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The US has a long, storied history with sports betting dating as far back as the 1600s. However, it was not until the mid-20thcentury that we started to see an large public interest in the pastime. This did of course come at a price, and organized crime had a stranglehold on the industry for decades.
This led to gambling legislation being passed to curtail their efforts and in 1992 federal ruling outlawed sports betting. The Professional and Amateur Sports Protection Act (PASPA) made it unlawful for a State or its subdivisions “to sponsor, operate, advertise, promote, license, or authorize by law or compact… a lottery, sweepstakes, or other betting, gambling, or wagering scheme based… on” competitive sporting events.
The NFL were heavily in favour of the ruling early on, especially after they sponsored the 1964 Bribery Act. Sports betting had been heavily looked down on by league officials for years, however the tide started turning in 2016 when the league moved the Oakland Raiders to Las Vegas, suggesting their attitude to gambling was relaxing.
PASPA stayed in place for over 25 years with extremely restrictive laws placed on all forms of sports betting. This ended in 2018 when the Supreme Court struck down the federal ban on sports betting, allowing states to legalize it if they wish. Fast forward to 2022 and sports betting is now legal in some form in over 30 states with many more expected to push through legislation in 2023/24.
The reintroduction of sports betting has been heavily successful, adding billions of dollars to the US economy. On top of that, millions of Americans have been able to add an extra layer of excitement to gameday.
By far one of the most popular bets to make on the NFL since this reintroduction has been the NFL Point spread.
For those that don’t know, the easiest way to explain the spread is that it handicaps the favourite in any given game, in that it essentially starting them on a virtual negative-points total. The spread will always be a number set by the sportsbook, with the favourite being negative, meaning they have to overcome a set handicap for your bet to win. So for example, if the Chiefs played the Raiders you may bet on the Chiefs against the spread of -10.5 In this case they would have to win the game by 11 points or more for the bet to win. Alternatively, you could bet on the Raiders at 10.5, meaning they must either win the game or lose by no more than 11 points.
Part of the reason the spread is such a popular bet to make is because it is a great way to back heavy favourites without sacrificing a smaller payout due to lower odds. It is also a great way to back moneyline underdogs who whilst you may not expect to win, you don’t think they will lose by a large margin.
With point spreads, the odds are always balanced so if you wager $100 for example, you will win the same amount either way.
Tips For Spread Betting
One of the best ways to ensure you can bet confidently on point spreads is by doing your research. Stats and trends are incredibly important if you want to be a successful sports bettor and there are many avenues you can explore to help you collate this information. Whether its podcasts, YouTube videos or even the DraftKings social tab, there are thousands of experts who dedicate their time to the numbers in the NFL and deliver tips on the best spread bets. Knowing each teams’ strengths and even the injury reports will give you some much needed help as to which way you should wager. The spread number is set very specifically so this does not mean it is a failsafe way to win but it certainly goes a long way in helping.
A great way to make money spread betting is by taking advantage of sign-up offers. Draftkings have an array of offers for new customers and existing customers. This gives you extra money to wager with, and since point spreads are so straightforward, it can be relatively easy to meet the associated wagering requirements and still come out ahead.
Another thing to consider when spread betting is the home-advantage. The bookmakers will always consider this when setting the spread number and be careful of falling into the trap of always backing road favourites.
Hopefully this guide has given you the confidence to bet on the point spread as we edge closer to the 2023 NFL season. As well as being a great way of backing short priced favourites and longer priced underdogs, they also add a great level of excitement to games.
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