Reading NFL betting odds like a pro takes practice and a solid understanding of the different formats and terminologies used. Whether you’re new to sports betting or looking to refine your skills, this guide will help you get started with confidence. This article breaks down the essentials of reading odds, so you can place your bets with clarity.

Understanding Moneyline Odds

Moneyline odds represent the simplest form of betting. They indicate which team is favored and by how much.

• Example: Chicago Bears +150 vs. Green Bay Packers -170.

The negative number indicates the favorite. In this case, the Packers are favored to win. To win $100 on the Packers, one must bet $170. Conversely, the Bears are the underdog as shown by the Bears Game Odds. A $100 bet on the Bears yields $150 if they win.

Decoding Point Spreads

Point spreads level the playing field by adding or subtracting points from a team’s final score.

• Example: Chicago Bears +7.5 vs. Detroit Lions -7.5.

A spread of +7.5 for the Bears means they can lose by up to 7 points and still cover the spread. A bet on the Lions requires them to win by at least 8 points to cover the spread.

Totals (Over/Under) Explained

Betting on totals involves predicting the combined score of both teams.

• Example: Chicago Bears vs. Minnesota Vikings Over/Under 45.5.

Bettors decide if the total points scored by both teams exceed (over) or fall short (under) of 45.5. If the final score is 28-20, the total is 48, making the over bet a winner.

Reading Decimal Odds

Decimal odds are more commonly used outside the United States but understanding them is beneficial.

• Example: Chicago Bears 2.50 vs. New Orleans Saints 1.60.

The decimal format shows the total payout rather than just the profit. A $100 bet on the Bears at 2.50 returns $250 ($150 profit plus the original $100). A $100 bet on the Saints at 1.60 returns $160 ($60 profit plus the original $100).

Implied Probability in Odds

Understanding the implied probability behind NFL odds helps assess the risk and potential reward.

• Example: Chicago Bears +200.

The formula for implied probability is 100 / (odds + 100). For +200, the calculation is 100 / (200 + 100) = 0.333, or 33.3%. This indicates a 33.3% chance of the Bears winning according to the odds.

Parlay Bets for Bigger Wins

Parlays involve combining multiple bets for a larger payout.

• Example: Betting on the Bears +150 and the total over 45.5.

Both outcomes must occur to win the parlay. If the Bears win and the total score exceeds 45.5, the payout is significantly higher than betting on each event individually.

Shopping for the Best Odds

Sportsbooks often provide different odds for the same games. Checking multiple platforms allows bettors to find the best value, which maximizes potential returns. Seeking out the most favorable odds ensures you get the highest payout for your bets.

Conclusion

Mastering NFL betting odds involves understanding various formats and calculations. By learning to read moneyline, point spread, and totals odds, as well as converting decimal odds and calculating implied probability, you can make more informed bets.