What Is an Octopus in Sports Betting?
Ever seen “octopus” pop up in a sportsbook and wondered what it means? An octopus in sports betting happens when a player scores a touchdown (6 points) and completes a 2-point conversion, totaling 8 points.
This unique wager offers substantial returns, but success lies in understanding how it works. Read on this guide to uncover the origins of octopus betting, strategies for predicting it, and how to make the most of this intriguing bet.
🔑 Key Takeaways
- Learn the origin of the sports betting term “Octopus”.
- Find out the impacts of an octopus in the gambling scene.
The Origin of “Octopus” in Sports Betting
The term “octopus” in NFL betting was coined in 2018 by Mitch Goldich, a Sports Illustrated writer. It originated during a Panthers vs. Washington game on October 14, 2018.
In the fourth quarter, Torrey Smith caught a 3-yard touchdown from Cam Newton, narrowing the Panthers’ deficit to 20-15. The team opted for a 2-point conversion, and Smith scored again, bringing the score to 20-17.
Inspired by Smith’s 8-point play, Goldich tweeted about naming this achievement. His friend Mike Wallace suggested “octopus” because of its eight legs, and the term has been used ever since.
How Octopus Betting Influences Sports Betting
Octopus bets, often found under novelty or exotic options in NFL games, typically pose questions like:
Will an octopus occur in Super Bowl LVIII?
- Yes (+250)
- No (-300)
The odds suggest the likelihood of each outcome, with “No” being the favorite. To qualify as an octopus, a player must score a touchdown and the 2-point conversion themselves. For quarterbacks, this means running both plays into the end zone.
Octopus Betting Impact on Sportsbooks and Bettors
Octopus betting adds excitement and novelty to sportsbook markets, sparking social media buzz and increased engagement when it happens.
For bettors, an octopus wager can lead to significant payouts. A $100 “Yes” bet at +1100, for instance, could yield a $1100 profit. However, this requires careful risk management, as the outcome is rare.
Most bettors choose the “No” option, as it’s more likely but offers low returns. At -6000 odds, you’d need to bet $6000 to win $100. Odds can also fluctuate based on game developments.
Octopus Predictions
Experienced bettors consider factors like player form, team performance, injuries, and historical data. Since the introduction of the two-point conversion, the odds of an octopus occurring in a game are around 2.25%.
In 2023, 12 games featured an octopus, with 2018 recording the highest number at 16. For Super Bowl 58, odds were set at Yes +1100 (8.33% chance) and No -6000, reflecting the rarity of such an event.
No octopus has yet been recorded in the 2024 playoffs. If you’re betting on an octopus, it’s wise to wager modestly and aim for a long shot payout.
Octopus Betting: Our Expert Tips
Betting on “Yes” for an octopus is risky but offers lucrative returns, while “No” is safer but less rewarding. If you’re venturing into this market for the next Super Bowl, follow these tips:
- Target key players: Bet on football teams with players who have achieved an octopus before, especially in red-zone situations.
- Research conversion trends: Focus on teams that frequently attempt two-point conversions and identify players likely to execute them.
- Shop for the Best Odds: Compare sportsbooks for the most favorable octopus betting lines and stick to a set budget.
🐙 Ready to Place an Octopus Bet?
The octopus is one of football’s most exciting feats—a touchdown and a 2-point conversion. Betting on it adds an extra thrill, but remember, it’s rare. For successful octopus betting, keep your wagers small and strategic.
Seeking safer options? Check out our sports betting education page for more gambling alternatives.