What is Moneyline in Sports Betting? A Beginner’s Guide to Moneyline Betting

12 min read
Aug 28, 2024, 9:08 AM
Author
Sol Fayerman-Hansen
Sol Fayerman-Hansen
Editor-in-Chief
Fact checked by:
Nick Ashbourne
Nick Ashbourne
Senior Writer
Last Updated: Sep 19, 2024, 3:20 PM

What is Moneyline in Sports Betting?

Moneyline betting is one of the simplest and most popular forms of sports betting, particularly for beginners. Unlike point spread betting, where the focus is on the margin of victory, moneyline betting is all about picking the outright winner of a game. When you place a moneyline wager, you're betting on one team to win the game outright, without any consideration for the final margin or how many points separate the teams. This straightforward approach makes moneyline wagers particularly appealing to those who prefer simplicity over the complexities of point spreads.

In moneyline betting, the odds associated with each team indicate their likelihood of winning. These odds are typically presented in the American odds format, where a minus sign (-) denotes the favorite, and a plus sign (+) indicates the underdog. For example, a money line bet with odds of -150 means that you need to wager $150 to win $100 on the favored team. Conversely, a money line bet with odds of +200 on the underdog means that a $100 wager could win you $200. Understanding these odds is crucial, as they help you calculate potential payouts and assess the risk involved.

One of the key reasons moneyline wagers are so popular is that they eliminate the need to worry about the final score or point spread. All that matters is whether your chosen team wins the game. This makes moneyline betting an ideal entry point for beginners, as it allows them to focus solely on picking the team to win without getting bogged down in the more complex aspects of sports betting. However, even experienced bettors appreciate the straightforward nature of moneyline bets, especially when they believe a particular team has a strong chance of winning outright.

Another important aspect of moneyline betting is the way moneyline odds change over time. These changes can be influenced by various factors, such as team injuries, weather conditions, or significant betting activity. For instance, if a star player on a favored team gets injured, the moneyline odds might shift to reflect the reduced likelihood of that team winning. Understanding how to calculate moneyline odds and monitor these changes can give you an edge in making a winning bet.

Understanding Moneyline Bets

What is a Moneyline Bet?

A moneyline bet is the most straightforward type of wager in sports betting. When you place a moneyline bet, you are simply betting on which team or player will win the game. The bet doesn’t involve any point spreads or handicaps; it’s purely about picking the winner.

For example, if you bet on the Kansas City Chiefs to win a game, and they do, you win your bet. The payout you receive depends on the moneyline odds at the time you placed your bet.

A moneyline bet is the simplest way to bet on sports—just pick the team you think will win the game outright.

How Moneyline Odds Work

Moneyline odds indicate how much you can win by betting on a particular team. In the American odds format, moneyline odds are expressed as either a positive number (e.g., +150) or a negative number (e.g., -200).

  • Positive Number (e.g., +150): This indicates the amount you can win on a $100 bet. For example, +150 means that a $100 bet would win you $150, making the total payout $250.
  • Negative Number (e.g., -200): This indicates the amount you need to wager to win $100. For example, -200 means you need to bet $200 to win $100, making the total payout $300.

These odds reflect the implied probability of a team winning the game. A minus sign indicates the favorite, while a plus sign indicates the underdog.

Reading Moneyline Odds

Reading moneyline odds is essential for making informed bets. The minus sign (-) shows that the team is favored to win, while the plus sign (+) indicates the underdog. The size of the number next to the sign shows how favored or unfavored a team is.

For example, if the Kansas City Chiefs are -200 favorites, they are heavily favored to win, and you would need to wager $200 to win $100. Conversely, if the Chiefs are +200 underdogs, a $100 bet would win you $200 if they pulled off the upset.

Moneyline Favorites and Underdogs

The Favorite and Underdog

In any moneyline bet, one team is usually considered the favorite, and the other is the underdog. The favorite is the team that is more likely to win, as indicated by a negative moneyline price (e.g., -150). The underdog is the team less likely to win, represented by a positive moneyline price (e.g., +150).

Example
In a Super Bowl matchup between the Kansas City Chiefs and another team, if the Chiefs are listed at -150, they are the favorites. If their opponent is listed at +130, they are the underdogs.

Moneyline Betting vs. Point Spread Betting

Key Differences

The key difference between moneyline betting and point spread betting lies in the nature of the bet. A moneyline bet is a wager on which team will win outright, regardless of the final margin. In contrast, a point spread bet involves betting on whether a team will win by a certain number of points or more.

For example, in a point spread bet, the Kansas City Chiefs might need to win by more than 7 points to cover the spread. In a moneyline bet, the Chiefs just need to win the game for the bet to be successful, regardless of the final margin.

Moneyline betting is simpler than point spread betting—just pick the winner without worrying about the margin of victory.

How to Make a Moneyline Bet

Step-by-Step Guide

  1. Choose a Sportsbook: Start by selecting a licensed and reputable online sportsbook that offers moneyline betting.
  2. Select a Game: Pick the game you want to bet on and find the moneyline odds for both teams.
  3. Decide on Your Wager: Determine how much money you want to wager based on the odds and your risk tolerance.
  4. Place Your Bet: Enter your bet amount and confirm the wager. The bet slip will show your potential payout based on the odds.
  5. Watch the Game: After placing your bet, watch the game to see if your chosen team wins outright.

Calculating Moneyline Odds

How Odds are Calculated

Moneyline odds are calculated based on the implied probability of a team winning the game. The sportsbook uses various factors, including team performance, injuries, and betting activity, to set the odds. Bettors can use these odds to calculate potential payouts and make informed decisions.

Formula for Positive Odds:

  • Payout = (Bet Amount * (Odds/100)) + Bet Amount
    Example: For +150 odds, a $100 bet would yield a $250 payout.

Formula for Negative Odds:

  • Payout = (Bet Amount / (Odds/100)) + Bet Amount
    Example: For -200 odds, a $100 bet would yield a $150 payout.

Why Bet on the Moneyline?

Advantages of Moneyline Betting

  • Simplicity: Moneyline betting is straightforward—just pick the team you think will win.
  • Flexibility: Moneyline bets can be placed on any sport, including football, basketball, baseball, and more.
  • Higher Payouts: Betting on underdogs can lead to higher payouts, making it an attractive option for bettors willing to take on more risk.

Moneyline betting offers simplicity and the potential for higher payouts, especially when betting on underdogs.

Juice in Moneyline Betting

What is Juice?

Juice, also known as vigorish or vig, is the fee that sportsbooks charge for taking a bet. It is built into the moneyline odds and represents the bookmaker's profit. For example, in a game where both teams are evenly matched, the odds might be set at -110 for both sides. The extra 10 points on each side is the juice.

Example: If the odds are -110, you would need to wager $110 to win $100. The $10 difference is the sportsbook's juice.

Popular Sports for Moneyline Betting

Sports that Use Moneyline Betting

Moneyline betting is popular across a wide range of sports, including:

  • Football (NFL and College): Moneyline bets are common in football, where bettors can choose the outright winner of a game, regardless of the point spread.
  • Basketball (NBA and College): Basketball offers numerous opportunities for moneyline betting, especially in close matchups.
  • Baseball: Baseball moneylines are a staple of sports betting, with many bettors preferring this method over point spread bets due to the low-scoring nature of the game.
  • Hockey: Like baseball, hockey relies heavily on moneyline betting, given the tight margins and frequent low-scoring games.

Moneyline Parlays

What is a Moneyline Parlay?

A moneyline parlay is a type of bet where multiple moneyline bets are combined into one wager. To win the parlay, all selected teams must win their games. While the risk is higher, the potential payout is also greater, as the odds of each individual bet are multiplied together.

Example
A three-team parlay might involve betting on the Kansas City Chiefs, New York Giants, and Buffalo Bills all to win their games outright. If all three teams win, the parlay pays out at much higher odds than if you had bet on each game individually.

How Sportsbooks Make Money on Moneyline Bets

How Sportsbooks Profit

Sportsbooks profit from moneyline bets by adjusting the odds to ensure a profit regardless of the outcome. This is done through the juice, which is factored into the odds. Additionally, sportsbooks may adjust the odds based on betting activity, moving the line to balance their risk.

Sportsbooks profit from moneyline bets through the juice, ensuring they make money regardless of the game's outcome.

Factors that Affect Moneyline Odds

Line Movement

Moneyline odds can change due to several factors, including betting activity, injuries, and other game-related news. This is known as line movement. For example, if a star player is injured before a game, the odds might shift significantly to reflect the new probability of each team winning.

Example
If the Kansas City Chiefs were originally favored at -150 but their quarterback gets injured, the odds might move to -110 or even shift to make them underdogs.

Moneyline Betting Tips

Tips for Success

  • Research Before Betting: Always research the teams, their recent performances, and any relevant news before placing a moneyline bet.
  • Monitor Line Movements: Keep an eye on line movements to get the best value on your bet. Betting early can sometimes give you an edge if you anticipate the odds will change.
  • Consider the Juice: Be aware of the juice when placing bets, especially when betting on heavily favored teams. The juice can significantly reduce your potential profit, so it’s important to factor this into your decision-making process.
  • Shop Around for the Best Odds: Different sportsbooks might offer slightly different moneyline odds for the same game. Shopping around for the best odds can help you maximize your potential payout.
  • Manage Your Bankroll: As with all forms of sports betting, it’s crucial to manage your bankroll effectively. Bet only what you can afford to lose and avoid chasing losses by making larger bets than usual.
  • Start Small: If you’re new to moneyline betting, start with smaller bets to get a feel for how the odds work and to develop your betting strategy over time.

Conclusion

Moneyline betting is a fundamental aspect of sports betting that offers simplicity and excitement for both beginners and experienced bettors. By understanding how to read moneyline odds, calculate potential payouts, and navigate the various factors that influence these odds, you can make more informed bets and increase your chances of success. Whether you’re betting on football, basketball, baseball, or any other sport, mastering moneyline betting is an essential skill that can enhance your sports betting experience.

<p>With 20+ years of writing experience across sports, gambling, regulation, technology, and startups, Sol brings a broad understanding to his role as Editor-in-Chief at RG. His work provides clear, factual information to help readers make informed decisions about gambling. Sol’s approach is about transparency and research, so the content at RG is straightforward, evidence-based, and accessible.</p><p>At RG, Sol keeps the focus on the reader by maintaining a standard of reliability and integrity in the information shared. Under his editorial direction, RG aims to provide practical insights into sports and sports entertainment that support a balanced and informed approach. Sol’s approach has helped RG become a go-to source for readers looking to engage responsibly and thoughtfully in the industry.</p>
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