Over 23 million Americans bet on the Super Bowl in 2021. It’s one of the biggest games in the world, and while it’s known for bringing tons of beer and snacks, it’s also known for being a huge betting day.
Sports betting is popular all year round, but there’s nothing like the Super Bowl. The stakes are high, and everyone seems to want to be a part of it. Because of this, it’s a lucrative time to get into sports betting.
You have a lot of history to go on, so if you want to bet on the Super Bowl, you won’t have to go in blind.
It’s important to prepare ahead of time to have the best possible chances of winning, so keep reading our guide below to get started.
Types of Superbowl Bets
With any sport you’ll bet on, you will have to join a reputable and licensed sportsbook. Create an account on the betting site, and put down your deposit, so you have something to wager with.
Now you can decide what type of bet you’d like to go with. You’ll have a lot of options, as you will see the same kinds of bets you’d have with any NFL game, and then a few more that pop up just for the Super Bowl.
There are Moneyline bets, which is a wager on which team you think will win. It is the most basic type of Super Bowl bet, and you will get paid varying amounts based on which team is likely to win and which teams the rest of the world bets on.
Next, you have spread bets, which puts a wager on which team you think will outperform their expectations. The sportsbook puts on a number on how many points they think the favorite will win by.
If you bet on the favorite and they outperform, you win! If you bet on the underdog and they exceed their expectations, you win your bet!
A total bet is a wager on the total points made at the Super Bowl. Here, you are again betting against the sportsbook, which has a number set on how many total points they think will be scored throughout the game. If you’d rather not bet on one particular team, this is a great way to do so.
In-game bets are perhaps the most intense, as they occur after the game already started. Once the game begins, you’ll be able to make Moneyline, spread bets, and total bets, either after every quarter or after every play.
Research Stats, Trends, and Data
Now you know the basics of sports and Super Bowl betting, you should begin researching past Super Bowls, learning the winners, the losers, the plays, and the stats and data for both teams playing this year.
You want to know the average margin of victory, which teams have won the most Super Bowls, and how the current teams have played all season.
Learn about the various players and if there is anyone with particular drama surrounding them or if there is a favorite to be MVP.
This will help guide you to know if you want to bet on a particular team or if you’d rather focus on other aspects of the game. You don’t want your wager to be random, or you’ll be much less likely even to win it back.
Learn more here about the different types of sports betting.
Set Your Budget
Setting your budget is perhaps the most crucial part of sports gambling. Never forget that winning your money back is not guaranteed, so whatever you put up, you should be able to afford to lose.
Set aside a certain amount, and never go over that amount. This is especially important during the Super Bowl if you decide to make in-game bets.
While things can get tense and exciting, if you have a set budget ahead of time, you’ll be much less likely to go over it and potentially lose a significant amount of money.
Mistakes to Avoid
If you’re a new gambler or have never bet on the Super Bowl, there are several mistakes that are easy to make, especially in the excitement of the game.
Betting too big is the number one mistake, which is discussed above. Never bet beyond your means.
Contradicting your bets is also a huge mistake. If you are making multiple different bets, you want to make sure each bet coincides with each other. For example, if you are thinking of high-scoring games, you should always bet Over, not Under.
Chasing losses is another mistake you can make when betting on the Super Bowl. If you are making in-game bets and are losing immediately, you don’t want to start making random bets on opposite sides to win your money back.
This almost never works, and you’ll probably just end up losing more money. Since you are doing it impulsively, you have no research to back your bets up on, which means more risk for losing, which you don’t want to continue to do.
Ready to Bet on Super Bowl LVI?
Now you know exactly how to bet on the Super Bowl, so what are you waiting for? Start doing your research on the various teams, decide what kind of bet you want to make, and set your budget in stone.
Even if you don’t end up winning, it will be an enjoyable experience, and you can have fun knowing you’re participating with people all over the world.
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