Point spread
A handicap that adds or subtracts points or goals from one side so both outcomes are priced close to even.
A point spread evens out a mismatch by giving the underdog a head start. The favourite is listed with a minus number and must win by more than that margin; the underdog carries the same number with a plus sign and covers if it wins or loses by less. Football and basketball spreads run to several points. In hockey the main spread is the puck line at 1.5 goals, but books also post alternate spreads at 2.5 goals and beyond.
Half points and pushes
A spread ending in .5 can never land exactly, so every bet is either a win or a loss. A whole-number spread can: if the margin equals the spread, the result is a push and the stake is refunded, the same way a void bet is handled.
Worked example
An NHL alternate spread: Vegas -2.5 goals at +240 (illustrative).
- $25 on Vegas -2.5 wins only on a margin of three goals or more. A 5-2 win pays $25 × 2.40 = $60 profit, $85 back.
- A 4-2 win loses.
If the same book offered Vegas -2 at +190 instead, a 4-2 win would be a push and you would get your $25 back, while 5-2 would pay $25 × 1.90 = $47.50 profit.
What to check
Spreads on big favourites can carry a higher vig than the main line. Convert the price to implied probability before deciding whether an alternate line is worth it.