Betting on the most watched and followed sport in America is something that everyone does, in one way or another; whether people bet through online sportsbooks or a friendly wager between friends. There are various factors that surround the NFL and betting online, such as the Odds, Picks, and Betting Lines. For those that want to bet online, would need to use their preferred sportsbook and go from there. Nothing is simpler, and more gratifying than betting on an NFL matchup and watching the competitive games play out.
NFL Schedule and Matchups
The first thing that a sports bettor will find when they go to their favorite online sportsbook and look up the NFL will be to find the schedule and upcoming matchups. As many should know, there are weekly matches during the regular season, which will be shown on the sportsbook. What they usually do is that they will open up the betting a few days before the match is set to take place, allowing time for the bettor to make a decision on which team will win. Knowing the schedule is important as it will let the bettors look forward to see their team’s opponents. This is where the next obvious step in betting on the NFL online happens, looking at the odds.
NFL Betting Odds
The odds are created by the oddsmakers of each sportsbook; some take the odds straight from Las Vegas, while others come up with their own. A bettor needs to know about the odds or else they will be betting blindly, and that is just not a good way to gamble. There are three basic forms of showing odds, American, Decimal, and Fractional. Above all else, a sports bettor should always know which team is the Favorite and which is the Underdog.
Favorite vs. Underdog
A rule of thumb that everyone has when using American or Decimal odds, in order to figure out which team is the favorite and which is the underdog, is to look directly in front of the odds.
American odds // Decimal odds
+140 // +2.25
-110 // -0.80
As you can see, there are two symbols, the “+” and the “–“. The “+” symbol represents the Underdog, and the “–” symbol represents the Favorite. When talking about Fractional odds, there is a different method to figuring out which team is the Favorite and which is the Underdog.
Green Bay Packers 2/3
Chicago Bears 1/10
The team with the best odds, the fraction that is closest to 1, is given to the Favorite while the worst odds, furthest from 1, is given to the Underdog.
American odds are what most sportsbooks like to show. These odds are shown as whole numbers, usually in the hundreds.
Indianapolis Colts +140
New England Patriots -110
They are very similar in use as the American odds, and are also widely used in sportsbooks. They are represented by decimal numbers.
Cleveland Browns +2.25
Houston Texans -0.80
Just as the name suggests, these odds are represented by a fraction.
Green Bay Packers 2/3
Chicago Bears 1/10
NFL Betting Picks
When talking about a betting pick, they are usually talking about choosing the best team to win. This is where they compare and contrast various different aspects of a team, determining that they are the best choice when picking a winner. These picks are based on team and player statistics, as well as on public perception.
Team and player statistics influence these favorite picks, since the teams and players show an elevated skill level. These skills include defense and offense. Defense is comprised by how well they defend against scoring, passing, and rushing. Offense is the same, but inverted; it is based on how much they are able to score, pass, and rush against other teams.
Public perception, or rather hype, is also a determining factor when picking a winning team. Most bettors tend to ignore this aspect, as it does not stem from rational observation, but rather from public opinion. Nonetheless, the hype the public gives a certain team, determines whether or not their odds are good or bad when it comes to winning.
NFL Betting Lines
Betting lines are basically the type of bet that a person wants to wager on. There are various types, where most of them are common on any online sportsbook. The most common is the Money Line, Spread and Totals bets.
Money Line Bet
It is a straight forward bet, where the wager is whether or not a team will win, regardless if it is the Favorite or the Underdog. The team’s odds only matter when calculating the payout for this type of bet.
This bet is a little more complicated, but not that much. This bet also determines which team will win, but it does depend on two factors, whether the team is the Favorite or Underdog and the points given.
Indianapolis Colts +140 (+2)
New England Patriots -110 (-2)
The -2 symbolizes how much the Favorite has to win by, in this case the Patriots have to win by more than 2 points. If the bettor wagers on the Underdog, in order for the bettor to win, the Underdog has to either, 1) win the match or 2) not lose by more than 2 points.
This is also a straight bet, based on how many is predicted to be scored during the match; it combines both teams’ scores. A bettor will simply determine whether or not that total sum is the amount that will be scored; they can also choose to bet on whether the total amount scored will be higher or lower than the figure given.
Using it All
Based on all of the information given, a bettor should be able to at least understand the basics of NFL betting online, and how to go about doing it.