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I have a serious question regarding betting terminology

FUnderwood

Letterman and National Champion
Gold Member
Sep 6, 2017
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Rossville, GA
I’ve never gotten into sports betting or anything so I’ve always wondering what it means when a point spread is given at the beginning of the week (-5.5 vs. Bama).
I know that means Georgia is favored to win by that amount of points, but what is that based off of - where does that spread originate and who decides to put that number out to the public and how accurate is this?
Obviously it’s not 100% accurate, but what is the average % that Vegas gets their numbers right?
 
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