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Monkey!!
There are several ways to bet football – the straight & money lines, the totals, parlays, teasers, if/win bets, prop bets, futures, progressive parlays, and more. I’ll cover the basics to start and if anyone wants information on the more involved wagers, we can discuss them further as well.
The Straight Line
This is definitely the most common bet. Here the team wagered on must win or cover by the point spread given at the time of the wager. Typically the odds on a straight bet are -110/-110 meaning an $11 winning wager would pay $10. The odds can fluctuate slightly. Sportsbooks may move the odds to -115/-105, -120/even, or higher instead of changing the line to try and even out the money that they are taking in. For example, Cleveland plays at Oakland and currently the Browns are 2 ½ point favorites at -115. That means the Raiders are getting 2 ½ points at -105. Because 3 points is a common number in football, the books will try to attract more Oakland wagers by lowering the odds instead of offering the extra ½ point. If they are still getting more Cleveland money, then the line will move to -3 or higher. The book wants even money on both sides so they can collect their 10% vigorish or commission without worry – remember you must typically bet $11 to win $10. As far as the line goes, if you bet on Cleveland -2 ½, then they must win the game by a field goal for you to win your bet. If you bet the Raiders +2 ½, then they must either win or lose by no more than 2 points for you to win your bet. If the line moves to Cleveland -3 and they win by a field goal, then all bets are refunded that were placed after the line moved. All bets placed at the 2 ½ point spread would remain in play.
The Money Line
Simply put, the team you wager on must win the game. There are no lines involved; however, the odds will vary quite a bit. Money lines are typically offered when straight lines are anywhere from -2 to -10. Anything under -2 and the odds will be the same or close to the -110 straight lines. Anything over -10 and the odds become too great. Sportsbooks only make a commission on money line bets when the favorite loses. For example, the money line on Cleveland may be -150 whereas Oakland would be at +130. If you bet on the Browns, you must put up $15 to win $10. Conversely, if you bet on the Raiders, a $10 wager would win $13. If Cleveland wins, favorite bettors collect $10 while underdog bettors lose $10 resulting in zero commission for the book. If Oakland wins, favorite bettors lose $15 while underdog bettors collect $13 resulting in a $2 commission for the book. The bigger the favorite, the less likely the underdog will win which is why most books won’t offer money lines on spreads greater than 10 points. If you have the bankroll and don’t mind the higher risk/reward ratio, then money line bets on favorites eliminate the chance that a team will win but not cover the spread. Also, if you think an underdog will win the game outright, a money line bet will offer a higher reward if you are correct.
The Total
This is the combined score of both teams. A line is set and you either wager that the total combined score will be under or over that total. Like straight line bets, the odds are typically -110 but can vary slightly in certain circumstances. For example, the total in the Cleveland/Oakland game is set at 34 points. You would wager $11 to win $10 on either the Under or Over depending on how many points you think both teams will score. If the final score is 20-14, then all bets would result in a “no action” and be refunded.
Parlays
Parlays offer a chance to wager on two or more teams (typically up to ten or twelve) on a single ticket or bet. To win, all of your bets must win (or tie). If one team loses, then the entire ticket is lost. Obviously, the more teams that you select, the greater the odds are if you win. This is definitely a low risk/high reward wager. If a team ties, then the ticket reverts back to the next lowest number for payoff odds. For example, if you place a four team parlay and one team ties the line, then the ticket becomes a three team parlay. If you place a two team parlay and one ties, the other team becomes a straight bet that pays 90% of the original wager. Parlay odds can vary especially with offshore books that offer specials, but typically here are the odds for different parlays:
2 teams – 13/5
3 teams – 6/1
4 teams – 10/1
5 teams – 25/1
6 teams – 40/1
7 teams – 75/1
8 teams – 150/1
9 teams – 300/1
10 teams – 700/1
11 teams – 1,100/1
12 teams – 1,800/1
The Straight Line
This is definitely the most common bet. Here the team wagered on must win or cover by the point spread given at the time of the wager. Typically the odds on a straight bet are -110/-110 meaning an $11 winning wager would pay $10. The odds can fluctuate slightly. Sportsbooks may move the odds to -115/-105, -120/even, or higher instead of changing the line to try and even out the money that they are taking in. For example, Cleveland plays at Oakland and currently the Browns are 2 ½ point favorites at -115. That means the Raiders are getting 2 ½ points at -105. Because 3 points is a common number in football, the books will try to attract more Oakland wagers by lowering the odds instead of offering the extra ½ point. If they are still getting more Cleveland money, then the line will move to -3 or higher. The book wants even money on both sides so they can collect their 10% vigorish or commission without worry – remember you must typically bet $11 to win $10. As far as the line goes, if you bet on Cleveland -2 ½, then they must win the game by a field goal for you to win your bet. If you bet the Raiders +2 ½, then they must either win or lose by no more than 2 points for you to win your bet. If the line moves to Cleveland -3 and they win by a field goal, then all bets are refunded that were placed after the line moved. All bets placed at the 2 ½ point spread would remain in play.
The Money Line
Simply put, the team you wager on must win the game. There are no lines involved; however, the odds will vary quite a bit. Money lines are typically offered when straight lines are anywhere from -2 to -10. Anything under -2 and the odds will be the same or close to the -110 straight lines. Anything over -10 and the odds become too great. Sportsbooks only make a commission on money line bets when the favorite loses. For example, the money line on Cleveland may be -150 whereas Oakland would be at +130. If you bet on the Browns, you must put up $15 to win $10. Conversely, if you bet on the Raiders, a $10 wager would win $13. If Cleveland wins, favorite bettors collect $10 while underdog bettors lose $10 resulting in zero commission for the book. If Oakland wins, favorite bettors lose $15 while underdog bettors collect $13 resulting in a $2 commission for the book. The bigger the favorite, the less likely the underdog will win which is why most books won’t offer money lines on spreads greater than 10 points. If you have the bankroll and don’t mind the higher risk/reward ratio, then money line bets on favorites eliminate the chance that a team will win but not cover the spread. Also, if you think an underdog will win the game outright, a money line bet will offer a higher reward if you are correct.
The Total
This is the combined score of both teams. A line is set and you either wager that the total combined score will be under or over that total. Like straight line bets, the odds are typically -110 but can vary slightly in certain circumstances. For example, the total in the Cleveland/Oakland game is set at 34 points. You would wager $11 to win $10 on either the Under or Over depending on how many points you think both teams will score. If the final score is 20-14, then all bets would result in a “no action” and be refunded.
Parlays
Parlays offer a chance to wager on two or more teams (typically up to ten or twelve) on a single ticket or bet. To win, all of your bets must win (or tie). If one team loses, then the entire ticket is lost. Obviously, the more teams that you select, the greater the odds are if you win. This is definitely a low risk/high reward wager. If a team ties, then the ticket reverts back to the next lowest number for payoff odds. For example, if you place a four team parlay and one team ties the line, then the ticket becomes a three team parlay. If you place a two team parlay and one ties, the other team becomes a straight bet that pays 90% of the original wager. Parlay odds can vary especially with offshore books that offer specials, but typically here are the odds for different parlays:
2 teams – 13/5
3 teams – 6/1
4 teams – 10/1
5 teams – 25/1
6 teams – 40/1
7 teams – 75/1
8 teams – 150/1
9 teams – 300/1
10 teams – 700/1
11 teams – 1,100/1
12 teams – 1,800/1
