NFL Wagering
American football is the most popular sport in the United States, and as a result, one of the most popular betting sports. Fans can bet on both college football (the NCAA) and professional football (the NFL), the latter being by the most popular of the two, and one which boasts millions of fans inside and outside North America.
For this reason, most online sportsbooks feature a wide variety of NFL wagering options, or betting lines. These range from spread bets to money line bets to teaser bets and more, and are regularly updated during each NFL each season.
Below in our NFL wagering guide you'll find an explanation of the most common types of NFL bet types:
Spread Bets (Straight Bets)
Spread bets are the most common types of NFL wagers. The 'spread' refers to the number of points sportsbooks feel one team will beat another by. This means spread bets are not reliant on the final score of an NFL game, but the margin of victory.
An example of a spread bet is the Giants at -5.5 vs the Patriots at +5.5. The minus means the Giants are the favorites, and the plus means the Patriots are the underdogs. The .5 is added by oddsmakers to eliminate a tie, also known as a 'push'. In this example, if you bet the Giants to win, they must win by 6 points or more (cover the spread) for you to be paid out. If the Giants win by 5 points or less, or are defeated, you lose the bet and punters who bet the Patriots are paid out.
Spread bets usually have odds set at $1.10 to $1.00, which means in order to win $100, you must wager $110. The $10 difference is how sportsbooks make their money.
Money Line Bets
Money line bets are the simplest of all NFL bet types, because they allow you to bet on the team you think will win, no regardless of the final score. An example of an NFL money line bet is Giants -150 and below that Patriots +140. If you bet the Giants (favorites), you must wager $140 to win $100, and if you bet the Patriots (underdogs), you must wager $100 to win $140. If the game results in a push, your bet will be returned.
Over/Under Bets
Over/Under bets allow you to predict whether a game will be a high or low scoring one. Bookmakers post a number they predict will represent the total points scored by both teams combined. You must then decide whether the final score will be higher (over) or lower (under) than their prediction.
An example of an over/under bet is Giants/Patriots set at 42 points. If you believe the final score will be 44, take the over, and if you believe the final score will be 39, take the under. If the final score is 42 points, resulting in a push, your bet will be returned. Like spread bets, Over/Under bets usually have odds set at $1.10 to $1.00, so to win $100 you must bet $110.
Parlay Bets (Accumulators)
Parlay bets are multiple point spread bets where you must cover the spread of two or more NFL games to be paid out. If one of the teams on your parlay bet fails to cover the spread, the entire bet loses. However, if one or more teams push, the bet is reduced by that number, and the odds are recalculated.
For example, if you take a five-team parlay (24/1 odds) with the Giants, Packers, Patriots, Bengals and Jets, and the Packers and Jets push, you'll be left with a winning three-team parlay (6/1 odds), and be paid out accordingly. Some sportsbooks allow parlays of up to 12 teams (600/1 odds).
Teaser Bets
Teaser bets are similar to parlay bets in that they involve two or more picks, all of which must win for you to be paid out. However, the differ in the way that they allow you to 'manipulate' the spread by adding or subtracting points, and as such, their odds are lower than those of parlays, but your chances of winning are improved.
For example, if you bet the Giants -9, the Patriots -5 and the Bengals +13 with a 7 point teaser, the adjusted point spread would be the Giants -2, the Patriots -2 and the Bengals +20, which would improve your odds some. However, a three-team teaser bet pays out 9/5 compared to 6/1 on a parlay bet.
