You may have thought that NFL betting is as easy as a child’s game, but as soon as you open an account at any online bookmaker, you will see that things are not so easy. Betting lines might be confusing, and that is because they are made for people with at least some basic knowledge of the NFL betting market.
To obtain an insight into the NFL betting market, read below – we have explained the most common NFL bet types.
1. Point Spread Bets
Known as handicap betting in the UK, the point spread is arguably the most common bet type on the NFL betting market. Most commonly, this bet is used in matches between favorites and underdogs. The point spread bet gives an advantage to the underdog and a handicap to the favorite. Just like point spread betting in other sports, in NFL the favorite is distinguished by a minus before the odds, and the underdog is indicated by a plus before the odds.
For example, if you bet on the Giants at a handicap of -1.5, they have to beat the opponent by at least two points for your wager to be a winner. On the other hand, the Browns have a point advantage of 1.5 and if you stake on them, your bet will be a winner even if they lose by up to two points.
The bet is void if the game finishes in a draw at a handicap of either + or -3, meaning that you will get your stake back. To eliminate void bets, casino betting sites use half points to indicate the odds.
2. Moneyline Bets
One of the simplest bet types, the moneyline bet is a preferred choice by many beginners, and represents the backing of one of the teams to win a game. It should be noted that the odds reflect which team is more likely to win.
Let us say there is an upcoming game between the Giants and the Browns at odds of -160 and +146 respectively. If you decide to back the Giants, you have to stake $160 to receive a profit of $100, and you will get your stake back. Conversely, if you back the Browns, you have to bet $100 in order to get a profit of $146 if they win the game, and receive your initial bet back.
Another vital thing to remember is that you do not have to stake the amount of money indicated by the moneyline, as it simply sets the odds.
3. Totals Bets
The totals bet is a betting section, commonly found in NFL sportsbooks. As it is a relatively simple bet type, the totals bet is popular among beginners.
To put it simply, the totals bet is based on your predicting whether the total points in a match (i.e., the combined score of both teams) will be higher or lower than a numeral, offered by the bookmaker.
Imagine that the bookmaker has offers a total over 55 at odds of -130, and the same odds for a total under 55. If you decide to back under 55 and place a bet of $130, if you win, you will get $100 plus the amount you placed as a bet.
4. Parlay Bets
Parlay bets represent bet types where at least two games are joined together for an increased payout. Parlays are incredibly profitable (if you bet on just two games, you will receive a payout of about 10 to 1, and betting on six games will reward you roughly 1,800:1). On the other hand, if just one of the games goes wrong, your entire parlay is doomed.
Keep in mind that parlays are incredibly risky bets, so you should think carefully when placing such a bet.
5. Prop Bets
Prop bets or proposition bets are more exotic bet types and they most commonly involve the performance of an individual player, or show what will happen at a specified stage in the game. As a matter of fact, prop bets are one of the most diverse bet types, as they can consist of anything the bookmaker decides to put out.
For example, a prop bet is a bet where you predict on which side on which the coin will flip in the Super Bowl.
6. Teaser Bets
Another type of parlay bet, the teaser bet involves betting on additional points on betting markets such as totals or point spreads. In general, you can bet either 6, or 7 point teasers on a number of teams (the term “team” is used to distinguish individual picks).
In order to win, each of your bets must be a winner. In conclusion, if you wager on a five team teaser and one of the teams ends in a push, you will not receive a payment for it.
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