The "vig" is an abbreviation of the word vigorish, which is what the bookmaker "charges" for accepting a wager. For example, Suppose a point spread opens with the Celtics favored by 5 points over the Knicks at -110. Example: The Bucks are favored by 4. They have covered the spread, and people betting on the Bucks will win their wagers. (2) The underdog covers the spread: Bettors win choosing the underdog when the underdog wins outright OR the underdog loses by a margin LESS THAN the point spread. No team has "covered" here, and bets on both the Ravens and Steelers will be returned. This is because Chicago won by 3, when the Bears needed to win by 4 in order to cover the spread. But regardless of sport, the point spread serves as the great equalizer when betting on games!
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