What prevents someone from betting $1 on every NFL team to win the super bowl, at the beginning of the season where the odds are all pretty good?
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Let’s say you do that, and bet $32 total. If the winner ends up being the Chiefs, who have the best odds, congrats, you win 5 dollars. After betting $32, meaning you lose $27. In fact, if the winner is any of the Chiefs, Buccaneers, Bills, Packers, Ravens, 49ers, Rams, Browns, Seahawks, Titans, Saints, Cowboys, or Chargers, you will lose some amount of money doing this, because the payout for any of those teams winning is less than $32. And the winner will very likely be one of those teams, because those are the 13 best teams. Their payouts are lower for a reason.
I have a feeling you looked at the odds and saw that the Chiefs were, for example, +500 (that’s what I found when looking it up), and you probably took that to mean betting $1 will get $500 if they win. But that is incorrect. Those numbers are based on a $100 bet. Betting $100 on the Chiefs will get you $500 if they win the Suoer Bowl. Betting $1 on them will get you $5 if they win.
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