Beating the Odds: A Quick Guide to NFL Betting
Hello, football fans! I have a quick question for you. How does making money while watching football sound? Awesome? I agree! If you have a few football teams you watch and a slight inkling for mathematics, how about playing the odds?
Spread betting is quickly becoming the most popular system of sports betting across the world. Spread betting isn’t your granddaddy’s “Win or Lose, All or Nothing” type of gambling, spread betting is using probability and statistics to bet on the overall outcome, and more importantly, the accuracy of the wager. If you’re standing there scratching your head, trying to remember all of the remedial math classes you took in high school, you can relax, spread betting is a relatively simple process.
Say you want to try your hand at football odds, excellent! I’ll give an example of how. Say I’m talking to my bookmaker, which websites like Covers usually provide, and he opens a spread that the Cowboys will be at a four point advantage over Green Bay in their next game. Mind you, Green Bay has a seven-game win streak, mainly because of Aaron Rogers’ outstanding talents (19 touchdowns) after a four-game losing streak. The potential gambler (me,) places a bet, I “take the points” for Green Bay. If you bet they win, and factor in Green Bay’s overall score, you beat the spread because the overall score is greater. That’s what we call a slam dunk.
The spread is usually, I usually stress, set up in half point increments/fractions to mitigate the possibility of a tie, or in betting terms a “Push.” If the outcome of the bet is a push, the game is labeled “no action, ” and no money is lost or won. This isn’t a desirable outcome for anyone because the bookmakers must refund all of the bets. This may not seem like a big deal, but if you consider factors such as overhead cost, aka a transaction cost, money will be lost. Lost money is just plain bad for business.
If you do decide to try your hand in NFL odds, make sure you do your research, find a reliable bookmaker, and learn as much as you can about the process of sports betting, you will be successful in this game. So learn, pick your teams, place your bets, and strap in for one wild ride!