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How do NFL betting odds work?
To learn how to bet on NFL games at the best betting sites, we'll take you through an example. For the 2021 season opener between the Tampa Bay Buccaneers and Dallas Cowboys, we've reviewed the main NFL betting odds market – the moneyline:
The moneyline states that the Buccaneers are favourites to win, with their lower decimal odds of 1.34 (or negative American odds of -294). Our NFL betting calculator below will show you that a winning bet of C$10 means you profit C$3.40 plus your wager back.
If you side with the Cowboys, who are the underdogs with odds of 3.3 (+230), a C$10 could see you win a profit of C$23. Play around with our NFL odds calculator to work out other betting markets, as well as convert them to your odds preference.
Popular NFL bets
We'll now take you through the best NFL bets to place and how to read NFL betting lines with some examples. Read on…
Moneyline bets
When you simply want to bet on which team you think will win, look for NFL moneyline bets. To make betting on the underdogs fair, wagers on them will result in a higher payout to compensate you for taking the risk.
The moneyline is part of the NFL betting lines for the game. In our example below, the moneyline for the Cowboys-Buccaneers 2021 NFL season opener is:
Point spread bets
What does the spread mean in NFL betting? Known as NFL point spreads, NFL spreads or handicap betting, this market indicates how much bookmakers think one team will win by and is a way of levelling the two teams as they display the same odds. This kind of bet is also referred to as NFL betting lines against the spread.
For instance, if the Cowboys are +5.5 underdogs, you win the bet if they win or even lose by less than 5.5 points. For the Buccaneers, if the spread is -5.5 then they have to win by more than 5.5 for you to win your bet. NFL point spread betting is explained in our example below:
Totals bets
If you're unsure who will win, you can choose over/under betting odds on the NFL. Over/under odds require you to bet on what the combined score total of a game will be.
For example, if the Cowboys-Buccaneers' NFL over/under betting odds are listed at 52 points, you can choose for the combined total to be over or under that amount. It is best to look at past form and head-to-heads between the teams, and check out expert NFL betting picks.
Prop bets
NFL prop bets or NFL proposition bets are wagers you can place on aspects of the game other than the final outcome. Sportsbooks will often include a couple hundred for each game covering markets such as:
- Who scores the first touchdown for each team
- Over/under for passing yards (and other production related stats) by quarter/half/game
- Halftime score
- NFL prop bets for Divisional outcomes, including: exact finishing order, finishing position per team, etc
- Other common prop bets can be found relating to Super Bowl betting
- Unusual or funny NFL bets can be found at top NFL betting sites, too
- Many NFL combine bets are also prop bets
Futures bets
NFL futures bets are wagers bettors can make on an outcome beyond just a game. These can be bet on before and during the season, where the odds will fluctuate depending on the current standings and stats.
You'll often find the best NFL bets preseason, such as for NFL Championship betting, as this is before a game has been played and all teams are still in contention. Some of the most popular NFL futures odds include:
- Super Bowl winner
- Division winner
- Conference winner
- NFL betting odds to make the playoffs
- NFL MVP winner and other individual player awards
- First pick in the NFL draft
Parlay betting
Online NFL parlay betting, or accumulator betting, gives you the chance to win more money in a single wager by wagering on several games at once. Such bets are made up of selections in which bettors pick an outcome (ie game result, prop bet, etc).
Your potential payout increases with each added leg (and depending on the odds for the desired outcome/result of each leg). But so does the risk. While you can win more with parlays with just a small bet, if just one selection loses then you lose the whole bet.
The best NFL parlay bets will include selections where you pick mainly favourites and with more options. This way, your payout can still be big, but with less risk as most bets are more likely to win than not. It is recommended to always bet small with parlays, as the odds are stacked against you.
Live betting
NFL live betting, or NFL in-play betting, is a newer segment of the sports betting online industry. It gives bettors a chance to bet on aspects of the game while it is in progress.
Depending on how the game is going, the odds may fluctuate far more compared to normal pre-game prop and futures markets to reflect the probability of a particular outcome. Types of bets include the point spread, totals, the moneyline, next scorer and winner of the next quarter.
You can often win big if you feel a team that is losing a certain game can come back and win, as their odds will be more profitable if they are behind.
OGCA's NFL betting tips
We've put together the following NFL betting tips to help you develop a strategy and winning NFL betting picks come game day:
If you are going to bet on a heavy favourite, ie the Kansas Chiefs to win the Super Bowl, the odds are going to be at their longest during the preseason. That means such bets have more value since they are going to result in a higher payout.
Once play gets underway and the Chiefs start winning games, their odds of winning the Super Bowl will get shorter. While you may feel more confident in betting on them when they are 8-0, the payout is going to be significantly less.
Many NFL betting sites in Canada will offer boosted odds on several markets leading into a particular game or week of competition. Taking advantage of the right ones can be a great way to increase your winnings while not taking on additional risks.
For example, a sportsbook may have the odds on a quarterback recording three touchdowns at 2.0, which means there is a good chance it happens. But it also means you have to risk C$10 to profit C$10. If those odds get boosted to 3.0 you stand to win C$20 when you bet C$10.
Let's say you have a feeling that Zach Wilson is going to win 'Offensive Rookie of the Year', but are not confident enough to risk putting down C$10 to win C$100 (his odds are 11.0).
But if you sign up with a top NFL betting site offering a no deposit bonus, you can get a C$10 free bet for this particular bet with no risk from the sportsbook's NFL betting promotions. Remember that there is usually a maximum bet total for free bets.
You may think that since they are an expert, they must know what they are talking about. While they might, you cannot know that with any certainty.
So, go ahead and use them as a starting point, but always do your own homework on a market before putting money down. It is often best to cross reference NFL betting picks from a number of experts or someone that has a good record.
Making money on NFL betting lines against the spread (ATS) is challenging, but is a great way to win if done right. It is best to wait until closer to game time when placing this kind of bet. If the public is betting heavily on one side, sportsbooks will adjust the odds to encourage betting on the other outcome.
In some cases, even if the public is heavily betting one way, sportsbooks will move the line the other way. That is because they know a lot of the sharps have put money on the other side. By learning how to recognize where the sharps are betting, you can increase your chances of winning.
NFL stats & info
Season opener: September 9, 2021
Playoffs begin with Wild Cards Weekend: January 15-16, 2022
Divisional round of the playoffs: January 22-23, 2022
Conference Championship games: January 30, 2022
Pro Bowl: February 6, 2022
Super Bowl: February 13, 2022
More on football
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Football
This is a team sport played by two teams of eleven, competing against one another to
score the most amount of points.
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Super Bowl
An annual championship game of the NFL sees the two finalists battle it out for the
biggest prize in American Football.
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Fantasy Football
This is a game in which you virtually draft a team, winning points based on real life
performances.
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NFL Playoffs
The NFL Playoffs follows the regular season, where a single elimination tournament
determines the overall champions.
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Canadian Football League
This league is the highest level of competitive football in Canada.
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NCAA Football
This American football league consists of teams made up of student athletes.
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Betting Odds
If you want to place a bet on a team to win a match, you will need to locate the
betting odds available on a sportsbook.
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Betting Glossary
From betting types to technical terms, a glossary will help you come to terms
understanding gambling phrases.
FAQs
The National Football League (NFL) is the highest professional American football league consisting of 32 teams. It is divided equally between the National Football Conference (NFC) and the American Football Conference (AFC).
