Understanding NFL Odds
NFL odds form the foundation of betting on professional American football.
What are NFL Odds?
NFL odds are numerical expressions used by oddsmakers to indicate the likelihood of specific events occurring in a football game. These odds not only represent probability but also determine the potential payout for successful bets.
Odds can be presented in different formats, with American odds being the most common in the United States.
An example of NFL betting lines presented with American odds at DraftKings.
American odds are based on a baseline bet of $100 and can be either positive or negative, indicating the profit or the amount you need to bet to win $100, respectively.
Positive odds indicate how much profit you will make on a $100 bet, while negative odds indicate how much you need to bet to make a $100 profit.
How to Read NFL Odds
Understanding how to interpret NFL betting odds is crucial for making informed wagers.
For instance, if the New England Patriots are -200 to win in a game during the NFL playoffs, a bettor would need to wager $200 to win $100. Conversely, if their opponent is +180, a $100 bet on the underdog would yield $180 in profit if successful.
Some sportsbooks may use decimal or fractional odds, but American is the most common for NFL sports betting.
For more information on all three formats check out our guide on understanding odds.
NFL Betting Markets
The NFL betting landscape offers a wide array of markets for bettors to explore.
These range from traditional wagers on game outcomes to more intricate bets on specific player performances or team statistics.
Types of NFL Bets
- Moneyline Bets: Moneyline bets are straightforward wagers on which team will win the game outright. The odds for each team reflect their perceived chances of victory, with favorites having lower potential payouts than underdogs.
- Point Spread Betting: Point spread betting involves wagering on the margin of victory in a game.
- Oddsmakers set a line that the favored team must win by for bets on them to be successful. For example, if the Denver Broncos are -7 against the Detroit Lions, they must win by more than 7 points for spread bets on them to pay out.
- Totals (Over/Under): Totals bets focus on the combined score of both teams in a game. Sportsbooks set a number, and bettors wager on whether the actual total will be over or under that amount.