NFL Betting and Latest Odds Explained
While there are hundreds of ways to bet on the NFL, a few wagers are far more popular than others, including against the spread, over-under, money line, and prop bets. No matter what type of NFL bettor you are, there will always be a wager for you. With nearly an infinite way to bet on the NFL, let’s tackle the main betting types and odds that every beginner bettor should understand.
NFL Against the Spread Explained
The most popular way to bet on the NFL is against the spread (or ATS for short). With these types of wagers, you are not picking who will win or lose the game. For example, the Philadelphia Eagles are (-6.5) against the Los Angeles Rams, meaning the Eagles are 6.5-point favorites over the Rams. Placing an ATS wager on the Eagles would mean your stake will only cash if Philadelphia beats Los Angeles by more than 6.5 points. However, the great thing about ATS betting is you can also flip the script and receive free points to start the game if you love the underdog. If you believe the Eagles cannot beat the Rams by more than 6.5 points, you can wager on Los Angeles (+6.5) to cover. Los Angeles could still lose the game, 23-20, but your ATS +6.5 wager will still cash because they lost by less than the spread. Sounds exciting, right? Because it is!
NFL Over/Under Explained
If you do not feel comfortable betting on how many points one team may win over another, this wager could be right up your alley. In Over/Under bets, you do not take a side on who will win the game, but rather what the two teams will combine to score either over or under the total number of points that sportsbooks have set. For example, the Philadelphia Eagles are taking on the Los Angeles Rams with an O/U (52). Meaning you can wager on whether both teams combined will score over or under 52 points. It’s also relatively simple to understand if you cashed or not. If you placed Over 52 points and both teams combined to score 53 points, you win! If you put an Under 52 points wager and both teams combined to score 51 points, you win! If both teams combined to score exactly 52 points, your stake would end up in a push or cancelled. Bettors who love seeing touchdowns will always bet the Over for every game!
NFL Money Line Explained
Meet the easiest way to gamble during an NFL game. It’s also the least frustrating form of gambling if you ask ATS bettors. Moneyline, or ML for short, is only betting on who will win the game. For example, the Philadelphia Eagles (-250) are favorite in their game against the Rams. If you believe the Eagles will beat the Rams, you can wager $250 to win $100. Each odds given to each team is set to $100. Now, let’s say you think the Rams (+280) can pull off the upset. If you wager $100, you will win $280 as the odd (+280) states. Favorite odds are how much you have to bet to win $100, and underdog odds are how much you win if you bet $100. One of the reasons bettors will often stay with money line betting is that ATS wagering becomes too stressful. For example, the Philadelphia Eagles (-6.5, -250) are taking on the Los Angeles Rams. If the final score is 23-20, Eagles -6.5 ATS bettors lose, but Eagles -250 ML bettors win. To play it safe, the money line is the way to go.
NFL Same Game Parlay Explained
Same Game Parlay is one of the most enjoyable ways to place a bet. NFL Same game parlays are popular because they are small in terms of how many games are involved. So rather than having to put down several different wagers on different games, you can place a series of bets on the same game all in one betslip. In turn, this affects the odds. Adding together the probability of one bet winning and another bet also winning dramatically reduces the likelihood of both events taking place. Of course, there is still a chance that none of the bets you place will win, and even if all but one win, you will lose the parlay, so you need to be careful about ensuring your bets have good enough value.
An excellent example of this would be to place a bet on the favorite team to win; however, if you also bet that the opposing team will get at least one touchdown. Of course, the odds of the favorite team winning will be better than the opposing team, which will reduce the profits; however, adding to the bet that you think the opposing team will get at least one touchdown will increase your profits. (that is, of course, only if both bets win).
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NFL Odds FAQs
The underdog is represented with a plus sign (+) before a number and the betting favorite is shown with a minus sign (-) and a number. The amount of money that needs to be wagered in order to win $100 is determined by that.
The three most popular types of wagers are the money line, point spread, and total (over/under). The money line is a bet placed on who will win outright. When you pick the point spread, you’re gambling that a team will either win or lose by X number of points. Lastly, the total means betting that the combined score for both teams will be over or under a certain amount of points.
How often does the moneyline favorite win in the NFL? Since 1985, moneyline favorites have won 66.5 percent of the time. In 2020, moneyline favorites had a 67.1% success rate, finishing 188-88-1 SU.
A +200 number indicates that you would earn a total profit of $200 if you placed a $100 bet. So, with an odds ratio of +200, you’d make $200 in profits if they win so do you. The greater the amount following the plus sign, the more significant an underdog the team or individual is expected to be.
The money line is the amount you must wager to win $100. On a successful $100 wager, +200 in the NFL money line means that you will earn $200 in profit. That’s also equal to fractional odds of 2/1, decimal odds of 3.00, and implied odds of 33.33 percent. A negative money line (-200) implies that in order to win $100, you must stake $200.
The Bills rank first in the AFC, with the Tampa Bay Buccaneers being the favorites in the NFC. The Chiefs, Rams, and Green Packers are among the league’s top teams.