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What Is a Moneyline Bet When Betting on Sports?

Last Updated:
01/04/2024
Topic:
Betting Guide
Experiences:
Slots and casino table games expert

We at Betastic.com have gone the whole nine yards to acquire the most in-depth online gambling knowledge. The best part is we know how to put across even the most complicated jargon simply. In this article, we’ll deal with, once and for all, the question— what is a moneyline bet?

We start by providing a simple description of this type of bet. Our team firmly believes that any sports betting how to should cover the basics first! Later, we’ll get into the nitty-gritty aspects of moneyline bets and give you some examples of how the bet works.

Basic moneyline bet explanation

If you’re familiar with sports betting, then you’re no stranger to moneyline betting. In case the term doesn’t ring a bell, this is the simplest type of wager, whereby a bettor chooses the winning outcome between two provided choices. This can apply to soccer matches, basketball games, and any other sport. Another example involves predicting the winning player in individual sports. You can also bet on a draw in sports where that option is available. Some sportsbooks may offer a “draw no bet” option, where customers can only pick a winner, as betting on a draw is not possible.

What makes moneyline bets worth their weight in gold is their simplicity, due to the absence of a point spread. So, all you have to do to strike it lucky is predict the winning option. If you’re sold on this type of betting, it’s not enough to only understand what is a moneyline bet—you also have to understand its inner workings. In this light, we’ve taken some time to explain the three components of a moneyline wager.

The favorite

Teams that have a historical record of outperforming their competitors typically command a huge fanbase. That’s partly why they are referred to as “favorites”. But as you’ve probably guessed, this also applies to the team considered as most likely to win. When you bet on the favorite, you typically win less money than what you’ve wagered. For example, if you place a $100 wager, you may get a $150 payout.

The underdog

The underdog is an underrated team that is considered less likely to win. While there are several ways of determining if a team falls under this category, it is common for the underdog to have slightly higher-paying odds. Using our $100 bet example, instead of winning $150 on the favorite, you may win $250 or more on a correct underdog win prediction.

Evens

Also known as pick ‘em, this type of bet applies to teams that are viewed as having equal chances of striking a win or a loss. As such, the sportsbook opts for equal pricing. So, you receive the same amount of money on the bet. Let’s say the standard betting unit is $100, you’d walk away with $200 if you correctly predict that either side will win.

Moneyline bet outcomes

As we mentioned before, there are three types of outcomes for any moneyline wager. While we’ve briefly touched on these, it’s important to explore further what is a moneyline bet, taking into account available betting outcomes.

Win

A winning bet is offered when you correctly choose the winning team or player. In cases where a draw is on offer, the winning bet can also apply when you correctly predict the draw outcome. While this is not always an option, you’ll find it in grand sporting events. Soccer and boxing matches typically have this option.

Draw/No Bet

When the two teams of different strengths compete in a sporting event, a draw betting option is often availed. The opposite applies to No Bets. The draw option is typically not presented on the bet when both teams have equal chances of winning. In this case, your full wager will be returned.

Loss

A loss occurs when bettors fail to correctly predict the winning outcome. It can also happen when there is a draw, but the option has not been selected. While gambling is a risk-ridden endeavor and chances of losing are ever-present, sports moneyline bets remove a lot of the complexity. Bettors, therefore, have better winning odds.

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Understanding how moneyline betting odds work

For anyone looking to start lucrative gambling exploits, a good understanding of what is a moneyline bet serves as a strong foundation. Once you’re familiar with this concept, the million-dollar question becomes – how do moneyline wagers work? Only when you’ve fully understood the betting odds and calculations involved can you start making solid bets.

First and foremost, try to grasp how betting lines are presented. Favorites are usually marked with negative odds, which indicates that you’re going to risk more than what you can potentially win. The underdog is identified by positive odds, meaning that you will risk less than the prize amount. Using a practical example, when a team is listed at -150, every $1 you stand to win will require you to place a $1.50 wager. For underdogs, the opposite is usually true. For odds presented as +150, you have to wager $1 to win $1.50.

How to place a moneyline bet

The question we often encounter is, how to bet moneyline. The answer is quite simple. Placing a bet is child’s play, and takes just a few clicks. The process is even easier for punters familiar with spreadbetting as the process is similar. All you have to do is find your desired sport and tap the moneyline icon displayed next to your team or player of choice. Make your way to the bet slip on the right side of the screen. Choose which side you think will win. If a draw option is available, you can also go with that.

Moneyline bets in different sports

Moneyline bets are mostly used in baseball and basketball matches where the emphasis is on the winning team and not so much on victory margins. While soccer matches can also be enlisted under moneyline bets, the sport tends to differ. So, what does moneyline mean in football? Let’s explore the answer.

Betting in soccer

In the majority of bets, emphasis is on the winning team. But, what happens when there’s a good chance of a draw? This is where three-way bets come in. You’ll be presented with an opportunity to bet on the draw, in addition to the standard bet. The same regulations apply to sports like hockey. This form of bet is ideal for seasoned bettors, as it requires in-depth knowledge about the sport, teams, and players to determine the drawing odds.

Betting in basketball

With moneyline bet NFL taking the world by storm, it’s easy to forget about sports like basketball where this bet type is better-placed. Here, you don’t have to sweat out the time-outs and wonder how many more scores are needed for your wager to pan out. You only need to predict which side is likely to win the match. This is usually one of the very first bet types that we recommend new bettors to start with.

Handicapping moneyline bets

Once you’ve fully grasped the concept of betting, attempting to develop sound betting strategies is a step in the right direction. In this section, we’ll cover the best moneyline sports betting strategy—handicapping. Rather than placing bets based on your instinct, handicapping takes into account previous data and statistics.

In layman’s terms, the process involves assigning an advantage to the team based on statistical information and historical records. While going with your gut feeling may be a simpler approach, handicapping presents a higher chance of padding your bankroll. Let’s have a look at information sources that are crucial in handicapping.

Opening odds: a team of experts is used to determine the favorite after extensive research. Thus, opening odds provide a clue of who’s likely to win.

Recent play: teams tend to experience a series of up and down in a season. This includes injuries and anything that may affect team spirit.

Home advantage: teams tend to perform better on home grounds. However, some are all-around winners and yet others thrive on foreign grounds.

Moneyline parlays

Fast becoming popular in the sports betting world is parlay betting. In simple terms, a parlay is a single wager that is made up of several events. For example, a single ticket can predict that a soccer match between England and Spain will result in a draw, while Germany will win against Brazil. In this case, if one outcome comes out correct while the other doesn’t, the entire ticket loses. On the other hand, if both outcomes are correct, you stand to win a much bigger payout. But as with other moneyline wagers, there are no point spreads involved, which makes for simpler betting.

Conclusion

If you’re on the hunt for a straightforward yet potentially lucrative bet, the moneyline should be your go-to option. What is a moneyline bet? These bets are not heavily reliant on statistics, but gamblers are only required to pick a winning team between two options. Sometimes, you may also be able to bet on a draw. For most events, you can put your money on the favorites or the underdogs. Here, you win more than what you’ve wagered if the underdogs come out on top. The opposite is true for the favorites. But when the teams are equally strong, the winning odds are usually even. While basketball and baseball matches are ideal for first-time bettors, you’ll find better moneyline betting opportunities in sports like soccer.

Moneyline FAQs

🔣 What is a moneyline bet?

This is the simplest form of bet available in the market today. But while the basics are pretty straightforward, the bets are attached to a string of two-way and three-way bets. These are determined by the type of sports and their odds of winning. There are other variants which could include a teaser bet, parlays or handicaps. To ensure comprehensive coverage of the subject, we’ve documented everything there is to know about sports betting in our guides.

How does moneyline work?

To understand how this type of bet works, you have to grasp how the odds are put together and displayed. You also have to possess a solid understanding of the calculations involved. In our guides at Betastic.com, we cover different odds that represent the favorite, underdog, and the draw. We’ve also taken the time to present some payout calculations.

Is moneyline a good bet?

What captures rave reviews about this type of bet is its simplistic nature. Upcoming bettors find it convenient to explore their options while acquiring the skill necessary for more complicated bets, like point spreads. But is this a good bet to keep placing throughout your experience as a bettor? To consistently make good bets, you can read through our guides and find strategies that work best for you.

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