NFL Betting Odds Explained

NFL Betting Odds Explained

The NFL 2019 betting odds are there to inform bettors of the likelihood of an outcome and how much money can be won. Beginners to betting on the NFL may find the information on betting odds a little daunting but it is important to know or understand how the odds work in order to bet safely with good chances of favourable outcomes.

How to Better Understand Betting Odds

Probability is an important factor in determining the NFL 2019 betting odds. This means that for any specific event or play there are a specific number of outcomes that are possible. For instance one match will only see two possible outcomes when it comes to betting on which team will win. Other types of bets for the NFL have various other percentages of probabilities.

Most online betting sites will display the odds in either a decimal or fraction format. Bettors have the opportunity to decide which format is better understood. Odds are predominantly used to even out the bets and even though bettors want to know the odds for a favourable outcome the American Sports Betting sites need to even the play field so that money is distributed back into the site. This does not always mean the odds are against bettors.

The Odds of Winning and the Amounts

The predetermined NFL 2019 betting odds can be used to calculate the probabilities of winning. The NFL 2019 betting odds can also determine the amount of money that can be won. The percentage of the total odds of winning are paid out according to the bet, therefore, a one in nine chance of winning will pay out nine times the bet.

Types of NFL Odds

Betting on the NFL does not simple involve betting on which team will win the championship or a specific game. There are a large amount of different aspects of the entire season that can be bet on. Knowing how each one works is also important when betting on the NFL as each betting option has its own set of odds.

Betting types to understand are the point spreads, money lines, overs and under and futures amongst others. When betting on the following season or Super Bowl championship the futures bet can be placed almost immediately after the previous Super Bowl as the odds for the next championship are immediately calculated. This means that bets already placed on any of the NFL 2019 betting odds are firmly set in place but if there are any winning amounts they are only paid out after the outcome.

The 2019 Super Bowl odds of betting on the Oakland Raiders or the Jacksonville Jaguars might not seem like a good idea as the odds of either of them winning the Super Bowl is estimated at 200 to 1. But as history teaches us, there are times where the underdog reigns supreme.

Teams with worse odds have in previous years gone on to actually win the Super Bowl championships. The best odds for winning the 2019 Super bowl are on the Seattle Seahawks with 5 to 1 and next up the reigning champions with 7 to 1 odds is the New England Patriots.