Sports betting is enjoyed by millions of people across the United States and around the world. One of the most popular markets of all is NFL betting.
There is no better way to demonstrate its prevalence than by checking out the number of wagers that are placed on the Super Bowl season after season. As reported by CNBC back in February 2021, the American Gaming Association estimated that a whopping 7.2 million (online only) people got involved in Super BowlLV betting. This translated to a crazy $4.3 billion being gambled in total.
These figures broke records and this was only possible due to the spate of gambling legalizations that have taken place across the US in recent years. These developments have meant more people than ever have been able to get involved in the online gambling community.
If you have not yet joined in the fun, you might be wondering how you can start betting on the NFL too. It may seem intimidating at first but as the one-stop guide below will make you realize; it really could not be easier.
How to bet on the NFL
The first thing you need to do if you want to start betting on the NFL is find an online betting site. There are plenty of different operators to choose from and each will try and tempt you in with enticing sign-up offers.
The easiest way to cut through the noise and select the right betting site for you is by comparing all the offers quickly by using OLBG.
Once you have chosen a betting site, create an account and head over to the dedicated NFL bettingpage.
Types of NFL bet
Moneyline
Moneyline is a great bet to start with if you are new to NFL betting. Here, all you need to do is select which of the two teams will win a certain match. Bets extend to overtime, with any ties after the additional period resulting in bets being returned.
There are pros and cons to Moneyline betting. As we’ve mentioned, its simplicity makes it perfect for novices to pick up without any issues. However, as it is a two-outcome market, the odds are often low. This means that you will have to place a higher stake in order to get a sizable return.
Point spreads
Also popular in sports like basketball and rugby, points spreads make it easier for you to back the underdogs in a match. Each team is allocated a point-handicap.
For instance, if the New England Patriots are favorites, they would be handed a -5.5 handicap. This means they would have to win by six points in order for your bet to come in. Meanwhile, the less fancied in the match would get a +5.5 point handicap. This means that as long as they lose by five points over less, your bet would pay out.
Points spreads can be a good way to spice up your betting once you master Moneyline. Again though, the odds can often be not that appetizing.
Point totals
With points totals you are not concerned with predicting which team will win. Instead, you need to determine how many combined points the two sides will score.
For this bet research is key, as two defensively minded teams are less likely to light up the scoreboard than two free-flowing offensive units. This can be a good bet to place if you are not sure which of the teams will win the contest.
Outright NFL betting
A final NFL market punt that is well worth getting to grips with is outright betting. There are tens of different outright markets out there and it may take some time for you to find your favorite.
A popular option is predicting which player will win the MVP award. If you do opt for this market, make sure you make your selection nearer to the start of the season if possible. The deeper you go into a campaign, the less attractive the odds are likely to be.
Outright betting is also available for teams. Betting on the Super Bowl winner is obviously a possibility, but Conference Winner, Best Record and Most Points markets can be played too. The sheer volume of choice makes outright betting extremely rewarding, while you can also get some great odds if you time things correctly.
Biggest NFL betting payouts ever
With NFL betting so popular, it is little surprise that it has produced some truly unbelievable payouts in the past. Super Bowl LV was no different to usual with several punters enjoying some incredible wins.
One lucky punter bagged $2.714m profit after staking over $3m on the Tampa Bay Buccaneers securing the win, while another BetMGM user pocketed $2m following the Bucs’ victory.
There are plenty more examples of bets of this magnitude and we expect some more high rollers to get involved at next year’s Super Bowl.
