I consider myself pretty knowledgable about sports betting and I have an equally knowledgable friend telling me that it's only called covering the spread when the favorite covers, and that if a +5.5 dog loses by 4 it's not called covering the spread. Am I crazy or are they stupid?
I see both sides. If you hear someone say "Did they cover?" they are typically referring to the favorite. But I've heard it used for dogs too.
It does cover both sides. The guy who bets of the favorite wants to know if his team won by enough to cover, while the guy that bet on the dog wants to know if his team kept it close enough for his team to cover.