Everything You Need to Know About Betting on Football
With the 102nd season of the NFL upon us, many people are excited about this historic season of America’s most popular sport.
A great way to add to the excitement of watching Football is to place a wager at the William Hill Sports Book at Downtown Grand. If you have never bet on football before or are looking to learn more about it, this guide is for you. This guide will cover everything you need to know about betting on football.
Betting on The Spread
As with many other sports, a large portion of football betting is made on “The Spread,” which is a point value that oddsmakers assign to each team as a method of balancing odds between teams of different strengths. The spread is the amount of points the oddsmakers believe is most likely to separate the winning from the losing team.
For example, in a game between the Kansas City Chiefs and the New York Jets, if the oddsmakers believe that the Chiefs are most likely to win by 4 points, the spread will be set at 4. The Kansas City Chiefs being the favored team will be shown as -4 and the New York Jets as the underdog will be +4. If someone bets on the Kansas City Chiefs at -4, the Chiefs will need to win by 5 or more points for that person to win. If the Chiefs win by exactly 4, the game is a “push” or tie, and the bettor receives their original bet back and breaks even. If someone bets on the Jets at +4, they will win their bet if the Jets lose by 3 points or less or win the game outright. If the Jets lose by exactly 4 points, the bet is also a push.
Sometimes the spread will have a half-point, such as 5.5, which means that no push is possible. The favored team either beats the spread winning by 6 points or more, or they lose by 5 points or less (or lose the game completely), they do not cover the spread. If the spread is zero, the spread is often referred to as “pick” meaning you simply pick which team you think will win. Occasionally, the point spread will change based on how much money has been bet on either team, so what happens if you bet on the Chiefs while the spread was -3 and it moves to Chiefs -4? If this happens, there’s no need to worry, your bet on the Chiefs at -3 remains -3. In fact, if this happens, it means you made a smart wager!
Betting on The Money Line
If you don’t want to bet on the spread, you can make another wager called the “Money Line.” This is a bet on purely which team you think will win, regardless of the score. However, teams are rarely evenly matched. To compensate for this, teams will be assigned a positive or negative value. This value denotes how much of a return your bet will pay if you win. For example, if the New England Patriots are heavy favorites against the Cleveland Browns, the odds will look something like this:
For the positive number, this is how much money you will profit if you bet $100. In this case, if you bet $100 on the Browns and they win by any amount of points, you will receive $300 profit, in addition to receiving your original $100 bet returned. For the negative number, this is how much you need to bet to win $100. In this example, if you bet $400 on the Patriots and they win, you will receive the $100 Profit and $400 original bet, if you bet $100 you will receive $25 profit and $100 original bet, and so on. Sometimes it can be challenging to calculate how much a negative number such as -325 will return, so we recommend using this handy sports betting odds calculator.
+/- Odds With the Spread
These positive and negative betting odds are also assigned to games with a spread. For example, the listing in many sportsbooks will read as follows:
Miami Dolphins +2 (-110)
Las Vegas Raiders -2 (-110)
This means that if you bet on either team, you will receive -110 odds on your bet. These odds will usually return a strange amount, for example, a bet of $100 at -110 would return $90.90 profit. A nifty trick that you can use is to bet $110, so you will receive a nice even $100 profit!
Are you looking to win a large amount of money without a lot of risk? Then Parlay betting is for you. A parlay bet is a bet with two or more wagers. The more wagers you make, the higher the payout you will receive. However, all your bets must be correct to win. The amount of the payout depends on how many wagers you make, as well as the odds on those wagers.
A Parlay that bets on 3 heavy favorites to win will have a much lower payout than a parlay that bets on 3 underdogs. What makes parlay betting fun and potentially very rewarding is that the pay odds are exponential. For example, a $100 bet on a three-bet parlay (commonly referred to as a “3 Teamer”) with bets on each wager at -110 odds, would pay around $595 while a four-bet parlay or “4 Teamer” would pay about $1,200!
Parlay odds can get quite complicated, so always consult a Parlay Calculator before making any bets (This calculator is only to be used as a guide, always check betting and parlay odds with the Downtown Grand sportsbook before finalizing any wagers).
The NFL Season Is Just Around the Corner!
If you’d like to get started with football betting, the William Hill Sports Book at Downtown Grand is taking bets! We wish everyone the best of luck!
Disclaimer(s): The handicapping, betting and odds information (both sports and entertainment) found on dowtowngrand.com is strictly for entertainment purposes. We do not endorse illegal online gambling. Before placing any wagers with any of the links advertising betting sites, please check the online gambling regulations in your jurisdiction, as they do vary. Know when to stop before you startⓇ. Gambling problems? Call 1-800-GAMBLER in NJ or 1-800-522-4700 in NV