The NFL is the most popular league in sports betting, with millions of Americans wagering at the top USA sportsbooks throughout the season. From football futures odds to NFL same-game parlays and NFL props, sports betting sites have something for every bettor. The Super Bowl has more wagering options than any sporting event of the year, giving fans something to look forward to with their sports betting bankroll.
NFL odds are constantly moving due to betting action, injuries and other factors, but monitoring the NFL odds board is one way to make the best NFL bets possible. Football odds are also a useful way to gain an edge in NFL survivor pools and NFL office pools. Here are several football sports betting terms to know:NFL sports betting terms:
Alternate lines: Every NFL game has alternate lines, as sportsbooks post different spreads and totals with adjusted odds. For example, if a team is favored by one touchdown, many sportsbooks will offer odds on the team to win by at least 10 points instead.
American odds: American odds are the most common odds used in the NFL, with the moneyline indicating the amount of money needed to win $100 (favorite) or the amount that a $100 wager would pay (underdog). This is one of the three main types of betting odds.
Closing Line: The final odds posted when the game begins is the closing line. The live odds will then start to shift after the game begins and will generally continue until the game is over.
Consensus: The consensus line is a combination of odds from the top sportsbooks. If a team is a 7-point consensus favorite, it means that most oddsmakers have the team favored by seven points.
Decimal odds: Decimal odds, also called European odds, are one of the other formats used to present betting odds. They represent the amount of money someone would win for every $1 wagered.
Favorite: The favorite is the team expected to win the game outright. Favorites have a negative sign in front of their spread and money line odds.
Fractional odds: British (fractional) odds are the final type of odds used in sports betting. They are the ratio of the profit won to the stake, as a 6-1 underdog would pay $6 for every $1 wagered.
Futures: These can be some of the most interesting odds to monitor, as they relate to things such as championship winner or division winner. Most sportsbooks update their futures odds on a weekly basis, giving fans a chance to see how their team stacks up in the eyes of the oddsmakers.
Home-field advantage: One thing that is a factor in every NFL game is home-field advantage, which changes the odds based on which team is playing at home. Some teams have a bigger advantage than others, as their crowd noise or location can adjust the odds more significantly than others.
Hook: If the betting odds have a half-point attached to them, that is called the hook. The hook makes it impossible for the betting result to end in a tie, as NFL games do not have half points.
Juice: Also known as vigorish or vig, the juice is the amount factored into the odds by oddsmakers. An American odds bet of -110 contains $10 of juice for every $100 wagered.
Line movement: NFL odds generally do not move as much as other sports due to the accuracy of the betting market, but they still feature line movement due to various reasons. Weather, injuries or large bets are all reasons for line movement on NFL games.
Money line: The money line is the odds related to the winner of the game with no point spread involved. Favorites have negative odds, while underdogs have positive odds in an American odds format.
Oddsmaker: Someone who sets betting odds and lines is an oddsmaker. Some oddsmakers create their own betting odds (originators), while other oddsmakers copy odds that are already in the market.
Over/Under: This is one of the primary sets of odds used for the NFL, with the number representing the expected points scored in the game. These are also used for some futures odds, such as how many games a team will win in a season.
Pick’em: If neither team is favored, the game is called a pick’em. The betting odds have not determined a favorite or an underdog, so they are usually good games to watch.
Spread: The point spread levels the playing field between two teams, as it is the number of points the favorite is expected to win by. The favorite is designated by a negative spread (-7), while the underdog has a positive spread (+7).
Underdog: Unless a game is a pick’em, every NFL contest has an underdog, which is the team that is expected to lose. They are denoted by a positive number in the betting odds.FAQ:What are the types of NFL betting odds?:
The three primary types of betting odds are American (money line), fractional (British) and decimal (European). They are alternate ways of presenting the same odds, offering the same payout in each scenario. The percentage probability of an event occurring can be converted and presented in any of the odds offered.How do I know which team is favored?
Favorites are always priced with a negative sign in front of their spread or money line, while underdogs have a positive sign in front of theirs. If a team is -6.5, they are the favorite and would need to win by at least seven points to cover the spread. Their opponent would be +6.5, needing to lose by six points or fewer (or win outright) to cover as an underdog.Who sets the NFL odds?
Odds are originally set by oddsmakers, who are also called sports traders or bookmakers. They usually adjust their odds once bettors start wagering money. The odds can also be moved due to things like injuries or weather forecasts.Why can I not find football odds for a game?
Sportsbooks take games off the board when a star player suffers an injury, the venue changes or another factor occurs. Oddsmakers usually re-post the updated line within a few hours, depending on the severity of the news. The odds are frozen so the sportsbook avoids taking large wagers on odds that are likely to change.What is the total?
This is another way to reference the over/under, which is the number of points expected to be scored in a game. If a game has an over/under of 45.5 points, it will go over the total with 46 or more points and under the total with 45 or fewer points. Over/under odds are also used for prop odds, such as a player’s receiving yards in a game.