The NFL betting culture slightly varies in different places, even when you bet on online sportsbooks. Some of the terminology and practices being used are different. However, what matters in the end is just NFL betting and that it is not so difficult to figure out. This article contains information on the different NFL odds. Before looking at the Las Vegas Odds NFL Sportsbook, you need to learn these fundamental things first.
Types of Odds You Can Bet on When Looking at Las Vegas Odds NFL Sportsbook
Regardless of where you are when placing your NFL bet on an online sportsbook, you will use American odds at some point. You may already know these odds if you have used the moneyline to place your NFL bet. American odds and moneyline are used interchangeably, but they are not really the same thing.
Take a look at these betting lines:
Team A +3 Team B -3
The first Team A is favorites to win at home, and regardless of the team you pick, you need to bet $11 for you to win $10.
Team A +3 (-120) Team B -3 (+100)
To bet on Team A, you are betting $120 to win $100 ($12 bet to win $10), while a Team B bet is even money. In American odds, you will usually see +100 rather than -100, but they are basically the same.
This is not quite common in Las Vegas Odds NFL Sportsbook, but since NFL betting has been expanding, this is the odds you will mainly work with when you are betting from anywhere in continental Europe. Along with moneyline and fractional odds, decimal odds are a common way to do fixed-odds betting.
Team A 1.23
Team B 5.00
When betting on NFL games with decimal odds, multiply the number on the right with your wager, and this is what you will win. Team A is the favorites, so if you bet $100, you will get $123 in return, or $23 in profit. Team B is the underdog, so if you bet $100 for them, you would win $500, or $400 in profit.
Ireland and the United Kingdom commonly use fractional odds when betting on NFL games, but you may know this type of bet regardless of where you live. When you hear someone say “nine to six” or “five to two,” these are fractional odds.
The best times to see these odds are during preseason. Before the season starts, a sportsbook would create a list of odds for all 32 teams for the Super Bowl. Usually, the favorite would be 5/1, which means if you bet $100 on the favorite and the win, you would win $500 in profit.
However, heavy favorites are not essentially the best value on preseason market. In general, NFL betting experts choose teams that have longer Super Bowl odds, perhaps a really promising team at about 18/1, rather than 5/1. After all, it is hard to win a championship, so they might as well go with the higher profit.
Now, when you check Las Vegas Odds NFL Sportsbook, remember these types of odds because they are the basic concepts on NFL betting.