NFL Basics: A Beginner’s Guide to Placing Your First Move 

“The key to NFL betting isn’t picking the winner; it’s finding the value.”

You must be aware of the fact that in 2018, New Jersey won a case that legalized betting. But do you know about the profound impact it had on the economy and sports industry?

According to the American Gaming Association, just after six months of this bill, the city generated $1 billion in bets and the number has only grown since then. Research suggests that this market will be worth $30 billion by the end of 2030. (Forbes: New Jersey Becomes First State to PASS $1 Billion in Sports Betting)

If you also want to start your journey of placing wagers on the NFL games, then this article is for you. Here, I’ll share all the basics and important aspects of betting one need to know before placing their first bet. Also, I’ve included some bonus tips and common mistakes to avoid during this. So read to the end.

Understanding Types of NFL Bets

There are various NFL bets that you can place, but how to choose which is the best option for you? I’ve seen many people fretting about this, and I understand seeing all these options can be overwhelming and confusing. But no need to worry because I’ve listed some common types with their simple explanations below.

• Point spread bet – This is the most common type of bet you’ll see in the NFL. Here is how it works, one team is given a spread or handicap to level the field. Now, if I want to place a bet, I’ll choose the team that I think will cover the spread, or we can say win with a certain margin. 

• Moneyline bet – This one does not include any spread. I can straight out pick a winner considering their past performances and place a bet on them. 

• Parlay bet – I can place bets on three spreads of different games and if all three teams cover the goals, then only I’ll win. 

• Live betting – Here, I can bet on the game in progress. I can place bets on the next play, quarter, or outcome depending on the live situation of the match.

Steps to Place Your First Bet

Now that you have an idea of the different types of bets and the way things work, it’s time to learn how to place your first bet. These are the steps I would recommend you to follow for maximum profits – 

1. Choose a Reputable Sportsbook

   It is best to do a thorough research while choosing a sportsbook. I would suggest you check reviews of apps online or visit a physical one if there is one in your area. Look for platforms with competitive odds, robust customer support, and good starting or promotional offers for beginners.

2. Understand the Odds

   I would advise you to understand major terminologies and betting odds before you start. Typically, they are presented in American format. For example, -110 means you need to bet $110 to win $100, while +150 means a $100 bet will return $150 in profit.

3. Set a Budget
   Many people get blinded by the adrenaline and winning highs from the game and place bets worth more than they can afford to lose. Do not let this happen to yourself, decide how much money you’re willing to wager and stick to it, as sports betting can be unpredictable and result in anything.
   
4. Research the Teams
   One essential practice that I see people skipping is to research the teams they are betting on. Dive into stats, injury reports, and recent performance trends, this will give you an idea about what you can expect from the match to bet accordingly. I trust Doc’s NFL Picks for this.
   
5. Place Your Bet
   Once done with all the steps mentioned above, you are ready to make the choice. Just select the type of bet you want to make, enter the amount you’re wagering, and confirm your bet slip.

DO YOU KNOW? 
As the NFL season reaches its final stages, a substantial increase in the number of new depositors is observed. The graph below represents the percentage of first-time depositors during the NFL season compared to off-seasons. 

Tips for New Bettors

There are a few essential tips I would like to share with you, these will help you maximize your returns and save you from any avoidable loss- 

• Understand the basics of the game – To make smart decisions, it is important to know the concepts, terminologies, odds, and other important aspects of the game. So, take your time to familiarize yourself with all this. 

• Start with small sums – All of us know that betting involves a certain amount of financial risk, and as a beginner, you are more prone to it. So, I would recommend you start small and avoid placing large sums of money until and unless you are completely familiar with the nuances of betting. 

• Shop for the best odds – Different sportsbooks offer different odds on the same game, which is why I always compare the bids before placing wagers. This is a crucial step to maximize your returns, especially if you are a beginner. 

• Avoid emotional betting – I know betting on your favorite teams and players sounds tempting but do not cloud your judgment based on your personal preferences. Always keep your emotions aside in this, and make objective decisions based on analysis. 

Common Mistakes to Avoid

There are some common blunders that new bettors tend to make, which can lead to severe consequences. I’ve enlisted these mistakes below for you to analyze and learn from them. 

• Betting on every game – I understand that it can be exciting and tempting to bet on every game, especially during an active week. But remember that not every game is worth betting on, and only stick to the games you have researched and feel confident about. 

• Placing early parlay bets – Do not fall for the trap of big payouts from parlay bets. Yes, you can secure a huge sum of money, but they are a lot riskier and harder to win. Therefore, I would never recommend a beginner to place parlay bets. 

• Chasing losses – Bettors tend to get frustrated with the continuous losses and think of recovering them with more bets. But this is not really a smart move, most people only end up in bigger losses and debts because of this. 

• Ignoring their budget –  You should be aware of your limit and know when to stop. Do not place bets with the excitement of winning or frustration from failures, stick to your budget and engage responsibly. 

INTRIGUING TIDBIT 
NFL betting lines can shift due to public money or injury news. If you see significant line movement without a clear public reason (like a late injury or major news), it’s often an indication that sharps are backing a certain bet.

Conclusion

NFL betting can seem like an excellent opportunity to engage with the game and make profits, but it requires some basic knowledge. I hope this article helps you get familiar with all the essential and related aspects. 

Pay extra attention to the tips and common mistakes mentioned above, to avoid making blunders and to maximize potential returns. Finally, I would just like to add that betting involves a certain amount of risk, so be responsible and participate mindfully.

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