If a time-traveling sports bettor from the 1800s was introduced to today’s wagering scene, there’s no doubt they would have a lot of catching up to do. Besides the fact that the majority of bets happen online now, the way potential odds are calculated is also very different now.
Before mathematician turned bookmaker Charles K McNeil introduced the concept of the point spread, betting on uneven matchups wasn’t particularly exciting. Back then, tournament favorites usually came with high odds, and promising underdogs who almost never won offered incredibly high payouts.
The introduction of the point spread is a big part of why sports betting is still such a popular pastime today. Without it, people might have moved on decades ago.
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The origins of the point spread
Before point spreads came about to change the game forever, betting on teams that weren’t closely matched was a gamble with almost no appeal. While not all matchups were like this, the ones that were felt unbalanced and a tad boring. Seasoned bettors were likely to skip over these games entirely.
In the 1940s, everything changed. In an attempt to fix this imbalance, Mr. McNeil came up with a clever idea to assign a point value to teams with very high odds of winning a game. Today, it’s clear to see that this was the right move. By allowing people to wager on the margin of victory and not just the winner, people were encouraged to pay closer attention to these matchups.
Some might argue that the point spread was foundational to how modern sports betting is approached and enjoyed now. Today, it’s a staple in a wide range of sports betting markets including baseball and football. It’s common for NFL point spreads to be offered by almost all online bookmakers. Platforms will eagerly offer up spreads along with suggestions surrounding which teams players should bet on.
The impact
It’s difficult to quantify exactly how much impact this change had on the activity of betting on sports. Its impact is far-reaching, mostly because of how it leveled the playing field and encouraged a fairer and more exciting system. Now, both sides offer bettors chances to win, making the action far more steady. Individuals are enticed to wager on more games more often, even when it’s clear one team will come out on top when it’s time to play.
While there are many reasons why the online sports betting market is booming and around 180 million people are expected to get involved in some capacity by 2029, the introduction of the point spread is most definitely a factor for the market’s ongoing success. Today, fans are more engaged and more willing to place bets on asymmetrical matchups than they ever have been.
Points spreads also allow people to put more focus on wagering strategies, which is arguably one of the most interesting aspects of modern sports wagering. Today, people must put more energy into analyzing the recent performance of teams and potential margins of victory to decide which side offers the highest potential returns. If a bettor is clever about which point spreads they wager with, they could walk away with a large payout no matter who ends up winning on the field or court.
Not all point spreads are the same
It’s valuable to point out that not all point spreads are created equal. For a variety of reasons, individual bookmakers, sites, and platforms will offer bettors different odds at different times. Why? These small variances exist because platforms are constantly competing against each other to keep bettors loyal and happy.
One platform might offer slightly more valuable lines if they see their daily user numbers drop. They do this to bring old bettors back and encourage newcomers to sign up. In the same way, an athlete might tailor their training to reduce or prevent injury, a bookmaker will sometimes have to tailor their point spreads from time to time. Betting platforms are businesses at the end of the day, and It’s all about optimal performance.
As systems for crunching numbers and analyzing potential odds become more varied and more advanced, it’s natural for some lines to differ between platforms. If one platform starts using AI machine learning models to create new point spreads and another one uses an older method, it should come as no surprise that the exact lines will differ from time to time.
How to find the best ones
The fact that point spreads aren’t exactly the same everywhere means that a bettor who shops around for the best ones could be rewarded for their efforts. Hunting for the best lines can help bettors find the most lucrative potential spreads for a chosen wager, but only up to a point.
Variations between spreads do happen, but the exact differences are often very small. For this reason, it’s sometimes better to examine how the point spread is moving on a single platform. If a big shift or change happens, this could bring new information to light that may be able to guide or influence a favorable decision.
In summary
Point spreads are a big deal, and they have been for some time now. Players who take the time to learn everything they can about how they work and what they mean usually end up having more fun when betting and sometimes even manage to get lucky enough to enjoy significant payouts.
Whether a person follows point spreads for fun or knows how to use them to their fullest advantage, there’s no doubt that their existence has been a major boon for the industry as a whole. It’s a clever numbers-based system that has managed to keep the spirit of betting alive for all these years.