For Super Bowl 57, sports betting will be allowed in thirty-six US states, the most ever. Those residing in the fourteen US territories that still need to pass legislation that allows this pastime should not fret, as they can utilize various offshore internet sportsbooks that accept American betting enthusiasts.
Individuals that have never wagered on NFL games should know that while overindulging in this pastime does carry financial dangers, if one treats it as an entertainment-driven hobby, there is nothing to fear. In 2022, more than thirty million Americans wagered on Super Bowl 56, and millions more are expected to participate in some NFL championship betting in 2023.
Without question, this practice enhances the viewing experience, boosting it with added thrills. So, for those interested in exploring this option, as the big game transpires on February 13th, here is a quick guide on how to do so.
What Is Live Betting
Also called in-play wagering, live betting is the activity of wagering on a sporting event throughout its duration. Pre-game bets are processed before a contest begins; live ones are taken and go through amidst the action.
Live betting has become increasingly popular over the past few years, with many retail and online bookies allowing this option. This betting method is predominantly found at internet bookies, who can adjust the odds on the fly and present them quickly to bettors. Technological advancements have dramatically altered gambling, and one of the most beneficial evolutions of this pastime is the ability to allow gamblers to bet live. Though many fear this can encourage impulse wagering, any sports betting, like all forms of gambling, is inherently risky. And an undisciplined approach to it can naturally cause harm.
How to Read the Odds
It is vital to know that different odds types exist. Most gambling websites that cater to Americans implement the line format, also called American odds, which feature plus and minuses to delineate favorites and underdogs. Such a technique to communicate who a bookie believes will win an event gets viewed as more complicated than the decimal or fractional odds that European sportsbooks implement.
As mentioned, a minus in front of a number illustrates who gets favored to come up on top in a contest. If the odds for an Eagles win during Super Bowl 57 get listed as -200. That means a gambler who lays downs $200 stands to win $100. If the odds for the Chiefs lifting the Vince Lombardi trophy get listed at +200, a bettor’s wager of $100 will net him $200 in profit if the team from Kansas comes up on top.
Fractional odds are the ones that get implemented at blackjack tables, and if they have gotten set, 3 to 1, betting 10 $ will result in a win of $30 when someone accurately predicts a winning outcome. Decimal odds, however, get shown as one number, the sum of a winning bet that would get collected on a $1 wager.
Types of Super Bowl Bets
The most common wager type in sports gambling is a straight bet, also referred to as the money line. It is one made on a team simply winning the NFL final. No more than that. A parlay is when multiple bets get made on the same slip. They multiply each other, and for a ticket to produce a payout, they must win.
Totals are another rudimentary wager category. It is betting on the number of points scored in a game. It has two options, over and under. These are self-explanatory. Wagering the under means that a bettor estimates the total score will be below a specific amount, and the over predicts that the opposite will happen. The point spread represents the bookie’s best guess at the numerical separation between two competitors’ scores, and it is another wagering option.
Proposition wagers are something that inexperienced gamblers like to go for, and it is betting on various aspects of a game or some event not directly connected to it, such as the color of the Gatorade used in the winning shower. There is no extra guide on making prop bets for the Super Bowl online, as these options get bunched in with the regular markets on an event.
Strategies for Super Bowl Betting
According to most veteran bettors, the safest action is to make a simple straight wager on who will win the final. Prop wagers to consider are who will score the first touchdown, who will win the MVP award, and betting the over/under.
As a rule of thumb, it is wise to avoid parlays and not get overzealous with taking chances on more than a couple of props.
To Sum Up
Live Super Bowl betting can be fun if participants remember to keep things elementary. And only wager what they can afford to lose, looking at this activity as entertainment only.