The rise in sports betting in the US gets fueled by states taking a laxer legalization stance on this pastime. That trend has spread like wildfire over the past four years, and according to Bill Miller, the CEO of the American Gaming Association, now, over 111 million Americans can use regulated sportsbooks in their home states safely, avoiding the dangers of the black market. Though a good chunk of the US betting population has been taking advantage of NFL betting websites based abroad decades before this retail and online US gambling revolution began transpiring.
In 2022, an expected 47 million US residents will wager on NFL games, an activity that should reach a fever pitch once the NHL, NBA, and MLB seasons also get underway. In 2021, this sports betting industry in the US produced $4.29 billion in revenue on bets totaling $57 billion. This year, projections are that these numbers will be even more impressive.
Thanks to the vast supply of statistics and analytics available on the Web these days, everyone boasting decent sporting knowledge has the opportunity to turn themselves into a profitable football bettor. That is not something that happens overnight, as to bet on American football and win requires consistency. Five types of simple wagers get rattled off below that those considering getting into this pastime should know and think about utilizing on their quest for betting wealth.
1. Wagering the Moneyline
When it comes to the safest bet on football and the one that is the easiest to understand, the moneyline has no competition. Simply put, this term refers to picking the team that will go on to win the game. The odds a bookmaker lists for this happening dictate the potential payout. Negative ones indicate that a team is a favorite, while positive ones specify that an NFL collective is an underdog. Note that this is a US odds format, and in both instances, a winner gets back his initial wager plus the amount won. As the difference between the odds listed for the underdog and favorite widens, the favorite’s winning probability increases.
2. Betting the Point Spread
While betting the moneyline may be the simplest NFL bet one can make, wagering on the point spread is likely the most popular choice gamblers opt for when testing their football intuition. NFL games are rarely perfect match-ups, so bookies look to level the playing field by allowing gamblers to bet against the spread. That means the best team will not win the game, but they will do so by posting a different number of points on the board. The benefit of the spread is that it gives points to longshots, which occurs when bookies allow a hook, a phrase for a spread with half-points attached that avoids the possibility of a tie/push.
The over-under is a rudimentary gambling concept. In this wager type, bettors only bet on the total number of points scored. Betting the over is when someone wagers that the end score will be above a specific point tally, and the under is that it will be below it. For example, betting the Green Bay Packers versus the Dallas Cowboys at forty-four means that if the end score is above forty-four, a gambler wins, and if it is precisely this figure, he will get his wagered money back. Of course, if the scoreboard total is below forty-four, then the bet loses. There is no correct answer regarding which is better to bet, the over or the under. Statistically, wagering the under has a higher success rate going by data accumulated from multiple US sportsbooks.
Betting on futures is one of the most common ways Americans make attempts at making money on the NFL. Futures are wagers made on something that should transpire months in advance. Hence, their name. The most popular bets from this category are who will win the Super Bowl, who will be the league’s MVP, or who will lead the NFL in rushing yards. Their odds are often surprisingly quite acceptable, and sports betting sites often set several future wins for each NFL team, combining them with a hook. These get called seasonal props on some platforms.
A parlay is nothing more than blending multiple single bets as one on the same slip. All the games listed must win for the parlay to pay out. Most expert gamblers suggest that bettors stick to two to three bets per parlay. Increasing the number of games bet also grows the odds in play. And if one loses, the whole wager goes down the drain. In most cases, a two-team parlay should pay 13:5, and a three-team one 6:1. That is nothing to scoff at, as these odds provide massive wins.
This article was written in collaboration with NFL gambling experts.