How to Bet on The Moneyline

What is the Moneyline Betting and How Do You Interpret It?

What is the moneyline, and how do you bet on it?

When you first play at a casino online or bet on sports, the numbers can get confusing, and you end up not taking action. So, how does it work? Read on, and we will explain what moneyline bets are.

What is a moneyline bet? 

A moneyline bet is a straightforward bet where you pick who wins the game. For example, if there is a match between Lakers and Golden State, you choose a side and bet on that. 

However, the moneyline becomes complicated because of the numbers associated with each team. Not all bets are even-money. What it means is that just because you wagered $100, it does not mean you will win $100.

How do you interpret moneyline odds? 

Here is an example of odds for moneyline bets:

  • Lakers: +135

  • GS: -135

In this case, you can see that the odds for Lakers have a positive sign, while the odds for GS have a negative sign. In a positive sign, it means that the team is the underdog. A negative sign next to a team means it is the favourite, and that it is likely to win. 

If you wager on Lakers, you must bet $100 to win $135 if they win. If you wager on GS, you must bet $135 to win $100. 

Here is a table to understand it better:

  Moneyline You Bet You Win
Lakers +135 $100 $135
GS -135 $135 $100

 

When we say win, we are referring to the payout. So, if you wagered $100 on Lakers and they won, you would get a total of $235. Out of that, $100 is your bet, and $135 is your profit.

The moneyline table above is what you call American Odds. Not all sportsbooks offer this. It is possible for a bookmaker to offer another type of odd.

What are the different types of odds?

The three types of odds are:

  • British Odds

  • European Odds

  • American Odds

We will no longer discuss the American odds or moneyline, as this has been discussed previously. 

British Odds

The British Odds are also referred to as fractional odds or traditional odds. They look like this: 

Lakers: 6/1

GS: 9/2

What does this mean? It means that your odds for Lakers are si -to-one. You win $6 for every $1 wagered on Lakers. The fraction indicates money you get on top of the money you wagered. It is your profit. 

So, if you wager $1 on Lakers, you get $6 and then $1 back for your original bet. Overall, you get paid $7 with a profit of $6.

European Odds

Some bettors call this the decimal odds as it uses points. Below is an example: 

Lakers: 4.0

GS: 1.3

In this type of bet, the numbers represent how much money you get back for every $1 you put in. So, if you wagered $100 on Lakers, you would get 4x that amount. The math is 4.0 x $100 = $400. The amount you get, which is $400, already includes your stake of $100. Your profit is $300. 

Conversely, if you wager $100 on GS, you get 1.3 x $100 = $130. Your profit is only $30. In this bet, it is obvious that the GS team is a favourite. As such, the winnings are smaller. 

Why is there no moneyline for my bets? 

It is possible that the sportsbook provider does not offer a moneyline. In some games, sportsbooks do not like to offer the moneyline. Instead, they offer what is called a spread. A spread happens if the two opposing teams are severely mismatched. 

Tips for betting on moneyline

To help you improve your chances of bidding successfully, below are some tips on how you should bet on moneyline odds. 

Shop for odds

Don’t just place wagers on any sportsbook! Not all sports betting sites offer the same moneyline. For example, one can offer +135 to the Lakers as the underdog, while another bookmaker would offer +140.

Obviously, the latter is better. You get more value for your money. If you wager $100, you’ll get $140, as opposed to the other choice where you only win $135. 

Avoid Huge Favourites

Sometimes, you will see odds like -3500. What it means is you wager $3,500 to win $100. A moneyline odd like this can happen if the sportsbook company thinks there is a serious mismatch between teams. 

Now, you can say that it is almost a guarantee, right? You bet $3,500, and you only win $100 because the sports booker thinks there is no way the favourite would lose. 

What if the favourite loses? You risk $3,500 to win $100? It is not a wise choice. Sometimes, you are better off betting on the underdog than the favourite. 

Remember, wagering is about getting your money back and then earning profits from those who lost. Certainly, you do not want to be at the other end of this transaction. It is better to wager a small amount of money and win big, even if the chances of winning are small.

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