NFL sports betting terms:
Alternate lines:
Every NFL game has alternate lines, as sportsbooks post different spreads and totals with adjusted odds. For example, if a team is favored by one touchdown, many sportsbooks will offer odds on the team to win by at least 10 points instead.American odds:
American odds are the most common odds used in the NFL, with the moneyline indicating the amount of money needed to win $100 (favorite) or the amount that a $100 wager would pay (underdog). This is one of the three main types of betting odds.Closing Line:
The final odds posted when the game begins is the closing line. The live odds will then start to shift after the game begins and will generally continue until the game is over.Consensus:
The consensus line is a combination of odds from the top sportsbooks. If a team is a 7-point consensus favorite, it means that most oddsmakers have the team favored by seven points.Decimal odds:
Decimal odds, also called European odds, are one of the other formats used to present betting odds. They represent the amount of money someone would win for every $1 wagered.Favorite:
The favorite is the team expected to win the game outright. Favorites have a negative sign in front of their spread and money line odds.Fractional odds:
British (fractional) odds are the final type of odds used in sports betting. They are the ratio of the profit won to the stake, as a 6-1 underdog would pay $6 for every $1 wagered.Futures:
These can be some of the most interesting odds to monitor, as they relate to things such as championship winner or division winner. Most sportsbooks update their futures odds on a weekly basis, giving fans a chance to see how their team stacks up in the eyes of the oddsmakers.Home-field advantage:
One thing that is a factor in every NFL game is home-field advantage, which changes the odds based on which team is playing at home. Some teams have a bigger advantage than others, as their crowd noise or location can adjust the odds more significantly than others.Hook:
If the betting odds have a half-point attached to them, that is called the hook. The hook makes it impossible for the betting result to end in a tie, as NFL games do not have half points.Juice:
Also known as vigorish or vig, the juice is the amount factored into the odds by oddsmakers. An American odds bet of -110 contains $10 of juice for every $100 wagered.Line movement:
NFL odds generally do not move as much as other sports due to the accuracy of the betting market, but they still feature line movement due to various reasons. Weather, injuries or large bets are all reasons for line movement on NFL games.Money line:
The money line is the odds related to the winner of the game with no point spread involved. Favorites have negative odds, while underdogs have positive odds in an American odds format.Oddsmaker:
Someone who sets betting odds and lines is an oddsmaker. Some oddsmakers create their own betting odds (originators), while other oddsmakers copy odds that are already in the market.Over/Under:
This is one of the primary sets of odds used for the NFL, with the number representing the expected points scored in the game. These are also used for some futures odds, such as how many games a team will win in a season.Pick’em:
If neither team is favored, the game is called a pick’em. The betting odds have not determined a favorite or an underdog, so they are usually good games to watch.Spread:
The point spread levels the playing field between two teams, as it is the number of points the favorite is expected to win by. The favorite is designated by a negative spread (-7), while the underdog has a positive spread (+7).Underdog:
Unless a game is a pick’em, every NFL contest has an underdog, which is the team that is expected to lose. They are denoted by a positive number in the betting odds.
