The National Football League is one of the biggest sports organizations in the United States of America, being worth several billion dollars. As the name suggests, the NFL is the main governing body behind American football in the United States. There are 32 teams that compete under the NFL, and the standard season goes for 18 weeks, with a three-week pre-season.
American football is the most popular sport in the United States, at least when it comes to number of viewers, fans and bettors. In this article, we would like to take a look at a few things, that we thing everyone should know before they start betting on American football. We will also give a few pointers to new bettors who want to try their hand at NFL-based betting.
How to Read Odds
Before you start your betting journey, it is important to know what betting odds are and how to read them. Now, there are several different ways that odds can be presented, but in this article, we are going to focus on the American way to make odds. It is worth noting that, if you are interested in betting on American football, the NFL week one odds are out already on various online sportsbooks like DraftKings.
Some might find the American odds confusing at first. However, once you get the hang of it, they are easy to understand. You see, American odds are based around $100. They are usually displayed as negative numbers, and these numbers signal how much you need to bet in order to win $100. For example, if you see -200, this means that you need to bet $200 in order to win $100. Naturally, this does not mean that you must bet $200 in order to play. You can bet as much or as little as the website / sportsbook allows, and the payout will scale to proportion.
When the odds are displayed as a positive number, however, are underdog bets. These odds are meant to explain how much cash you will get when you win a $100 bet. So, for example, if you bet $100 on +200 odds, your winning payout will be $200, on top of your original $100. Just like with the negative odds, this will scale depending on the value you bet.
There are other models of odds that you can find on some sites, such as the fractions and decimals. You have to know that there is no difference in the calculation of your potential win. However, if you are not sure how to calculate the decimals or fractions, you can easily convert it into the American system.
The Track Record of the Teams
The next thing you need to know is the track record of teams that compete in the National Football League. Now, there are 32 teams that play in the NFL, and it is a bit too much to ask that every bettor know the track record of each and every team. However, there are a few teams that rise to the top every year. Most of the bookmakers will display favorites to win the season before the season has even started, and it is important to take a look at the history and track record of these teams, in order to make better decisions.
In this section, we are going to take a look at a couple of teams that usually manage to rise to the cream of the crop. Starting with the Green Bay Packers. One of the oldest and most beloved franchise in the NFL, the Green Bay Packers remain as the only community-owned, non-profit team in the League today. They are among the most successful franchises, having won 13 titles (the most in the NFL’s history).
When it comes to 2024/23, the Green Bay Packers remain in the top 5 favorites to win the Super Bowl. However, the number one spot goes to the Buffalo Bills, whose successes in the past year and during the pre-season, has made them the odds-on favorite to win. Should they do so, they will have won their first ever Super Bowl.
The Different Kinds of Bets
Lastly, we would like to spend a brief time talking about the different kinds of bets that can be placed. Most people think of betting as a simple “bet X to win”. And while it certainly is true that these kinds of bets are popular, there are also quite a few different types of bets that can be placed. Apart from money line bets, players of American football can also place point spread bets, totals, and some more exotic ones like parlays or teasers.
Having a Strategy is Crucial
Before you determine the tactic you will use when you want to bet on NFL games, there are some important factors to be aware of. First of all, you will need to focus on the analysis of the following games and pay attention to different factors that can affect the results. ]
The key aspects of each game are the form of the players, current position on the table, previous games, potential injuries, importance of that match, and more. All of these things could affect the result and even lead to surprising outcomes. For example, you didn’t pay enough attention and you simply decided to bet on a team that has a better position at the moment. However, there might be some issues related to that team, which can lead to losses.
The most secure model of betting is to choose favorites. Before you create a combination of several teams, be sure that there are clear indications that they will win. Also, you should know that the odds for this option are much lower, but will provide a great winning probability.
On the other side, it can be interesting to try and catch a surprise by betting on an underdog team, but you should never invest too much money in this option. If you want to play more often, it can be a good idea to combine both betting on favorites and trying to catch a big win by placing money on underdogs.
The amount of money you are spending is also very important. Keep in mind that this can be very attractive and even addictive. Therefore, it is not a rare case that some players lose their focus and start spending more they can afford.
In that matter, be sure to always determine the amount that you can spend without any problem. One of the best approaches you can choose is the progressive strategy where the point is to control the amount of money according to your previous performances.
For example, you can start with $50, and place it on a combination of games where you can win $100. If you win, you will use the same amount again. However, if you lose that bet, you can increase the value to a certain amount like a unit of $10, $20, or double.
If you are a fan of NFL, and you have your favorite team in this league, placing money on it from time to time will make the experience much more exciting while you are watching the game. On the other side, if you are focused on betting only for profit, it could be a mistake to be too emotional and bet only on your favorites.