There are very few sports like the NFL. With the build-up of games happening once a week, the anticipation, excitement, and passionate fan bases are like no other when it comes to sports wagering.

From over \ under to futures to prop bets to fantasy leagues there is always something to drop down a couple of bucks on a friendly wager to make the games a little bit more exciting. For those new to NFL betting, take a look through this quick guide of tips and keywords to know prior to placing a bet on your favorite team.

Whether you are a seasoned handicapper with a tried-and-true system or a casual fan looking to dip your toes into the world of sports betting for the first time, the NFL offers a wide range of opportunities to combine your love of the game with the unknown thrill of a wager, adding an extra layer of excitement to every game.

Types Of Bets:

Point Spread – At the beginning of each week, sportsbooks will attempt to even the playing field by assigning a point spread to the favored team. In order to win a spread bet, the favorite must cover the point differential. On the other hand, for the underdog to come away victorious, they must either simply win the game or lose by fewer points than the spread total.

Moneyline – This is a simple betting style in which the team will come away victorious. The favored team will have negative odds (ex: -150) and the underdogs will have positive odds (ex: +130). Placing $100 down on a -150 favorite would cost $150 just to win $100. Betting on the positive number would mean a $100 bet would return a $130 profit.

Totals or Over/Under – Sportsbooks will set a number that they believe will be the total score of both teams combined. Bettors will place money on whether they believe that the final score of the game will be more or less than this total.

Futures – These bets are placed for events that will happen throughout the season, such as which team will win their division or the Super Bowl.

Parlay – This type of bet combines multiple outcomes into a single wager. In order to come awaya winner, all of the selections need to win. For example, a bettor puts down money that the Chiefs (+5), the 49ers (+3), and the Cowboys (-7) will all cover their spreads. Sportsbooks will often provide larger payouts on parlay bets than smaller separate ones due to the risk involved.

Teaser – A teaser allows the bettor to alter the odds to create a new spread that they believe will work in their favor (altering a 7-point spread to a 3-point spread). In this modified version of a parlay, sportsbooks require a combination of two or more bets on a teaser. Teasers will pay out less than a regular bet due to the altering of the line.

Prop Bets – One of the most fun and creative ways to bet during a game, prop bets are often side wagers for events that will happen within a game either by a team or individual player. NFL prop bets can be anything from how many yards a quarterback will throw to who will win the coin toss to the color of Gatorade that will be dumped on the Super Bowl winning coach.

Have A Plan:

Just like each team and coaching staff, you should have a plan before dropping down your hard-earned cash on a bet.

Understanding The Numbers – Sportsbooks and their oddsmakers set the point spreads, money lines, and totals for each game by way of analytics, algorithms, power rankings, and historical trends. Learning how to read and understand these numbers is important to having success. Sometimes you have to bet with your head rather than your heart.

Shop Around – Different sportsbooks will offer slightly different odds for the same game. While it may be beneficial to jump on a line at the beginning of the week, sometimes it pays to wait until close to game time to get better odds. You can find a Colorado sportsbook promo here if you are waging from that state.

Do Your Homework – Just as oddsmakers have to know what’s happening, so should you. Studying team statistics, paying attention to the injury report, recent performances, and matchups play a huge part in coming away with a successful bet. How does a team or player perform in cold weather? Is the team coming off a bye-week or a short week? Does a team play better at home or on the road?

Know Your Limits – Setting aside your “play money” is important and even more important is sticking to it. Only wager what you are willing to lose. Don’t chase the big win when it might be easier to claim smaller victories. If you find yourself on a losing streak, don’t try to win it all back with one emotionally charged big bet that you cannot afford.