Moneyline Bets

What is a Moneyline Bet?

A Moneyline bet is one of the simplest and most popular types of sports wagers, where you bet on which team or player will win a game or match. Unlike point spreads or totals, a Moneyline bet doesn’t consider the margin of victory. You only need to pick the winner, making it an easy option for beginners and a staple choice for experienced bettors.

Moneyline bets are available across various sports, including football, basketball, baseball, hockey, tennis, and more. The odds attached to each team or player indicate the payout potential and reflect the likelihood of each outcome. Understanding how Moneyline odds work and when to use this type of bet can help you make smarter betting decisions.

How Does a Moneyline Bet Work?

Moneyline bets focus solely on choosing the winner of a matchup. Here’s a detailed explanation of how they work:

Key Features of a Moneyline Bet

No Point Spread:

The Moneyline bet disregards the point spread, focusing only on the outright winner.

Odds-Based Payouts:

The odds determine how much you win relative to your wager. They reflect the perceived likelihood of each outcome.

Clear Outcomes:

A Moneyline bet is a straightforward win-or-lose wager, with no ties in most sports.

Applicable to Many Sports:

Moneyline bets are available for team sports like football and hockey, as well as individual sports like tennis and boxing.

Understanding Moneyline Odds

Moneyline odds can be expressed in three main formats:

American Odds:

Positive odds (+): Indicates an underdog. A +150 Moneyline means you win $150 on a $100 bet.
Negative odds (-): Indicates a favorite. A -150 Moneyline means you need to wager $150 to win $100.

Decimal Odds:

Commonly used outside the United States, these show your total return, including your initial bet.
Example: Decimal odds of 2.50 mean a $100 bet would return $250 ($150 profit + $100 original bet).

Fractional Odds:

Used primarily in the UK and Ireland, fractional odds show your potential profit relative to your stake.
Example: 3/1 means you win $3 for every $1 wagered.

Example of a Moneyline Bet

Imagine a basketball game between Team A and Team B. The Moneyline odds are as follows:

Team A: -200
Team B: +180

Here’s how this would work:

Betting on the Favorite (Team A):

You wager $200 to win $100 (total payout: $300, including your original bet).

Betting on the Underdog (Team B):

You wager $100 to win $180 (total payout: $280, including your original bet).

Advantages of Moneyline Bets

Moneyline bets are popular because of their simplicity and broad appeal. Here are some key advantages:

Easy to Understand:

Beginners often start with Moneyline bets because they’re straightforward—just pick the winner.

No Need to Consider Point Spreads:

You don’t need to worry about how much a team wins by, only that they win.

Works for All Sports:

Moneyline bets are available for nearly every sport, from team-based games to individual matchups.

Variety of Options:

Bettors can choose between backing favorites or underdogs, depending on their strategy and risk tolerance.

Flexible Payouts:

The odds-based payouts allow bettors to manage risk and reward by choosing safer favorites or higher-risk underdogs.

How to Place a Moneyline Bet

Placing a Moneyline bet is a simple process, whether you’re betting online or at a physical sportsbook. Here’s a step-by-step guide:

Choose a Sport and Matchup:

Select a sport and a specific game or event you want to bet on.

Review the Odds:

Check the Moneyline odds for each team or player. The odds indicate the potential payout and the implied probability of winning.

Decide on Your Bet Amount:

Determine how much you want to wager based on your bankroll and confidence in your pick.

Place Your Bet:

Confirm your selection and wager amount with the sportsbook. Online platforms typically allow you to review and confirm your bet slip before finalizing.

Track the Game or Match:

Follow the event to see if your chosen team or player wins.

Collect Your Winnings:

If your bet is successful, your winnings will be credited to your account or paid out by the sportsbook.

Types of Sports for Moneyline Bets

Moneyline bets are versatile and can be used across various sports. Here’s how they work in different contexts:

Football (American or Soccer):

Bet on the outright winner of a game or match. For soccer, Moneyline bets may also include options for a draw.

Basketball:

Choose which team will win the game outright, regardless of the margin.

Baseball:

A popular option for Moneyline betting due to the low-scoring nature of the sport.

Hockey:

Bet on which team will win, including or excluding overtime and shootouts, depending on the rules of the sportsbook.

Tennis:

Wager on which player will win a match, ideal for individual sports.

Boxing/MMA:

Place a bet on which fighter will win, either by decision, knockout, or any other method.

Esports:

Moneyline bets are available for video game competitions, where you pick the winning team or player.

Strategies for Moneyline Bets

While Moneyline bets are straightforward, having a strategy can improve your chances of success. Here are some tips:

Tips for Betting on the Favorite

Choose Strong Favorites Carefully:

Favorites with extremely low odds (e.g., -500) require large wagers for small payouts. Only bet on heavy favorites if you’re confident in their win.

Combine Bets in Parlays:

To increase potential payouts, combine multiple Moneyline bets on favorites in a parlay.

Avoid Overpaying:

Evaluate the risk versus reward. Avoid betting large amounts on favorites with minimal return.

Tips for Betting on the Underdog

Identify Value Picks:

Look for underdogs with realistic chances of winning based on team performance, injuries, or other factors.

Research Trends:

Study recent matchups, head-to-head statistics, and underdog performance in similar situations.

Manage Risk:

Bet smaller amounts on underdogs since the risk is higher. The larger payouts can offset lower win rates.

General Moneyline Betting Strategies

Understand Implied Probability:

Convert Moneyline odds to implied probability to assess whether the odds reflect the true likelihood of a win.

Shop for the Best Odds:

Compare odds across multiple sportsbooks to maximize your potential payout.

Stay Informed:

Keep up with team news, player injuries, weather conditions, and other factors that could impact the outcome.

Avoid Emotional Bets:

Don’t let personal bias or fandom influence your betting decisions.

Moneyline Odds and Implied Probability

Moneyline odds can be converted into implied probability, which reflects the likelihood of a particular outcome. Here’s how to calculate it:

For Negative Odds (-):

Implied Probability (%) = [Absolute Value of Odds / (Absolute Value of Odds + 100)] × 100

Example: -150 → [150 / (150 + 100)] × 100 = 60%

For Positive Odds (+):

Implied Probability (%) = [100 / (Odds + 100)] × 100

Example: +200 → [100 / (200 + 100)] × 100 = 33.3%

Understanding implied probability helps you evaluate whether a Moneyline bet offers good value.

Advantages and Disadvantages of Moneyline Bets

Advantages

Simplicity:

Easy for beginners to understand and place bets.

Wide Availability:

Offered for most sports and events.

No Need for Margins:

You only care about who wins, not by how much.

Flexible Options:

Bet on favorites for safer payouts or underdogs for higher potential returns.

Disadvantages

High Cost for Favorites:

Betting on heavy favorites often requires large wagers for small profits.

Risky for Underdogs:

While payouts are higher, underdogs win less frequently, increasing the risk.

Limited Value in Some Cases:

In lopsided matchups, the odds may not offer good value for either side.

FAQs About Moneyline Bets

Are Moneyline bets beginner-friendly?

Yes, Moneyline bets are simple to understand and ideal for beginners.

Can I combine Moneyline bets in a parlay?

Yes, combining multiple Moneyline bets in a parlay can increase potential payouts.

What happens if a game ends in a tie?

For sports that allow ties (e.g., soccer), sportsbooks may offer a “draw” option or refund bets on games that end in a tie.

Is betting on the underdog worth it?

Betting on underdogs can be profitable if you identify value picks, but it comes with higher risk.

How do I find the best Moneyline odds?

Compare odds at different sportsbooks to find the most favorable terms.