When you bet on "division finishing position", you are betting on where a team will finish in their division - 1st, 2nd, 3rd or 4th.
So, let's look at an example - the Arizona Cardinals, who are expected to be quite terrible heading into the 2023 season. As expected, the odds of the Cardinals finishing 4th have the lowest payout:
1st Position in Division, +2500
2nd Position in Division, +1000
3rd Position in Division, +500
4th Position in Division, -265
As you can see, the Cardinals are overwhelming favorites to finish last in their division.
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If you believe that a team will either be much worse or much better than expected, you can realize some pretty large profits by going contrarian.
