Betting on the National Football League (NFL) has become increasingly popular over the years, especially with the rise of online sports betting. With so many games and betting options to choose from, it can be overwhelming for beginners to know where to start. This article will guide you through the simplest bet types for NFL games, helping you understand the basics of how to bet on this exciting sport.
The Moneyline Bet
The moneyline bet is the most straightforward and common type of bet in NFL games. It simply requires you to pick which team will win the game. The payout for a winning moneyline bet depends on the odds of the chosen team. If the team is favored to win, the odds will be lower, meaning you’ll have to bet more to win a substantial amount. On the other hand, if the team is the underdog, the odds will be higher, allowing you to potentially win more with a smaller bet.
Understanding Odds
Odds can be presented in different formats, but the most commonly used ones are American odds, decimal odds, and fractional odds. In American odds, the favored team is represented by a negative number (e.g., -200), while the underdog is represented by a positive number (e.g., +150). The number indicates how much you need to bet to win $100 or how much you’ll win if you bet $100. For example, a -200 favorite means you need to bet $200 to win $100, while a +150 underdog means you’ll win $150 if you bet $100.
Decimal odds are more straightforward, as they represent the total amount that will be returned to you (including your original stake) if you win the bet. For example, if the odds are 1.50, you’ll receive $1.50 for every $1 you bet. Fractional odds are popular in the UK and represent the profit you’ll make on a successful bet. For example, fractional odds of 2/1 means you’ll receive $2 for every $1 you bet, plus your original stake.
Tips for Making Moneyline Bets
When making moneyline bets, it’s essential to consider the strength of each team and any injuries or suspensions that may affect the game’s outcome. It’s also crucial to look at the teams’ past performances, especially when playing against each other. It’s not uncommon for a team to have a history of dominating another team, which could give you an edge when making your bet.
Another tip is to keep an eye on the odds before placing your bet. If there’s a significant change in the odds, it could mean that many people are betting on one team, causing the odds to shift. This information can help you make a more informed decision on where to place your bet.
The Point Spread Bet
The point spread bet adds a bit more complexity to the traditional moneyline bet. Instead of simply picking the winner, this type of bet requires you to choose which team will cover the spread. The spread is set by oddsmakers and represents the number of points they predict the favored team will win by. For example, if the spread is -3, the favored team must win by at least three points for the bet to be successful.
Understanding Point Spreads
Point spreads are set based on factors such as team performance, injuries, and home-field advantage. Oddsmakers aim to create a balanced market, with an equal number of bets being placed on both sides. This ensures that the sportsbook can make a profit regardless of the game’s outcome. In most cases, the odds for a point spread bet are -110, meaning you need to bet $110 to win $100.
Tips for Making Point Spread Bets
When making point spread bets, it’s essential to consider the factors that influenced the oddsmakers’ decision. You should also look at each team’s recent performance and how they’ve fared against similar opponents. It’s also helpful to keep an eye on any line movements and consider why the odds may be changing.
The Over/Under Bet
The over/under bet, also known as the total bet, is based on the combined score of both teams. Oddsmakers set a total number of points they predict will be scored in the game, and bettors can then choose whether they think the actual score will be over or under that amount.
Understanding Over/Under Bets
Similar to point spreads, the odds for over/under bets are usually -110. However, the total can vary significantly from game to game, depending on the teams playing and other factors that may affect scoring. For example, if two high-scoring teams are playing, the total may be set higher than if two defensive teams were playing.
Tips for Making Over/Under Bets
When making over/under bets, it’s essential to consider the teams’ offensive and defensive capabilities. Look at their average points scored and allowed per game, as well as their past performances against each other. It’s also crucial to pay attention to weather conditions, as this can greatly impact scoring in outdoor games.
The Parlay Bet
A parlay bet is a combination of two or more individual bets. To win a parlay bet, all the individual bets included must be successful. This type of bet offers higher payouts than individual bets but also comes with a higher risk.
Understanding Parlay Bets
Parlays can include a mix of moneyline, point spread, and over/under bets. The payout depends on the number of bets included in the parlay and the odds of each individual bet. For example, a two-team parlay with -110 odds for each bet will have a payout of +260, meaning you’ll win $260 for every $100 you bet.
Tips for Making Parlay Bets
Parlays can be an exciting way to potentially win big, but they also come with a higher risk. It’s essential to do thorough research and make informed decisions when selecting the bets to include in your parlay. It’s also crucial to manage your bankroll carefully and not get carried away with high-risk parlay bets.
The Teaser Bet
A teaser bet is similar to a parlay bet, except that it allows you to adjust the point spread or total for each game. This adjustment comes at a cost, as the odds for teaser bets are usually -110 for each individual bet included.
Understanding Teaser Bets
Teasers can range from 4-10 points, depending on the sportsbook. The more points you choose to adjust the spread or total by, the lower the odds will be. For example, a 7-point teaser will have lower odds than a 10-point teaser.
Tips for Making Teaser Bets
Teaser bets can help minimize risk and increase your chances of winning, as you’re able to adjust the odds in your favor. However, it’s essential to use this type of bet strategically and not get carried away with large teasers that offer low odds. It’s also crucial to understand that teaser bets are still considered high-risk, and it’s best to only include a few games in each teaser.
The Futures Bet
Futures bets allow you to bet on events that will happen in the future, such as which team will win the Super Bowl or who will win the NFL MVP award. These bets often have high payouts, but they also require a lot of patience, as you won’t receive your winnings until the event you bet on has happened.
Understanding Futures Bets
Futures bets are usually available before the NFL season starts and throughout the season, with the odds changing based on each team’s performance. The earlier you place your futures bet, the higher the potential payout, as the odds will be lower if a team is performing well.
Tips for Making Futures Bets
When making futures bets, it’s essential to stay up-to-date with team news, injuries, and trades that could potentially impact the outcome of the event you’re betting on. It’s also crucial to manage your bankroll carefully, as these types of bets can tie up your funds for an extended period.
Conclusion
Betting on NFL games doesn’t have to be complicated, especially if you stick to the simplest bet types. Understanding the basics of moneyline, point spread, over/under, parlay, teaser, and futures bets will allow you to make more informed decisions when placing your bets. Remember to always do thorough research, manage your bankroll carefully, and never bet more than you can afford to lose. With these tips in mind, you’ll be on your way to becoming a successful NFL bettor in no time.