Tired of making the standard money line bets and getting unsatisfying returns? Welcome to the world of point spread betting!
Although this type of wagering is a tad more complicated, many Canadian punters deem point spread bets the best option to make some fast cash.
Table of Contents
Competitive sports are the most beneficial. Hence, basketball and football (specifically NFL) are most often associated with point spreads.
The main goal of the oddsmakers is to even out the playfield and provide equal disadvantages to both teams. Keep reading to find out everything there is to know regarding point spread wagers: what exactly are they, where to find them, how to place them and so on.
Best Sportsbooks For Spread Betting In Canada
Before you start placing point spreads, you need to choose a sportsbook. To make sure you are playing at a reputable and secure online sportsbook, our team of professionals thoroughly examines and assesses each one before recommending it. Every site we suggest is rated at least 3.5-5, so you know you’ll have a wonderful time point spread betting there. Here’s our list of top Canadian sportsbooks for spread betting.
- BetVictor – This is a well-known name in the sports point spread betting industry. The company’s name has changed several times, but its roots date to 1946, when it started in London as a family-run business. It first went online in 2000, offering a complete sportsbook and casino games as well as other extras, like free bets. At this point, BetVictor Sports is a top-tier European sports betting site, including markets for almost every major sports event.
- Sports Interaction – Launched back in 1997, Sports Interaction, or SIA, is one of the greatest Canadian bookmakers for online point spread betting. It offers comprehensive coverage of sports, accurate betting odds, and safe banking together with friendly customer service and great promotional offers. Sports Interaction is a sportsbook that deserves your consideration.
- Betway – This has been the most significant competitor in the wagering industry since 2006. Betway is a well-known brand all over the globe, and it welcomes consumers from all over the world. In addition to offering some of the biggest bonuses available, it also has some of the most competitive point spread lines for prominent sporting events.
Each one of our recommendations is a superb sportsbook platform that offers competitive point spread betting odds. Given their experience in the market, you can rest assured your data and money will be safe while gambling online.
What Is A Point Spread Bet
When it comes to the basics, point spread bets simply represent straight game bettings on which team will come out on top, mainly in a low scoring sports event. You’re not betting on who will win or lose with point spread bets, but on how much.
It’s the same with betting on the moneyline and point totals: success depends on various circumstances. For starters, you need to do an in-depth study of the relevant events. The first step is, of course, to place your wager. The importance of timing cannot be overstated. This is true not just for placing your wagers but also for cashing out.
Spread bets may be placed on their own or as a combination with other forms of wagers.
What Are The Odds For A Point Spread?
A -110 point spread betting line is the most popular wager, depending on your perspective. To the sportsbook, punters would pay a 10 percent commission as reimbursement for brokering the bet. It is possible to get the same CA$100 payoff while putting less money on the line at particular sportsbooks.
As a result, a -110 bet means a gambler must stake CA$110 to profit CA$100. It is possible to receive the same CA$100 payoff but risk less money if you take advantage of bookmakers that cut the juice for your benefit.
How Betting Odds Work
Fractional (British) odds, decimal (European) odds, and moneyline (American) odds are the three primary forms of betting sports odds. There is no difference in payments between these methods of providing the same item. They can all be converted one into another, meaning the probability of the event happening stays the same no matter the type.
Odds are the ratio of the stakes made by the participants in a wager or bet to the total amount placed. To put it another way, if the odds are 3 to 1, it means the bookmaker will wager three times what the bettor will bet.
The expected result of the game is used to assign a point spread. But you are all here to learn how the point spread odds work, so here is a real example. Let’s consider the Super Bowl match between the Tampa Bay Buccaneers and Kansas City Chiefs from last season. The betting public had the Chiefs as favourites, making the Buccaneers the underdogs. With a negative sign 3 point lead, the Chiefs went into the game as heavy favourites.
Tampa Bay Buccaneers +3
Kansas City Chiefs -3
The two teams were separated by three points, with the Chiefs as the favourite ‘giving’ three points and the Buccaneers ‘receiving’ three points as the underdog. Injuries, current form, and overall talent all come into play. To identify the value on point spreads, it’s critical to stay up with the newest league news.
Point Spread Bet Examples, How It Works
The use of point spreads in sports betting and fandom may lead to some spectacular consequences. If you are more interested in the different types of point spreads and how the spread works, this is your chance to read more.
What Is An NFL Point Spread?
Favourite teams are allocated a spread based on their predicted victory margin in NFL point spread betting. The underdog has a better chance of covering the spread than the favourite, so the NFL point spread betting odds on them may pay off when they win or lose in the final score by fewer points than the spread indicates. You’ll get your money back if they win by more than the NFL point spreads.
What Is A Point Spread Bet In The NBA?
For the expected victory margin in the NBA games, a spread is allocated to the favourite. For you to profit from your wager, they must win by a margin greater than the spread. The underdog has a better chance of covering the spread than the favourite; thus, NBA point spread bets increase your chances of winning the final score.
Run Line Point Spread Odds In MLB Action
The underdog has a run line of (+1.5), while the favourite has a run line of (-1.5) in MLB betting. If you choose to back the team that’s more likely to win, they must defeat the underdog by a margin of two runs or more. For a favourite, your payoff will likely range from (-130) to (+200). Underdog bets cost a lot of money since they are frequently placed at (-150) or higher on the run line. To win a wager on the underdog, they must lose by one run or win by a landslide.
What Are The Results Of A Point Spread Bet?
There are three possible outcomes for your point spread wager: you will win, lose, or tie. For the most part, a point spread offers odds of -110 on each side of the bet.
A losing bet is when you wager on a team -4.5, and they win by just four points, as an example. You will waste the money that you have deposited in that wager.
How to Bet With Point Spread Odds
Bookmakers establish a spread to ensure that all sides of a sporting event get the same attention. This section will explain all you need to know about the most common sports betting form.
Point Spread Betting And Parlays
The bettor may adjust each point spread or total by a predetermined amount of points. It is possible to adjust the point spread or total by six to ten points using teaser bets. These bets are simpler to win because of the added points, so they play less than a standard parlay.
Parlay Bets are wagers that comprise two teams or more and pay out far more than a straight bet, which is why they are so popular. To win a parlay bet, all teams must win or cover the point spread. You can include sporting events, point spreads, and totals in a single parlay bet.
How To Read Against The Spread Lines
A negative (-) number of points denotes the favourite, while a positive (+) number of points suggests the underdog. To ‘cover the spread,’ underdogs must avoid a loss by a margin bigger than the spread, while favourites must win by a margin higher than the spread.
What Is ‘Juice’ Or ‘Vig’ In Point Spread Betting?
The majority of the well-established sportsbooks do not want to have a financial interest in the result of a game they are betting on. Rather than gamble on one side winning, the sportsbook would want to maintain the odds roughly balanced and profit regardless of the outcome. Take, for example, a line of -110 and +110, on which two-point spread bettors each put CA$10 on the two sides opposite each other. It makes no difference how the bets turn out; the sportsbook always comes out ahead.
What Is Line Shopping?
The word ‘line shopping’ may be described as the process of scouring many online sportsbooks for the greatest odds on the teams or markets on which you want to wager and then making your bets on the odds that seem to be the most beneficial. Therefore, line shopping may be necessary to ensure that you win the most money possible while also losing the least amount of money imaginable.
Point Spreads And Live Bets
Live betting allows you to wager while the game is taking place. With-in play wagering, you can take advantage of live odds while watching anything from the Super Bowl to a regular-season Sunday afternoon game. Before each period, sportsbooks announce fresh point spreads, props, money lines, and totals to every bettor. It’s possible to watch live odds if there is a planned break in play.
Point Spread Betting Tips
It is now time to discuss strategy, having covered all of the fundamentals and more. In the end, your success will depend on your ability to recognize the value and identify winners, but there are a few things to bear in mind when you make your picks.
As a point spread gambler, you should always watch line-movement and watchpoint spreads at several sportsbooks to receive the greatest value for your money. As a result, you must seek out any chance to get an additional half-point or more.
Make your point spread before you look at the lines, and you’ll have a better chance of winning. Take a look at the games you’re interested in betting on and figure out the spread.
If you wish to place a winning wager against the favourite, you may want to wait until the end of the week to do so. In the event of a tie, the odds will shift in favour of the underdog to encourage additional bets on the favourite. As long as you can obtain the same wager and the same spread, it doesn’t matter whether it moves.
Sports Betting Terms
The more you wager, the more words you’ll want to understand about sports betting. We offer you a glossary of words provided by VSiN, The Sports Betting Network, that can help you sharpen your betting knowledge.
Action – The act of placing a wager;
Against the spread – It’s the outcome of a game in which the point spread is factored in;
Bad Beat – A wager that seems to be going in the bettor’s favour but fails to pay off;
Buck – A CA$100 wager;
Chalk – The favourite to win the scheduled game;
Consensus – Percentage of bettors on either side of a game;
Cover – The result of a wager on a point spread being covered.
Dime – A CA$1,000 wager;
Dollar – A dollar stake is worth CA$100;
Edge – Professional bettors have an advantage before placing a bet;
Even money – CA$100 wagered to win CA$100;
Favourite – Team that is expected to win the game by a large margin;
Future Bets – Bets on future events;
Handle – The sum of multiple bets made on a game;
Handicapping – Predicting the outcome of sporting events by studying statistical data;
Hedging – Betting the opposite of a prior wager to ensure at least a modest amount of money;
Hook – In the spread, a hook is a half-point;
In-game wagers – Betting after the start of a game;
Juice – Each bet is won by a commission book;
Limit – There is a limit to how much you may stake on a single bet;
Lock – The greatest favourite;
Long Shot – The greatest underdog;
Moneyline Bet – A wager on whether or not a team will win or lose;
Nickel – A stake of CA$500;
No Action – If a game has ‘No Action,’ the bets are not accepted, and winnings are returned;
Oddsmaker – The one who sets the opening line;
Off the Board – A game that can’t be wagered on;
Over – Both sides have scored more points than predicted;
Parlay – A parlay is a wager that combines many different games into one to increase the potential winnings;
Pick ’em – There is no favourite or underdog;
Point Spread – To encourage wagering on both the favourite and the underdog, bookmakers establish a point spread.
Puckline – When it comes to hockey, there is a point spread for the favourite of -1.5 to +1.5, and for the underdog of +1.5;
Prop bets – A wager on anything unrelated to the game’s result;
Push – When the actual margin of victory falls precisely on the spread, and neither side covers it;
Runline – Baseball has a favourite -1.5 point spread and an underdog +1.5 point spread;
Sportsbook – One may wager on the result of sports events at a sportsbook;
Sharp – An experienced sports bettor;
Steam – Excessive wagering causes a sudden shift in a line;
Taking the points – Underdog vs. Spread Wagers ;
Teaser – They benefit the bettor, but the payoff is lesser;
Total bets – Bet on the total amount of points achieved by both sides in a match;
Under – Combined teams’ scoring fewer than the sportsbook’s predetermined total;
Underdog – A squad that is not expected to win;
Wager – Bet made in a sportsbook.
FAQ
What does -110 mean next to the spread?
For a point spread, this is the most popular betting line. In the case of -110 odds, bettors must risk CA$110 to win CA$100 on the point spread because of the 10 percent commission, also known as the juice or vigorish.
How do I make a spread bet?
There is a winning margin in point spreads. A favourite must win by more than the point spread for you to win your bet. Your team must win by at least eight points if the spread is (-7.5) to cover the bet. To win a wager on an underdog, they must lose by less than the spread or win the game by a landslide.
How are Point Spreads calculated & made?
To level the playing field, oddsmakers devise a figure known as the point spread. It is a mechanism for the bookmaker to balance a contest between unevenly matched teams by awarding or deducting points in the final score to the underdog or favourites.
What does cover the spread mean?
Before the game, bookies decide on the spread. The favourite is predicted to win by a certain number of points, which is what you may think of it as. It matters a lot more for a favourite when they win by a perimeter greater than the spread. There is a small chance for underdogs to win or lose by fewer points than the spread. Any time a team beats the spread, bettors win, and bettors lose. Otherwise, the inverse is correct.
What does Pk or Pick ’em mean in the point spread?
A ‘pick ’em’ is a game in which neither side is favoured (commonly reduced to ‘pick’ and indicated as ‘PK’). There is no point spread (spread = 0) or moneyline for either team; thus, the bettor must determine which team will come out a winner.
Why does a point spread change?
To maintain an equal handicap, bookmakers and oddsmakers may adjust the point spread. There are several reasons why a point spread might vary, including injuries, lineup changes, weather, and the number of wagers placed on either side.
Is point spread betting riskier than Moneyline wagering?
For certain sports, a moneyline wager is a preferable choice. Despite this, real money cannot be made with this kind of gamble. Choosing a spread betting option on a sporting event is nearly always a wise decision. The ideal wager to make is spread bets.
Can you bet on point spreads for different parts of the game, such as a half or a quarter?
Unquestionably! The first, second, third, and fourth quarters of the game are all open for wagering. The bookies typically set point spreads for different parts of the game. You may also wager on first-half and second-half point spreads.
Sports betting odds fluctuate often, so it’s up to you to predict whether the side will be ahead or behind at any given stage in the game.
Can I use a point spread bet in a parlay?
Absolutely. However, all of the picks need to win for the best to be paid out. The more games you include in your parlay, the greater the payoff you’ll earn from the sportsbooks since winning becomes more improbable as the number of teams increases. Point spreads, money lines, totals, and player props are all options for combining wagers.
Why would my spread bet get cancelled?
A variety of reasons can come into play when deciding if your bet will be cancelled or not. It can happen if the sportsbook offered those particular odds by accident, sometimes the event you wager on is complicated to grade, you wagered on some suspicious match, or the parlay is improperly constructed.
When a wager is cancelled, it’s usually for one of the reasons listed above. However, the reasons are given above only apply if you follow the terms and conditions of your sportsbook.
