The Super Bowl spread refers to the point spread set by sportsbooks to level the playing field between the competing teams. This betting line indicates how many points the favored team is expected to win by, allowing fans to wager on either side. For example, if a team is favored by 3 points, they must win by more than that margin for bets on them to pay out. The Super Bowl spread adds excitement to the game, as fans not only cheer for their teams but also engage in friendly competition through betting, making it a highlight of the sporting event.