First, let’s explore how to bet on the Moneyline. The Moneyline is the simplest form of betting. Essentially, if you bet on the winning team, you win the bet. However, Moneyline bets can vary greatly in their odds. Betting on a heavily favored team will not yield odds at +100. For this reason, there are times when betting on the Moneyline for a team may not make as much sense. But we’ll delve into that later. The favored team expected to win will have a minus sign (-) next to a number, while the underdog will have a plus sign (+) next to a number. This indicates the line for the two teams. A team favored at -350 instead of -150 is much stronger, as it suggests you need to bet more to win $100. Therefore, the higher the number next to a minus sign, the more favored the team. The same principle applies to underdogs. If an underdog is +600 instead of +150, they are much more unlikely to win that particular game.
Understanding the Moneyline
The simplest way to explain the Moneyline is through a few examples. Let’s say a team is favored at -200 odds. This means you have to bet $200 on that team to win $100. For the underdog, it’s the opposite. If an underdog has odds of +500, you only have to bet $100 to win $500 if the underdog pulls off the win. There are online odds calculators available on various sites if you’re curious to see the results of combining multiple Moneyline bets into a parlay.
Moneyline: Advice for Beginners
Vig, or the house edge, does exist in Moneyline bets. Remember that vig exists regardless of the type of bet you make. It applies to Moneyline, point spread, teaser, parlay bets, and more. Most sportsbooks implement vig to profit from taxing bettors, as they do not take positions on bets. This is a common practice, so don’t expect your bets to be completely free.
How to Win with the Moneyline
Winning a Moneyline bet is straightforward. If you place a Moneyline bet on the winning team, you win the bet. Unlike with a point spread, you don’t need to win by a certain number of points. If your team wins, you win.
Moneyline Payouts
Moneyline payouts can vary greatly depending on the team, game, and sport you are betting on. Betting on Floyd Mayweather in his prime, for example, may not yield significant profits if he wins. Since he was undefeated and never lost, the potential payout would be low. If you bet on an NFL game between two evenly matched teams with similar records, the payout would be roughly equal on either side. Moneyline is best used when you have strong confidence in a team’s chance to win, especially if they are considered an underdog in that particular match.
How to Place a Moneyline Bet
To place a Moneyline bet, you’ll need to create an account with an online sportsbook. Once you’ve completed the account creation process, you can browse through different sports and bets on the main page. When the app or site lists all the games, you should see a breakdown of the different types of bets you can make on each individual game. This usually includes the Moneyline, point spread, and the total (both over and under). You can then click on the team you want to bet on to place a Moneyline bet. On the next page, you’ll see the odds provided by the sportsbook, including the vig. You can decide how much you want to bet on the Moneyline for that particular game and submit the bet. It’s a fairly straightforward process, especially after doing it a few times.
Moneyline Summary
In conclusion, Moneyline bets are a simple way to bet on sports that can be easily understood by everyone. They can be a great option for confident bets on winning teams. Moneyline odds are rarely even and vary greatly depending on the sport, game, or individual involved. To win, your team or player simply needs to win. There are no points to cover like in a point spread or multiple legs to hit like in a parlay. The Moneyline may also include the vig or house edge that sportsbooks charge for every bet placed on their site or app.
