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How to Bet on the Super Bowl: A Guide

What are the different types of bets for the Super Bowl?

How to Bet on the Super Bowl: A Guide | Tipico

After 18 grueling regular season weeks, the NFL playoffs have finally arrived. 14 teams enter, but only two will remain. But even if your ride or die New York Jets or Denver Broncos aren’t one of the final two, there are still ways to invest in the Super Bowl Sunday game.

Could we interest you in a small wager?

Funnel your football spirit into a Super Bowl bet—raising the stakes is sure to make Super Bowl Sunday a nail-bitter, no matter who plays. To that end, this guide walks you through how to bet on Super Bowl teams to help you make a touchdown of your own.

What is the Best Way to Bet on the Super Bowl?

First things first, the best way to bet on the Super Bowl is by making sure you have fun. No matter what betting option you choose to make, the important part is staying within yourself. A couple of Super Bowl bet tips to keep in mind:

  • Only bet what you can lose – This is a football wager, not an investment plan. The joy of sports betting is that sports are unpredictable. That’s what makes things exciting. So root for the win, but always be prepared to lose. You don’t want your ability to pay rent next month hinging on how many points are scored in Sofi Stadium.
  • Do your research – You don’t have to know the inner workings of a zone-blocking scheme to enjoy Super Bowl LVI, but doing some research can enhance your viewing experience—and your betting odds of picking the best team.
  • There’s no shame in hedging – Hedging is a concept where you make multiple bets to minimize any chance of losing. Let’s say you bet big on one team to win the game. To hedge, you might bet on the other team to score more in the second half. Now, if there’s a late comeback that goes against your initial bet, the winnings you’ll get on your second bet will cushion that blow. When hedging, you can't bet both sides of a market when using a bonus.

How to Bet on the Game

You’ve done your research and you’re ready to place your bets. Now what? First find a reputable NFL sportsbook where you can check out the Superbowl odds and place the bet. These days, there are plenty of online books you can use (like Tipico). Then, figure out what type of betting option you want to make—there are three to choose from.

#1 Moneyline Bets

Let’s start with a simple question: who do you think is going to win the game? That’s the only question that matters with a moneyline bet. If the team you bet on wins, then you win. Simple. The only wrinkle is how the payouts work. To know that, you’ll need to look at a line:

  • Jets -160
  • Lions +110

So, this is a made-up line (sorry, Jets and Lions fans…there’s always next year). Looking at this, we can see that the Jets are favored to win because of the “-” before their line. What the line means is that to win $100 you need to bet $160. Conversely, if you bet on the Lions (the underdogs) you only need to bet $100 to win $110.

#2 Bet the Spread

Let’s say you believe that the seven-layer bean dip is going to be more popular at your Super Bowl party than the spinach and artichoke dip. Then you bet the spread, right?

Wrong type of spread (also, where’s the guac?).

When we talk about spread bets, we’re actually talking about a point spread. This is the line that a book sets to even the odds between the two teams. You can think of it almost like a handicap in golf. For the bet, the underdog is spotted a certain number of points so that they become even with the favorites. Let’s look at another example:

  • Jets -3.5
  • Lions +3.5

Since the Jets are favored, they have to win by more than 3.5 points for you to win the bet. Conversely, the Lions can lose the game by three or fewer points, and you still win your bet.

#3 Over/Under

I don’t care who wins, I just want it to be a good game.

That magnanimous attitude may explain why you’re one of the last picks in the office softball game, but it doesn’t mean you can’t be a winner when it comes to Super Bowl betting. Over/under bets have nothing to do with who wins the game. Instead, you bet on how many points you think will be scored.

Let’s say the line is 54. If you think the teams will combine to score more than that, bet the over. If you think the defenses will dominate and the score will be less, bet the under.

Factors to Consider

The Super Bowl isn’t just any old football game. That means you can’t analyze it like you would any other game. There are differences specific to the Super Bowl that should influence how you think about the bets you make. Some examples include:

  • Home field – Maybe you’ve heard home field advantage is a thing of the past. Maybe that’s true, but lines still give respect to home field with point spreads shifting based on which team is home. But none of that matters in the Super Bowl. The site was chosen before the season to ensure the location was neutral, so neither team will get an advantage.
  • Super Bowl 56 wrinkle – Not so fast! This year’s game is going to be held in SoFi Stadium in Los Angeles, CA. That means the NFC team will be playing in their backyard whereas the AFC team will be traveling. (That’s something to consider.)
  • Experience – Media week, an extra-long Halftime, the pressure of the biggest game of your life. It’s hard for any player to play their best while dealing with these factors, but knowing what to expect can help. Favoring teams with QBs and/or head coaches who have been there before may be a smart strategy.
  • Injuries – In football, injuries are always a factor. Researching which team is healthier can give you an edge in your betting strategy.

Game Props vs Derivatives

When it comes to how to place a bet on Super Bowl, there’s more than one way to do it. In addition to betting on the game’s final outcome, there is also a prop bet. Short for proposition bets, these are bets on smaller elements of the game (and sometimes elements that have nothing to do with the game). Prop bets can offer better betting odds because they are harder to predict. Some examples include:

  • Player props – Who will be the first player to score a TD? Will one QB throw for over 350 yards? Who will win the Super Bowl MVP? These are just some examples of the numerous player props available.
  • Team props – Will a team lose more than one fumble? Which team scores first? Will there be a safety? A blocked field goal? If you have a sense of what you think will happen during the game, adding these sorts of Super Bowl prop bets can be great additions to your betting strategy.
  • Derivatives – You don’t have to bet on the whole game. With derivatives, you can break things up. Maybe you think one team will start slow. Derivatives let you break the game into segments so you can follow your gut, and limit your bets to the first half or quarter of the game.

Super Bowl Parlays and In-Game Bets

There are two additional types of bets worth considering when you’re deciding on your betting strategy for the game:

  • Super Bowl Parlays – A parlay is when you combine bets to boost your potential payout. For instance, a popular parlay is to bet on the team you think will win and that team’s quarterback for Super Bowl MVP (since QBs are most likely to win that award). If both bets hit, you get a higher payout than if you bet them separately. You can string as many bets as you want into a parlay, but if any one of them loses so does your entire bet.
  • In-game betting – Wouldn’t it be nice if you could bet on the game while it’s happening since you have such a better sense of it then? You can. In-game betting allows you to bet on the game as it’s going on. This is a way to hedge on early bets that aren’t looking good or you can use it as a way to double down and enhance your payday.
    • While in-game betting opens a lot of possibilities, one you should avoid is chasing a bad bet. Maybe you made an early bet that is turning out to be a loser. Don’t throw good money to try to make up your losses. Hedging can be smart, but chasing can turn a bad day into a terrible one.

Bet on the Big Game with Tipico

The Super Bowl may very well be the most popular sporting event of the year. Whether you’re a new better, or an experienced shark, it’s a day to look forward to. And the best way to get in on the action is through Tipico. We’ve got live bets, spreads, moneyline, and plenty more. So if you’re ready to get in the game and start making some money, start betting with us today.

Enjoy the game!

Sources:
Betting Super Bowl. Super Bowl 56 Betting Tips. https://www.bettingsuperbowl.com/tips/

NJ.com. How to Bet on the Super Bowl Online: The 2022 Big Game Guide. https://www.nj.com/betting/nfl/how-to-bet-on-the-super-bowl-online.html

New York Times. Why Home Field Advantage Is Not What It Used to Be. https://www.nytimes.com/2020/01/10/sports/football/road-team-advantage.html

NFL.com. Super Bowl LVI. https://www.nfl.com/super-bowl/

PicksWise. Super Bowl Prop Bets 2022. https://www.pickswise.com/nfl/super-bowl/prop-bets/

The Sports Geek. Super Bowl Betting Guide (2022). https://docs.google.com/document/d/1p6uJlzyFvls_DGUOd4AI8r0xZI_XL2rxP_ldBhxmkD8/edit#

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