A point spread is a betting tool used in sports to create a more balanced competition between two teams. It represents the number of points by which a favored team is expected to win. For example, if the New England Patriots are favored by 7 points against the Miami Dolphins, they must win by more than 7 points for a bet on them to pay off. In contrast, if you bet on the underdog, in this case, the Dolphins, they can either win the game outright or lose by fewer than 7 points for your bet to be successful. This system helps make betting more exciting and competitive.