The NFL can make you money.
Yes, it’s true that as a fan or a viewer, your engagement with the game has not only allowed the NFL to grow bigger but allowed you to win money.
There’s an increasing interest in the NFL all over the world. A growing number of regions across the globe are getting in on the action, including the UK.
The next few years will only see an increase in NFL betting popularity.
The league is spreading its wings into international space by playing a minimum of three overseas matches in the UK, and soon, we will all witness matches in other parts of Europe as well.
Therefore, it’s the right time to learn about NFL betting odds, types of betting, and how different bets work.
There are three basic types of betting in the NFL; money line, handicap, and over/under.
- Moneyline is the simplest betting variation among them. Most beginners use the money line to learn the ropes of NFL betting. In this type, you’re only required to guess the winner of the match. For your help, each team has the winning odds. These odds are created by the sportsbooks by accumulating several factors, such as team strengths, the form of players, playing conditions, etc.
- Handicap or spreads is a more advanced betting type. Opposing teams have different strengths and abilities, so to counter and level the playing field, bookmakers offer points spread. In a match, the Handicap market represents the relative chances of each team and is popular with advanced bettors since it provides a balance between them and provides more value.
- Over/under, or some may call it totals, focuses on the combined points scored by both teams. In this betting type, you get the option of placing a wager on whether the total points would be over or under.
Other Variations in NFL Betting
- To add more options for the bettors and attract the masses, the industry is trying new variations. An example is time-bounded betting, where you can wager within a game, like the score of the first quarter, second-half points, etc.
- Outright betting is another variety that offers an option to make a bet for a longer period, like across the season. For example, predicting the total season wins of a team, division winners, and NFL MVP.
- Moreover, to cater to the hype and magnitude of the Super Bowl, specific betting options are introduced. These include betting on who will be the first scorer of the TD or who will win the Super Bowl MVP.
How to Read NFL Betting Spreads?
Football spreads balance the win/loss ratio. As a better, you are better off wagering on spreads. For instance, if the Chiefs have a spread of +6.01 and the Patriots have -6.03.
If you choose the Patriots and they win with six or more points, you win your bet. And if you choose the Chiefs and they win with six or more points or lose by less than six, you win the bet.
How Are the NFL Betting Odds Established?
The point spreads are designed to attract an equal number of bets on both teams because without them, everyone would pick favorites to win, and bookmakers would not make any money unless the underdog wins.
The point spreads for the week are available after Sunday night. However, week 1 is the exception, and the point spread is based on speculation, fans’ perceptions, team stats, etc.
The odds for both teams are usually (-110). It means you need to pay $110 to win $100. A bookmaker collects money and pays winners from losers’ money while keeping a percentage.
In the money line, the odds represent the favorite and the underdog. The favorite has a minus sign and an amount, which shows the amount you need to pay to win $100. On the other hand, an underdog is represented with a plus sign and an amount, which shows the amount you would win by wagering $100.
Featured Image: Chris Moore