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The popularity of the NFL might be unique to the United States, but that doesn’t make it any less spectacular. With an average TV viewership of 16.5 million, the NFL is a national phenomenon that brings people together, and, like any sport of this scale, it draws the interest of many enthusiastic bettors.
If you’re a massive fan of the NFL and want to take your passion to the next level, betting on it is a great idea. In fact, NFL betting is the most popular sport to bet on in the US!
It might seem a bit intimidating in the beginning, with all the many types of bets available, but if you do your research and gain a solid understanding of the basics, your journey will start on the right foot.
Becoming a successful bettor and making a profit out of it starts with finding out the right type of bet for you. There are many options to choose from, and you’d be wrong to assume that you can simply pick one at random and hope for the best.
Although luck will always be a huge component of NFL betting, one that makes it all the more exciting, you can mitigate some of the unpredictability by working on a long-term NFL betting strategy that matches your experience and appetite for risk.
If you don’t know where to start, here are the most popular NFL bets, along with their pros and cons.
Moneyline bets are the most straightforward type of bets, and they’ve been used since the 70s. This means that every sportsbook that supports the NFL offers moneyline betting, so you won’t have to look very far for this option.
It doesn’t matter if a team wins by one point or 20; as long as you predicted the outcome correctly, you win. Keep in mind that moneyline bets include the overtime too.
Well, if you’ve wagered on baseball or hockey before, you’ll be familiar with the format, because moneyline bets are traditionally used for these sports too.
They’re not at all difficult to understand, but the most important factor here is profitability.
Experienced bettors aren’t huge fans of moneyline bets because, unless you bet on the underdog and the underdog wins, profits are pretty small.
That doesn’t necessarily have to be a bad thing, though. As a beginner, small but safe winnings are the way to go, so if you don’t want to take major risks, moneyline bets are an excellent gateway to NFL betting.
One of the most exciting parts before the start of the NFL season is the anticipation.
..And that’s the main idea behind NFL future bets.
As the name suggests, future bets imply betting on events that you believe will happen in the future. Unlike single-game wagers, whose outcomes are decided in a day or a week, future bets span across a long time, usually the entire season.
If you don’t like the idea of researching every individual game and placing bets every week, future bets are a fantastic alternative because you make one wager once and then wait and see how things will play out.
Compared to other types of bets, futures do require a lot more research, since you’re trying to estimate their long-term performance, not just the next game.
While future bets can be very profitable, you need to keep in mind that a lot of things can change during the season, and this option is not for emotional NFL fans.
Also, factors such as wins, losses, injuries, trades, and free agent acquisitions can change the odds.
Short for “proposition bets,” prop bets are another type of bet that has nothing to do with the outcome of the game and instead focuses on aspects of a team’s or player’s performance:
win totals, MVP and Rookie of the Year awards, how many touchdowns a player will throw, and so on.
There can even be hundreds of possible prop bets during a game! Prop bets are especially popular during the Super Bowl, where fans can bet on details such as the singing time of the national anthem, the coin toss, whether or not there will be overtime, or a defensive touchdown.
It’s a really fun betting type, and definitely adds a lot of variety, since it’s not limited to the game outcome.
However, as a downside, the odds are less favorable compared to moneyline bets, and the maximum bet is lower.
The NFL Draft, also called the Player Selection Meeting, is the league’s most common source of player recruitment and one of the most exciting parts of its calendar, so it doesn’t come as a surprise that fans want to bet on it too.
With NFL draft betting, you have to decide between two outcomes, either the Over or Under on draft position or the number of positions to be selected.
In general, the most popular option is betting on which player will be the first overall pick, but you can also bet on their landing spots, draft spots, and skill positions.
Depending on your chosen sportsbook, you can bet on things such as pass completions, field goals, and touchdowns. This bet type will keep you at the edge of your seat, but you’ll have to pay attention to details and act fast.
Some people place only live bets, while others use them in combination with moneyline bets. This way, they can amend their initial prediction and make money no matter what.
As every football fan knows, games can be unpredictable and teams don’t always perform as expected. With live betting, you place bets based on the teams’ current performance, using your feel and intuition.
But live NFL betting isn’t for everyone.
In fact, if you’re a beginner, you might want to stick with more traditional options, because live betting is very intense and fast-paced, and that can be a disadvantage when you don’t know what you’re doing.
Live betting doesn’t give you time for analysis and reflection; you have to make decisions on the spot, and if you’re too nervous and don’t know the sport too well, these decisions might be wrong.
Another thing you should be aware of is that live betting will give you an adrenaline rush. That’s really entertaining, but you still need to keep your composure, otherwise you’ll waste a lot of money and even become addicted to it.
Apart from these popular options, other bet types include:
In this type of bet, you wager on the favorite or the underdog, just like in the case of moneyline betting, with one exception: the team has to cover the point spread, i.e., beat the other team by a certain number of points.
In this case, you make a wager on the total number of points that you think will be scored by both teams. For example, if the sportsbook set the total at 38, the teams must score under 38 points to win the under, or over 38 to win the over. If exactly 38 points get scored, that counts as a push, and the sportsbook will refund your money.
If you’re confident enough on your skills to bet on multiple games, then parlays are the betting style for you. With parlays, you wager on several games on the same tickets. But here’s the catch: all the bets have to be correct, otherwise you lose everything. Although this betting style has the potential to be very profitable, it’s recommended to experienced fans only.
Understanding the most popular types of bets is key in building a successful NFL betting strategy, but that’s not all there is to it.
In fact, rookies have many more questions when starting their journey. In betting, the more informed you are, the higher the chances of success, so here are other details you should know: