When it comes to sports betting in the US, no other league is more popular than the National Football League (NFL). An estimated $100 billion is wagered in sportsbooks each year, with the Super Bowl alone generating hundreds of millions in handle. This number does not even include the number from offshore sportsbooks. With that betting volume, it makes you wonder why people bet on the NFL? What types of NFL bets can you make and win money on?
The answer to the first question is easy. From the preseason all the way to the Super Bowl, people can enjoy watching and betting on exciting games. There are 272 games in the regular season, plus the postseason games. Each game is different, and all these matchups are exciting and unpredictable. Thus, bettors enjoy a unique betting experience in every game.
This brings us to the second question. In each NFL game, you have dozens of options to bet on. There are even new options, like creating your own prop bets in your sportsbook. This is why bookies need to upgrade their sportsbook for the football season. With so many NFL betting products available, bookies need to give their players the best possible experience. Here are some of the bets you will see in the best NFL sportsbooks.
Betting Basics: Types of NFL Bets
When you learn how to bet on football, the types of NFL bets are something that you should remember. Each bet brings a different level of risk. This means that the rewards will also vary. And each bet requires a different level of skill on your end. For instance, it can be quite hard to predict the spread. But if you have special knowledge of certain players, then you could be more successful at prop bets.
This is why you need to understand what and how each bet is made. Any advantage you have increases your chances of winning the bets that you place. Instead of random wagers on your favorite teams, opt for strategic wagers based on team history. Here are the basic bets you can make:
NFL Basic Bets
Moneyline
Among the many types of NFL bets, this is the simplest. Moneyline bets are straightforward wagers on which team will win a game. Sportsbooks set the odds before kickoff, with underdogs typically offering higher payouts than favorites. The margin of victory is irrelevant for moneyline bets. Just choose who you think will win. It’s a low-risk bet, so the payout is lower than other wagers like the point spread.
Point Spread
Point spread bets are popular among NFL bettors as they theoretically level the playing field between teams of different levels. For example, if the Chiefs are 9.5-point favorites over the Patriots, bettors backing the Patriots +9.5 win if the Patriots win outright or lose by 1-9 points.
Totals or Over/Under
Totals, or over/under bets, involve wagering on whether the combined score of both teams will exceed or fall short of a number. For instance, in a Raiders-Chargers game with a total of 47.5, a final score of 28-20 would result in a win for over-bettors, while 23-10 would benefit under-bettors.
Other NFL Bets You Can Make
Proposition/ Prop Bets
Prop bets focus on specific scenarios within a game, such as a player’s performance or the occurrence of certain events. Examples include betting on a quarterback’s passing yards or whether a game will go into overtime.
Futures
Futures bets involve outcomes determined in the future rather than the next game. Examples include betting on the Super Bowl winner, division champions, or season win totals for teams. Odds for futures bets often fluctuate throughout the season based on team performance and injuries.
Other Advanced Bets
For more experienced bettors, advanced options include parlays, teasers, live betting, contests, and quarter/half betting. Parlays combine multiple bets into a single wager with a larger payout, but all selections must win for the bet to pay out. Same-game parlays allow bettors to combine multiple outcomes within a single game.
Teasers are similar to parlays but allow bettors to adjust point spreads and totals in their favor. While they offer lower payouts than traditional parlays, they provide more flexibility in bet selection. To help you make better NFL bets, we will go into more detail about the more complicated types of NFL bets in another in-depth tutorial. For now, its best to master the basics before moving on to more complex wagers.
By understanding these types of NFL bets, you can easily elevate your NFL betting experience. If you make more informed decisions throughout the season, your chances to win more increases. Of course, you can always become the bookie and earn more. With the betting software bookies use, you can easily start an NFL sportsbook even without training. Even better, you can do this without spending an arm and a leg.
