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Moneyline wagers in sports are the basic, traditional way of making a wager. The bettor simply picks a team/player to win the game. If their chosen team/player wins the game, they win the bet and if they lose the match, they lose the bet.
Unlike in a total or a point spread bet, there are no additional conditions.
What Does Betting the Moneyline Mean?
A moneyline bet is a wager on the outright winner or loser of a game. For example, you might bet on the Yankees to beat the Red Sox. The final score does not matter as long as the Yankees win. Whether they win 1-0 or 11-3, you would win the moneyline bet.
Moneyline Odds
Moneyline odds are perhaps the easiest to read. This is especially the case in the United States, where they are based on $100. The odds show the bettor how much money they stand to win from a $100 wager or how much money they need to bet to win $100.
Take an NBA game between the Golden State Warriors and the Boston Celtics. Positive odds mean a team is the underdog and negative odds mean the team is the favorite. The moneyline odds will look like this;
| Matchup | Moneyline Odds |
|---|---|
| Golden State Warriors | -150 |
| Boston Celtics | +130 |
Favorites vs Underdogs
Nearly every sports encounter has a favorite and an underdog. With moneyline odds, the favorite has negative odds while the underdog has positive ones. In the above example, the Golden State Warriors are the favorites. Their odds show how much you need to wager to win $100 from a bet. So, in this case, you’ll need to wager $150 to win $100.
On the other hand, the Bolton Celtics are the underdog. Underdogs typically have bigger payouts; their odds show how much wagering $100 will win you. In this case, a $100 wager on the Bolton Celtics wins you $130.
Three-Way Moneyline
Draws are pretty common in some sports at the end of regular time. Traditionally, a draw meant the sportsbook had to return the stake to the bettor. Today, however, three-way moneylines account for the possibility of a tie. Thus, bettors can wager on either team winning or the match ending in a draw.
Take a soccer match, for instance. Draws often occur in soccer, especially during league games. Thus, most sportsbooks prepare a three-way moneyline for soccer games.
| Three-Way Moneyline | Odds |
|---|---|
| LA Galaxy | +145 |
| LA FC | +200 |
| Draw | +220 |
Betting the Moneyline: Implied Probability
Sportsbooks prepare moneyline odds based on the implied probability of either team winning the game. This probability represents the market’s expectation of the sports event. Generally, the fewer the chances the team has, the more favorable the odds they’ll get.
How Does the Sportsbook Earn Money on Moneyline Bets?
Sportsbooks have to make money in some way. For one, they’ll take the money for all lost sports wagers. But this is not enough. So, online sports betting sites typically include some vig when calculating the odds. This represents the charges for accepting the bettor’s wager and allows them to make money, even from the winning side.
Generally, moneyline odds have a relatively lower vig than other types of bets. It’s usually at around 4-5% of the bet amount.
Why Do Moneyline Odds Change?
Sportsbooks typically open a line some days to the game. The market setter, the book that accepts high-limit wagers from sharps (winning players), sets the line. Other sportsbooks then copy this line.
As the game approaches, you’ll notice the odds changing. Why is that?
When the market first opens, the sportsbook typically has limited information about the game. But as the match draws nearer, more data pours into the market. They’ll receive news on injuries, expected weather, rumors, and other variables. The sportsbook will use this information to adjust their odds to better reflect the state of the game.
Odds will also change depending on where the betting action is occurring. For instance, if today the moneyline odds for the Oilers are +250 and many sports bettors are wagering on them, you might log in tomorrow to find the odds at +220. This move is meant to discourage more bettors from betting on this side of the line.
Overall, line movement is why many sharps bet as soon as the markets open. By betting early, they capitalize on any lack of information on the side of the sportsbook, allowing them to enjoy fantastic odds.
Line Shopping Moneyline Bets
Line shopping is another technique you can use to make more money in moneyline betting. This technique is quite simple; rather than bet with the first odds you get, you should compare the odds of different sportsbooks and wager using the one with the best odds. This ensures that you always get the biggest winnings possible.
Moneyline Bet FAQs
What is a moneyline bet?
A moneyline bet is a wager on what team or individual will be the outright winner of a game. You are betting on who will win.
Why was my moneyline bet canceled?
The sportsbook can cancel your moneyline bet for several reasons. For instance, bets are typically canceled if the game is postponed or canceled. It might also happen in case of accidental odds or suspicious activity with the match (common in amateur leagues).
Should I bet the moneyline?
Moneyline bets are easy to understand because they involve picking a winner of a game. That does not mean you should only bet moneylines. With anything in sports betting, you should research to get the best possible value with each bet. It does not make sense to make a bunch of bets on moneylines that are heavy favorites. For example, -400 means you have to bet $400 to win just $100. That will not be successful over time.
What does a +200 money line mean?
The plus (+) sign shows that these odds are for the underdog. +200 odds are equal to 2/1 odds. Thus, if you back them with $100, you stand to win $200 if they are victorious.
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