This means, in order for the wager to win, the Cowboys would need to lose the game by fewer than three points, or win outright. Those backing the Cowboys are betting on the underdog, and thus 'taking' the points. This means they would have to win by four or more to cover the spread and make your wager a winner. So if you wish to wager on the Giants, you'd be giving up or 'laying' three points with them.
The spread is a handicap that requires the favored team to win the game by an ascribed number of points in order for the bettor to win a wager on that team. The spread is essentially a mathematical formula used to bridge the talent gap between teams and incentivize potential bettors into considering both sides. Take the following listing you might see in a sportsbook: Cowboys +3 Giants -3 In this example, the Giants are three-point favorites vs. Perhaps the most common question newcomers have when they see sportsbook odds is, 'What do the numbers mean?' While the plus and minus signs might look confusing at first, they are easily explained.