A handicap applied to the favorite to level the playing field. The favorite must win by more than the spread to cover.
A point spread (or 'the line') is a handicap set by the sportsbook to create roughly equal betting interest on both sides. The favorite gets a negative spread (-7.5) and the underdog gets a positive spread (+7.5).
To 'cover' the spread, the favorite must win by more than the spread amount. The underdog covers if they win outright or lose by fewer points than the spread.
Most spreads are offered at -110 on both sides, embedding ~4.5% vig. When lines move, it usually means sharp money has hit one side.
An odds format where negative numbers show how much to risk for $100 profit, and positive numbers show profit on a $100 bet.
VigThe bookmaker's built-in commission. The difference between true odds and what you're offered.
Closing Line Value (CLV)Getting better odds than the final line at market close — the strongest indicator of long-term betting skill.