Sporting events, a shared passion for the game, and a legislature poised to act. Iowa was a "perfect storm" for sports gambling. The amount of money wagered on sports in Iowa has risen month over month as more and more operators join the fray. A range of college and professional athletic events can be bet on in the state, which has accepted legal sports betting. Previously, Iowans who wanted to sign up for mobile betting had to go to a casino sportsbook in person, but now that process may be completed online.

In August of this year, Iowa became the latest state to legalize sports wagering, including mobile sports betting as per Iowa betting guide.

It's possible to gamble on a wide variety of markets, from traditional ones to more unusual ones, on the internet. Point spread betting, on the other hand, has been around for a long time. You can bet on athletic events in Iowa using this way.

If you'd like to learn more about how point spreads work, please continue reading.

What is a point spread?

When it comes to gambling in Iowa, money lines and point spreads are the two most popular options. In many ways, point spreads and money lines have merged into one another.

Before the start of a game, oddsmakers set a point spread. To "cover" the point spread, we must know how much a team must win or lose to win the game. The Moneyline requires us to know which team will win the game.

What's the deal with point spreads?

The favorite is signified by a negative number next to its betting line, whereas a positive sign marks the underdog. A bet on the favorite side suggests that a team must win by a predetermined quantity of points. To win (or cover) a bet, the underdog must win the game outright or lose by a smaller margin than the point spread.

Sportsbooks use the point spread to level the playing field in wagering because not all teams are of comparable quality. For wagering purposes, oddsmakers will still identify one team as a favorite and the other as an underdog when the teams are evenly matched.

Alternatively, you may think of point spreads as a hypothetical number that you can add or subtract from each team's final score. Is that team still the victor even after the point spread is taken into account? If that's the case, you've won your bet because they beat the spread. As a result, it appears as if they have not adequately covered their bases.

Do you want to see how spread betting works in action? There is no better place to be than here.

What you need to know about reading point spreads

Many new bettors are unsure of how to interpret point spreads. Using NCAA football lines from BetMGM Sportsbook for the Hawkeyes' showdown with Wisconsin, we can see how to read these odds and wager point spreads.

Spreads are the same for both teams, unlike money lines. With Wisconsin as the favorite and Iowa as the underdog, there is a 1.5 point spread. If you bet on Wisconsin, you'll need them to win by at least two points to cover the spread. The Hawkeyes, on the other hand, must win or lose by one point to cover the spread and win the bet in this game.

Figure out how much you can gain or lose by looking at the point spread. Each side of the spread has a -110 line, the industry norm for college football point spreads.
The term "vig" or "juice" is used by sportsbooks to refer to this. Using point spreads, we demonstrate how to quantify the risk and reward associated with placing a bet on the outcome.

To what extent is 'juice' a part of sports wagering terminology?

How to calculate point spread payouts and how sportsbooks take their share are two things you'll need to understand about sports betting "juice" or "vig," which stands for vigorish.

You'll hear these terms a lot when you're betting on point spreads and totals. Juice refers to how much money a bettor has to pay to take a particular point spread. Because of how oddsmakers generate their money, it's almost like they're charging a price for their services. It's a necessary evil for sports bettors. Look at the number next to the spread to figure out how much danger and reward you'll face on a given side.

This number should be compared to 100 to determine the reward. For example, the -110 line pits Iowa against Wisconsin, meaning that for every $100 wagered, you're taking a $110 hit. There would be an increase in the risk of $12 every $10, $60 per $50, or $120 per $100 if the -120 line was crossed.

Changing the point spread can have a variety of effects.

The exact pricing for a specific point spread can vary from site to site, just like the point spread itself. However, even though many point spreads have an industry standard of -110, it is pretty typical for the payout to vary from that number.

Basketball and football spreads (and totals) will often pay out between -125 and +105, on average. Most sportsbooks will modify the spread by a half-point if the activity on a particular game drives the payout to either of those extremes.

At -1.5 (-110), the line for Wisconsin, for example, might move as high as -1.5 (-120%). If the trend continues, the sportsbook will eventually decrease the line to Wisconsin -2 (-110), resetting the payout odds since a half-point was added to the spread.

Precisely the same can happen on the other side of the fence. Wisconsin's line might go to -1.5 (+100) if Iowa gets a lot of attention. It's possible that if things go on like this, the odds will shift to Wisconsin -1, and the payoff will reset to the starting range of -110. Then the process begins anew.

Line shopping is a good strategy for sports bettors since point spreads and the prices we pay for those spreads are constantly changing. To ensure that you're getting the best odds and pricing possible, you need to compare betting lines from multiple sportsbooks.

Let's take a look at our previous example to see how sportsbook spreads and payouts might differ. DraftKings Sportsbook odds will be used this time:

A "push" occurs when the spread is set a certain distance from each other, as in this example. This means that if Wisconsin wins this game by one point, the original wager will be repaid to both sides of the bet.

When it comes to sports, how do point spreads differ?

Point spread betting is used in a variety of sports, so let's look at some instances.

Spread betting on the NFL

What is the point spread in NFL wagering? Just like in our college football scenario, it functions similarly. Tampa Bay Buccaneers vs. Minnesota Vikings: Let's take a look at an example of this:

The Buccaneers must win by seven points or more to cover the spread if you bet on them. To win at -115, you must bet $11.50 for every $10 you win. A win or a loss by six or fewer points for the Vikings would mean that the bettor would get paid if they bet on the underdogs. This would cost $10.50 for every $10 if the price were -105.

As more bets on Tampa Bay came in, the juice on both sides may have changed from -110 to -110, or vice versa. Tampa Bay may have been slightly more likely to win by seven or more than the other team. Therefore the bookmaker may have set the spread with two different prices.