Super Bowl Betting - Alternate Point Spreads
If you don't like the point spread on the Super Bowl, go ahead and change it. You're allowed to, although it will cost you a bit if you shade the line in your favor. But if you're really confident of your team covering the point spread by a large margin, betting alternate point spreads will make you a little more money should you happen to be correct.
Alternate point spreads are essentially different point spreads than the primary lines used for a game and can be found for both sides and totals wagers on the Super Bowl. But instead of laying the traditional -110 for straight wagers, bettors are asked to risk considerably more if they move the point spread in their favor, or bettors can take better odds if they move the line the other way.
The point spread for the Super Bowl is currently:
Pittsburgh -7 over Arizona
Over/Under 46.5
Bettors taking Pittsburgh -7 points over the Arizona need the Steelers to win by eight or more points to win their bets, while those taking Arizona +7 need the Cardinal to lose by six or fewer points, or to win the game, in order to win their wagers. If the Steelers win by exactly seven, all bets tie or "push."
Bettors wagering on the over/under are betting the combined score of both teams will exceed 46.5 points or come in under 46.5 points. In both cases, bettors are asked to risk $11 to win $10 on either the point spread bet (Pittsburgh or Arizona) as well as the over/under.
But alternate point spread bettors can be asked to risk as much as $130 to win $10 or they can risk $10 to win $90 depending on the bet they make.
NOTE: If you're new to the world of sports betting, I would suggest reading Understanding Money Lines and Understanding Point Spreads before continuing. It will make things much easier.
2008 Super Bowl Alternate Point Spreads
Here are the latest alternate point spreads and the odds on each:
Arizona Cardinals -10.5 +900
Pittsburgh Steelers +10.5 -1300
Arizona Cardinals -7.5 +650
Pittsburgh Steelers +7.5 -850
Arizona Cardinals -3.5 +320
Pittsburgh Steelers +3.5 -420
Arizona Cardinals +3.5 +150
Pittsburgh Steelers -3.5 -170
Arizona Cardinals +10.5 -170
Pittsburgh Steelers -10.5 +150
Arizona Cardinals +14.5 -300
Pittsburgh Steelers -14.5 +250
Arizona Cardinals +17.5 -450
Pittsburgh Steelers -17.5 +350
Arizona Cardinals +21.5 -650
Pittsburgh Steelers -21.5 +450
Game Total Over 37.5 -340
Game Total Under 37.5 +280
Game Total Over 40.5 -230
Game Total Under 40.5 +190
Game Total Over 54.5 +220
Game Total Under 54.5 -260
Game Total Over 57.5 +280
Game Total Under 57.5 -340
Summary
The first thing a bettor has to determine prior to making a wager against the alternate point spread is if there is any value to any of the numbers against the current point spread. One way to do this is to figure out the odds if you were to buy points from the sportsbook at the standard -10 for each half-point you move the line. (Most sportsbooks will allow a bettor to move the line up to three full points.
With the current point spread of Pittsburgh -7, buying half-points would give the bettor the following adjusted lines:
Pittsburgh -6.5 -120
Pittsburgh -6 -130
Pittsburgh -5.5 -140
Pittsburgh -5 -150
Pittsburgh -4.5 -160
Pittsburgh -4 -170
Arizona +7.5 -120
Arizona +8 -130
Arizona +8.5 -140
Arizona +9 -150
Arizona +9.5 -160
Arizona +10 -170
From this example, we see that Pittsburgh bettors who are a little uneasy laying a touchdown could get a slight advantage by using the alternate point spread and taking Pittsburgh -3.5 at -170.
Arizona bettors who would like a little extra protection for their wagers should the Steelers win by 10 points will receive an extra half-point by using the alternate point spread and taking Arizona +10.5 (-170).
If there were no limits on buying half-points, Pittsburgh bettors could theoretically buy the point spread to the following:
Pittsburgh +7.5 -400
New England +3.5 -320
New England -3.5 -180
Therefore, Pittsburgh bettors are taking the worst of it odds-wise if they take Pittsburgh +3.5 or +7.5 with the alternate point spread.
New York bettors could theoretically buy the point spread to the following:
Arizona +14.5 -260
Arizona +17.5 -320
Arizona +21.5 -400
So Arizona bettors are also much worse off by taking the Cardinals +17.5 or 21.5 points on the alternate point spread, and slightly worse off when factoring in the odds on the Cardinals +14.5
There is another factor that should be considered and that is line movement with the primary point spread. A shift in the point spread could change which type of wager (the alternate point spread or buying points) would favor the bettor.
It is possible to find a bit of value with alternate point spreads, but bettors will have to take all factors into consideration and pick and choose their spots carefully.
