How Do NFL and CFL Betting Odds Work

Sports betting odds may seem confusing at first, but understanding them helps you decide which games are good to bet on, especially in the NFL and CFL where you easily tell who's expected to win and who's the underdog. With the help of LeafletCasino experts, we prepared this review to help you get the most out of the best football betting sites and online casinos. Thus, you’ll discover real “value” behind bets and possibly land some serious winnings.

Types of Football Betting Odds

When talking about football odds, it’s crucial to understand the details regarding “true” and “implied” odds.

• True - The true likelihood of an event happening. It's set by the sportsbook but divested of the sportsbook’s take.
• Implied - Similar to true ones, but with the sportsbook's take (the vig) included.

Essentially, they indicate the total you stand to gain if the wager is successful. A good rule of thumb is: that the more a bettor stands to win, the less the event is likely to happen.

NFL and CFL football betting odds fall under 3 main types: Moneyline or American, Decimal or European, and Fractional or British. It’s important to note that all 3 are alternative ways of expressing the same thing. There’s no discrepancy in the payout from betting on football with any of them at the same event with an equal bet.

Moneyline Odds

A moneyline bet is simply a bet on who wins the game, irrespective of the margin of victory. If the game ends in a tie, the bets are returned in what’s known as a “push.” American moneyline odds are easy to spot. They make use of either a plus or minus sign to display the total needed to be wagered to win $100 or the amount to be won for a $100 bet. By betting on the favorite, the “-” sign, the bettor spots how much he stands to win if he bets $100. Conversely, a “+” sign signals a bet placed on the underdog. The numbers that follow the + sign indicate how much the gambler stands to win should he wager $100.

Let’s look at a hypothetical example of moneyline NFL odds on a Miami Dolphins and the New York Jets game. The moneyline favorites are the Dolphins at -280, with the Jets being the underdogs at +220. Betting $200 on the Dolphins would net a bettor a profit of $71.43 (plus the initial $200 wager). A winning bet on the Jets would land winnings of $440 in addition to the initial $200. In short, though the favorites might be odds-on to win, it’s bets on the underdogs that produce greater rewards.

Decimal Odds

Otherwise known as European odds, these represent the sum to be won for every $1 bet. Decimal odds below 2.0 are the favorites, and those odds over 2.0 are the underdogs. Calculating payouts is as simple as multiplying the wager by the decimal odds, with the result being the profit with the initial bet included. Let’s say $10 is put on the BC Lions, with decimal odds of 2.6. Thus, $10 x 2.6 = $26. This sum is made up of a $16 profit and the $10 wager. One reason sports bettors prefer Decimal odds is that the conversion to payouts remains equal whether it’s working with favorites or underdogs. In addition, the odds are based on bets of just $1 instead of the $100 of American odds, which makes it easier to scale. Thankfully, Canadian sportsbooks have embraced the European style, leaving their North American partners at NFL games playing the money line.

Fractional Odds

Fractional (or British) odds illustrate the ratio of the amount of profit against the original stake, expressed in a fraction. These are most commonly observed at horse racing events. In football, if the odds are 4/1 for the Edmonton Elks versus the Toronto Argonauts, it means a win for the Elks returns a profit of $40 ($10 x 4). But, the total money you’d get back would be $50, together with your original stake.

A fraction the other way around indicates the “odds against“ price. Though this points to a high chance of your bet coming through, it also means the payout might be very low. As an example, odds of 2/7 would give you a profit of just $2.86 after placing a $10 bet. If the fraction were reversed to 7/2, the payout would be $35 with a $10 wager. As can be seen, implied probability matters as it affects the odds. In other words, expected outcomes pay less, but bets on underdogs pay more. Finally, if the fraction is balanced at 1/1, the stake is doubled with a win.

Reading and Converting CFL and NFL Betting Odds

Any best football betting sites and online casinos provide a calculator for converting odds between moneyline, fractional, and decimal. However, knowing the way to generate these conversions manually may prove helpful.

• From Fractional to Decimal: First divide the numerator by the denominator, then add 1 to the result. In this case, fractional odds of ½ becomes 1.50 (½+1).

• From Moneyline to Decimal: For negative numbers, divide 100 by the moneyline amount. Then, increase the result by 1. For example, a moneyline of +300 equals 4.00 in decimal (300/100+1). For positive numbers, first divide by 100, then add 1. 

• From Decimal to Fractional:  Take 1.00 from the decimal. For example, if the decimal is 5, the fractional is 4/1.

An example of the three types of American football odds in a game between two top Canadian football teams is shown in the table below.

Game	Moneyline	Fractional	Decimal	Profit on $10 Bet
Ottawa RedBacks	+235	47/20	3.35	$33.50
Draw	+215	43/20	3.15	$31.50
BC Lions	+125	5/4	2.25	$22.50

Difference Between NFL and CFL Betting Odds

Although the NFL and CFL are both professional football leagues in North America, there are a few significant discrepancies. One of these has a considerable impact on sports betting.

1. The Canadians have a longer field.
2. There are 11 players in the NFL. The CFL has 12.
3. A larger ball is used in CFL.
4. The NFL grants 4 downs per possession. The CFL allows 3.
5. Timeouts and play clocks have different rules.
6. Overtime formats are different.
7. Field goalposts are located differently.
8. The Cunucks possess an additional scoring method, the “Single Point.”
9. No “fair catch” rule in the CFL.

In the NFL, the lowest possible score is 2 points (for a safety). Nevertheless, there are also safeties in the CFL, where you score a single point (called a “rouge”) which is awarded on kicks. But the question is whether this or any of the discrepancies noted above affect the betting odds.

Despite this divergence, the odds on each game are pretty similar. With CFL games, bear in mind that a single rouge point changes the margin, which can, in turn, shift the odds. But if you’re looking to realize a profit from sports betting, many would consider CFL odds and that a bet on Canadian games is a better prospect. Because much less money flows into the smaller CFL, it needs to go a long way. Due to being spread thinly, there's a greater chance the sportsbooks could make line-setting errors, thereby allowing a player to exploit their CFL bets for profit.

Bottom Line

Understanding betting odds is crucial for success in sports betting, and it's not as complicated as you might think. In Canada, odds are usually presented in decimal format, and you can calculate your potential payout by multiplying the odds by your wager. Keep in mind that sportsbooks take a cut from each bet, typically around 10%.

When you're looking at odds for football bets in the US or Canada, remember that sportsbooks aim to balance the bets on both sides. So, they don't lose money, no matter the outcome. But don't worry about doing the math yourself; online sports betting sites will display your potential winnings before you place your bet.