NFL Gambling Rules

There are millions of dollars wagered on NFL games each season. Despite the popularity of gambling on sports, only two states, Nevada and Delaware, according to the Professional and Amateur Sports Protection Act of 1992, allow it as of 2009. There are different types of gambling such as straight wagering, total over-under wagering, and parlays. Along with these various options, there are sets of rules that must be followed for a bet to remain legal in these two states.

An Official Bet

1. Once the first 55 minutes of play in an NFL game is completed, all bets placed are considered official. A "no action" ruling is ordered on all bets if the required amount of minutes is not completed.

2. Bets on either the first or second half are considered official once the respective period has concluded.

3. Spread bets, money line bets, and over/under bets always include overtime scoring.

Straight Betting

Straight betting is done through what's known as a spread. A spread is a range of outcomes. A person may bet for the favorite, the team predicted to win based on the spread, or for the underdog. Here is a basic example:

The Pittsburgh Steelers are favored by 3 1/2 points over the Arizona Cardinals in the Super Bowl.

The betting line will look like this:
FAVORITE: PITTSBURGH (-3 1/2) - Underdog: Arizona (+3 1/2)

If a person wants to straight bet (or bet the spread) on the Steelers, Pittsburgh must win by 4 points or more for the bettor to win. If the Steelers win by 3 points or less, or if they lose, the bet is also lost. If the spread had been a whole number, such as -7, a bet may be rendered void if the game ends with a 7 point difference, despite if you bet for the winning or losing team in the game. That's known as a push and the bettor just receives his money back. Spreads can change at any moment based on the amount of money being bet on either side. Once you've made your bet, however, the spread is locked in for that particular bet.

Over/Under

Betting the over/under is one of the simpler methods of gambling on NFL games. This is a wager on the final combined score of both teams. You are betting on whether the two teams playing in a particular game will score more or less than a particular number. For example:
The Green Bay Packers are playing the Chicago Bears. The OVER/UNDER is 42.

Let's say you choose the over in this case. If the Packers and Bears score a combination of points that totals more than 42, you win. If not, you lose. If the final score totals 42 exactly, it is a "push" or "no action" and you receive back the amount you originally bet.

(Note: A wager on the whole game or just the second half will include overtime points. A wager on just the fourth quarter will not include overtime points)

The Money Line

In Money Line gambling, sometimes known as "fixed odds" gambling, you bet solely on who you think will win or lose, disregarding the game's spread. The line consists of positive figures, negative figures, and in some cases, even figures. For example:

The New York Giants are playing the Dallas Cowboys. The Money Line is:
New York Giants -260
Dallas Cowboys +210

The positive spread is how much money will be won on a $100 wager.
The negative spread is how much money needs to be wagered to win $100.
Even odds are usually quoted as a straight $100 wager to win $100.

So, if you bet on the Giants here at -260, whatever amount you wager will be proportionate to a wager of $260 to win $100. If you bet $100 on the Cowboys at +210, you have a chance to win $210.

The Parlay

The parlay is one of the bigger gambles. You must select a package deal that consists of two or more outcomes. You must correctly predict the outcome in all games of the parlay to win the bet. You may bet however you'd like on any game. For example, in a three game parlay, you may bet the spread for one game, the over/under for another, and money line for the final game if you choose to do so. Remember, If just one game in the group is picked wrong, the parlay is then lost. The more amount of teams in the parlay, the greater the payout will be.

Payouts for parlays are generally standard but may vary slightly depending on sport, or whether you are betting for the spread or for the money line.

2 teams at 13-5 (or 2.6-1)
3 teams at 6-1
4 teams at 10-1
5 teams at 25-1
6 teams at 40-1
7 teams at 75-1
8 teams at 150-1

As you see, the odds increase for the more teams involved in the parlay. You can parlay more teams than shown, but of course the risk increases with the more teams involved. For example, if you bet $100.00 in a 2-team parlay, you betting to win a total of roughly $260.00 back

Teaser Wager

A "Teaser Wager" in football allows you to alter odds up or down in your favor, commonly played on a scale of 6, 6 1/2, or 7 point teasers. The bet consists of minimum two teams and maximum 7 teams. A teaser is similar to a parlay in that all picks have to be correct to win the bet. However, the larger the teaser you use, the less money you may win. For example:

You would like to pick a two-team bet with a 6-point teaser. The New England Patriots are playing the Buffalo Bills in game 1. The San Diego Chargers are playing the Oakland Raiders in game 2.

Line:
FAVORITE- PATRIOTS (-7) - Underdog- Bills (+7). Patriots favored to win by at least 7.
FAVORITE- CHARGERS (-3) - Underdog- Raiders (+3). Chargers favored to win by at least 3.

Let's say you want to pick the favorite Patriots and the underdog Raiders. With your 6 point teaser bet, your betting line is now the Patriots at -1 and the Raiders at +9. Now, instead of the Patriots needing to win by more than 7 points for you to win the bet, they now must win by more than 1 point. Instead of the Raiders needing to not lose by more than 3 points for you to win the bet, they now just need to not lose by more than 9 points.

"If" Bets

This type of bet involves at least two games. Let's say you picked two teams that are favored. For example, the Atlanta Falcons are favored over the Seattle Seahawks and the Tampa Bay Buccaneers are favored over the Carolina Panthers. You bet $110.00 on the Falcons in order to win an additional $100.00. You also bet the same for the Buccaneers over the Panthers.

Outcomes:
1. If the Falcons win, you continue to the second game. If the Buccaneers win, you win your additional $200.00.
2. If the Falcons win, you continue to the second game. If the Buccaneers lose, you lose just $10.00.
3. If the Falcons win exactly by the listed spread, you get back your original $110.00 and continue to the second game.
4. If the Falcons lose, the bet stops and you lose $110.00.

References

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