The Ultimate Super Bowl Betting Guide To Prepare Yourself

There will be a lot of money to be wagered legally on the 2023 Super Bowl after the 2022 game breaks all previous records. Last time around, in Super Bowl LVI, the Los Angeles Rams prevailed against the Cincinnati Bengals by 23-20.

Super Bowl LVII will be held in State Farm Stadium in Glendale, Arizona, on February 12, 2023, and bets on the game may already be placed. With this expert guide, you can confidently wager on the outcome of the Super Bowl, no matter who you think will win.

How To Bet On Super Bowl LVII

When you first decide to bet on the Super Bowl, you could feel overwhelmed by the sheer number of betting options and specials available. We've mapped out the easy, step-by-step procedure from wanting to bet a little money on the game for fun doing it.

Pick a Sportsbook for the Big Game

Several articles skip this vital part, but this Super Bowl betting guide knows how important finding the right sportsbook is.

The timing is perfect if you haven't already signed up for an account. Special signup bonuses designed to give new customers an edge in time for the Super Bowl will be available if you postpone until after the AFC and NFC championship games. Don't settle for the first bonus or discount offer you see; do some comparative browsing and choose the best one. We have an extensive list of online betting site reviews to help you make an informed decision.

Create a New Account by Registering

Start by visiting your chosen sportsbook. In a few clicks after clicking "Join Now" (or other variations), "Sign Up," or "Sign Up for Free," you'll have your new account up and running. The sportsbook will credit your account with free bets or no-deposit bonuses.

Place Your First Deposit

After opening a new account, the first step is to fund it. A "Deposit" button that provides rapid access to many deposit methods is a standard feature of any online sportsbook service. If you are eligible for a deposit match, the betting site will add the bonus money to your account after you make the deposit. To find out if you are qualified for a risk-free bet as part of a welcome promotion, you must make a deposit and place your first wager.

Bet on the Super Bowl

When your account is created and funded, you must choose the items you want to buy. If you've already made an account, you may see Super Bowl odds by clicking NFL markets and Team Futures. You can expect it to be featured heavily in the NFL section dedicated to future games as the big game day draws near. The vast array of prop betting markets will be at the bettor's disposal.

Reading Super Bowl Odds and Bet Types

Knowing the basics of reading betting lines can help you make sense of the Super Bowl odds. This is where we start with a primer on interpreting American betting odds and determining your chances of winning or losing.

A negative (-) sign will always be placed before the odds of the favorite on a moneyline or spread, while the sportsbook will place a positive (+) sign before the underdog's odds.

We'll use the Super Bowl LVI encounter as an illustration, but your actual payoff may vary depending on the type of bet and the odds.

Moneylines

The Super Bowl is no different than any other game when it comes to moneyline bets, which are placed on the outcome of the game. These are the simplest odds to grasp, and after you center your calculations on 100, they're also the simplest to compute.

When betting on a favorite, the moneyline indicates how much you must wager to win $100. Betting on the Rams at -200 would entail risking $200 for a possible $100 payout (for a grand total of $300).

If you bet $100 on an underdog, the moneyline is how much you stand to win. In other words, a $100 wager on the Bengals can win you $160 for a total payout of $260 at +160. From there, compute the figures for the amount of your wager.

Totals/Over-Under

To bet on the overall score of a game, often known as the "over/under," you must predict whether the final score will be more than or lower than the number established by the bookmakers before the game. Bets like this are popular among rookie gamblers searching for a simple way to have some Super Bowl fun.

Totals lines, like spreads, will often run from -120 to +100, with the most common swing being -105 to -115.

If you wager on the Over 48.5 (-105), the game must have 49 points or more. At -105, you have to wager $105 to make $100, for a total payout of $205 if you win.

Aside from the overall game total, you can see individual quarter totals, halftime totals, and team totals under the Team Props area of the game.

Point Spreads

The moneyline shows that there are significant discrepancies between the teams. Oddsmakers put a point spread on the game to make betting fairer by reducing one side's advantage over the other. This spread represents the margin by which the favorite is expected to win and the margin by which the underdog is expected to lose.

When betting on a game, the point spread specifies how many points the favorite must win to "cover" the spread. If you bet on the Rams at -4 (-110), Los Angeles will need to win by at least five points for you to collect. Betting on a -110 line is the same as betting on a negative moneyline in terms of payment. That's the equivalent of gambling $110 to make $100.

Covering the spread requires the underdog to either win the game or lose by a smaller margin than the spread predicted. Betting on the Bengals at +4 (-110), you may still win if they lose by three points or fewer. This wager, placed on a -110 line, returns $100 for every $110.

Bettors who backed the Bengals against the spread still won their wagers despite the team's 13-3 loss to the Rams in Super Bowl LVI.

Lines often begin at -110, the most frequent line for a point spread, but they can go anywhere from -125 to +100 before being pushed in one direction.

If the underdog covers the point spread and the favorite wins by exactly that number of points, your bet is null, and your money is returned.

Futures Betting

All futures wagers are expected to be paid off at a future date. Super Bowl futures are the most popular type of wager, as they may be placed at any time during the offseason or regular season and are only resolved after the big game.

At each season's conclusion, bookies set odds on who will win the Super Bowl the following year. The offseason is a great time for gamblers, since the odds are always changing due to free agency, the draft, and other events. This procedure continues through the regular season and playoffs, at which point all future bets are resolved, and a winner is declared.

The favorites will be at the top of the board, and the greater numbers will be near the bottom, where the underdogs are.

Creating Your Super Bowl Betting Strategy

Betting on the Super Bowl is a big market.

Even those who don't often bet want a piece of the action, and regular gamblers are putting in a little additional work and investing a little more money than usual. With this in mind, it certainly wouldn't hurt to have some pointers. Keep the following in mind when planning your Super Bowl betting strategy and tactics.

Get your stats right.

Bettors can find simple calculations like points for/against and yards for/against quickly, but they don't tell you much about the nature of the teams involved. Analyzing EPA per play, DVOA ratings, and individual box scores from early playoff games can give a more realistic picture of a team's strengths and weaknesses. After all, the postseason is like a mini season in and of itself, and results from prior games can certainly predict the outcomes of subsequent ones.

Check up on the latest injury updates.

It is critical to know if any stars will be unavailable from either team. Since there is a two-week gap between the conference finals and the Super Bowl, reliable injury updates may not become available until that time. If you have reason to believe that a key player will be injured or unavailable for the big game, it's best to stay calm and wait it out.

Sportsbooks are constantly updated and typically factor this information into their odds.

Don't pay attention to Super Bowl patterns in the past.

It makes no difference that the winner of the coin toss is 7-3 in the last 10 Super Bowls, or that red-clad teams have a losing record. That's an inflated number, but you get the idea. These are purely coincidental occurrences that may or may not affect the match's outcome. When discussing completely different clubs and opponents yearly, even against-the-spread (ATS) statistics for underdogs and favorites are meaningless.

Final Thoughts

Examine your accounts to determine whether you have any extra cash. If you want to get in on the action, check out the top NFL betting sites we've compiled. Super Bowl betting can be fun if you keep these expert ideas and methods in mind.