NFL Odds
Understanding NFL Odds & Point Spreads
Understanding NFL betting odds is essential for anyone interested in sports betting. NFL odds are a way of representing the probability of a team winning a game and are usually displayed in one of three formats: American, decimal, or fractional. American odds are the most common format used in the United States. However, for those who like to add more excitement to their Sunday afternoons, there are many different ways to bet, especially using the NFL schedule point spread.
To read NFL odds correctly, it is also important to understand the point spread.
The NFL point spread is a way of handicapping the favored team and creating a more even playing field. The favored team must win by a certain number of points to “cover the spread” and win the bet, while the underdog can either win outright or lose by fewer points than the spread to win the bet.
NFL Payouts
Calculating potential payouts from NFL odds is also important for making informed betting decisions:
For Underdogs:
The payout can be calculated by dividing 100 by the NFL game odds and multiplying that result by the wager amount.
For Favorites:
the payout can be calculated by dividing the odds by 100 and multiplying that result by the wager amount.
By understanding these concepts and doing research on teams and matchups, bettors can make informed decisions and enjoy the excitement of NFL betting.
How Do NFL Odds Work?
When looking at NFL point spread odds on any online sportsbook, they are represented as a number that is either positive (+) or negative (-). The minus sign in front of the odds means that the team is the favorite to win the game, while a plus sign represents the team that is the underdog or the team that has a lesser chance of winning.
The odds also indicate how a winning wager will be paid out. A minus before the odds show how much needs to be wagered to win $100, while a plus sign indicates a bet on the underdog with the number indicating the amount won for every $100 wagered.
Odds and point spreads can vary from sportsbook to sportsbook, so it is important to shop around and compare different options to find the best value.
NFL Betting Odds Examples
When looking at the most popular bet -the spread- the team with the negative number is the favorite. For example, if Pittsburgh is -6 against the Cowboys, who are +6, a bet on Pittsburgh means they must win the game by seven points or more to win the wager. A bet on the Cowboys means they would have to either win the game outright or lose by less than six points to win.
| Team | Point Spread |
|---|---|
| Dallas Cowboys | +6 |
| Pittsburgh Steelers | -6 |
As an example, when betting on the total, or over/under, let’s say the Steelers and Cowboys’ total is 44. To win taking the over, the total points scored by both teams must be at least 45 points. For the under bet, the total points score must be less than 45 to be a winner.
Types of Football Betting
When considering the best NFL bets, it’s important to look at various factors such as team performance, injuries, historical trends, and betting odds. Here’s an overview of some general betting strategies and top picks for making informed bets in the NFL.
- Â A moneyline wager is a bet on the team that will win the game outright, without any nfl lines involved. The odds are shown as a three-digit number with a plus or minus before them to indicate the favorite and underdog for the NFL matchup.
- A bet on the NFL spreads is the most popular wager in NFL football. It encourages action on both teams, no matter how much better one is than the other. The team next to the negative number is the favorite, with the number indicating how many points they are favored to win by.
- Betting on the total, or over/under, is a wager on how many total points will be scored between both teams in the game. Players can bet whether the total will go over or under the number indicated.
- A parlay is a wager that includes more than one bet. It can consist of a combination of a moneyline, spread, or total wager from one or more games.
- A teaser is a parlay where all bets are against the spread or the total. The bettor will be given more favorable spreads, with the potential payout being much less than a regular parlay.
- These are wagers that can be made before the start of the season and predict the outcome in categories such as who will win the Super Bowl or which player will win specific individual awards at the season’s end. The odds on futures bets will change as the season progresses.
