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How to read Super Bowl 56 Odds
The Kansas City Chiefs lost to the Tampa Bay Buccaneers in Super Bowl 55. However, the Chiefs remain the favorites to win Super Bowl 56 at SoFi Stadium in Inglewood, California.
The Chiefs are listed at 6/1 odds (Bet $100 to win $600), while the defending champion Buccaneers are the third-betting choice at 10/1.
In between Kansas City and Tampa Bay are the Green Bay Packers, who are currently at 9/1 odds.
Here is a quick reference on Super Bowl odds for the upcoming 2021 NFL season.
How to read NFL Las Vegas Odds
The point-spread was developed to provide a balance for both teams involved in a contest to entice bettors to potentially back the weaker team and receive points. The two squads in a game are listed with a title, either a favorite or an underdog. The favorite is usually the perceived better team in the game, as backing them means giving up several points.
The favorite is always listed with a minus (-) sign before the point-spread while the underdog is labeled with a plus (+) label.
Ex. Favorite -10, Underdog +10
On the VegasInsider.com odds page, there is another number associated with the favorite and its listed as -10. This number is simply defined as vig or what many in the sports betting industry call vigorish. Another common term is called juice and its technically the price the bettor has to pay on a straight wager.
Ex. Bet $110 to win $100 (10% juice)
Ex. Bet $100 to win $90.91 (10% juice)
It's not uncommon to see other values posted other than -10. Examples seen on the NFL Vegas Odds pages could include -08, -12, -15 and -20. The -10 price is the most common value in the industry while many books offer reduced 'juice odds' and that would fall into the -08 category.
The lower-juice sportsbooks are normally found outside of the state Nevada. If you are in a state where sports betting is legal, please check out our online sportsbook directory to find the best and most secure places to make NFL bets.
Another number thats posted on the NFL Las Vegas is the total or over/under for the specific matchup. If the favorite is designated as the home team, then the total will be listed above and vice versa if the visitors are favorites.
All of the above numbers are listed next to the teams, and before each matchup is a Rotation number. The NFL Las Vegas Odds are listed in order of rotation and those numbers are generated and produced by the sportsbooks. Above each matchup and rotation is the Time of the game, which is subject to change. All game times are Eastern Standard Time.
NFL Open Line
One of the best features on the NFL Vegas Odds is the Open Line. This numbers consists of the first betting line received from one of our Las Vegas or Global Sportsbooks. The opening line varies depending on the sportsbook but it provides a clear-cut rating that the oddsmakers use. If youre betting on the NFL or any other sport, its a great idea to view the open line first.
VI Consensus NFL Line
The VegasInsider.com Consensus NFL Line is just as important as the Open Line and also a key resource on odds platform. The Consensus column could be called a Median Line since it shows the most consistent number provided by the sportsbooks on VegasInsider.com. The consensus line will be the same as the open line but once the wagers start coming in, this number is often different than the openers.
How do I bet on the Super Bowl?
We know that you can bet on the Super Bowl and all of NFL Futures or bet on the NFL Draft at any time of the year, but whats the process? The future wager or the Odds to Win bet on the Super Bowl is correctly selecting a team to win an event that takes place at a later time. A bettor will have his wagered money tied up until there is an outcome and bettors will receive fixed odds when they place the wager. In the case of the Super Bowl, youre not a winner or loser until you see zeros on the clock in the final game.
Most sportsbooks offer different ways to read to Super Bowl Odds. In the fractional NFL Futures Odds format below, you simply take the odds and multiply by the amount wagered.
Ex. Green Bay (8/1) to win the Super Bowl
The Packers are listed as an 8/1 betting choice to win the Super Bowl. If you wager $100 on Green Bay to win the NFC and they capture the championship, then you would win $800 (8 ÷ 1 x 100). Your online betting account would then credit your account $900, which includes your win and stake ($100).
The American Format would see Green Bay listed at +800 and for the Decimal Format, the Packers would be 9.00.
If you are in a state where online betting is legal, we encourage you to check out our sportsbook directory to find the most trustworthy and reputable sites and mobile apps to place your Super Bowl bets.
NFL POINT SPREADS EXPLAINED:
The NFL is the most wagered upon sport in North America and it's not even close. I will spare you the grand introduction and lead you right into the mean and potatoes of this article. If you are a novice bettor who is just learning how to bet on the NFL, keep reading. If you understand the common concepts like money line, spread and totals wagering, you can skip down to the advanced wagering options by clicking here. If you want to know how to lay a few bets down on the futures market, I suggest you click here.
Betting on the NFL Money Line
As a concept, this is the simplest wager you can make on any game in any sport (except soccer). The money line betting option allows you to place a bet on the team you think is simply going to win the game. In the NFL, this bet includes overtime, but there have been a few instances where the game finishes tied at the end of OT and both sides get their money refunded.
Example:
Chicago Bears: +150 ML
Minnesota Vikings: -200 ML
The money line betting odds correlate to the listed point spread. In this example, the Vikings are the favorites and you must wager $200 dollars to turn a profit of $100. If you are a homer or love betting on the underdog, the Bears will return you $150 for every $100 you wager on them if they pull off the upset. If the game happens to end in a tie, bettors with money line tickets on either side will be refunded.
Betting on the Point Spread
Regardless of if I am talking about the NFL, CFL, NCAA, Arena League or upcoming XFL, the point spread is the most popular wagering option for bettors who love to test football betting skills. The point spread is an indication of which team is the favorite and underdog heading into their matchup.
A negative betting line such as -2.5 indicates that the team is expected to not only win the game outright, but win by three or more points. On the flip side, positive betting lines such as +2.5 indicate a team's underdog status. Not only is the underdog expected to lose, but they are expected to lose by at least a field goal
When looking over betting options for the NFL, you will come across lines that look like the following:
Chicago Bears +2.5 (-110)
Minnesota Vikings: -2.5 (-110)
Depending on which side you select, your team must 'cover the spread' in order for your wager to be graded a winner.
If you choose to take Chicago +2.5, you will be a winner if either of these three scenarios play out. The first being Chicago wins the game outright by any score. The second being Chicago loses by two or fewer points, thus 'covering' the +2.5-spread. And the third being if the game finishes as a tie.
If you decided to wager on the Vikings as -2.5-point favorites, they must win by three or more points in order for wager to be graded as a winner.
One thing to keep in mind when betting on the point spread is that the point spread moves up or down depending on how much action a certain side is receiving. If you are able to lock in your bet at -2.5 and the line goes down to -1.5, your ticket would only be a winner if your team won by three or more points. If they won by two, they would have beat the closing spread of -1.5, but your odds are locked in from the time your ticket is printed or you click place bet.
Betting Game Totals
Despite being classified as the same sport, the NFL and CFL couldn't be more different. The NFL is played on a much smaller field and gives teams three downs to make a first down before electing to punt. The NFL is generally a much lower scoring league than the CFL, but that doesn't mean that betting 'unders' are the way to turn a profit in the NFL.
When looking at betting an NFL total, there should be three things you take into consideration. The first being the weather. The second is both team's offensive and defensive numbers. And the last thing is the intangibles such as is it a short week, does a team have injury problems, travel delays, etc.
Let's look at an example of a game total:
Chicago Bears/Minnesota Vikings – 'Over' 38.5 -110, 'Under' 38.5 -110
If you are to bet the 'over' 38.5, there must be a total of 39 points or more scored in the game in order for you to be a winner. If there are 38 or fewer points scored, then those who bet on the 'under' will cash their tickets.
If totals are whole numbers such as 38 or 40 and the total happens to land exactly on the number, your bet, regardless whether it's an 'over' or 'under' bet, will be graded as a push and your money will be returned to you.
Advanced NFL Wagering Options
The NFL is the most popular sport in North America to wager on. It draws in the most money among the four major sports and there should be no surprises why. Sportsbooks offer up an endless amount of wagering option to go along with the most common three wagering options; money line, spread, total. Here are some of the popular options.
Team totals
Nfl Lines Week 3
This works almost exactly like the game total, but revolves around one team instead of both. With the 'team total' wagering option, you are essentially betting on whether you think Team X will score more or less than the line given out by the sportsbooks.
Example:
Chicago Bears Team Total: 'Over' 16.5 -110, 'Under' 16.5 -110.
In this case you have two options. You can bet them to score 17 or more points or 16 or fewer. The decision is ultimately up to you. This bet also includes overtime, unless otherwise stated in the betting rules provided by your sportsbook of choice.
First Half Spread
The 'first half spread' betting option is a trickier form of betting the full-game point spread. This option takes into account the score at half time in order to determine a winner. The first half spread is usually half of what the full game spread is.
Example:
Chicago Bears +1.5 1H
Minnesota Vikings -1.5 1H
Depending on what side you are on, the score going into half time is what is used to determine a winner. If the score is 17-14 in favor of the Vikings, bettors holding a Minnesota -1.5 1H ticket are winners since they were able to cover the -1.5- first-half spread.
As I mentioned above, the first half point spread is typically half of what the full game line is.
Player Props
Betting on NFL player props is a tricky situation since not all football games go according to plan. If you believe Quarterback X will complete more than 22.5 passes, but his defense scores twice and they are blowing out a team, the chances of him reaching 23 completions is very low. He will just simply hand the ball off and run out the clock.
If you think a running back has a distinct advantage of going up against a poor run defense, you may take that running back to go over the posted rushing yards line. However, if the team with the poor defense gets a sizeable lead, you can almost forget about it. That team will go into throwing mode and the running back will be the one to suffer.
Examples:
Tom Brady: 'Over' 22.5 completions -110, 'Under' 22.5 completions -110
Jay Ajayi: 'Over' 74.5 rushing yards -110, 'Under' 74.5 rushing yards -110
Antonio Brown: 'Over' 4.5 receptions -110, 'Under' 4.5 receptions -110
For each of these three player prop options, each player must go 'over' or 'under' the posted line. If you think Brady will complete at least 23 passes, you would take the 'over'. If you think Brown will be held to four or fewer catches, you would bet the 'under'.
First Touchdown Scorer/Anytime Touchdown Scorer
This proposition is the most popular when Super Bowl rolls around. For one reason or another, people always make a big deal about who is going to score the first touchdown in the Super Bowl. I get that the first touchdown is important, but rarely does a game end with only one touchdown scored.
Nfl Lines Week 13
If you wager on the First Touchdown Scorer prop your goal is to (obviously) pick the player who will score the first touchdown.
First Touchdown Scorer Example:
Rob Gronkowski +400
Danny Amendola +500
Brandin Cooks +650
Jay Ajayi +750
Alshon Jeffery +1200
Nick Foles +3300
Tom Brady +4400
Anytime Touchdown Scorer Example:
Rob Gronkowski -150
Danny Amendola +120
Brandin Cooks ++300
Jay Ajayi +350
Alshon Jeffery +400
Nick Foles +2500
Tom Brady +3000
As you can see, the 'any time touchdown scorer' odds drop drastically compared to the first touchdown scorer. But with this prop, your player can score a touchdown in any quarter, including overtime in order for you to cash your ticket.
Futures Bets
A futures bet is a wager placed in the time leading up to the start of the event on a team or player that you believe is going to win their respective competition. Heading into the 2018 NFL season, the Super Bowl futures odds look like this:
Super Bowl LIII Champion: New England +500, Philadelphia +750, Green Bay +1200, Minnesota +1200, Pittsburgh +1400, San Francisco +1600, Los Angeles +1800, New Orleans +1800, Jacksonville +2000 etc.
In order for you to successfully cash your ticket, you must correctly choose the team that will hoist the Lombardi trophy at the conclusion of Super Bowl LIII.
Team Win Totals
This is another popular type of futures bet amongst pro handicappers. The concept is straight forward. Every sportsbook will put out a 'win total' for every team long before the season begins. Handicappers must simply decide whether they believe that team will exceed the posted win total or fall short of it.
Example:
Pittsburgh Steelers Win Total: 'Over' 11.5 wins -110, 'Under' 11.5 wins -110
If the Steelers go 12-4 or better, the 'over' would cash. If they go 11-5 or worse, the 'under' would cash.
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