NFL Betting and Latest Odds

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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.

How are NFL odds formatted?

NFL odds can be presented in three formats: American (e.g., -150, +130), Decimal (e.g., 1.67, 2.30), and Fractional (e.g., 4/6, 13/10). American odds are the most commonly used in the United States and show how much one needs to bet to win $100 (negative odds) or how much one wins from a $100 bet (positive odds).

NFL Bet Types

You can place various types of bets including:

Point Spread: Betting on the margin of victory. The favorite needs to win by a certain number of points set by bookmakers.
Moneyline: Betting on which team will win the game outright.
Totals (Over/Under): Betting on the combined score of both teams, whether it will be over or under a predetermined amount.
Props (Proposition Bets): Wagers made on the occurrence or non-occurrence of specific events not necessarily related to the game’s final outcome.
Futures: Long-term bets typically placed on team achievements, such as winning a division, conference, or the Super Bowl.

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).

What strategies can improve my NFL betting?

Successful NFL betting strategies might include:

Studying recent team forms, head-to-head results, and injury reports.
Understanding situational factors such as home-field advantage and weather conditions.
Managing your bankroll carefully and looking for value in odds, which means finding bets that are priced better by the bookmakers than their true probability.

Common NFL Betting Mistakes to Avoid

Common betting mistakes include:

Betting with heart instead of analyzing data and trends.
Failing to shop for the best lines, which can offer more favorable odds for the same bet across different sportsbooks.
Overlooking the importance of injuries, especially to key players like quarterbacks or defensive leaders.

NFL Betting and Odds FAQs

What is NFL betting?

NFL betting involves placing wagers on outcomes related to National Football League games. This includes picking winners of games, predicting the number of points scored, and many other types of specialized bets.

Can I engage in live betting during NFL games?

Yes, live betting is available for NFL games, which allows you to place bets after the game has started. Odds for live betting are updated in real-time throughout the game.

How do I read and understand NFL betting odds?

To effectively read and understand NFL betting odds, know that odds reflect the implied probability of an outcome. For instance, -150 means a team has a high probability of winning and you’d need to bet $150 to win $100, while +130 suggests a team is less favored, but you’d win $130 from a $100 bet.

Are NFL betting winnings taxable?

Yes, winnings from NFL betting are considered taxable income. It is recommended to keep detailed records of your betting history for tax purposes.

Where can I find reliable NFL betting tips and information?

Reliable NFL betting information can be found on sports betting sites such as Kruzey, sportsbooks with analytical tools, and forums where experienced bettors discuss strategies. Additionally, subscribing to newsletters from respected analysts can provide valuable insights.