Football Betting Guide | How to Bet on Football

Understanding how to read odds may seem complicated at first, but it is actually super simple. Let’s start by going over the format. U.S. sportsbooks will use the American odds system by default. This format uses positive and negative numbers to represent the value of a bet. 

Here's an example:

If you look at moneyline odds, you will usually see one team with positive odds (the underdog) and one with negative odds (the favorite). Positive and negative numbers in American odds relate to $100 bets. For negative numbers, the odds refer to how much you have to wager to win $100. Positive numbers tell you how much money you will win from a $100 bet. 

In American odds, the lower the number, the smaller the return. So, the team with lower odds is the favorite to win. In the case of totals (over/under) bets, the side with the lower odds is the most likely outcome. 

Before learning how to bet on football, let’s go over some common terms that you will see:

• Vig: This is short for vigorish, essentially the house edge. Vig is incorporated into every bet. Think of it as a small fee the sportsbook charges for using its services. It’s also often called “juice.”
• Cover: When you bet against the spread, you are betting on the margin of victory. If a team wins by more than the spread, they have “covered” it. 
• Push: A push is essentially a tie that invalidates your bet. It doesn’t mean you lose, though. If your bet results in a push, you get your money back. 
• Even Money: A bet that pays out exactly as much as you wager is called an even money bet. In American odds, even money bets are listed at +100. 

The American football betting market is one of the most diverse. NFL games, for example, regularly have hundreds of unique bets available. 

Here are some of the most common types of football bets you’ll find:

If you can’t tell by the name, live betting (also called in-play betting) is when you bet on a game in progress. This differs from traditional pre-game sports betting, but the principles and bets available are still the same.

What is different, though, is the excitement level. Live betting sites provide some the most fun and engaging ways to bet on football. This is because the odds change depending on what’s happening in the game. 

However, because it’s so exciting, live betting is also riskier since you are more likely to have your emotions involved. The best way to bet on football live is to keep a level head and watch the odds carefully. You must also be decisive and place your bet before the odds change again. 

The traditional three main betting markets–moneyline, points spread, and totals bets–are also the most common live bets. However, player and team props are also available for live betting. 

There is no one answer when learning how to bet on football and win. However, there are many football betting tips and strategies that you can use to increase your chances of winning. Here are some of our best football betting tips we suggest you know before you start betting on football. 

Now that you know some of the best football betting strategies, here are some things to avoid when betting on football for the first time:

Overvaluing Favorites

A lot of new bettors start betting by only backing favorites. In theory, this makes sense. After all, the favorites are going to win more often than not. Otherwise, they wouldn’t be favorites. The problem with this strategy, though, is that it’s often not worth it.

For example, if you put $100 on a team that is -500 favorites, you’re putting up $100 for the chance to win just $20. The risk is simply not worth the reward.

Betting Without a Strategy

Whether having a complicated bankroll management system or a basic betting strategy, you must have some guiding principles to stick by when you bet. Doing this can help you get the most bang for your buck. It can also stop you from betting with your emotions instead of your head. 

Chasing Losses

The worst thing you can do when you’re on a losing streak is to put a lot of money on an underdog or a big parlay. These bets have long odds for a reason. That’s because they are not likely to hit. If you’re on a losing streak, the best thing you can do is stop betting, assess your football betting strategies, and try again once you’re ready. 

Ignoring Value Betting

It’s no secret that sports betting is designed for the sportsbook to win in the end. With the vig incorporated into every bet, the house always wins. It doesn’t have to be like that, though. Value betting refers to finding bets that are undervalued by the sportsbook.  

Ignoring these bets and not seeking them out are some of the biggest mistakes new bettors make. Part of the reason for that is because it requires some effort and a little bit of knowledge about the sport itself. Trust us, though – the effort is worth it. 

Whether you are betting on football or some other sport, responsible gambling should always be on your mind. Before you bet, set a budget and consider adopting a bankroll management strategy to limit your spending. Once you have a plan, stick to it. Make informed bets, don’t go over your budget, and never wager more than you can afford to lose. 

If you feel yourself struggling or are just on a big losing streak, consider taking a break for a while. Having time away from football betting can help you reassess your strategies and determine if you have a problem.

A good place to start with responsible gambling is using tools made available by sportsbooks. All the best betting sites allow you to set wagering and deposit limits on your account. You can also set time limits or opt-in timeout periods. 

Sportsbooks will also have links to outside resources to help people with gambling problems. You can find them linked under "References" at the bottom of this article.