If you’re looking to get involved with online sports betting, there’s hardly a simpler way to get started than with moneyline betting. In basic terms, these simple wagers require the bettor to do just one thing: predict who will win a specific game or event.
In this article, we’ll discuss everything you’ll need to know about the moneyline as a bet type, from how to read the odds to different leagues in which you can bet moneylines. Let’s dive right in and start learning more about this simple and effective way to wager on sports.
More on Moneyline Betting
How to Read Moneyline Odds
Every moneyline in the American odds format will be expressed with either plus or minus odds. There are two things to know about each category when you bet the moneyline: what they mean in terms of probability, and what they mean in terms of payouts.
A market listed with minus odds is expected to happen, as it has implied probability of over 50%. As for the payout, the profit will be less than the stake. For instance, odds of -125 imply probability of just over 55.5%, and you’d have to risk $125 to make a profit of $100.
If a wager listed with plus odds, the bet is either projected to miss or at dead-even 50/50 probability. It also means that the profitability will be equal to or greater than the stake. Odds of +200 imply odds of 33.3%, and you’d make $200 of profit off of a winning wager of +100.
Betting the Favorite
Let’s use an example to show how betting on a favorite might work with moneyline odds. We’ll use a hypothetical Super Bowl matchup between the Kansas City Chiefs and the San Francisco 49ers, something we’re certainly used to seeing in the real world.
In this example, we’ll have the Chiefs be the favorite (the team expected to win) with -135 odds. This would mean that the sportsbook thinks they have approximately a 57% chance to win, and you’d have to bet $135 to make a profit of $100.
Betting the Underdog
In this same hypothetical, the underdog 49ers, who would be expected to lose, would likely have odds of around +115, meaning implied probability of 46.5% with moneyline odds.
You might notice that the implied probabilities of these two sides of the same line add up to more than 100%; this is due to the “vig” or “house edge,” which gives the sportsbook a greater chance of making a profit.
If you placed $100 on a moneyline bet for the Niners, you’d make a profit of $115 as the potential payout, and you’d receive your $100 stake back as part of the payout as well if the underdog pulls off the upset.
Betting a Pick ’em Game
In some cases, the odds for a moneyline wager will be exactly even between the two teams. That is known as a “pick ’em,” where both sides have -110 odds. Once again, this is not an implied probability of 50% for either side because of the vig, but it’s a very unique betting opportunity nonetheless.
3-Way Moneylines
You won’t see this in every sport or league, but for certain competitions (mostly soccer) there will be a three-way moneyline. In this instance, the three outcomes you can bet on are the favorite to win, the underdog to win, or a draw/tie.
This is a tougher type of moneyline to hit, and as such, the payout can be greater. In fact, in many cases, all three ends of the moneyline have plus odds.
For example, let’s take a look at a Premier League fixture between Liverpool and Manchester City. These teams are often very evenly-matched, so you might see something like +180 odds for Liverpool, +120 for Manchester City, and +300 for the draw.
As an aside, you might be thinking that NFL games can end in a tie, even though it happens rarely. It’s so rare that NFL moneylines are presented as two-way, and if there is a tie, all wagers are voided and the stakes are refunded.
NFL Moneylines
If you’re one of the many sports bettors interested in the NFL, there’s betting lines for each game available on just about every sportsbook for a moneyline wager.
Sometimes, it can be really tough to win spread bets on NFL games with the efficiency of the markets. Especially for beginners, it could be a much better approach just to pick the outright winner of a game.
For instance, if the Ravens are -3.5 favorites, it could be easier to make a safe bet of around -190 on the moneyline than determine whether or not they’ll cover that challenging number.
In an NFL football game, moneyline bets do include overtime, so if your team wins in any capacity, your bet will hit.
College Football Moneylines
College football is no different. If you like a team to win outright, you can almost certainly find odds for them to do just that from a major sportsbook.
College football is defined by upsets. If you see an underdog who could pull off a big win, such as Purdue with +850 odds to pull off yet another upset against a top-ranked Ohio State team, skip the point spread and go for the big moneyline bet. A winning bet could grant you a big payout.
NBA Moneylines
With all of the injuries, rest, and load management that goes on during the NBA regular season, there are plenty of inefficient moneylines and thus opportunities for you to make some serious cash.
For instance, the New York Knicks could be favored with -150 odds to beat the Brooklyn Nets, giving the Nets around +130 odds. Knicks All-Star Jalen Brunson could be ruled out hours before tip off. If you can grab that +130 on the Nets after the Brunson news breaks but before the lines move, you could get some outstanding value.
Similarly to football, basketball moneylines do include overtime outcomes, so as long as your team wins, your bet wins, no matter what at the best sports betting sites.
College Basketball Moneylines
As much as college football is known for its upsets, college basketball’s March Madness might feature even more. Some sportsbooks had odds as long as +25000 on 16-seed Fairleigh Dickinson to beat No. 1 Purdue last year. A few bettors made massive money by backing the Knights to make history.
NHL Moneylines
NHL moneylines are relatively unique, as hockey is one of the few sports that usually features two-way moneylines, but sometimes three-way too.
This is because hockey commonly goes to overtime or even a shootout before the final margin. In some rare cases, you can find three-way moneyline sportsbooks that offer odds on the favorite to win in regulation, the underdog to win in regulation, and a tie at the end of regulation.
Moneylines vs. Point Spreads
Moneyline odds are one major way to bet on an individual game’s outcome, but a point spread bet can be another way to approach this task. Instead of simply picking one team to win straight, point spread bets require you to determine whether or not the favorite will be victorious by a projected margin.
Spreads are great for expressing extreme confidence in a favorite, or tentatively investing in an underdog. However, in what’s expected to be a close contest, moneylines are often going to be the way to play.
Calculating a Moneyline Bet
It’s not hard to calculate moneyline odds. In fact, they might be the simplest type of odds to figure out. If the moneyline price of the wager you’ve made starts with a minus sign, your profitability will be less than your stake. For -185 odds, you’d need to bet $185 to profit $100, so you’d be returned a total of $285 in potential winnings.
If you bet on a team with +160 odds, a wager of just $100 would net you a profit of $160 for a total winning return of $260 after wrapping in the return of your stake.
Responsible Gambling
When placing moneyline wagers, it’s absolutely vital to always practice responsible gambling.
This means to never gamble more than you can afford to lose, and always step away when you need to.
Most online sportsbooks will provide users with some responsible gambling resources, such as limits on play time, depositing and even wagering, as well as account time outs.
If an online sports betting app‘s provided options aren’t sufficient for you or anyone you know with a gambling problem, feel free to call 1-800-GAMBLER at any time for 24/7 support from the National Problem Gambling Helpline.
Moneyline Betting FAQs
We certainly hope that you’ve learned plenty of new information from this article, but we understand that you might still have a few more questions about moneyline betting.
We’ve compiled some of the most frequently asked questions about moneylines below, and answered them for your convenience, so that you can feel confident playing moneylines with any one of the top sports betting options on the market.
What is the moneyline in betting?
The moneyline for each team in a sporting event expresses the odds of that team winning the game outright. Positive odds represent probability at or below 50%, while negative odds mean the probability is above 50%.
How do moneyline bets work?
Moneyline bets are simple. With such bets, if the team you pick wins the game, your wager wins. Moneyline favorites will provide you with slightly lower payouts, while underdogs will help you win big, although these wagers can be tougher to hit.
Is it better to bet the spread or moneyline?
Betting on the spread and moneyline are both great approaches for different situations. If you’re a big fan of an underdog, or tentatively in support of a favorite, a moneyline is the way to go. Conversely, if you’re very confident in a favorite or cautiously interested in an underdog, you’ll want to play the spread.
What is the best moneyline betting strategy?
It’s always important to compare odds at different sportsbooks and make sure you’re getting the best odds for any given moneyline. Also, betting after news breaks but before the moneyline odds change can be a fantastic approach that can prove to be quite lucrative.
What is a moneyline 3-way bet?
A moneyline 3-way bet is usually going to be offered for a soccer game, which can commonly end in a tie. These odds sets give you the ability to bet on the favorite to win, the underdog to win, or the draw, often with plus-odds on all three outcomes.
