NFL Vegas Odds

Las Vegas

Most of you should know that Las Vegas is the central hub for gambling and betting in the U.S. What many do not know is that Vegas, and their many different casinos, are responsible for dictating the odds for all kinds of sports matches. Sports bettors may have already encountered this many times before, where they look for the best odds on the internet and they find websites stating that they have “Vegas Odds” available. There are many different reasons for this, including the power Las Vegas has over the odds, and even how it is a good way to compare the odds given at the various online sportsbooks.

The Power of Las Vegas

One could say that the casinos in Las Vegas have a very strong foothold when it comes to sports betting. It is the only place in the U.S. where bookmaking, the act of determining the odds and betting on sports, is allowed. This has enabled them to become a very influential force when it comes to sports betting.

As most sports bettors should know, the oddsmakers determine the odds for any given sporting match, which would include the NFL. Most of the big casinos in Las Vegas use their own information and research in order to predict what the outcome of a match will be, and from that determine the odds they will give the bettors. This is why the Vegas odds have become somewhat of an industry standard; they are deemed to provide the best odds overall for any sporting event.

The Odds

At the various different casinos, they tend to use one standard type of odds; it is usually the Fraction odds. The odds are represented by this fraction, and it is up to the bettors whether they want to bet on it or not. An example of what a fraction odd looks like, it simply looks like this: 1/5. For those that do not know how to read these odds, simply replace the division line with the colon mark, i.e. “:”. It will end up looking like this, 1:5, which can be read as a ratio; One to Five odds. It simply means that, for every dollar the bettors wagers, they could potentially win 5 dollars in return.

The smaller the fraction, the team is determined to have fewer chances of winning that particular bet and vice-versa.

Comparing the Odds

Not everyone living in the U.S. can actually go to Las Vegas, visit a casino, and place a bet on the NFL weekly matches. This is where the online sportsbooks come into action. What these online sportsbooks do is assimilate the odds provided by Las Vegas, with a few tweaks of their own. They try and make their own odds comparable to the odds found in Vegas, so that the sports bettors can have the best odds possible. There are two basic types of sportsbooks, those that use the Vegas odds, and those that take the odds and tweak them slightly.

Using the Odds

Those sportsbooks that simply use the Vegas odds do so with the intention of keeping the odds at the same level as Vegas; and usually promote their sportsbook accordingly. Many bettors tend to flock to and rely on the sportsbooks that state that they use the Vegas odds, as they have the reputation of being the fairest for the bettors.

Tweaking the Odds

The sportsbooks that tend to tweak the odds usually do it in two ways; with the opinion of their members, as well as to improve the odds for the Underdogs. Whenever a sportsbook posts their initial odds, they assume there will be a 50-50 split between those that bet on the Favorite and those that bet on the Underdog; however, this is hardly ever the case. When most bettors bet on the Favorite, the sportsbook tweaks their odds accordingly; to give the Favorite team better odds of success, but it means the pay-in is increased.

When they improve the odds for the Underdog, what they are doing is giving a little more incentive to the sports bettors to bet on the Underdogs. The way they do this is by giving the point spreads or total score bets an extra half points; usually marked by a “.5” or a “½”.

Vegas Odds

Here at NFLBetting.com, sports bettors will be able to find both types of these online sportsbooks. They will be able to find the best Vegas odds, so the bettors can wager on the NFL match-ups from the comfort of their own home, while ensuring that they are using the odds found at the casinos in Las Vegas. They will also find sportsbooks that have a tendency to use the Vegas odds simply to tweak them and give their members different odds that could get them a larger than normal payout. Either way, the Vegas odds are what start the ball rolling and the sportsbooks simply pick up on their predictions.