NFL odds are typically created in order to be played in one of two ways. Bookmakers start by evaluating the two teams entering a match, based on their previous records, the players for each team, any players that may be injured or otherwise unable to play, and so on. They then create odds for each team based on this evaluation, and these odds are posted for the public. When a gambler looks at NFL odds, he or she will most often see something like this:
Team A: -150
Team B: 150
This type of NFL odds is known as a money line. In money line betting, the bookmakers assign odds to the underdog and the favourite that they think reflect their chances of winning the game. In the previous example, Team A is the favourite, and a bet of one hundred and fifty dollars would pay out one hundred if they were to win. Team B is the underdog, and would pay out one hundred and fifty dollars on a one hundred dollar bet. It is very rare that bookmakers do not choose an underdog and favourite, but in games where teams are equally skilled it does happen.
Money line betting is popular because of the higher risk and reward, making the games very exciting. While it might seem sensible to always bet on the favourite, thus virtually guaranteeing your winning, keep in mind that many games require a large bet on the favourite for a relatively small payout. It is not uncommon to see odds posted with the favourite’s odds at -400 and the underdog’s at 500. While most of these games end in a predictable fashion, the occasional upset makes some people tear out their hair and others very rich and happy.
The other type of NFL odds you will see are spread betting odds. In this type of betting, bookmakers create a point handicap for the underdog. As long as the underdog loses by less than that point handicap, any bet on them will pay out. On the other hand, a bet on the favourite requires that team to win by at least the point handicap in order for the bet to pay out. The point handicaps are set in such a fashion that, in the bookmaker’s opinion, they reflect a roughly fifty percent chance for a bet on either team winning. Spread betting is a much safer form of betting, as there are no huge payouts but neither are there any huge risks. If you are a fan of a particular football team, putting some money on them in a spread bet can make a win feel even better or take the hurt out of a loss.
