Super Bowl LVI is set to take place on Sunday, February 12, 2023, at State Farm Stadium, Arizona. The winners of the NFC will lock horns with the AFC champions, in a battle for the Lombardi Trophy.
As always, the NFL Championship game is expected to attract a lot of attention. The Super Bowl is traditionally the most-watched TV broadcast in the United States, with a viewership of well over 100 million most of the time.
Apart from being loved by sports fans, the game is also adored by sports bettors. According to research by the American Gaming Association, Americans are expected to wager nearly $8 billion on Super Bowl LVII. That number is even higher if you count in bettors from other parts of the planet.
Betting On Super Bowl LVII
If you’re planning to give Super Bowl betting a go, you have many NFL betting sites to choose from and every sportsbook in North America will have this game on offer.
It is quite simply the most bet-on annual sporting event in America.
If you’re just getting started with Super Bowl betting, you’ll find three betting markets to bet on the event – spread, moneyline, and points (over/under).
The most common way to bet on the Super Bowl can be found in the spread betting market. Here, the favored side in the betting will have a spread that they will need to ‘cover’ in order for the selection to be a winner.
For example, the spread for the Rams could be set at -4.5 meaning they start the game with -4.5 points. They would need to beat the Bengals by at least 5 points for the bet to pay out. Bets can also be placed on the outsider—in this example the Bengals—where they start the game with +4.5 points and they would need to stay within 5 points of the Rams.
The Moneyline betting market is a simple bet for a team to win outright, without considering the score difference.
The ‘minus’ is the favorite; the ‘plus’ is the underdog.
Bets are settled as soon as the match has concluded, with the wager settled as a winner or loser based on the selection and outcome. For instance, if you had betted on the Los Angeles Rams who were the favorite that year, then you would have had a winning bet on the match, while betting on the Bengals with the ‘plus’ symbol who were the underdogs, would have saw you lose the bet.
Total Points (Over/Under) Betting
Aside from betting on the match outcome, a good alternative can be found on the total points betting market. Aptly named, the bettor will simply place their wager on whether there will be either more or less than a sportsbook’s suggested number of total points in the match.
In Over/Under betting, it doesn’t matter which team wins.
For example, the screenshot above shows over/under 48.5 and the final score was 23 : 20 (a total of 43 points), which meant choosing ‘under’ 48.5 points would have been a winning bet.
Super Bowl Props
There are also ‘proposition’ bets or ‘prop’ bets, for short. Sportsbooks will sometimes propose bets outside of a game’s outcome, such as the coin toss, the halftime show, what color Gatorade gets poured on the coach, which side of the Mississippi River the winning team will be from, and other crazy Super Bowl prop bets.