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Whether you like to bet on the NFL, CFL, or the college level, football is one of the most popular sports to place bets on. It’s far and wide the most popular in the United States, and while hockey is the obvious most popular sport to bet on in Canada, football is up there.
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A moneyline bet is a straightforward wager on which team will win the game, regardless of the point difference. In this bet, the favorite is indicated by a minus symbol (-), and the underdog by a plus symbol (+). These symbols show how much you need to bet to win $100 or how much you'd win on a $100 bet, respectively. For example, if the New England Patriots are listed at -150, you'd need to bet $150 to win $100. Conversely, if the Buffalo Bills are at +116, a $100 bet would net you $116. Before placing a bet, you can select the team and enter an amount to see the potential payout.
Point spread betting involves wagering on the margin of victory. The favorite must win by more than the specified points, while the underdog can either win outright or lose by less than the spread to cover. For instance, if the Patriots are favored by 6.5 points, they must win by 7 or more for a bet on them to succeed. If they win by 6 or less, or lose, a bet on the Bills would be the winner. This type of bet balances the odds between teams, often resulting in more equal payouts.
These bets focus on specific segments of the game. You can wager on which team will lead at the end of a quarter or the first half. The structure is similar to point spread or moneyline bets but applies only to the designated period. During halftime, live betting allows you to place wagers based on the game's progression, with odds updating in real-time. This dynamic environment offers opportunities to capitalize on shifting game momentum.
Over/Under bets involve predicting whether the total combined score of both teams will be over or under a number set by the bookmaker. For example, if the total is set at 45.5 points, betting the over means you expect 46 or more points to be scored; betting the under means you expect 45 or fewer. Payouts are typically similar for both options, reflecting the balanced nature of these wagers.
Prop bets allow you to wager on specific events within the game, such as individual player performances or particular occurrences. Examples include betting on the number of touchdowns a player will score, total field goals made, or whether a specific player will achieve a certain statistic. These bets add an extra layer of excitement by focusing on elements beyond the final outcome.
Futures involve betting on events that will be decided in the future, such as which team will win the Grey Cup or the Super Bowl. These bets often offer higher payouts due to the increased uncertainty and longer time frame. Placing a futures bet requires careful consideration of a team's long-term prospects and potential developments over the season.
A parlay combines multiple bets into a single wager, allowing for a higher potential payout. However, all individual bets (legs) must succeed for the parlay to pay out. For example, combining bets on the Patriots to win, the Bills to cover the spread, and the total score to go over a certain number creates a parlay. While riskier, parlays can be enticing due to the amplified rewards.
Live betting, or in-play betting, allows you to place wagers during the game as it unfolds. Odds adjust in real-time based on the game's progression, offering dynamic betting opportunities. This format is ideal for bettors looking to capitalize on shifting momentum and emerging trends within the game.
In Canada, decimal odds are commonly used. For example, decimal odds of 2.00 mean that for every $1 wagered, you'll receive $2 if you win, including your original stake. It's essential to understand this format to calculate potential payouts accurately. Some sportsbooks may also offer American (moneyline) or fractional odds, so familiarity with these formats can be beneficial.
Always gamble responsibly. Set a budget, understand the risks, and never bet more than you can afford to lose. Utilize tools provided by sportsbooks, such as deposit limits and self-exclusion options, to help manage your betting activities. If you feel your gambling is becoming problematic, seek assistance from professional organizations dedicated to helping individuals with gambling issues.
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