
The Spread
The spread is the amount of points a team is favored to win by (also called the ‘visiting team’s’ or ‘home team’s’ over-under or total). In the example above, 49 is the spread, meaning the 49ers are favored to win by that many points. When you hear people talking about the spread in sports, it usually means the point total is between two and eight points, although 12 or 13 is becoming more and more common as well.
Underdog
An underdog is a team that people believe will lose, based on some sort of recent performance. When you place a wager on an underdog, you are essentially placing a bet that the team you are backing will lose. An underdog team is sometimes also referred to as a ‘chicken team’ or ‘dog team’ to indicate their poor performance in recent games. The opposite of an underdog is an ‘overdog’ or ‘favorite.’ An example of an underdog team would be the Green Bay Packers, who have not won a Super Bowl in over 40 years, but have attracted a large number of wagering fans due to their recent success in the NFL. Another recent example would be the Philadelphia Eagles, who went from 1-5 to the city of champions, led by the legendary Philly fans who love their football team.
Point Spread
The point spread is a number that indicates the degree of favoritism a particular team or individual is getting at a certain time. It is calculated by taking the point total for that team (visiting team’s over-under or total) and subtracting the opposing team’s point total. In the example above, taking the 49ers’ over-under of 49 and subtracting the Patriots’ over-under of 41 would yield a point spread of +8 in favor of the 49ers. In general, most books will list point spreads for professional sporting events like the Super Bowl, the World Series, and the NBA Finals. You will also see point spreads listed for college football and basketball games as well. Point spreads are also sometimes listed for individual athletes who have a large number of fans betting on their sports, such as Tiger Woods or Jim Carrey. In those cases, the point spread is often used as an indication of whether or not that particular athlete will win or lose a particular sporting event. In general, point spreads are usually within a couple of points, and are rarely anything more than a half point or less.
Over-Under
An over-under is simply the sum of the number of points placed on one side of the bet (usually the underdog’s side). For example, if someone places a bet on the 49ers to cover the 49 point spread outlined above, he or she is placing an over-under bet of 49 points. Similarly, if one bets $100 that the underdogs will lose by more than 2.5 points, one is placing an over-under bet on the underdogs of 2.5 points. You win an over-under bet if the total points scored by both teams are equal, otherwise you lose. When you are placing an over-under bet, you are essentially placing a bet that the total number of points scored by both sides will be close to the spread point total. In most cases, over-unders will be listed for major sports leagues like the NFL and NBA, and for college football and basketball as well. Just remember that the total number of points scored by both teams in a game can vary between 40 and 60, so make sure you are aware of what the total points will be before placing your over-under bet!
Point Totals
The point totals are the final score of the game, and are usually the result of a score by score comparison between the two teams. For example, if the 49ers win the game 23-3, their point total would be 23 and the Patriots’ point total would be 3. The point totals are usually the best indicator of how the game was actually played, since human errors tend to be eliminated from the equation. Point totals are usually determined at the end of the game, and are therefore subject to change as the game continues.
Over/Under Betting
An over-under bet is one where you place a wager that one team will score more points than another team. For example, if the 49ers are favored to beat the Patriots by 7 points, one would place an over-under bet of 7 points on that game. If the over-under is listed as 19.5 – 17.5, one would win an over-under bet if the 49ers score at least 19.5 points and the Patriots score at least 17.5 points. If the 49ers score 19 points and the Patriots score 17 points, one would win, but if the 49ers score 17 points and the Patriots score 19 points, one would lose the bet. In general, over-unders are used to determine the outcome of NFL games when the spread is less than 7 points. The opposite of an over-under bet is a ‘straight bet,’ which is a wager where you are choosing one team over another. Examples of straight bets would be the Green Bay Packers over the Cleveland Browns or the Falcons over the Saints.
The ‘Over’
An over is the amount of points that one team is favored to win by (usually the favorite’s). When you hear someone shouting ‘over!’ during a sports game, it usually means they are placing an over bet, although that is not always the case. An example of an over bet would be the 49ers +7 points win over the Patriots in the example above. In general, most books will list overs for major sports leagues like the NFL, NCAA football, and the NBA. Overs are also listed for college football and basketball games as well as for individual athletes who have a large number of fans betting on their sports, such as Tiger Woods or Jim Carrey. As noted above, the total number of points scored by both teams in a game can vary between 40 and 60, so make sure you are aware of what the total number of points will be before placing your over bet!
The ‘Under’
An under is the amount of points a team is favored to lose by (usually the underdog’s). When you hear someone shout ‘under!’ during a sports game, it usually means they are placing an under bet, although that is not always the case. An example of an under bet would be the Eagles –2 points win over the Patriots in the example above. In general, most books will list under for major sports leagues like the NFL, NCAA football, and the NBA. Under bets are also listed for college football and basketball games as well as for individual athletes who have a large number of fans betting on their sports, such as Tiger Woods or Jim Carrey. Just remember that the total number of points scored by both teams in a game can vary between 40 and 60, so make sure you are aware of what the total points will be before placing your under bet!