When it comes to placing Moneyline and point spread bets on the Super Bowl, you must first understand how to read Super Bowl lines.
In this article, we’ll discuss how to read and calculate betting odds into potential wins when you bet on Super Bowl.
General Rules
In sports betting, you’ll find spreads or Moneyline bets. The team that is the favorite to win the game will have a negative sign in front of the odds, and the underdog will have a positive one. The exact winnings that you’ll receive will depend on the type of bet you’re placing and the odds at the time of placing the bet.
Placing Moneyline Bets
These types of bets are straightforward and have the easiest odds, as you’re just placing a bet on the team that you think will win the game. It becomes pretty simple if you base your calculations on 100. The Moneyline bet always shows the money you have to risk to win your bet. For example, suppose the odds are -180 for the Chiefs to win the game. In this case, you’ll need to risk $180 to win $100. So if the Chiefs win, you’ll get a total return of $280.
As another example, imagine the underdog is the Rams, whose odds are at +150. This means you’ll win $150 when you place a bet of $100 for the Rams to win, and you’ll get $250 in return if they win the game.
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Placing Point Spread Bets
Things get a bit more interesting when you start looking at the point spread. Here you can bet on either the winner or the loser.
Oddsmakers at sportsbooks attach point spreads to even out the betting because not all teams are equal. The point spread projects the final margin between two teams’ scores.
With the -120 Moneyline, the payout will be calculated in exactly the same way as a simple moneyline bet. For example, betting on the favorites at -3 (-120) means the team must win by four or more points in order for you to have a winning bet slip. If you decide to bet on the underdog and the odds are +3 (+120), your team must lose by four points or more for your betting slip to win. This means risking $120 to win $100.