We see this question pop up a lot from people who are new to spread betting so here is a quick rundown of what PK means and when you will come across it.
What PK stands for
PK stands for “pick” or sometimes you will see it written as “pick’em.”
You will run into it when you are looking at point spread markets and the sportsbook has decided that the two teams are so evenly matched that neither one gets any points.
The spread is zero.
There is no favorite and there is no underdog.
You just pick which team you think is going to win the game straight up and that is your bet.
Normally when you look at a spread you will see something like Team A -3.5 and Team B +3.5.
That means Team A is favored by three and a half points.
But when the line is PK there are no points involved at all.
Both teams are sitting at even and whoever wins the game wins the bet.
It does not matter if they win by one point or by thirty.
How is that different from a moneyline bet
Good question because on the surface it sounds like the same thing. The difference is in how the odds are priced.
On a moneyline bet when two teams are closely matched you might see something like -115 on both sides or -110 and -105. The sportsbook adjusts the price to reflect which team they think has a slight edge.
On a PK spread both sides are usually priced at -110 which is the standard spread juice. So you are getting the same odds on both teams.
With a moneyline the prices can vary between the two sides even when the game is considered a toss up.
In practice the difference in what you actually pay is small but it is worth understanding that PK is a spread market and not a moneyline market even though the outcome you need is the same.
What happens if the game ends in a tie
This depends on the sport. In the NFL regular season games can end in a tie and if you have a PK bet and the game finishes level then your bet is graded as a push and your stake gets refunded.
In the NBA or college basketball ties do not happen because the game goes to overtime so this is not an issue. In soccer PK bets on the match result typically only apply to the 90 minute result and a draw would be a loss unless the sportsbook specifically offers a PK with the tie as a push.
Always check the rules at your book.
When you will see PK lines
PK lines tend to show up in big rivalry games where the teams are evenly matched or in playoff situations where the sportsbook genuinely cannot split the two sides.
You will also see them early in the week before the money comes in and moves the line one way or the other.
A game might open as PK on Sunday night and then by Thursday it has shifted to -1.5 because one side has taken more action.
If you like the PK number it can be worth getting on early before the line moves.
