Written by :
Published on :
Understanding NFL Odds is on everyone’s mind with the regular football season around the corner bettors and with the football odds makers gearing up for another big season. In this article I will explain the different types of NFL Odds betting options available at sportsbooks. Like betting on the Point Spread, betting on the Total also known as the Over/Under and betting the Moneyline. You’ll need to know how each are used, what each means and tips to give you that extra edge.
Betting on the “Moneyline” refers to NFL odds on the straight-up outcome of a game.
This is how it would look when you visit a sportsbook like BetOnline:
Indianapolis Colts -150
Pittsburgh Steelers +120
In this instance, the Colts are the favored team, as signified by the - (minus) written in front of the 150, while the Steelers are the underdogs, as designated by the + (plus) in front of the 120. What these numbers mean is that those wishing to bet on the favorite, the Colts, will have to risk $150 to win $100, while those wanting to wager on the underdog, the Steelers, will risk $100 to win $120 It's important to remember that even though money lines are expressed in units of $100, you do not have to bet that much money. The money line will work just as easily with a $5 or $10 wager as it does with a $100 bet.
Betting on the “Over/Under” refers to a bet on the total number of points scored by both teams and whether it will be either higher or lower than that number. In Super Bowl XXXIX, most NFL odds makers set the over-under for the score of the game at 45 points. A bettor could wager that the combined score of the two teams would be either more than or less than that number. Since the combined score of that game was 45, anyone who had bet on "under" won.
Here is how betting the over/under look on a sportsbook like BetOnline:
Dallas Cowboys O/U-45.5 (-110)o
New York Giants O/U-45.5 (-110)u
This is a bet on the total number of points scored by both teams. Suppose the Cowboys are playing the Giants and the total is set at 45.5 points. If the final score is Cowboys 24, Giants 17, the total is 41 and bettors who took the under will win. If the final score is Cowboys 30, Giants 31, the total is 61 and bettors who took the over will win. The total is popular because it allows gamblers to bet on their overall perception of the game (e.g., a high-scoring offensive show or a defensive battle) without needing to pick the actual winner.
The numbers in the brackets represents the amount you have to wager. If you picked the outcome of this game to be over the total combined 37.5 points you would have to bet $110 to win $100. Regardless of who won.
Betting on the “Point Spread” refers to whether the outcome will be above or below the spread. This is where the pay-off is based on the accuracy of the wager, rather than a simple "win or lose" outcome, such as fixed-odds (or money-line) betting. The point spread is essentially a handicap towards the underdog. The wager becomes "Will the favorite win by more than the point spread?" Instead of a win or lose scenario. The spread is intended to create an equal number of wagers on either side, where the implied probability is 50% for both sides of the wager.
Here is how the point spread looks on a sportsbook like BetOnline:
New England Patriots -4 (-115)
Pittsburgh Steelers +4 (+105)
In this example the NFL odds makers are saying the New England Patriots are playing the Pittsburgh Steelers and they have made the Patriots as -4 point favorites over the Steelers. This means if you pick the Patriots (-4) to cover the spread, the Patriots would have to win by more than four points. If the total at the end of the game is Patriots 25 Steelers 15 you would win. If you picked the Steelers (+4) to cover the spread, the Steelers would have to come within four points of the total score at the end of the game. So if the score at the end is Patriots 25 Steelers 24, you would win. Spreads are frequently, though not always, specified in half-point fractions to eliminate the possibility of a tie, known as a push. In the event of a push, the game is considered no action, and no money is won or lost.
The numbers in the brackets beside the point spread represents the amount you’d have to bet and the amount you would win. Since the Patriots are “The Favorites” you would have to bet $115 to win $100. If you picked “The Underdog” Steelers to cover the spread, you would have to bet $100 to win $105.
Betting on sports is never a “Sure Thing” but doing your homework by analyzing team trends and player stats can definitely increase your chances of beating the NFL odds makers. I wish you good luck on all your wagers this season.
- Reno Gold, Gambling911.com
