There was a time when sports betting wasn’t permitted in the US. Because PASPA was repealed back in 2018, this has now changed.
States can now make up their own rules, with most of them now allowing their residents to legally place sports wagers. Even states which don’t permit this may enable people to offshore.
In New Jersey, residents are permitted to place bets in both brick-and-mortar establishments and their choice of 15+ betting sites accepting their wagers.
What are the Main Types of Bet You can Place on the NFL?
Wagering on American football is relatively simple. After looking at a list of current games and upcoming events, players pick which team they’d like to bet on, plus the amount based on the odds listed.
There are different forms of bet that can be placed, affecting how much a player could receive in winnings. An excellent place to start is with the easy types of bet. These include money line, point spread, totals and over/under bets. Here’s what you need to know about each one.
Money Line. A money line bet is perhaps one of the easiest types of bets to both understand and place. A player simply chooses how much they’d like to wager on a team they believe could win the game. This choice is influenced by the odds of winning and how much a player could potentially earn. While these odds are usually listed by the sportsbook themselves, there is no shortage of other sites that display this. While this type of bet is easy to place, it doesn’t offer a particularly strong return. To determine the best choice, players should look for teams with minus signs, indicating they’re more favourable to win. In comparison, teams displaying a plus sign next to them are expected to lose, so they should be avoided. However, ‘plus’ teams pay out more than ‘minus’ ones.
Point Spread. While being a much more common type of bet, it is more complicated than a money line wager. Players must bet on a particular team to win within a certain amount of points. Bets are encouraged for both teams, as spreads are arranged to create an even playing field between them.
Total Bets. Players aren’t concerned about which team wins or loses when they place a bet on a total. Instead, the bet’s outcome is determined by the total number of points scored by both teams. Specifically, players have to guess whether the total amount of points scored will be over the specified amount or under.
As More Sportsbooks Get Established, the Popularity of Live Betting Improves
There are now hundreds of online bookmakers, many of which offer plentiful betting options and favourable odds. Betting online is an easy way to make cash, particularly if you love the game.
There are many top-rated sites out there with excellent chances to wager and win that also offer a very secure experience.
The Super Bowl is one of the most popular betting events throughout the entire year. So much so that more wagers are placed on it than any other single event.
Aside from Money Line, Point Spread & Total Bets, what Other Types of Bet are Available?
There are quite a few. They include things like futures, teasers, proposition bets and parlays. As well as in-game betting where wagers can be placed as live games are taking place, so players know the latest odds.
Here are the main types of bets you can make on the NFL.
Prop Bets. This kind of bet is when a player bets on something that doesn’t actually impact the game’s outcome. For example, some form of oddity or something to do with a player or team.
Live/In-Play. As the game is still in play, live or in-play bets are when someone wagers on odds as this is happening.
Parlays. This form of bet allows a player to combine multiple betting lines to achieve the best payout possible. However, players must be careful. Just one loss results in losing the entire wager.
Teasers. This is similar to a parlay wager. However, lines can be changed around by the player. For example, when betting on a two-team teaser, a player might decide to change the spread by six points in their favour.
Futures. With a futures bet, players have the opportunity to place their bets on NFL odds weeks or even months before the game takes place. The result of this is achieving a much better payout. This is usually based on whether a team will win or not.
Hundreds of Online Sportsbooks Now Exist in America to Meet Demand
Historically, sports wagering wasn’t allowed in the US. However, this has now changed, and individual states can now make their own rules.
The majority now allow sports wagering, either online or in brick and mortar establishments. This is the case for New Jersey.
Because of the popularity of sports across America in general, bookmakers have latched on. Hundreds of sportsbooks now exist online, and they are hugely popular. Particularly with significant events like the Super Bowl.
If you want a piece of the action but are new to sports betting, you should consider the easier types of bets. These include money line, point spread and total bets. You might want to then move on to more advanced bets in future once you’ve mastered the basics.