Jim Cramer Takes Early Look at Week 3 Odds and Best Bets

Bill Enright

The line is on the move and Jim Cramer identifies some spreads on the move before kickoff.

NFL Betting Preview Week 3

In Week 2 five-of-seven teams favored by six or more points covered the spread, which is much different than the results from Week 1 where several underdogs won outright. As for Week 3, there are several teams favored by more than six points. The Steelers, 49ers, Patriots, Colts, Chargers, and Saints are all favored by two field goals or more. 

It is crucial to pay close attention to the momentum of teams coming off their latest game when evaluating their upcoming match-up and the current odds from DraftKings SportsBook. 

When deciding to bet on the favorite and the expectation is the spread will decrease, that's an increase in value for betting on the team giving up points and a decrease in value for the team getting points AKA the underdog.  For example, the Saints and Packers opened up with New Orleans as a six-point favorite but has dwindled down to just three points. Gamblers looking to place a bet on the Packers were better off making the wager earlier in the week when Green Bay was getting six points. But bettors thinking Saints should cover are better off waiting until closer to kickoff as the line continues to trend downward. If betting on the favorite, it is much less challenging to cover a three-point spread compared to a six-point spread. While betting on the underdog, gamblers want as many points as possible.

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On the flip side, the value on the favorite can decrease when the spread increases as we've seen with some of the match-ups this week, specifically the Colts and Jets. Indianapolis started out as a 6.5 point favorite but the line has sky-rocketed to double digits. Locking in the bet earlier in the week and giving up a touchdown on the spread is much more attractive when betting on the Colts compared to the 11 point hurdle Indy must now overcome in order to cover.

On Thursday's episode, we'll dive more into line movement and display some charts for a more technical breakdown.

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Lines and odds are subject to change

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