Spread (Point Spread)

The point spread is a margin set by bookmakers to create balanced betting action on games between unevenly matched teams. The favourite must win by more than the spread for a spread bet to pay out, while the underdog can lose by less than the spread (or win outright). Spreads are common in rugby, basketball, and American football. In South Africa, rugby point spreads are particularly popular — a Springboks vs Japan match might have a spread of -20.5 for the Boks, meaning they must win by 21+ points. Spread betting typically offers close to even-money odds on both sides.