Moneyline Bets: What Are They and How Do They Work
Moneyline bets are among the most basic and popular in the sports betting world. What is a bet using a moneyline? A moneyline bet is a gamble on who will win a game or a fight, simple as that. Think one team will win a game? Bet on them to win, and if they do, you win.
Almost everyone who has ever wagered on anything, even with friends, has done so on the moneyline. Moneyline bets have nothing to do with the manner in which a team or individual wins or the margin of victory (in points, runs, or goals). If the team or individual you choose triumphs, your ticket is a winner. The only thing that issues is the tick placed in the win column.
We are going to teach you everything you need to know about moneyline bets and give you some examples so you know what you are up against!
What’s with All the Numbers and Symbols in Moneyline Bets?
Which part of a brick-and-mortar sportsbook or mobile betting app grabs your attention first? Tons of numerical data. The moneyline is a three-digit number that always has a positive (+) or negative (-) sign before it and is located inside an enormous numerical field.
Let’s have a look at the significance of these signs and numbers from a betting point of view.
Team A
-180
Team B
+150
Favorites
The “favorite” in a game is the team that is believed by many to have the best chance of winning betting odds. The moneyline usually uses a negative sign to represent the favorite. So, for instance, let’s assume a moneyline favorite is displayed as -180 on your betting board. The amount before the negative sign is the minimum bet required to get a $100 payout. To win $100, a bettor must risk $180.
Another individual who wants to win $10 is willing to risk $18. A bettor who aims for a payout of $50 will place a wager of $90, which is half the total amount of $180. It’s important to keep in mind that if your chosen team loses, the sportsbook keeps the amount you bet. If your chosen team emerges victorious, you will receive your original investment along with the winnings.
For instance, if you placed a $180 bet to win $100, a successful wager would yield a payout of $280. On the other hand, if you placed an $18 bet at -180 moneyline odds, you would receive a payout of $28 if you win.
Underdog
A moneyline with a plus sign represents the underdog, whereas a moneyline bet with a minus sign represents the favorite. But you should know that occasionally a favorite bet has a plus symbol next to it.
Here is a little clarification: Unlike a football game, when there are only two teams to consider, it is far more difficult to pick a winner in individual events with dozens of contestants, such as tennis and golf tournaments, cycling competitions, NASCAR races, and so on.
Therefore, when odds are posted on these specific events, the “favorite” (the person oddsmakers feel will win) will typically have a plus sign next to their name. The same holds true for betting on the future. Preseason betting on the winner of major events, such as soccer’s World Cup, NBA Finals, or the Super Bowl, typically gives the favorite a moneyline of +100.
Moneyline odds that started out positive will eventually turn negative as the season, or event develops, and oddsmakers learn which teams or players stand out from the pack.
Even/Pick ’em Odds
Moneyline odds of +100 are not uncommon–those are “even-money” odds. Oddsmakers consider these matchups to be a toss-up.
At +100 odds, a $50 bet guarantees a return of $50, a $2,000 bet guarantees a return of $2,000, and so on. “Pick ’em” (often abbreviated as “PK”) is the point spread betting equal to +100 moneyline odds.
Moneyline Payouts Can Vary Wildly
Moneyline bets always have the same requirements to win, but the payouts will fluctuate. It would be financially disastrous for a bookmaker to pay out an equal amount for every team, and it’s safe to assume that nobody would ever gamble on the underdog if everyone always gambled on the heavy favorites. If there weren’t any surprises, the betting site would go under immediately.
In order to address this issue, gambling sites have to encourage more individuals to place bets on the underdogs while simultaneously discouraging placing wagers on the favorites. To do this, sportsbooks will adjust the payout for winning moneyline bets. The payout from the sportsbook will decrease if the team you picked is the clear favorite to win–this is supposed to decrease the urge to place the wager. The gambling site will offer you a higher payout if the team you select to win is an underdog, making bettors more inclined to place a bet on the underdog.
The theory is that the sportsbook will collect equal amounts from bets on both teams thanks to the differential payments and earn a profit from the tiny percentage they cut off the top of winning bets and pay out the exact same amount of money regardless of who wins.
Sports betting sites like their work in the gaming industry but have little interest in actually gambling. They’re trying to ensure a profit, regardless of the outcome of the game, by whatever means necessary.
The Three Possible Results of a Moneyline Bet
Typically, your bet will result in one of the following results: win, lose, or draw/draw no bet.
- Win: If a bettor picks the victorious person or team, or the draw if it is an option, they will receive their winnings. In sports like soccer (or European football) and boxing/mixed martial arts (MMA), the draw is sometimes a possibility.
- Lose: If a bettor doesn’t choose the winning athlete or team, they lose their money. If a match or fight finishes in a draw, bettors who did not choose the ‘draw’ option will also lose their money.
- Draw/draw no bet: A Draw/no bet happens when the outcome of a draw is not an available option on a moneyline bet, despite the fact that it is a mathematically possible result. This often occurs in soccer matches where the only possible outcome of a moneyline bet is a win for either team. In the event of a tie with this wager, the bettor receives a complete refund, just as if the outcome had been a push. However, if a draw is a choice on the moneyline bet, it is the only way a gambler may win their entire wager. If not, the bettors will have to take a loss.
Advantages of Moneyline Bets
Moneyline bets are nice because they are straightforward–it’s an excellent starting point for those who are new to sports betting. There aren’t any complicated checklists to complete before placing a wager. Bet on a particular team, and if they come out on top, you win the money you put down. To better understand the implied probabilities and value in moneyline bets, it is helpful first to get familiar with the various payouts.
In the following section, we will discuss the importance of searching for value rather than focusing solely on winners. Calculating the value of moneyline bets is comparatively easier than spread or other kinds of bets. The advantage is particularly beneficial for bettors who prefer to use a mathematical approach when placing their bets.
Betting Strategies for Moneylines
Looking for value instead of winners: The key to winning moneyline bets is identifying scenarios in which the rewards are disproportionately higher than the odds of the result–value refers to this quality. When a betting site overpays for a clear favorite, you know you’ve discovered a good bet.
If, on the other hand, the gambling site is paying out an excessive amount for an underdog that you don’t think is much of an underdog, you’ve found value. Moneyline bets with value will provide profits over time if wagered regularly!
Stay away from overwhelming favorites: Big-money sports bettors may dispute this tip, which is fine. We’ll make our case and let you decide. In an approaching MMA event, a TRex will face a puppy. Though fast and spry, the puppy can’t win. Trex odds may be -10000. Should you place this bet? If you think the puppy has no chance, it’s a wise bet. If you bet $100, the battle would net you $1. That’s a lot to risk for a small payoff.
However, it may still be a smart play, and we anticipate bigger bettors to disagree. If you bet a lot on this battle, you may see returns. You decide whether to gamble on overwhelming favorites. If it has value, it is a nice bet, but we avoid them if they become overwhelming favorites.
Know what the moneyline means: Moneyline odds indicate more than simply your winnings. They also give each team’s betting victory probability. Instead of walking you through the complicated mathematics, utilize an implied probability calculator on the internet for the conversion. To convert the moneyline odds, enter the given odds and then click on the convert button. The output will be a percentage value; this represents the likelihood of the team winning as estimated by the gambling site.
One approach is to determine the probability (expressed as a percentage) of a team winning a game and then convert it into moneyline odds. After calculating the odds, you can explore various gambling sites to find the one that offers better odds than what you think you’ll get.
The Relationship Between Moneyline And Point Spread
Bets on the moneyline and bets on the point spread are different from one another, yet they are related in a certain way–at the very least, in terms of the potential return on investment. The team that is the favorite to win using the moneyline will also be the favorite to win using the point spread, but the moneyline favorite will have superior odds.
Moneyline Bets FAQ
If you still have questions after reading this, they are probably similar to those we’ve heard from our readers, so if we did not address them all, check out the FAQ section below!
Do Parlays Allow Moneyline Bets?
Yes, it is possible to parlay multiple moneyline bets together. It’s important to remember that picking a few favorites, especially overwhelming favorites, will not result in the same payoff as picking teams who are closer to being even (-110) or underdogs.
How Good Are Moneyline Bets?
They are absolutely fine–your betting choices are based on what you can afford. Large bets on clear favorites aren’t a long-term profitable strategy since favorites consistently lose. Although the “spread” is regarded as the primary equalizer and requires a little extra handicapping (by what amount will X side win or lose?), choosing the team that wins straight up is perfectly okay.
How Do Bets on the Moneyline Work?
Depending on the individual strengths of each team and the nature of their upcoming game or match, the oddsmakers will set a price for one of the two. Simply put, bookmakers will set odds for each team based on what they think it should cost a bettor to pick a team as the winner. In American oddsmaking, a price closer to “100” indicates a more evenly matched pair of teams. There are two equally viable arguments when the value is between -120 and +120, sometimes known as the “coin flip” range.
Does a Moneyline Change after It’s Been Set?
Yep! Betting moneylines, spreads, and totals can change at any time. They change in response to the wagers placed, or “action,” especially those from customers that the bookmaker perceives to be more knowledgeable.
Achieving long-term success in any endeavor requires not only getting on the correct side but also obtaining the most affordable price as well as good value. Suppose two individuals placed a bet on the Kansas City Chiefs winning the Super Bowl. However, Bill placed his bet a week before the event at -130, while Kevin placed a last-minute bet and got Kansas City at -120. In this scenario, Kevin gets a better price and payout percentage-wise.
Can You Combine Spread and Moneyline Bets in Parlays?
You absolutely can! Any spread bet(s) included in the parlay will determine the payoff possibility. Spread bets typically have a vig of -110.
Are There Differences in Moneyline Bets between Sportsbooks?
Yes! At times, they show significant differences. It’s a good idea to look around online for the most favorable deal on the team or side you are interested in. One book can have a -200 spread while another might have a -160 spread–you would gain an additional $12.5, betting the same $100 if your team won at -160.
What Is a Moneyline of +200?
Think about this as a bet with a 2-to-1 ratio. A line with a +200 odds would yield a profit of $2 for each dollar wagered.