Understanding The CFL Odds Legend
Betting on the CFL can be done in many ways. From betting on the point spreads, moneyline, totals and futures, there’s enough to keep you busy during the season. You can also make prop bets like, Will Chad Kelly become the next Anthony Calvillo? (No.) Is it going to snow in July and ruin a game between the Elks and Lions? (Maybe.)
This page will give you the rundown on how to use CFL odds to make your picks.
Betting On The Point Spread
The point spread is the number oddsmakers use as a median between two teams to generate equal betting interest in both of them. It’s also the number oddsmakers predict as a good balance between those who bet the underdog and those who bet the favorite.
This is how it works: The team with the negative value means they’re the favorite to win. The team with the positive value means they’re the underdog. Let’s say the Ottawa Redblacks are playing the Calgary Stampeders. Ottawa is listed at -11.5 and Calgary is listed at +11.5. That means the favorite (Ottawa) must win by 12 points or more to cover the spread. If the underdog (Calgary) manages to win or not lose by more than 11 points, then they would cover the spread.
Point spreads often move if there are too many people betting on the same side of the game. Online sportsbooks have to move the line in this case to balance the action. They do this to encourage bettors to wager on the other side, otherwise the line would lose its appeal. This also reduces risk for the sportsbooks by giving them an equal handle on both teams.
Placing A Moneyline Bet
Moneyline bets don’t involve a point spread or OVER/UNDER (more on O/U below). The only thing you need to do when betting on the CFL moneyline is choose a sportsbook. When you pick the favorite, you’re picking the team with the higher win probability but that comes with a lower payout. When you bet the underdog to win, there’s a much bigger risk but you can win more money.
Let’s break it down: If the Saskatchewan Roughriders (+120) are playing the Hamilton Tiger-Cats (-140), you can bet on either team to win. Should you pick the Ticats and they win, you win your moneyline bet. If you bet $100 on the favorite (Hamilton), you’d win $171.43. To bet on the underdog (Saskatchewan), you’d win $120 on a $100 bet.
This type of bet is also referred to as a straight-up (SU) bet because there’s no spread to beat and no totals to consider.
Total Or OVER/UNDER
Totals betting or OVER/UNDER is the number set by sportsbooks that projects the total number of points scored by both teams in a matchup. As a bettor you have to predict whether the final combined score will exceed or go below the projected total. If the total is 47.5 and you think it’ll be a high-scoring game, you’ll want to bet the OVER. If you think the offense will struggle, you want to bet the UNDER.
Betting the OVER/UNDER is a popular form of CFL wagering, especially if the matchup is predicted to be a certain type of game (high-scoring, defensive battle). Plus, factors like the weather – this is a Canadian league, they don’t have it easy when it comes to Mother Nature – can influence the score and make the totals bet less dependable.
CFL Futures Bets
We don’t know who will win the Grey Cup but we can bet on it. When you make a CFL futures bet, you’re wagering on things like who will win their division, who will win the Grey Cup, or who will win the Most Outstanding Player award. Oddsmakers set the lines before the season starts but may alter them throughout the season based on performance.
If the Montreal Alouettes are predicted to go 1-17, you probably wouldn’t want to make a bet that they’re going to win the Grey Cup. However, if you go out on a limb and predict that the Als are going to pull it together halfway through the season, make it to the Grey Cup game and win it, your futures bet is going to pay off big time.