What is a Moneyline Bet?
A moneyline bet is a type of sports wager that involves picking which team or athlete will win a particular game or event. In contrast to point spread betting, where the underdog is given a handicap to level the betting odds, moneyline betting relies solely on the outcome of the game. The bettor simply selects the team or athlete they think will win and places a bet on that outcome.
Moneyline betting odds are represented by a plus or minus sign, indicating the odds of each team winning. A plus sign denotes the underdog, while a minus sign denotes the favorite.
Overall, moneyline betting is a simple and straightforward way to bet on sports, making it a popular option for both novice and experienced bettors alike.
In moneyline betting, favorites are displayed using a negative number. The negative number indicates the amount of money you would need to bet in order to win $100. For example, if the moneyline odds for a particular team are -150, you would need to bet $150 in order to win $100 if that team wins. The negative sign indicates that this team is favored to win the game or event.
The size of the negative number indicates how heavily favored the team is. The larger the negative number, the more heavily favored the team is and the less money you would win if you bet on them. For example, if the moneyline odds for a team are -500, they are considered heavily favored and you would need to bet $500 to win just $100 if they win the game or event.
Conversely, underdogs are displayed using a positive number. The positive number indicates the amount of money you would win if you bet $100 on that team and they win. For example, if the moneyline odds for a particular team are +200, you would win $200 if you bet $100 on that team and they win the game or event. The positive sign indicates that this team is considered less likely to win the game or event.
The size of the positive number indicates how much of an underdog the team is. The larger the positive number, the greater the underdog and the higher the potential payout for a winning bet. For example, if the moneyline odds for a team are +500, they are considered a significant underdog, and a $100 bet on them would result in a $500 profit if they win the game or event
Even or Pick 'em
A "pick 'em" in moneyline betting refers to a situation where the two teams or athletes are considered evenly matched, and there is no clear favorite or underdog. In this case, the moneyline odds for both teams or athletes would be exactly the same, usually represented by a moneyline of "Even" or "even money."
When betting on a "pick 'em" game, bettors must simply choose the team or athlete they think will win, with no handicap or point spread involved. In this case, the payout for a winning bet is usually even money, meaning that the bettor would win the same amount they wagered.
Pick 'em games can be exciting for sports bettors, as they often involve close matchups with no clear favorite or underdog, leading to a more unpredictable outcome. However, it is important to remember that even in a pick 'em situation, there is still a chance of a tie or a push, where the game ends in a draw or a margin of victory that exactly matches the point spread or handicap, resulting in a refund of the original wager.
How to Bet the Moneyline
To make a moneyline bet, follow these steps:
- Choose a sportsbook. Seek out a sports betting site of choice that offers moneyline betting on the sport and event you want to wager on. There are many online sportsbooks available – and we've done the legwork for you with our list of the best sportsbooks!
- Select the game or event. Find the matchup you want to bet on and identify the moneyline odds for each team, athlete or outcome.
- Choose your bet: Decide which team, athlete or outcome you want to bet on, then decide on the amount of your wager. Moneyline betting is straightforward: you only need to pick the winner of the game or event.
- Place your bet: Enter the amount you want to wager and confirm your bet. If you are betting online, follow the prompts to submit your bet. If you're betting in person, hand your bet slip to the cashier and make your payment.
- Wait for the outcome. Once the game or event is over, check the results to see if your bet was a winner. If your bet was successful, you will receive a payout based on the moneyline odds for the team or athlete you chose. If the bet was voided or a push, you'll receive a deposit in the amount of your original wager.
Moneylines vs. point spreads
Moneylines and point spreads are two of the most popular types of sports betting options, and each has its own advantages and disadvantages.
Moneyline betting is a straightforward way to bet on the outcome of a game or event, with no point spread or handicap involved. Bettors simply need to pick the winner of the game, and the payout is determined by the moneyline odds. Moneyline betting is popular for sports like baseball and hockey, where the final scores tend to be lower, and a single goal or run can make a big difference in the outcome of the game.
Point spread betting, on the other hand, involves a handicap or point spread that is added to the score of the favored team or subtracted from the score of the underdog. Bettors need to pick which team will cover the point spread, meaning that they will either win the game by more than the point spread or lose by less than the point spread. Point spread betting is popular for sports like football and basketball, where high scores and blowouts are more common.
Overall, the choice between moneyline and point spread betting depends on personal preference, the sport you are betting on, and the specific game or event. Moneyline betting is simpler and easier to understand, while point spread betting can offer more options and potentially higher payouts.
The three types of outcomes on a moneyline bet
The three possible outcomes of a moneyline bet are:
- Win: If the team or athlete you bet on wins the game or event, you win your bet.
- Loss: If the team or athlete you bet on loses the game or event, you lose your bet.
- Push or tie: In some cases, the game or event may end in a tie or with a margin of victory that exactly matches the point spread or handicap. In this case, the bet is considered a push or a tie, and the original wager is refunded to the bettor. However, it is important to note that in some sports, such as soccer or tennis, a tie or draw is a possible outcome and may not result in a push.
Moneyline Line Shopping
Moneyline line shopping refers to the practice of comparing the moneyline odds at different sportsbooks to find the best value for a particular bet. Different sportsbooks may offer slightly different moneyline odds for the same game or event, and by shopping around and comparing odds, bettors can increase their chances of making a profit.
For example, if one sportsbook offers a moneyline of -150 for a favorite team, while another offers -130, it may be more advantageous for the bettor to place their wager with the second sportsbook, as they can potentially win more money with a lower risk.
Line shopping can be done manually by comparing the odds at different sportsbooks, or through the use of specialized tools and software that can quickly compare and identify the best odds. It is important to note that line shopping can be time-consuming and may require opening accounts at multiple sportsbooks, but it can ultimately lead to better profits over time.
What are Moneyline Parlays?
Moneyline parlays are a type of sports betting where multiple moneyline bets are combined into a single wager, with the potential for a larger payout. In a moneyline parlay, bettors must correctly pick the winners of two or more games or events to win the bet. The more games or events included in the parlay, the higher the potential payout, but also the higher the risk.
For example, if a bettor wants to bet on three football games, they could make a moneyline parlay by selecting the winners of all three games. If all three teams win, the bettor would win the parlay and receive a higher payout than if they had made three individual moneyline bets. However, if even one of the teams loses, the entire parlay is lost, and the bettor receives no payout.
Moneyline parlays can be an exciting and potentially lucrative form of sports betting, but they can also be risky due to the need to pick multiple winners correctly. Bettors should always be aware of the odds and potential payouts before making a moneyline parlay bet and should only include games or events that they have researched and feel confident in their selections.
What is a Moneyline Prop Bet?
A moneyline prop bet is a type of sports betting where the focus is on a specific event or outcome within a game, rather than on the overall outcome of the game. Prop bets, short for proposition bets, are wagers made on whether a specific event or outcome will occur during a game, such as the number of points scored by a certain player, the number of yards gained in a quarter, or the first team to score a touchdown.
A moneyline prop bet, in particular, is a bet on which team or player will win a specific prop bet. For example, a moneyline prop bet on the first player to score a touchdown in a football game might have odds of -110 for one player and +120 for another player. If the bettor correctly picks the player who scores the first touchdown, they would win the bet and receive a payout based on the moneyline odds.
Moneyline prop bets can add excitement to a game and offer a way to bet on specific events or outcomes within a game. However, they can also be more difficult to predict than traditional moneyline bets, as they often involve unpredictable factors such as individual player performance. Bettors should always do their research and have a good understanding of the odds and potential outcomes before placing a moneyline prop bet.
Moneyline Live Betting
Live moneyline betting, also known as in-play or in-game betting, is a type of sports betting that allows bettors to place wagers on a game or event that is already in progress. As the game unfolds, the moneyline odds can change based on the score, time remaining, and other factors. Live moneyline betting allows bettors to take advantage of these changes by placing bets on the outcome of the game in real-time.
For example, in a football game, a team may be a heavy favorite before the game starts with a moneyline of -300. However, if that team falls behind early in the game, their moneyline odds may change to +200. Bettors who believe that the team will come back to win the game can take advantage of the higher payout by placing a live moneyline bet on that team.
Live moneyline betting can add an extra level of excitement to sports betting, as bettors can adjust their strategy and place bets based on how the game is unfolding in real-time. However, it can also be more challenging than traditional pre-game moneyline betting, as the odds are constantly changing, and quick decision-making is required. Bettors should have a good understanding of the sport, the teams, and the odds before placing live moneyline bets.