Understanding a Spread Bet in Sports Betting

Usually, people more people place bets on the same team if it is stronger than the other if the choice is just a pick to win. However, sports books view that as a problem because they use a portion of the money from losing bets to pay winners. That means that sports books experience significant losses if one team gets too many bets. Covers.com explains such occurrences in depth, especially for novice bettors. Sports books are companies where bettors place sports bets. Sports books offer a spread bet to avoid such situations, or rather even things out. A spread bet is given where the margin of victory in a game is used to define the winner of the bets. The sports book offers a line for the game that proposes a minimum margin of winning for the favorite team. In this case, the favorite team is the one that more people believe will win. The minimum margin of winning for the favorite is known as the spread.

Spread betting aims at creating an active market for both sides of a bet on college football odds. Strong teams may be matched up against by weaker teams in a sporting event. If the favorite team wins by more than the minimum margin of win, they cover the spread, so people who bet on them win money. The other team is known as the underdog. Bettors who bet on the underdog can win their bet in two ways. One of the ways is if the underdog wins and the other way is if the underdog loses, but the margin of win is less than the spread. Understand that covering the spread is only necessary for the favorite team, not the underdog. Bets are usually canceled, and people get their money back in situations where the favorite team wins by just the spread amount. It is not a favorable situation for the sports book; hence, they always make the canceled bet impossible by giving a spread with a fraction. The fraction is known as the hook. A positive number shows that the team is a favorite while a negative number indicates an underdog team.

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