Betting the Point Spread
Betting on the spread is by far the most popular options for football bettors. Basically a pointspread is a number the oddsmakers come up with to even out the playing field of the two opposing teams.
If you've ever bet on basketball, the concept is exactly the same. Essentially, the favored team will spot the underdog squad a certain amount of points. For example, let's say the Steelers are 7 point favorites over the Lions. If the Steelers (-7) wins the game by more than 7 points, Steelers' wagers will be winners. If the Bills (+7) win the game outright, tie or lose the game by six points or fewer, Lions' wagers will cash. Now, if the Steelers win by exactly 10 points, both Steelers and Lions wagers will be graded as a ‘push '(tie) and wagers will be refunded.
Betting the Total
Also known as the Over/Under, the Total is the total number of combined points that the oddsmakers think the two opposing teams will score. The bettor can either bet on the Over if he thinks the total number of combined points will exceed the Total or he can bet the Under if he believes that the number of combined points wont exceed the total.
Say the odds-makers list the Total for the Lions vs. Steelers game at 56 points. If you think the two teams will combine to score more than 56 points you should bet the Over. The other side of the bet is, if you think they'll combine for fewer than 56 points, you should bet the Under. If the final score is 21-20, Under wagers will be graded as winners while Over wagers will lose; since only 41 points were scored.
Betting on the Money Line
If you want to just bet which team will win the game, money line wagering is the way to go. It doesn't matter what your team wins by, as long as they win the game. The money line is not always available to bet though.
Although the concept is as easy as it gets, understanding the odds is a little tricky, so pay attention. Next to the favored team on the betting slip will be a minus sign (-) followed by a number. This number, the odds, simply tells you how many dollars you'd have to wager to win $100. The underdog will have a plus sign ( ) next to a number. This indicates the dollar amount you'll win if you bet $100.
So, let's say the Vikings are -160 favorites over the Bears whose odds are 130. If you think the Vikings will win the game outright, for every $1.60 you bet, you'd win $1.00, as long as the Vikings win. Now, if you think the Bears will pull an upset, you'd win $1.30 for every $1.00 if the Bears do in fact win the game.
As you can see, you can play it safe and increase the chances of winning your bet by backing the favorite. Or you can go for a bigger payout by betting on the dog.
