Let me break it down better to address all this and Ray. My answer was specifically addressing the NFL "4" vs the "4.5" both at -110. This is what Ray was asking.

To calculate the worth of the 1/2 point(s), you have to know the push rate of the number(s) involved. For the 4, I used 2.5% (Comptrbob, Irish Tim, OSU may have something slightly different and going to change their answer). Theoretically then, if the game closes 4 BW has a 52.50% chance of winning his wager which is .12% > than the 52.38% breakeven of -110. He theoretically wins, his follower theoretically loses. If the follower spends 10 cents and buys up to +4.5 -120, theoretically he also loses as 52.5%< 54.55%.

Answering Ray's original question properly would be "it depends". And what it depends on is the specific numbers and the price he's paying on/off those numbers.

Now, the counter argument would be that BW isn't a coin flipper, and the baseline for his intent wager is > than 50% changing the math of the advantage gained by chasing a 1/2 point.