Football is the most popular sport in North America to bet on.
And NFL betting could become more popular if Alberta joins Ontario and the regulated sports betting market.
Unless you are in a regulated online sports betting market like Ontario, betting on football games online is mainly limited to parlay-style wagers, not single-game bets.
However, after Alberta’s regulated sports betting launch, which could occur next year, bettors in that province could sign up for third-party operators like BetMGM.
That will allow sports bettors in Alberta to access various options, including moneyline, totals, spreads, prop bets, live betting, and parlays.
But more on the latest from Alberta later.
How to Bet on Football Games Online
If you’re in a regulated online sports betting market, you must create an account at BetMGM to place bets.
The sign-up process includes providing personal details while verifying your age and identity. After BetMGM approves the account, you can deposit your first real money through various means (credit card, PayPal, e-transfer, Apple Pay, etc.).
NFL Moneyline
The moneyline is the most straightforward type of football betting, as only the outcome of the game matters. Bettors choose which team they think will win the game, and that team must prevail for the bet to hit.
Bettors either back the underdog with a + in front of the odds or the favourite, denoted by a – sign.
The odds help you determine how much profit you’ll make if the team you back wins the game.
While the favourite is likelier to win, the profit margin associated with backing a favourite is considerably less than for an underdog.
For example, the Buffalo Bills are the -250 favourites at home against the Arizona Cardinals, the +200 underdogs.
When betting on underdogs, think of it this way: The odds show how much you will profit on a winning bet. So, a $100 bet on the +200 Cardinals will profit $200. That means you’d profit $20 on a winning $10 bet.
If you back the favoured Bills, the potential return is diminished due to their much higher likelihood of winning.
The minus odds show how much you would have to stake to win $100. As the Bills are -250 favourites, you’d have to place a $250 bet to profit $100.
A $10 bet would profit just $4.
NFL games can end in a tie on the rare occasion.
In those cases, the bet will be considered a tie or a push, and BetMGM online sportsbook will return the stake (the amount of the bet you placed), and there will be no profit or loss.
NFL Point Spreads
NFL point spreads level the playing field between opponents. As most teams have a skill level discrepancy, point spreads are used as a handicap.
Here’s how it works: Let’s say the Dallas Cowboys are 7.5-point home favourites against the Carolina Panthers. The Cowboys spread line will appear as -7.5 and the Panthers +7.5.
The correlating odds for both teams usually range from -125 to +100. However, both teams will often have the same odds, usually -110.
So, if you pick the favoured Cowboys to cover the spread, they must win by at least eight points.
The Panthers must lose by seven or fewer points if you back them. Of course, if you back the Panthers, they can also win the game for your bet to hit.
You can also have whole number point spreads in the NFL.
For example, the Cowboys could be favoured by seven points instead of 7.5. If you back the Cowboys in that scenario and they win by seven, a push or tie will occur.
That means the stake will be returned, resulting in no profit or loss.
While favourites on spread bets compared to moneyline bets are usually more challenging to predict due to their lower probability of winning, they’ll usually have longer odds and a higher potential return.
For underdog picks, you’ll usually have shorter odds and a higher probability of winning than on the moneyline, resulting in a decreased potential profit margin. That’s because your underdog spread pick can still win despite losing the game.
NFL Totals
NFL totals represent the number of points BetMGM online sportsbook expects each game to have.
Bettors then select Over or Under that set total.
For example, let’s say the Seattle Seahawks are playing the Detroit Lions, and the total is set at 46.5.
Bettors will choose to place an Over or Under on that point total. If you select the Under, the game cannot have more than 46 combined points.
The game must have at least 47 points if you select the Over.
The correlating odds for the Over and Under will be close, even the same on many occasions.
The odds can range from -105 to -125. Often, the Over and Under odds will be set at -110.
Higher point totals might be set for two offensive teams, while two defensive teams are more prone to a lower total.
Looking at each team’s recent Over/Under trends before placing a wager is important. Find out their defensive and offensive rankings, and investigate whether the game is in a dome or outside.
If it’s outside, look at the forecast, as weather can significantly impact how many points are scored.
NFL Prop Bets
NFL prop bets, or proposition bets, focus on players or a team’s statistical output (game props) rather than the final score, the outcome, or the total number of points.
Prop bets may or may not have any bearing on the outcome, and the list of options is extensive.
Here are some of the more popular NFL prop betting options:
- Passing yards (Over/Under)
- Interceptions (Over/Under)
- Number of completions (Over/Under)
- Number of pass attempts (Over/Under)
- Receiving yards (Over/Under)
- Number of receptions (Over/Under)
- Rushing yards (Over/Under)
- Number of rushing attempts (Over/Under)
- Number of field goals (Over/Under)
That is a mere drop in the ocean where the NFL props bet market is concerned. There are a plethora of additional options not listed above.
For the Super Bowl, the options extend further. You can bet on the coin toss and what Gatorade colour will be poured over the winning coach, among countless other options.
Prop bets aren’t released until a few days before each game.
As with any bet type, research is crucial to have the best chance of winning.
For example, you might find an in-form running back facing a terrible run defence. While that running back’s yardage total will be higher to compensate for the mismatch, you might still find value in backing the Over.
NFL Live Betting
NFL live betting allows bettors to bet on games that have already started. Most pregame bet types are also available for live betting.
Live betting can add to the excitement of a game as you can place a bet based on how well a team is asserting themselves in real time. If a team has the momentum, you might want to jump on a bet that offers appealing odds.
You can bet on things like the next team to score and other more common bet types like the spread, point total, moneyline, game props, and others.
Even when a game is out of reach, with one team dominating, you can still bet on the point spread.
For example, let’s say the Kansas City Chiefs are up 31-10 on the Chicago Bears. The Chiefs might have an in-game point spread of -24.5, meaning they must win by at least 25 points.
That betting line will change frequently throughout the contest.
NFL Parlays
A parlay bet combines multiple wagers into one bet. Each wager is referred to as a leg. There are a few key points to consider when committing to a parlay.
First, each leg or individual bet in the parlay bet must hit for it to be a winner.
There are regular parlays, a combination of wagers from different games, or same-game parlays, which combine wagers within the same contest.
Here’s an example of regular parlay:
A bettor has the Cowboys (-222) beating the New York Giants, the New York Jets winning against the Denver Broncos (-333), and the Los Angeles Rams (+140) prevailing over the Chicago Bears.
The bettor will make a $35.20 profit if all three teams win, thanks to the combined +352 odds. However, the bet loses if one of those selected teams suffers defeat.
You can combine various wager types, including moneyline with NFL totals and point spreads.
Can I Bet on the NFL in Alberta?
Sports bettors can bet on the NFL in Alberta, albeit in a limited capacity.
While Alberta sports betting online is legal, there’s only one regulated online sportsbook overseen by the Alberta Gaming, Liquor and Cannabis Commission (AGLC).
Only single-game wagers are permitted, and no online sports betting apps are available.
However, in May 2024, the province passed Bill 16, the Red Tape Reduction Statutes Amendment Act, which allows the provincial government to regulate and oversee iGaming activities.
That is expected to pave the way toward expanding online sports betting to more closely align and resemble Ontario online gambling, which allows third-party operators like the BetMGM online sportsbook.
When that eventuality occurs, those 18 or over can access various sports betting options, including moneyline, spreads, over/under, parlays, player props, game props, live bets, and more.
While no confirmed timeline has been set, the expansion could happen in 2025.
