Reading American Odds for NFL Bets

To truly understand what you are betting on you should understand the odds of the wager you are placing. Although they involve numbers and sometimes mathematical symbols, you don’t need a college degree to read NFL odds. 

If you’ve always struggled to understand American odds and the probabilities implicit in the numbers, then this guide is for you. Our betting experts will explain to you how to read American odds, and how to use those odds with NFL moneylines and NFL spread bets.

Different Types of Odds

There are three main odds formats you may see on a sportsbook: decimal, fractional, and American. American odds are most commonly used by US sportsbooks, which is not surprising, and are sometimes called moneyline odds. 

It would be fair to say that globally this type of odds hasn’t got on, and can be a little unintuitive in comparison to decimal odds. American odds will feature symbols next to their numbers like -225 or +800. This can be offputting, but if you keep reading all of this will become clear and easy for you. 

American Odds Simplified

Sometimes American odds can be difficult to use, especially if you are betting in any multiple other than 10s. If you are betting in 10s American odds are some of the simplest.

The odds use $100 as a baseline and will be presented alongside a minus (-) or plus (+) symbol. Each of these symbols means a different thing in relation to the numbers they are shown with.

• A (-) symbol will be next to the team/player/etc that the sportsbook sees as favorite. The number next to this symbol shows how much money you need to wager to win $100. Therefore, if the number is higher, the more likely the sportsbook thinks the outcome is. The downside with this is you will have to bet more cash to make smaller profits.

Let’s use an NFL example. If you’re betting on the New England Patriots at -140 against the Jacksonville Jaguars, you need to stake $140 dollars for $100 profit.

• In contrast, the (+) symbol will be next to the underdog. The number next to the (+) symbol will show how much money you could win for every $100 you stake. The higher the number, the less likely the sportsbook thinks it is. Sportsbooks try to tempt bettors into backing an upset by increasing the potential earnings you could receive.

Bringing back to NFL betting, say you’re betting on the Detroit Lions +300 to beat the Arizona Cardinals. If you stake $100 and the underdog causes an upset, you will earn $300 in profit.

American Odds on Different Stakes

Of course, you don’t always want to stake $100. Scaling American Odds is easy on certain odds like $10 or $1 bets, but outside of that, it can get tricky. Most sportsbooks will have odds calculators that will work out your profits for you. We recommend using these to avoid confusion.

Moneylines vs. Point Spread

American odds are generally used with moneyline bets, or with a point spread. Our experts will break down both types of wagers for you, so you’re prepared for whatever NFL bets you want to place.

Moneylines

A moneyline bet is what we have used in the examples above. You are simply trying to predict the winner of an NFL game. You will be presented with the odds and that’s it.

To make sure you’ve got the concept we’ll use another example.

• Baltimore Ravens: -150
• Carolina Panthers: +150

The Ravens are considered the favorites for this game by the sportsbook. When you bet on the Ravens to win you will need to wager $15 for every $10 you want in profit. On the other hand, betting $10 on the Panthers will return you $15.

Points Spread

American odds can also be used in combination with a line, like a point spread. When betting on a points spread you aren’t just betting on which team you think will win, but also on the margin of victory. You will need the favorite to win by a certain amount of points, or the underdog to lose by less than that points total or win. 

Let’s look at an NFL betting example.

• Kansas City Chiefs: -5.5 -150
• Atlanta Falcons: +5.5 -150

So when you place your wagers on these bets how much you you receive based on the odds is exactly the same. The only difference is in the example above, the points spread can affect whether you bet comes through or not. If you bet $15 on the Chiefs, you need them to win by 6 points to earn your $10. If you bet $10 on the Falcons, and they lose by less than 6 or win, you will get your $15.

Legal NFL Betting in the US

Now you understand American odds legal US sportsbook will offer you a whole new world of NFL betting opportunities to discover. Since 2018, following the PASPA being struck down, many US states have legalized online sports betting. 

If you are in the borders of one such state you can put your new knowledge to the test. Download a sportsbook app to your mobile device, and place NFL bets using American odds.