Few bettors use fractional odds for betting sports (other than horse racing), because the conversions to understand return are difficult. To calculate winnings on fractional odds, multiply your bet by the top number (numerator), then divide the result by the bottom (denominator). So a $10 bet at 5/2 odds is (10. 5) / 2, which equals $25.
Football brings in more betting handle than any other sport in the US. The NFL regular season presents a schedule of betting opportunities that make the league a unique venture for sports bettors.
Starting with the season’s opening weekend, the NFL plays through a 17-week regular-season schedule each year. Each team plays 16 games with one bye week, and every weekend offers anywhere from 12-16 games open for betting.
The NFL season always brings plenty of surprises, and a team that might seem like a great pick early in the season often ends up as a weekly underdog later in the year.
Bonus.com NFL Odds Calculator
- How are betting odds calculated when a market is open? To calculate betting odds, Canada bookmakers will also bear in mind how punters are placing their money on the market after it has opened. If, for example, everyone opted to place their money on Horse 1 in the above example, the bookmaker would be looking at a huge loss if that horse won the race.
- Sports Betting Odds Calculators. Moneyline Odds Calculator. Convert the amount wagered and the odds into possible winnings. Works in reverse too. Enter the amount you want to win and the odds to see the amount you need to wager. Use American odds -110, +110, etc. Amount to Bet $.
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How NFL Regular Season Odds Are Calculated
The most popular ways to bet on the NFL include moneyline, point spread, and totals betting. Online sportsbooks offer several other ways to bet on NFL games, but it’s important to understand the way fundamental football betting works.
For example, here’s a look at the odds on the Week 13 matchup between the Buffalo Bills and San Francisco 49ers from the 2020 NFL regular season. The lines on that game from DraftKings Sportsbook looked like this right before kickoff:
Point Spread | Totals | Moneyline | |
---|---|---|---|
Buffalo Bills | +1.5 (-110) | Over 48 (-110) | +106 |
San Francisco 49ers | -1.5 (-110) | Under 48 (-110) | -121 |
Point Spread
The point spread listed for an NFL game adds points to the underdog’s final score, or subtracts from the favorite’s final point total.
In the example above, the 49ers stand as a 1.5-point favorite over the Bills. For betting purposes, 1.5 points will be added to Buffalo’s score at the end of the game.
If San Francisco wins 31-30, for example, Bills bettors would win the wager. Buffalo would finish with 31.5 points to the 49ers 31 points.
Totals
Totals bets simply task the bettor with picking whether the final score will end up under or over the listed point total. For instance, the 31-30 San Francisco win we’ve talked about above would result in a win for Over 48 at DraftKings Sportsbook.
Moneyline
Moneyline bets represent a straight-up wager on what team will win the game, with no point spread involved. Winning bets on the underdog pay off at better odds than the favorite, and a big NFL upset can lead to a big payout on the underdog.
Calculating American Odds
Note that all of the lines on the Bills-49ers games offer payout odds listed in American Odds. The -110 seen on both sides of the points spread and totals line represents a bet that pays -110 American Odds.
To calculate “-“ American Odds, divide 100 by the odds number (without the minus sign) and multiply that quotient by the amount wagered.
For example, a $50 bet that pays -110 odds would calculate as (100/110)*$50, which converts to (.909*$50) and then to $45.45. A $50 winning bet on -110 odds would return $95.45 total to the bettor ($45.45 profit plus the original $50 bet).
Calculating “+” odds, like the +106 payout on the Bills moneyline bet, involves a slightly different formula. “+” payouts are calculated by dividing the odds number by 100, then multiplying by the amount wagered to determine the profit.
A $50 bet on the +106 line for Buffalo would solve as (110/100)*$50, which calculates to (1.1*$50) and then to $55.
A $50 winning wager at +106 odds would return $105 total to the bettor ($55 profit plus the original $50 bet).
What Causes Point Spread And Moneyline Odds To Change During The Week?
Suppose the Bills-49ers game showed the 49ers as a -4 favorite at DraftKings Sportsbook a week before the game, but by game day the line showed the -1.5 point spread listed above.
The lines on an NFL game can change as the week goes on, sometimes shifting dramatically. Changes can occur right up until kickoff.
If a sportsbook gets too many bets on one side of a line, the book stands to lose big if that side wins. To combat this, sportsbooks will shift the point spread and moneyline odds one way or another, in an effort to get the right amount of money (from the sportsbook’s money-making perspective) on each side of the game.
What Is An NFL Odds Calculator?
The Bonus.com NFL Odds Calculator provides an invaluable tool for researching the lines on each NFL game. We update the lines each week for all NFL regular season games and compare the odds available at each of the top online sportsbooks in the US.
The NFL Odds Calculator presents a comprehensive menu of point spread, moneyline, and totals bets for every week of the NFL season.
How To Use An NFL Odds Calculator
The toggle menu at the top left of the Bonus.com NFL Odds Calculator allows you to look at spreads, moneyline, and totals lines for all games in the upcoming week of the NFL season.
The “open” column shows the odds on the game at the beginning of the week. You can compare that to the various lines offered by each sportsbook on the right, allowing you to evaluate which way the lines have moved throughout the week.
The best odds on a chosen game are highlighted in yellow, displaying the sportsbook offering the best value on a given bet.
With many states offering multiple different online sportsbooks, research and line shopping are essential aspects of a winning betting strategy. The Bonus.com NFL Odds Calculator puts all of the research you need on one page.
Check back with the Bonus.com NFL Odds Calculator every week to see the latest lines at the top sportsbooks in the US.
Where Can I Bet On the NFL Regular Season And Playoffs?
DraftKings Sportsbook
Football bettors in nine US states can legally wager on the NFL with DraftKings Sportsbook. One of the most popular sports betting platforms in the nation, DraftKings Sportsbook offers its services in the following states:
How Are Football Betting Odds Calculated
- New Jersey
- Pennsylvania
- Indiana
- Iowa
- West Virginia
- Tennessee
- New Hampshire
- Virginia
- Michigan
DraftKings offers several different ways to bet on the NFL each week.
Moneyline, point spread, parlays, totals, and player prop bets represent just some of the ways to bet on NFL games at DraftKings Sportsbook. Live in-game betting, which features rapidly changing lines as the game progresses, opens up even more ways to bet on the NFL.
FanDuel Sportsbook
Another of the most popular sports betting brands in the US, FanDuel Sportsbook presents a comprehensive menu of betting options on the NFL season.
FanDuel Sportsbook consistently offers some of the most competitive weekly point spread, moneyline, and totals odds on the NFL. In-game betting options include live player props, with odds that change multiple times as a game plays on.
FanDuel Sportsbook legally operates in these states:
- New Jersey
- Illinois
- Indiana
- Colorado
- West Virginia
- Virginia
- Michigan
BetMGM Sportsbook
The BetMGM online sportsbook operates as the mobile sports brand offered by MGM Resorts. BetMGM offers legal online sports betting in the following states:
- New Jersey
- Nevada
- Colorado
- Tennessee
- Pennsylvania
- Iowa
- Virginia
- Michigan
Bettors of all experience levels would do well to include BetMGM among their options for betting on the NFL each week. The mobile sportsbook offering from BetMGM includes a robust number of ways to bet each week.
NFL Odds Calculator FAQ
Yes, as long as it’s done from a state-regulated, legal sportsbook. Bonus.com offers up-to-date information on which states have legal sports betting, and what sportsbooks are live in those states.
Some states offer both online and retail sports betting, while others are restricted to just land-based sportsbooks.
Yes. The Bonus.com NFL Odds Calculator is 100% legal, and you can rest assured that sharp bettors across the country are using a tool like this every time they bet.
If you live in a state with several online sportsbooks to choose from, you’re missing out on value and optimized betting strategy if you’re not using an odds calculator.
What kind of bets can I research using the NFL Odds Calculator?
Spreads, totals, and moneyline. The Bonus.com NFL Odds Calculator allows you to toggle among all three of the most popular ways to bet on NFL games.
The latest lines for all three of these ways to bet are on display for the top sportsbooks in the US when you use the Bonus.com NFL Odds Calculator.
How do I find which sportsbook offers the best odds on a game?
The Bonus.com NFL Odds Calculator highlights the best odds for each game in yellow. In most cases, more than one of the sportsbooks listed on the calculator will offer the best odds on a game.
The lines can shift dramatically day-to-day, however, so be sure to check back daily for the updated betting information.
Are all of the sportsbooks listed on the NFL Odds Calculator available in my state?
Some states offer more online sports betting brands than others, and some states don’t allow any kind of legal sports betting.
Check out the Bonus.com guide to online sports betting for a comprehensive outline of what states allow legal sports betting, and which sportsbooks operate in each.
Lots of people that are betting on football underestimate the importance of the odds they’re getting. They understand the main concept of how much will they win with their wagers, but don’t go deep enough and it is one of the main reasons they are losing money in the long run with their football betting. This guide in or series of how to bet on football covers finding value in football bets.
You have to learn to look at the odds as possibilities and pick your bets based on a complex approach that includes a variety of factors. In order to do that, you need to learn how the bookmakers work first. That’s the purpose of this article – to show you the whole process behind football betting odds and give you some tips how to take advantage of the positive value that sometimes occurs.
Of course, the process is not exactly the same with each and every bookmaker out there, but the main principles remain similar.
First Step: Data Analysis
It all starts with analyzing all the possible information out there. The sportsbooks have a bunch of odds compilers and traders who are getting paid to do that. They have the best possible tools and formulas as well which allows them to evaluate the probabilities for each game from a statistical point of view.
Previous results, recent shape, injuries and suspensions, pretty much every significant factor is included to reach the initial evaluation of each game. It’s safe to say that the bookmakers are really good at it, especially when it comes to the most popular football leagues such as the English Premier League, the Spanish La Liga, the German Bundesliga, the Italian Serie A, the Champions League. They attract so much money, that the operators don’t hesitate to invest lots of money and effort to be as close as perfect as possible.
Cash Projections
After the probabilities of each outcome of the football match are determined, it’s time to get to the next step: changing the odds to include the cash projections. The sportsbooks have algorithms based on previous experience that help them predict with a decent success how much money will be placed on each outcome.
This is extremely important since they need to keep a certain balance on each football match. If the money isn’t spread in the correct proportions, they risk losing a fortune and depend on luck way too much. As you could expect, the sportsbooks don’t like losing and don’t like risks.
This is why including the cash flow projections helps them attract money to certain outcomes that usually would see fewer bets if the initial probabilities are the only factor behind the odds. The best examples are the home games of widely popular teams. Let’s take Barcelona or Real Madrid for example. Most people usually bet on them winning and this is one of the main reasons the odds are extremely low and almost never contain value.
The Margin/Juice
At this point, the bookmakers already have a precise idea what to expect from the game and they also know approximately how much money to expect. This allowed them to compile the odds for each market, but they still need to ensure they will be winning in the long run. If they give fair odds, they will be around the break-even point and we all know that’s not the case.
This is where the so-called margin or juice comes in. Simply put, the bookmakers gain an advantage by giving overall odds that are a bit lower that they should. If we take a look at a random two-way football betting market like Over/Under 2.5 goals, for example, we could see that placing proportionate wagers won’t bring your money back in full.
Let’s say both outcomes are with the same probability and there is a 50% chance for each. Fair odds would be 2.00 for both and if you bet 10$ on over and the same on under, you will get 20$ back, no matter what happens. In reality, the prices would probably be about 1.93 and the difference is the bookmaker’s margin.
The percentage varies in each operator and depends on lots of factors. Brick-and-mortar sportsbooks usually have a higher one since they pay bigger taxes, while it’s rather low online. The best bookies on the web have about 3-5% margin on most of their football markets.
Why Do the Odds Change?
The process is now finished and the bookmakers have the odds ready and launch them on their platform. But that’s not the end, as we’ve all seen the prices change before the match starts and the driving factors behind it are usually similar:
- Objective change in circumstances: this could be an injury, a suspension, any other change that might affect the performance of both times and influence the possible outcome of the game;
- Cash flows: the initial cash projections are accurate, but to an extent. Sometimes the expectations differ from reality and the bookmakers have to adjust.
How Is Betting Odds Calculated College Football
Where Does Value Come from?
We’ve explained how the system works and now it is time to take a look how could we take advantage of this knowledge. There are two main ways that value can occur:
Wrong Initial Evaluation
The bookmakers are sometimes wrong in their initial evaluation of the game. That happens rarely, but it happens nonetheless. Despite all of their data and tools available, the sportsbooks are not always perfect. Especially when it comes to minor leagues that don’t attract so many customers. Using all of their powers would mean lots of costs and this is where you can take advantage.
If you know a minor league really well and have some good sources of information, you could beat the bookies. The best examples are fixed games, earlier knowledge of injuries, connections in a certain club and so on.
Betting Odds Calculator Uk
There’s another way to beat the bookies, but it’s much harder. You have to be very good with numbers and find a way to process data better than them. To be honest, this one’s really hard and most people would fail. Unless you are a math magician, you’ll hardly succeed with such an approach.
Beat the Crowd
Since we know how important cash flow is and how it affects the odds, this is the other way to find value. In popular leagues, the money placed could sometimes skew the prices to a point where there is money to be made. When millions go in one direction, the bookies adjust and you could find some good betting options.
How Are Live Betting Odds Calculated
This is the much easier and much more efficient way to find bets with positive expectations. Most punters are not well-prepared and you can get the better of them in the long run.
Conclusion
How Do Betting Sites Calculate Odds
As you can see, the whole process behind the odds is complicated and finding good bets is not easy. It requires a lot of effort, experience and a complex skill set. We encourage you to not limit yourself and try combining different approaches for the best results, especially when you’ve got a sign up bonus to use. Even the slightest edge might be the difference between a winner and a loser at the end of the day.