What is a Moneyline Bet?

“What is a moneyline bet?”, you may ask. Well, if you break down sports betting to its fundamental components you get moneyline betting. It’s simply betting on which team will win in a given game, no extra bells and whistles, no player props, and you don’t even have to worry about the score.

But, you’ll need to know a bit more than that to be a successful moneyline bettor. This guide is all about preparing you to make moneyline bets with confidence while making financially sound decisions at the same time.

How Do Moneylines Work?

Moneyline betting is a fundamental concept in sports betting that offers a straightforward way to wager on the outcome of a game or event. Unlike point spreads or totals, where you consider the margin of victory or the total points scored, moneyline betting focuses solely on predicting which team or participant will win.

Moneyline betting is ideal for those who prefer a straightforward approach to sports betting. You’re essentially making a choice between two options: Team A or Team B, with no consideration for point differentials or total points scored. It’s a common choice for beginners and for betting on sports like baseball, hockey, and soccer, where scoring is relatively low compared to other sports.

How to Read Moneyline Odds

Moneyline odds are expressed using plus (+) and minus (-) signs, with each sign representing a different aspect of the bet. When you see a plus sign, it indicates the underdog in the matchup. The number next to the plus sign demonstrates the potential profit for every $100 wagered. For example, if a team has a moneyline of +150, a $100 bet on that team would yield a profit of $150 if they win.

On the other hand, the minus sign is used to identify the favorite. The number accompanying the minus sign signifies how much you need to bet to earn $100 in profit. For instance, if a team has a moneyline of -200, you would need to wager $200 to gain a profit of $100 if that team wins.

To illustrate, let’s consider betting the moneyline on an NBA game between the Denver Nuggets and the Philadelphia 76ers. If the Nuggets have a moneyline of +150 and the 76ers have a moneyline of -200, here’s what it means:

Denver Nuggets (+150): A $100 bet on the Nuggets would yield a profit of $150 if they win. If you bet more or less than $100, you can calculate your potential profit proportionally. For example, a $50 bet would result in a profit of $75 if the Nuggets win.

Philadelphia 76ers (-200): To earn a profit of $100 on the 76ers, you would need to bet $200. If you bet $50 on the 76ers and they win, your profit would be $25.

Moneyline vs Spread Betting

Unlike moneyline, spread betting introduces point differentials into the equation. The sportsbook sets a point spread or handicap, representing the expected margin of victory for the favorite over the underdog.

With spread betting, you can bet on either side of the spread. Favorites must win by a margin greater than the spread, while underdogs can win the bet by either winning the game or losing by less than the spread. This approach aims to balance the betting action, especially when there’s a clear favorite and underdog. Spread betting is commonly used in football, basketball, and other team sports.

Your choice between moneyline and spread betting depends on your betting strategy and confidence in the game’s outcome. Moneyline betting simplifies things by focusing solely on the winner, while spread betting offers more nuanced options to consider.

What Happens on a Moneyline Tie?

The outcome of a moneyline bet when a tie occurs depends on the type of moneyline used:

Three-Way Moneyline (Win-Loss-Tie): In sports like soccer, where a three-way moneyline includes options for a win, loss, or tie (draw), a tie is treated as a valid outcome. If you bet on either team to win and the match ends in a tie, you lose your bet. It’s essential to consider this when betting on sports with three-way moneylines, such as Premier League soccer. We’ll explore this more in a bit.

Two-Way Moneyline: In sports like the NFL, which typically use two-way moneylines (win or lose), a tie game results in a push. This means that your bet is refunded, and you neither win nor lose. It’s essentially treated as a voided bet, and you get your initial stake back.

Run Line vs Moneyline

The run line is basically just baseball’s version of the point spread, meaning it’s used as a handicap to put two teams with a talent disparity on an even betting playing field. This differs from moneyline betting where the only thing that matters is who wins or loses not by how much.

Run line betting introduces a handicap or point spread to level the odds when there’s a significant difference in team talent. For instance, a run line bet might require the favorite to win by at least two runs, while the underdog can win the bet by winning the game or losing by just one run. This added layer of complexity appeals to bettors seeking more nuanced betting opportunities in baseball.

Puck Line vs Moneyline

Just like the run line in baseball, the puck line in the NHL is just the hockey equivalent of a point spread. Puck line betting incorporates a point spread, often set at 1.5 goals. The favorite must win by at least two goals, while the underdog can win by claiming victory or losing by a single goal.

Betting on the puck line requires a bit more strategy and thought because the odds are usually set very accurately on a 50/50 split.

What is a 3-Way Moneyline?

A 3-way moneyline, often employed in soccer and similar sports prone to draws, adds an extra dimension to traditional moneyline betting. In this wagering approach, you’re not merely predicting the winner of the match, but you’re also considering the possibility of a tie. This introduces three possible outcomes: Team A winning, Team B winning, or the match ending in a draw. Each of these three potential results is associated with different odds.

For example, in Major League Soccer (MLS), you might find odds like +150 for LA Galaxy to win, +200 for Sporting KC to win, and +220 for a draw. This means that if you bet on the Galaxy and they win, you’d make a profit of $150 for every $100 wagered. Betting on Kansas City offers a potential profit of $200 for every $100 bet, and if you bet on a draw and the match ends that way, you’d make $220 for every $100 wagered.

How Do Sportsbooks Set the Moneyline?

When it comes to how sportsbooks set these moneyline odds, it’s a meticulous process. Bookmakers engage in thorough statistical analysis, considering various factors such as historical performance, advanced analytics, weather conditions, team injuries, recent trends, and more.

They aim to create odds that attract balanced betting action while ensuring they can profit regardless of the outcome. The careful calibration of odds is critical because any imbalance in bets could expose the sportsbook to potential losses.

Moneyline Examples in Sports Betting

Now that you have an idea of how moneyline works and some key definitions, it’s time to find the right sport to bet on. Below we’ve written a quick example of how moneyline betting works for some popular sports, so you can choose one that appeals to you.

NFL

In the NFL, let’s take the Kansas City Chiefs playing against the New England Patriots as an example. The Chiefs might have a moneyline of -200, indicating they are the favorites. This means you’d need to bet $200 to win $100 on the Chiefs. On the other side, the Patriots could have a moneyline of +180, indicating they are the underdogs. A $100 bet on the Patriots would yield a profit of $180 if they win.

NBA

Heading over to the NBA, consider the Milwaukee Bucks facing off against the Los Angeles Lakers. The Bucks might have a moneyline of -160, making them the favorites. Betting $160 on the Bucks would return $100 in profit if they win. The Lakers, as underdogs, might have a moneyline of +140, meaning a $100 bet on the Lakers would result in a $140 profit if they win.

MLB

For MLB, imagine the Miami Marlins playing against the New York Mets. The Marlins could have a moneyline of +120, signifying them as the underdogs. A $100 bet on the Marlins would yield you $120 if they win. Conversely, the Mets, as favorites, might have a moneyline of -140. You’d need to bet $140 on the Mets to earn a $100 profit if they win.

NHL

In the NHL, let’s focus on the Chicago Blackhawks taking on the Colorado Avalanche. The Blackhawks might have a moneyline of +210, indicating they are the underdogs. Betting $100 on the Blackhawks would result in a $210 profit if they win – you get your $100 back along with your winnings. On the other hand, the Avalanche, as favorites, could have a moneyline of -180. You’d need to bet $180 on the Avalanche to earn a $100 profit if they win.

Soccer

For soccer, let’s use a match between Inter Miami and New York City FC that offers a three-way moneyline bet. Inter Miami might have a moneyline of +220, indicating they are the underdogs. Betting $100 on Inter Miami would yield $220 if they win.

New York City FC, as the favorites, could have a moneyline of -150. You’d need to bet $150 on NYC FC to earn a $100 profit if they win. If the match ends in a tie, which is common in soccer, the tie option could have a moneyline of +280. A $100 bet on a tie would result in $280 if the match ends level.

Combat Sports

If we’re talking combat sports, let’s use a classic match between Conor McGregor and Dustin Poirier. In this scenario, McGregor might have a moneyline of -160, indicating he’s the favorite. Betting $160 on McGregor would yield a $100 profit if he wins. Poirier, as the underdog, could have a moneyline of +170. A $100 bet on Poirier would result in $170 if he pulls off the upset.

Tennis

In tennis, particularly in outright winner betting, let’s consider a Grand Slam tournament where Serena Williams comes out of retirement to participate. Serena Williams might have a moneyline of +250 to win the tournament, meaning a $100 bet on her would yield $250 if she emerges as the champion. This outright winner bet applies to the entire tournament, not just a single match.

Moneyline Betting Tips

We’re almost there y’all! Before you get started on your moneyline betting journey, we couldn’t let you leave without a couple of our most important tips. These are general things that successful moneyline bettors do to turn a consistent profit and maintain control of their finances.

Do Your Research

Don’t make moneyline bets blindly. Successful moneyline betting involves thorough research and data analysis. It’s about identifying key data points that can tip the odds in your favor.

Whether it’s recognizing an underdog with a favorable playstyle to upset a formidable opponent or spotting a team who, despite what the sportsbooks suggest, possesses strong statistical advantages, your profitability hinges on data-driven decisions.

Set A Bankroll

Effective bankroll management is fundamental to your success as a sports bettor. It’s not about chasing massive wins; instead, it’s about cultivating stable and consistent growth.

By establishing a solid bankroll and following sound money management principles, you shield yourself from significant losses and establish yourself as a financially prudent bettor. Setting a bankroll is as straightforward as defining a budget for your betting activities and determining a fixed amount to wager on each bet.