Every year, the Super Bowl is always the most wagered sporting event. In this article we break down key betting terms and phrases so you can place winning NFL Picks on Super Bowl 50.
This year's Super Bowl kicks off this Sunday at 6:30 PM ET on CBS. This is the most televised event of the year and there's no sporting event with more legal or illegal money gambled either. Whether they bet on the Super Bowl at a casino in Las Vegas, at online betting sites like Bovada and 5Dimes or in office pools. Last year's game produced a record $119 million, that's just how big it is.
So before you place any bet, here are a few key terms and phrases related to betting on the Super Bowl.
What Is A Spread?
The spread for Super Bowl 50 is currently set at 5.5 points on the NFL odds board at most online sportsbooks monitored by SBRodds.com. The Panthers are the favorites and the Broncos are the underdogs. If you bet on the Carolina Panthers as 5.5-point favorites and they lose or win by fewer than 5 points, you will lose your wager.
If you bet on the Denver Broncos to cover the +5.5 spread, like fellow SBR writer Jason Lake predicted (you are expecting them to lose the game by fewer than 6 points) and they win the game or lose by 6 or fewer points, you will win your bet.
How Are Spreads Determined?
Oddsmakers set the point spread based on who they think bettors will view as the better team. Their goal is to get an even amount gambled on each team. The sportsbooks want to get the same amount of money for each team so they can earn a profit on the spread. Since BetOnline or other sportsbooks take a percentage of each bet, or vig, if the wagers are split 50-50 between the two teams they will profit from the vig. According to SBR's consensus report, 57.72% percent of the wagers placed are on the Panthers.
Can Spreads Change Before the Game?
Yes. For example, the opening line for Super Bowl 50 had the Panthers as 3.5-point favorites. The betting public supported Carolina strongly with their Super Bowl picks, so the sportsbooks raised the number like SBR's Jay Pryce explained, hoping to even out the money involved with the Broncos. If everybody bets on the Panthers and they cover, the sportsbooks lose.
What Is A Moneyline?
You can also place a bet on which team will win the game straight up without the need to cover a spread (also known as a bet on the moneyline). Next Sunday, the Panthers are at as much as -246 on the moneyline, which means that if you risk $246 on the Panthers, you will win $100. The Broncos are listed as high as +206, which means that if you bet $100 you will win $206. If you bet the moneyline on Broncos, you will win more money than if you bet them on the spread because you are predicting Denver to win the straight up and not just lose by no more than 6 points. If you like the Panthers to win you will get worse NFL odds (and win less money) on the spread than if you place a bet on the moneyline.
What Is The Total?
The point total for Super Bowl 50 is set at 45 points at 5Dimes. Betting on the total or the over/under means that you can wager on whether the Panthers and the Broncos will combine to score more than 45 points (over), like SBR handicapper Doug Upstone predicts, or less than that number (under).
What Is A Prop Bet?
Super Bowl 50 has numerous prop bets you can wager on. Prop bets take individual events within or related to the Super Bowl and allow you to bet on them. Props can be based on the on-field action, like the total passing yards for Cam Newton or Peyton Manning. However, for Super Bowl 50 these bets can also be incredibly random. Jason Lake looks at the most exotic props for Sunday, while SBR contributor Kevin Stott listed the top props for Super Bowl 50.