If you’re a fan of the NFL and like to wager on the games, then you’ve probably noticed that the odds seem to be a little more promising at the booksie than at the online betting sites. That’s because when placing bets on the NFL, you’re usually dealing with well-known bookmakers who calculate everything in cash, so there’s no need to worry about credit cards not working or the like.
This is going to be a short article about what -$ in betting means, because I assume that if you’re reading this, you’re already familiar with the concept. But just in case you’re wondering, a -$ betting means that you’re paying $100 to win $100. Or, to put it another way, you’re getting a $100 payout for every $100 you wager.
NFL Playoff Odds
If you’ve been following the blog for a while, you’ll know that we frequently cover the NFL. This is mainly because, as a general rule, we don’t recommend betting on sports as a way to make money, but the NFL is one of the rare exceptions. Not only is it widely accepted that NFL odds are one of the better bargains offered by online booksie, but it’s also one of the most popular sports to wager on.
As we’ve established, a -$ football means that you’re paying $100 to win $100. But what’s interesting is that most online sportsbooks don’t actually offer those kinds of odds for the NFL. Here’s a screenshot of the latest NFL odds from 3Dimes.com. As you can see, they don’t have any -$ odds listed for the conference championship games.
In fact, the best odds that you’ll generally find on most online booksie for the conference championship games are -130, which means you have to wager $130 to win $100. That’s rather unfortunate, because the majority of bookmakers hate covering those games because they’re so darned hard to predict. One thing the NFL is known for is unpredictability, so it’s not like there’s any shortage of bad bets on those games.
More Than Just Cash
If you’ve been active on the forums at all, you’ll know that there’s more to betting than just getting your money back. You can actually make real money off betting, as long as you know how to play the odds correctly. And that, as we’ve discussed before, is completely different from playing with real money.
The biggest misconception about betting is that it has to be done with cash. You know, the kind you can actually feel in your wallet? Well, that’s only half the equation. If you want to make money off betting, you’ve got to do it in the right way, which means finding a trustworthy bookmaker who offers good odds and is willing to take your money. You’re then going to want to make sure that you study up on the games and have enough money to cover wagers. It’s a lot more complicated than just getting your money back, but it’s also a lot more fun.
Fixed Odds vs. Variable Odds
If, for some reason, you prefer to stay away from the booksie and go with some of the smaller, independent operators, you’ll be wanting to make sure that you’re getting what’s known as variable odds. These are the odds that change according to the score of the game. So, for instance, if you wager on a game in which the spread is 7 points, and the game ends up being a blowout, you’ll want to make sure that your winnings are going to adjust properly.
On the other hand, if the game is more competitive and you happen to score an upset, you’ll want to make sure that your payout is going to be as high as possible, considering the odds were in favor of the underdog.
More Than Meets The Eye
Inevitably, we’re going to run into people who try to trick us into betting on their behalf. And, if you’re the kind of person who enjoys coming up with new ways to make money, then you’re definitely going to want to stay away from those kinds of people. For instance, there was the guy who tried to convince us that the San Francisco 49ers were going to beat the New England Patriots this year. He told us that we could make millions off this year’s Super Bowl and even promised to split the winnings with us if we would just back him. But as it turned out, the Patriots were almost as good as predicted and beat the 49ers, 27-16. The guy who bet on that game didn’t end up being able to cash out, and neither did we.
Play The Favorites
Believe it or not, there are a lot of people out there who try to get other people to wager on their behalf. We call them vultures, and it’s mostly because they walk the earth looking for people to prey on. These are the kinds of people who will place bets for you, promising that the odds are going to be very favorable, when in reality they’re giving you a way to lose money. And the worst part is, you probably won’t even notice that you’re being led around by the nose until it’s too late and the losses pile up.
The first and foremost rule when it comes to betting is to never, ever bet against the odds. Unfortunately, that means you’ll have to steer clear of the majority of the bets out there, because most of them are going to be terrible investments. Remember, you’re almost always better off backing the favorite, particularly if it’s a team you’re familiar with. For example, if the Steelers play the Falcons this year and you’re a fan of the Pittsburgh team, then you’re going to want to back them, even if they’re one-half favorite. That’s because, when all is said and done, there’s more than one way for the Steelers to lose this year’s game. They could have an injury-plagued season or have Le’Veon Bell skip out on the season completely. They could lose a lot of close games this year.
Pay Close Attention To The Spread
As we’ve established, most -$ bets mean that you’re paying $100 to win $100. And the majority of those bets are going to be in sports like the NFL where the spread is usually pretty high. What that means is that you have a better chance of winning if the game is close. For example, last year, there were only 31 regular season games that ended within 7 points. And out of those 31 games, only 11 of them were won by the team that had the smaller spread. So, in other words, you’re more likely to win money if the game is close. That’s why it’s a good idea to back the underdogs in sports like the NFL where close games are more common. It also explains why you should never bet against the Vegas consensus for an important game. If you do, you may find that your money is not going to be placed back in your own account as quickly as you might expect.
Bottom Line
So, what does -$ in betting mean? Well, if you’re reading this, then you’re already aware of one important fact – that it means you’re paying $100 to win $100. But even if you’re not, it’s a good idea to keep that in mind whenever you find yourself in the situation of having to wager on an NFL game. It just means that you’re going to have to do a little bit more work to get your money back. Not that it’s not worth it. It’s just that when you have to physically go pick up your winnings, it kind of defeats the purpose of gambling if you have to go above and beyond what was needed to place the initial bet.