Betting on NFL playoffs & the Super Bowl
Betting action particularly ramps up during the NFL playoffs and the Super Bowl. In addition to wagering on the individual matchups, you’ll also find wagers for which teams will win the AFC and NFC Championship Games as well as the eventual Super Bowl champion.
The Super Bowl is one of the biggest annual sporting events in the world, with 123.7 million U.S. viewers tuned in for Super Bowl LVIII in 2024; estimates from the American Gaming Association indicate more than $20 billion was wagered on the Big Game.
Part of the reason Super Bowl betting is such a major event is because there are many more prop bet markets than at a regular football game that don’t require a thorough knowledge of the game, teams, and players. For example, some of these props include the result of the opening coin toss, the length of the National Anthem performance, or the color of the sports drink poured on the winning head coach.
How can you read NFL odds?
Reading NFL odds correctly is a frequent tripping point for new football bettors. However, by keeping two key details in mind, you’ll be a master at understanding them in no time.
Say the Los Angeles Rams and San Francisco 49ers are playing each other on Monday Night Football. The moneyline odds for the game might read as “Los Angeles Rams +150 at San Francisco 49ers -170.”
In this example, it’s important to note the “+” sign and the “-” sign. The Rams have a “+” sign next to their name, which means they are the underdog (that an L.A. win is the less likely outcome); on the other hand, the 49ers have a “-” sign next to their odds, indicating they are the betting favorite (the team that is expected to win).
The next thing to consider is the numbers after those symbols. Betting on the underdogs yields higher returns for the same stake but carries a lower likelihood of winning; the inverse is true for betting on favorites.
Next, to calculate how much money you would win betting on either team, look at the number after the +/- symbol. If you wagered $100 on the Rams and L.A. won, you would win $150 and receive a $250 payout.
Conversely, wagering on the favorite (the 49ers) means you need to bet more money to win a similar amount. In the example above, you would need to wager $170 on the Niners to win $100 (thus leading to a $270 payout). If you wagered $100 like the Rams scenario and San Francisco won, a $100 stake would only win $58.82 and pay out $158.82.
Tips when betting on the NFL
When you’re finally ready to head to the sportsbooks or gamble via a mobile betting app, keep these expert tips in mind when betting on the NFL.