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NFL Betting Odds Explained
Understanding NFL odds can be a tricky process since NFL betting with the Super Bowl in particular has become the most popular form of sports betting in the world. That being said, millions of americans and foreign sports bettors place their wagers every week on NFL teams. This has created competition among sportsbooks for setting NFL odds with each competing for another sportsbook player.
You must understand that the sportsbooks set the NFL lines in response to public opinion, therefore you need an NFL handicapper to help you place winning NFL bets every week. The ultimate goal of the sportsbooks is to get equal money on every game. This way they win on the "vig" or "juice" as explained below. You may see lines move every few hours in response to pubic betting opinion or sharp money plays. Therefore, please make sure to visit our live NFL odds page to see the latest NFL Lines updated every 5 minutes.
Betting the NFL can be intimidating if you are new to the process. There are many types of NFL odds to choose from every week and can be overwhelming at the start. This is why NFLChoice.com has provided a quick overview of the NFL odds process so you can understand how the NFL betting process works. The following is an explanation of NFL betting odds.
☞ 'Point Spread Betting'
Example: New England Patriots (-13) vs. New York Giants (+13)
The most popular form of NFL betting is taking a team using the point spread, which has also been referred to as the "Spread" or "Line". The teams are always denoted by a plus (+) or minus (-) symbol. Here's how this works. A sportsbook will release a line on a particular game and make one of the team's below an odds favorite. For example: New England Patriots (-13) against the New York Giants (+13). This simply means that you can either take the Patriots minus the points or the Giants plus the points. If you took the Patriots (-13) and they win by 14 or more points you get the cover and win; if they win by 13 points this is considered a push, which means no action is taken on the game with both sides (Sportsbook and Player) getting their money back with no penalties. However, if the Patriots only win by 12 points, then you lose your bet.
"Juice" or "Vig" Explained: When your betting a point spread you also have to pay the "vig" or "juice" for betting the game. This is usually at -110 betting odds, which mean that if you took the Patriots -13 as we mention above at -110 betting odds, then you are risking $110 to win $100 ($1.00 for every $10.00 bet on the game). This is how sportsbooks make their money over the long term. If the sportsbooks can get even money on an NFL game, then they will make money from the "juice" or "vig" from both sides.
☞ 'Moneyline Betting'
Example: Arizona Cardinals (+240) vs. Chicago Bears (-240)
When betting the moneyline in the NFL odds, you are not dealing with a point spread. You are taking a team to simply win the game. However, there are penalties or benefits depending on which side you take. A heavy favorite will cost you a lot of money to bet on the moneyline, whereas a heavy underdog will pay-out double, triple, and often quadruple if it wins. Therefore, if you bet $100 on the underdog Arizona Cardinals +240 to win over the Chicago Bears, then you would win $240 if you risked $100. If you took the Bears -240 to win over the Cardinals for $100 then you would be risking $240 to win $100. As you see, betting the underdog in this case has a much higher pay-out and taking the favorite has it's penalties. Betting the moneyline can be a very profitable way to win money betting the NFL, however it takes a sharp NFL handicapper like NFLChoice.com to uncover these valuable moneyline underdogs each week. ☞ 'Totals or Over/Under Betting'
Totals sports bets are becoming more and more popular among the sports betting community every NFL season. It must be known that taking advantage of NFL totals can be very profitable over the course of an NFL season. Betting the NFL totals is similar to pointspread betting in that there is typically a "vig" or "juice" involved. This means if your betting $100 then you are risking $110. This is the -110 odds factor we mention above.
When betting NFL totals, you simply select the OVER or the UNDER the total posted. For Example: The Miami Dolphins are hosting the Baltimore Ravens and the total score is posted at 26 points at -110 odds. If you bet the OVER 26, this means that the final score of the game must hit at least 27 points for you to win your bet. Just like pointspread betting, if the total score hits exactly 26 points then the bet is considered a push and nobody wins or loses. However, if the total score falls below 26 points and you took the OVER, you would lose the bet.
Now that you know exactly how to bet on NFL games, it's time to find a quality sportsbook to bet with. Please head over to our Official Sportsbook Review page for an in depth review of the top online sportsbooks. We hope you have enjoyed this quick tutorial on how to bet NFL odds each week. Please email us at email@example.com or give us a call at 1-866-940-7425 if you have any questions.