In NFL Betting, the spread and total are nice, but there are countless other opportunities to diversify, and mix up your NFL picks. So much energy and computing power is put into generating the spread, but other more exotic bets are out there every Sunday, and they range from parlays and teasers, to round robins and 'if' bets.
Parlays are the most common way to mix up your NFL picks. Although it is abused a thousand more times per day than it is utilized correctly, the lucrative payouts of 300/1 we hear about from time and again make it tempting. A parlay is where you can link up 2 or more picks to enhance your payout. A typical payout for a 2-team parlay is 13/5 and a 3 teamer can be 6/1. These are the highest you should attempt with a normal portion of your bankroll, but hey, who am I to tell you not to bet a 10-team NFL parlay for $5? I do it all the time at Delaware Park, and that wager is 15 teams and $100,000.
However for anymore than that, use the parlay for enhancing underdogs. I love it for this week, because there are several underdogs both home and away that look intriguing. For instance, the Packers and Cardinals are both close to +200, and a 2-team parlay on them both winning outright would net an 8/1 payout from your favorite sportsbook.
Teasers are probably my favorite bet outside of just the spread and total in the NFL, because you can increase the amount of teams just a little. You can also get some nice odds for a two and three team teaser as well, and most of the time in the NFL, three and maybe four teams are as high as I would go. Teasers are parlays that give the bettor points in order to create a much more attractive spread.
For example, this week the Colts are -10 favorites against the Raiders at home, while the Panthers are +3 ½ underdogs. If we used a 7-point teaser and linked these two together, we could then have a parlay that paid -130, which would have the Colts at -3 and the Panthers at +10 ½ in the NFL odds.
These are also called reverse teasers in the betting world, and it’s a wager where you add points to the side you like. These are also abused more than they are utilized correctly, but once again the lucrative payouts make it too tempting for some people. However you can use them correctly weekly.
In Week 1 for instance, the Packers and Cardinals are both +4 ½ underdogs on the road to the 49ers and Rams respectively. If we wanted to make a pleaser out of those two lines, we would have to parlay together the lines of both teams and now lay -1 ½ with both in a 6-point pleaser. However instead of the standard 2-team parlay payout of +265, this two-teamer would net a +600 profit.
Round RobinA round robin is basically a way to bet multiple parlays at once. It is comparable to dog racing when you box dogs if you have any experience in such matters. In a round robin, standard parlay rules apply, and you can bet anywhere between 3 and 10 teams at most shops. The way it works is you take three or more spreads, and combine all the possibilities within them, turning three parlay bets into one big parlay. Although cashes with NFL round robins are rare, they can be used in the right situation.