Moneyline Betting Odds Explained
One of the most common types of sports betting lines when wagering on a game is the moneyline. You will see moneyline odds for every game and every sport played. A moneyline is a type of straight wager where the bettor wagers simply on who will win the game/match/etc.
Quick Explanation - The easiest way to think of moneyline betting odds is that you are only betting on who wins the game. It does not matter how many points or goals they win by, all that matters is who wins. If you see a - (negative) symbol then that team is the favorite and the team with the + (plus) sign is the underdog. Keep reading below to understand how moneyline odds work or visit the homepage of ExplainBettingOdds.com to read about odds in general.
Understanding How Moneyline Betting Odds Work
Well, to understand the moneyline, you must also understand betting against the point spread. Most everyone familiar with betting has heard of betting against the spread at some point. The moneyline and the point spread are along the same line, though there is one very big difference.
Betting the moneyline would simply be picking the team in a matchup that you believe will win the game straight up. If that team wins the game, no matter the margin, then you win the bet. If that team loses, no matter the margin, then you lose the bet.
Seems pretty easy right?
Well, it's definitely easier than betting the point spread, in which a team has to cover a spread installed for a match up however you should know that moneyline wagers do not payout the same as a wager against the spread. Keep reading to learn more about payouts when betting on the moneyline.
Understanding Payouts When Betting On The Moneyline
The biggest differences on the moneyline though, aside from no point spread, is the payout. The idea behind a point spread is to bring the two teams in a match up to a more even playing field. If a team is better than the other, the points given by the favorite brings the underdog to a more even field. That is not the case on the moneyline.
Simply put, you will have to risk a whole lot more money on a favorite to profit. On the flip side though, if you bet on the underdog, the potential profit is a lot bigger on the moneyline than betting on the point spread. That is because the likelihood of the underdog winning is slim on the moneyline.
Explanation Of How Moneylines Work In MLB
- Atlanta Braves -300
- Philadelphia Phillies +200
This is an example of a moneyline you could see in Major League Baseball. The raves are matching up with the Phillies, with Atlanta set as the favorite. You can tell Atlanta is the favorite because of the minus symbol. It is indicative of the amount that must be risked to return a profit. At -300, a $1 profit is made for every $3 risked on the Braves to win the game. On the other side, at +200, that is the same as saying 2/1. That means, for every $1 risked on Philadelphia to
win the game, a $2 profit is returned. Moneylines are simply straight up betting lines with no spread involved, which is why they can range quite significantly.
Understanding The Point Spreads In Football
- Denver Broncos -300
- Jacksonville Jaguars +300
Here in this example, the Broncos have been set in the role of the favorite, going off at -300 on the betting line. That means, for every $3 risked on Denver to win, a $1 profit is returned. So if you wager $30 on Denver to win, you stand to win $10. On the flip side, the Jaguars are set as a +300 underdog. That means for every $1 risked on Jacksonville, a $3 profit is returned. So if you were to wager $10 on Jacksonville to win, you would profit $30. So you can certainly see the disparity on the payout and why someone might want to take the Jaguars over the Broncos. Also, taking underdog moneylines in parlay bets can be huge for your payouts!
Understanding The Moneyline Odds In The NBA
- Los Angeles Lakers +200
- Miami Heat -200
Here in this moneyline example for the NBA, the Lakers are matching up with the Heat. Miami has been set in the role of the betting favorite, going off at -200 on the betting line. As such, a $2 wager is needed to profit $1. So if you were to wager $200 on Miami, as $100 profit is returned if the bet is won. On the other side of the equation, the Lakers are in the underdog role. at +200, that is the same as 2/1. So, for every $1 risked on L.A to win, a $2 profit is returned. You can see a wide range of profits for a moneyline, because the underdog and favorite can be far apart straight up with no point spread.
Bovada Sportsbook - Best Sports Betting Site For Betting On The Moneyline
Bovada is without a doubt the best place to wager on the NFL and especially when it comes to moneylines. They take a little bit longer than other sportsbooks to roll out but they are usually right on the money and offer better payouts than their competitors. Plus, Bovada has a new 50% match bonus good for up to $250 in freeplay when making your first deposit.
Bovada welcomes players from the U.S. excluding residents of Maryland and Washington state and has a plethora of deposit methods that have high acceptance rates when used to fund accounts.
BetOnline Sportsbook - Best Sportsbook Bonuses And Promotions
Because of the high turnaround of NBA games during the regular season, savvy bettors simply can't wait for the moneylines to be issued and for that reason we recommend BetOnline because they are always the fastest to get NBA lines available. Plus, it doesn't hurt that they give every bettor that signs up for an account and makes a deposit a 25% to $900 bonus for life. That's right, bonuses on every deposit. not just the first like most other books. If a book offers a reload bonus, it is seldomly ever as good as the first bonus but BetOnline is the exception.Source: www.explainbettingodds.com