Moneyline betting is pretty straightforward and involves betting on who is going to win. Unlike points spread which is based on who wins and by how much, a moneyline bet does not consider points spread.
Though this is probably considered the simplest type of bet, it can be confusing to understand how payouts work if you don’t know how to read odds. So we’re here to break it down for you.
Sports that are typically lower scoring (baseball, soccer, hockey) are usually bet using a moneyline. However, moneyline betting is also popular in football.
How To Identify A Good Moneyline Bet
Though a lot of bettors prefer betting on other markets, there are some great incentives to moneyline betting. Though moneyline betting often has low return rates for favored teams and athletes, the real value in moneyline betting comes from the underdogs.
This doesn’t mean that it’s never worthwhile to bet on favorites. It’s just important to recognize the right opportunities. One of the best opportunities to bet on a favorite is when you think a sportsbook has undervalued them use a BetMGM bonus code to have some extra cash to try for yourself. In moneyline betting, an undervalued favorite is one of the best strategies for success.
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- Lastly, check potential profits with this betting odds calculator.
To find an undervalued favorite, you also need to look at less higher-profile games. High profile games in the NFL attract a lot of betting interest and often the odds and subsequent payouts reflect that. Here’s an example. Say the Detroit Lions are scheduled to play the Indianapolis Colts. Neither of these teams is high profile enough to avoid moneyline betting. Doing your research and checking the moneyline market will help you assess the best option for an undervalued favorite.
On the flip side, a game that involves a popular team (say, the Patriots) as the underdog is also a great moneyline betting opportunity. Often in these situations, the public will back the popular team (regardless of them being not favored). In this circumstance, betting on the other side would be a valuable and smart moneyline betting opportunity.
Another important consideration is to look beyond not only the popularity of a team but also the quality of a team. For instance, there have been plenty of “good” teams who have lost infamous upsets to teams not considered as worthy. Important things to consider are how consistent a team is and how the teams measure up. What are each team’s unique strengths and weaknesses? How do they each play under pressure?
The Patriots are considered a great team, but they still lost to the Eagles in the 2018 Super Bowl, despite being favored by 5.5 points to win. Another important point to consider is where the teams are playing and if you think they will have an advantage at home. Considering these points will help you make successful moneyline bets.
Moneyline betting is ideal for times when you’re not convinced the favorite will cover the spread, but you still think they’ll win. Moneyline betting is a safe option in that case. As long as they win, so do you. The tradeoff is obviously lower odds and payout. However, there is great value in moneyline betting when you know what you’re doing.
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Negative odds: what do they mean
Negative odds denote favored teams. This also means that your wager won’t profit as much as it would if it was a positive number. For instance, a $100 wager on +220 odds would return a profit of $220. However, a team with -220 odds would require a $220 bet to return a profit of $100.
In our earlier example with the Titans and Patriots, you would need to bet $215 on the Patriots to earn a $100 profit. Betting on a team with negative odds is probably a safer bet, but it also costs more and returns a lesser profit. This example is the same for every sport.
For the favorite, the calculation for your profit is (100/Odds) * Bet Size. So if your team is listed at -150 and you bet $100, your profit would be (100/150) * $100 = $66.67.
Moneyline betting can be a great way for beginner bettors to introduce themselves to odds. However, it can also be great for seasoned bettors to find unique betting opportunities.
Positive odds: what do they mean
Moneyline odds are often referred to as American or US odds. Unlike in point spreads, where teams may be favored by 2.5 points – moneyline odds are awarded to teams individually and involve bigger numbers. Positive numbers refer to teams not favored to win; underdogs. These teams may be less likely to win, but they will also bring in more money if they do.
Here’s an example. Say you want to make a wager on who will win a specific game. The Tennessee Titans are the underdogs at +185 and the New England Patriots are favored to win at -215. Since the Titans are the underdogs, their profit margin is also higher. For a $100 bet on Titans, you’d turn a profit of $185 for a final payout of $285.
Sometimes you’ll see a moneyline with a lot of positive numbers. Currently, if you were to look up the odds for which teams will be in the 2020 Super Bowl, they would pretty much all be listed as positive numbers. In this case, the higher the positive number, the lower the team is on the totem pole.
Since right now there is still a lot up in the air and a lot of potential for things to shift, everyone is pretty much considered an underdog. However, as an example let’s say you want to make a wager that the Ravens (currently +220) will win. Every $100 bet, in this case, would turn a profit of $220 in return if they win.
For the underdog, the profit calculation is (Odds/100) * Bet Size. So if your team is listed at +650 and you bet $100, your profit would be (650/100) * $100 = $650.