Las Vegas bookmakers’ reaction mixed on expanded NFL playoffs

The NFL’s playoff expansion from 12 to 14 teams beginning this season was met with mixed reviews from Las Vegas bookmakers, who welcome more wagering but worry about a watered-down product.

“From a bookmaking standpoint, the more the merrier. Extra games means extra (betting) handle,” William Hill sportsbook director Nick Bogdanovich said. “But, personally, I don’t care for it. I don’t like it when everyone in the league gets in the playoffs. It cheapens the regular season.”

The season again will feature 16 regular-season games and four division champions from each conference. But the wild-card field will expand from two to three teams from each conference, setting up Saturday and Sunday tripleheaders on wild-card weekend.

Under the new format, only the No. 1 seed from each conference, instead of the top two, will receive a first-round bye.

“It’s going to be awesome now having three NFL playoff games on Saturday and Sunday that first weekend,” Westgate sportsbook vice president of risk Ed Salmons said. “And just one team gets a bye. To me, that’s much more fair. It really puts extra meaning to being that No. 1 seed, given that the Chiefs would’ve played in the first round last year.”

Also under the new collective bargaining agreement, the NFL can expand the regular season to 17 games as early as 2021.

“I’m all for more games. Give us more games, and we’ll sign on,” Salmons said. “Extend the season to 25 or 26 weeks or whatever they want to do, we’re for it.”

Circa sportsbook manager Chris Bennett is concerned expansion might diminish interest in the league.

“It is getting watered down,” he said. “In most seasons, a team that’s fifth or sixth in the conference is not that highly regarded or exciting. The more teams you pile on, the less exciting it becomes.

“But you do have to weigh it against expected betting handle.”

Playoff odds

Circa has posted yes/no odds on teams making the expanded NFL playoffs.

Defending Super Bowl champion Kansas City is the heaviest favorite to make the postseason at -1,510, and the Ravens are next at -825.

The longest shots to make the playoffs are the Jaguars (+850), Redskins (+725) and Bengals (+700).

In the NFC, the 49ers (-305) and Saints (-295) are the largest favorites, followed by the Cowboys (-235), Eagles (-215), Buccaneers (-160), Packers (-155), Seahawks (-120) and Vikings (-115).

In the AFC, the other teams favored to reach the postseason are the Patriots (-225), Bills (-180), Colts (-165), Steelers (-155) and Titans (-125).

Teams on the bubble are the Texans (+120), Bears (+125), Browns (+145), Rams (+150), Chargers (+185) and Falcons (+200). The Raiders are +285 to make the playoffs and -345 to not make them.

The maximum bet on the playoff props at Circa is $1,000. A bettor placed a limit wager on the Panthers to reach the postseason, causing their price to move from +725 to +540.

Circa also has taken bets on the Broncos (+225), Dolphins (+450) and Steelers to make the playoffs and on the Bears to not make the playoffs (-145).

Circa has a plethora of NFL wagering options: yes/no Super Bowl odds, MVP odds, season wins, conference futures, division futures, 16-0 props, 0-16 props, Tom Brady props, most regular-season wins and losses, Raiders’ exact regular-season wins and draft props.

“With all the uncertainty in the sports world, it came down to what can we feel confident we can put up that wasn’t going to be a refund,” Bennett said.

Contact reporter Todd Dewey at tdewey@reviewjournal.com. Follow @tdewey33 on Twitter.