Spread Betting Strategy Explanation

Jesse M. Cox Chief Editor

Fact checked by:
Mike Goodpaster Last Verified
06/08/2024

The Spread Betting Strategy is a popular method in sports betting that involves wagering on the point spread set by sportsbooks to level the playing field between two teams. This strategy is designed to provide balanced odds and more exciting betting opportunities by predicting whether a favorite team will win by more than a specified margin or whether an underdog will lose by less than that margin.

Our Spread Betting Strategy explanation highlights the aim of this approach: to take advantage of the odds and potential value presented by the spread, rather than simply betting on the outright winner of the game. This method requires a good understanding of how spreads work and the factors that influence them, including team performance, player injuries, and public betting trends.

How does the Spread Betting Strategy work?

The Spread Betting Strategy works by leveraging the point spread set by sportsbooks to create balanced odds for both teams in a matchup. The point spread acts as a handicap, giving the underdog a points advantage and the favorite a points deficit. This creates a more level betting field, allowing bettors to wager on the margin of victory or defeat rather than just the outright winner.

Here is a detailed Explanation of the Spread Betting Strategy:

1. Understanding the Spread:
   • The spread is a number set by sportsbooks that indicates the expected margin of victory or defeat.
   • Favorite: The team expected to win is given a negative spread (e.g., -3.5 points). To cover the spread, this team must win by more than the specified margin.
   • Underdog: The team expected to lose is given a positive spread (e.g., +3.5 points). This team covers the spread if they win outright or lose by fewer points than the spread.
2. Placing a Spread Bet:
   • Choosing a Side: Decide whether to bet on the favorite to win by more than the spread or the underdog to lose by less than the spread or win outright.
   • Odds and Payouts: Spread bets typically come with odds around -110, meaning you need to bet $110 to win $100. The odds can vary slightly based on the sportsbook and current betting action.
3. Key Terminology:
   • Covering the Spread: When the team wins by more than the favorite's spread or loses by less than the underdog's spread.
   • The Hook: A half-point added to the spread to avoid ties (e.g., -3.5 instead of -3).
   • Juice/Vig: The commission charged by sportsbooks on bets, usually factored into the odds.

Example of Applying the Spread Betting Strategy

Consider a football game between the Philadelphia Eagles and the Kansas City Chiefs. The sportsbook sets the point spread as follows:

• Betting on the Favorite (Eagles -3.5):
  • If you bet on the Eagles, they must win by at least 4 points for your bet to be successful.
  • Example: If the Eagles win 24-20, they cover the spread, and you win your bet.
  • If the Eagles win 21-20, they fail to cover the spread, and you lose your bet.
• Betting on the Underdog (Chiefs +3.5):
  • If you bet on the Chiefs, they must either win the game outright or lose by no more than 3 points.
  • Example: If the Chiefs lose 24-21, they cover the spread, and you win your bet.
  • If the Chiefs lose 24-20, they fail to cover the spread, and you lose your bet.

This strategy requires careful analysis of team performance, current form, injuries, and other factors that could influence the game's outcome.

Pro’s and Con’s of the Spread Betting System

By weighing these pros and cons, you can better understand the Spread Betting System and determine if it aligns with your betting style and goals.

Spread Betting Strategy Alternatives to Consider

While the Spread Betting Strategy is a popular choice among bettors, there are several alternative strategies that can also be effective in sports betting. Below, we provide explanations of 5 different strategies you should consider to enhance your betting skills:

Parlay Betting

A Parlay Betting System explanation describes a strategy where multiple individual bets are combined into a single wager. To win the parlay bet, every single bet within the parlay must win. Although parlays are riskier due to the higher chance of losing, they offer significantly larger payouts.

For example, combining three bets with odds of -110 each can result in a payout of nearly 6-1. However, if even one of the bets loses, the entire parlay bet is lost. This system can be tempting due to the potential high returns but requires careful consideration of each included bet.

Asian Handicap

To understand how the Asian Handicap System works, it's important to note that this betting style eliminates the possibility of a draw by handicapping the teams based on their perceived strengths. The stronger team receives a goal deficit, while the weaker team gets a goal advantage, which balances the odds to around 50% for each side.

For example, if a team is handicapped by -1.5 goals, they must win by at least 2 goals to cover the bet. This system is popular for its ability to provide better value and more balanced betting opportunities.

System Bets

A System Bets example involves creating multiple combinations of bets from a larger selection of picks. Unlike parlays, system bets allow for some of the individual bets to lose while still securing a return on the overall wager.

For instance, a 2/3 system bet with three individual picks will create three separate bets, and winning two out of three will still result in a payout. This method reduces the risk compared to parlays, offering more flexibility and potential for consistent returns.

Future Betting

Our Future Betting guide explains how this strategy involves placing bets on events that will happen in the future, such as championship winners or season-long performances of teams or players. These bets can offer high payouts due to the long-term nature and inherent uncertainty.

For example, betting on a team to win the World Series before the season starts can yield substantial returns if the team wins. This strategy requires patience and a deep understanding of the sport and teams involved.

Round Robin

The Round Robin Betting strategy is a type of parlay bet that consists of multiple smaller parlays within the larger bet. For instance, a three-team round robin will create three separate two-team parlays.

The benefit of this strategy is that it offers a safety net; if one team loses, you still have the potential to win on the remaining parlays. This system provides a balance between the high-risk, high-reward nature of parlays and the lower risk of single bets.

Conclusion on the Spread Betting Strategy Explanation

In this article, we provided a comprehensive Spread Betting Strategy explanation, covering how the strategy works, its pros and cons, and alternative strategies to consider. The Spread Betting System involves placing bets based on the point spread set by sportsbooks to create balanced odds for both teams. This method offers more engaging and potentially profitable betting opportunities by focusing on the margin of victory or defeat rather than just the outright winner.

We detailed how the strategy works, including understanding the spread, placing spread bets, and key terminology. We illustrated an example to demonstrate the practical application of the strategy.

We discussed the pros and cons of the Spread Betting System. The advantages include balanced odds, increased excitement, more betting opportunities, potential for higher returns, and strategic depth. On the other hand, the complexities of understanding and predicting spreads, the vig/commission charged by sportsbooks, the risk of losing bets, dynamic lines, and the unpredictability of sports outcomes were highlighted as drawbacks.

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