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NFL Las Vegas Odds

Author

Malcolm Darnley

Updated: Sep 22, 2023

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In 1949, the first legal sportsbook opened in the state of Nevada.

Sportsbooks at the time were referred to as Turf Clubs, and deals were made with local hotel casinos to stay out of each other’s business.

Although these Turf Clubs were small independent shops off the strip when they first opened up, it was the beginning of the thriving sports betting industry we know today.

What Are Las Vegas NFL Odds

Before the US voted to give every state the choice of whether or not to legalize sports betting, Las Vegas owned the sports betting market.

Whether you were inside a Vegas sportsbook looking to make a bet on the game or across the country talking about a particular NFL point spread, you weren’t just talking about NFL Odds; you were talking about Las Vegas NFL Odds.

Because Nevada legalized well before anyone else in the US, all sports gambling odds were often referred to as Las Vegas Odds or Vegas Odds because that is where the lines were being set.

Today, despite most of us placing bets online and not from inside a Nevada sportsbook, the term Las Vegas odds or just Vegas odds continues to live on.

How Are Las Vegas NFL Odds Set

When sportsbooks first opened up, odds were set primarily by a few select people who would get together and discuss their thoughts on a game.

Together, this small collection of oddsmakers would brainstorm until they could agree on a number, which would be the game’s opening line.

Fast forward to online sports betting in 2022, and things have changed quite a bit. Oddsmaking now is far more high-tech than it ever was.

Complicated algorithms with hundreds of different data points are the face of oddsmaking today.

Back in the day, individual operators would take pride in their in-house oddsmakers and their ability for those people to set accurate lines.

Today, many operators outsource oddsmaking to some high-tech companies that specialize in creating algorithms to do this role.

How To Read NFL Las Vegas Odds

In North America, the most commonly referred to odds are expressed using either a + (plus sign) or a – (minus sign) in front of them.

Example: NFL Money Wager

Visitor – Miami Dolphins +130

Home – Buffalo Bills -150

The odds above show that the Miami Dolphins are +130 and the Buffalo Bills are listed at -150.

The + sign tells us we are dealing with an underdog. From a betting perspective, + odds let us know how much we would profit if we bet $100 on that team.

In this case, betting $100 on the Dolphins would result in a $130 profit.

When we look at the -150 odds for the Buffalo Bills, the – (minus sign) tells us we are betting on the favorite.

In this case, -150 means that to win $100 in profit, a bettor would have to risk $150 with their bet.

What Day Of The Week Do NFL Odds Open In Las Vegas?

Each sportsbook is slightly different and operates on its own schedule.

However, we can follow some general times and guidelines when looking to see the opening lines on different types of NFL bets.

  • Point spreads and totals are released on Sundays at 7:00 p.m.
  • Moneylines come out on Mondays at 4:00 p.m.
  • The first half lines go public on Tuesdays at 8:00 p.m.
  • Quarter lines are scheduled for Thursdays at 4:00 p.m.
  • NFL alternates go like this: TNF on Mondays, 8:00 p.m. Weekend Games on Wednesdays, 4:00 p.m.
  • Team props go live on Tuesdays at 8:00 a.m., but additions can be made during the week.
  • Player props open on Game Days at 9:00 a.m

What Is The Juice / Vig

The Juice or Vig is the cut or percentage a sportsbook will take from a losing bet.

We hear terms like a 10-cent line or operators with a reduced 5-cent line.

That means a 10-cent line would list both teams at -110 when you have two equal teams playing. A bettor would wager $110 to win $100 on either team.

A reduced 5-cent line would have both teams listed at -105, not -110. Sportsbooks trying to compete for more business will offer reduced lines to their customers.

They are willing to take less profit when a bet loses, hoping to attract more customers to use their sportsbooks.

How To Place Bets At Las Vegas Sportsbook

It is an easy step-by-step process, so follow these guidelines the next time you find yourself in Sin City and want to place a bet while inside a sportsbook.

  • Decide which kind of bet you’re playing: a moneyline, point spread, parlay, teaser, or another type of bet.
  • Find the sport you want to bet on. Then go to the match(es) you’re looking for using the Vegas betting line board.
  • Choose the criteria you want your bet to be based on. It can be point spread bets, moneylines, totals, or across many other markets.
  • Pick the amount of money you’re willing to bet.
  • When it’s your turn, approach the bookmaker.
  • Tell them the rotation number, the type of bet, the betting criteria you want to wager on, and the amount of money wagered.

Remember, you must be specific with your information because many different types of bets and odds are available for each NFL game.

Making things easier for the bookmaker avoids confusion and placing wrong bets and is always appreciated.

NFL Super Bowl Betting Favorites

Thanks mainly to modern technology, sportsbooks can immediately start offering odds on all 32 NFL teams to win next year’s Super Bowl after the current Super Bowl ends.

The amount of bets offered today far exceeds what was offered when Las Vegas sportsbooks first opened up.

Futures betting, player prop betting, and even in-game or live betting are all popular forms of sports wagering today that weren’t available without technological advancements.

Even though the Super Bowl can be weeks, months, or even a year away, as a bettor, we always have access to NFL odds and are able to make a futures bet.

The Favorites

Kansas City Chiefs +550

Kansas City has looked far from dominant early in the 2023 season, but as defending Super Bowl champs, until proven that they can be beaten regularly, it’s hard not to have them as the betting favorite.

Patrick Mahomes started the year as the betting favorite to repeat as league MVP.

At the beginning of the 2022 season, bettors thought the AFC West might be the toughest division in football. However, Russell Wilson was a flop in Denver year 1, and Derek Carr was run out of Las Vegas before the season ended.

In 2023, the odds suggest the Chiefs will win the West handily. With the Chargers out to a slow start, it looks like the odds for KC were spot on.

San Francisco 49ers +650

It is easy to understand why bettors might want to look past the San Francisco 49ers. Today’s NFL is a passing-heavy league, with gunslingers at the QB position leading their teams to championships.

San Francisco is led by Brock Purdy, the last player selected in the 2022 NFL draft.

As a rookie QB, Purdy was way better than anyone expected when he was forced into action last season. Mr Irrelevant led the 49ers to the NFC Conference Championship game before injuring his elbow and being forced to sit out.

If bettors are sleeping on a healthy Purdy in 2023 just because of where he was drafted, they will miss out on a very good San Francisco football team.

Philadelphia Eagles +750

When the Philadelphia Eagles selected Jalen Carter with the ninth overall pick of the 2023 NFL draft, it was another case of where the rich get richer, or in this case, where the already super-talented Eagles defense gets even better.

Carter had some off-field issues while at the University of Georgia that led to him slipping to 9th in the draft.

Almost all scouts and talent evaluators had Carter ranked much higher based on his pure ability as a football player.

For the Eagles to grab him and add to a defense already good enough to reach last year’s Super Bowl seems a bit unfair.

Always Shop Around

The single greatest edge a sports bettor has over the operators is their ability to shop around for the Best Odds available.

Regarding futures betting and betting on the NFL Super Bowl winner, odds can differ drastically between sportsbooks.

The Buffalo Bills can be listed anywhere from +1000 to +2000 to win this year’s Super Bowl. For a $100 bettor, the payout on that bet is a difference of $1000.

If you aren’t shopping around for your odds, you aren’t giving yourself the best chance to beat the sportsbooks.

Author

About the author

Malcolm loves to watch all kinds of different sports. He also writes about them.