Point Spread Betting in Ohio
Staff Last updated: While there are several betting options, point spread betting is prevalent throughout Ohio. Point spreads are just one type of wager available in Ohio’s legal sports betting market. Read on for a comprehensive look at point spread betting and some of Ohio’s best advice on wagering.
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Betting on the Spread: What is it?
A point spread wager predicts the margin of victory or defeat for a chosen team. Its design is to make betting more fair by giving the underdog equal footing in terms of odds. Given this, there is little to no difference between the cost of staking for either team. Bets on spreads can be made on the underdog, known as ‘betting against the spread’ or the favorite, also known as ‘covering the spread.’
Betting against the spread means the underdog must either win the game outright or lose by a margin less than the spread. On the other hand, if the favorite wins by more than the amount of the spread, they are said to have beaten or covered the spread.
For instance, you can wager on a 5.5-point spread between the Ohio State Buckeyes (underdogs) and Michigan Wolverines (favorites). This means that either team should lose or win by the given margin.
If the Wolverines win by six points or more, the bettor wins the wager since the Wolverines cover the spread. This wager looks easy, but the inherent unpredictability of each game makes it anything but easy.
Understanding Point Spread bets in Ohio
The attractiveness of betting on point spreads lies in their apparent ease. The best way for Ohio bettors to place more effective point spread wagers is to familiarize themselves with the dynamics of betting on favorites and underdogs.
Favorites and underdogs
A team’s odds (positive “+” or negative “-“) are based on how likely it is to win the game. If one team has odds of (-), they are the favorite, while the other team has odds of (+), meaning they are the underdog. Picking a favorite or an underdog when betting against the spread is easy.
There is always a favorite and an underdog in a point spread. For instance:
- Wolverines -7
- Buckeyes +7
In this scenario, the Wolverines are the favorite, indicating they are likelier to win the match. The Buckeyes, on the other hand, are the underdogs.
Betting against the spread
For example, when betting on a team that’s +7, they can either win the game outright or lose by six or less. The favorite wins if they win the game by eight or more.
Betting on the spread
Covering the spread means winning a bet with a point spread. This focuses on the favorite team in a matchup. Here, the bettor predicts how many points the favorite will win by.
The point spread is the margin by which a favorite must win for bettors whose money is on the favorite to ‘cover’ their margin. The team successfully covers the margin when they win by or above the predicted margin. If a team is -7 and they win by seven points, this is considered a “push,” and you’ll get your money back. A “push” is the gambling term for a tie.
What is the spread?
The spread must be set before bettors can attempt to cover or bet against it. The odds in Ohio are set by sportsbooks. Consequently, bettors have various options for placing wagers on their favorite teams. These include Caesars Sportsbook, BetMGM, FanDuel, BetFred, and more. These sportsbooks set the spread because they generate betting on the favorite and the underdog. Examples of the spread are a three-point spread (-3 and +3) or a seven-point spread (-7 and +7).
Points Spread odds
The odds on a spread bet at a sportsbook in OH typically sit at -110 for both teams. You will receive the same payout if you bet on the Wolverines -7 or the Buckeyes +7 and win.
Using Ohio Point Spread Bet promotions
Right now, there’s intense competition at sportsbooks in Ohio. You can place the safest possible point spread wager by taking advantage of a low-risk offer. Due to the onslaught of offers from betting sites, it’s essential to understand what you’re getting and how to channel it into point spread betting.
Improved odds
It’s more common to see Ohio odds boosts as a daily promotion than a signup bonus, and a few books release a new slate daily. The odds boost lets bettors place wagers with odds more in their favor.
For instance, the odds of the Wolverines vs. Buckeyes point spread could increase from +110 to +140 with the help of an odds boost. In either case, the first step to a winning bet is the same, but the possible payout goes up.
Paired Deposits
Many OH sportsbooks will likely feature the deposit match at some point as a welcome bonus, as it’s a widespread promotional offer. Essentially, the house will put up an equal amount to match your initial deposit. Aside from the initial deposit, the best match will typically be the first time a player makes a deposit.
Deposit bonuses could be subject to wagering requirements.
Bonus Bets
This is a standard welcome bonus at Ohio online sportsbooks. For example, DraftKings, Tipico, FanDuel, and BetMGM all offer this. With this promotion, you’ll wager a specific amount and receive bonus bets back.
Referral Bonus
Suppose you have a large social circle or place of employment that is interested in playing. In that case, you may be eligible for a sizable referral bonus. When friends sign up through your referral link and make a deposit to their account, you’ll both receive a bonus.
Other odds types in Ohio:
Bottomline on Point Spread betting in OH
Wagering on spreads is one of the best options because it’s less complicated.
Point spread betting offers an exciting new dimension to sports betting. Whether you’re betting on a huge underdog or a heavy home favorite, bettors should have adequate information about the teams to place more effective bets.
FAQ Points Spread Betting Ohio
What is betting against the spread?
“Against the spread” or “ATS” refers to a team’s win-loss-tie record against the spread in a betting context.
Why choose point spread betting option?
Point spread betting is an alternative to moneyline betting in that if you’re able to gauge the game through the point spread, you could win more money as the point spread bets typically have odds of -110. In contrast, moneyline favorites might be -300 or some other equivalent, offering less value per dollar wagered.
What is the spread?
The spread is a number determined by online sportsbooks to denote the gap in power between two teams competing.