How to Bet Moneylines in Sporting Events
Understanding the moneyline is essential for betting on sports like boxing and hockey. Sportsbooks typically use the moneyline for events involving low scores that cause the point spread bet to be ineffective. Moneyline betting is not challenging to understand. Bettors will find that moneyline wagers are simple and enjoyable.
Understanding the Moneyline
The moneyline is a convenient betting method for bettors to wager on a team to win a match. They are also referred to as fixed odds betting and straight bets. Moneyline bets simply involve winners and losers and do not require winning or losing by specific margins as in point spread betting.
For moneyline bets, two competitors are assigned a plus sign and a number or a minus sign and a number. A plus sign and a number shows the amount that could be won by wagering $100 on that competitor. A minus sign and a number shows the amount that must be wagered on that competitor to win $100. The team or individual with the minus sign and number is favored to win. An example of the moneyline is below:
New York -140
The above moneyline bet involves New York and Detroit with New York as the favored team. Bettors wagering on this match can place bets on either Detroit or New York, and each bet has different payouts. Wagering $100 on Detroit can potentially produce a payout of $110. Potentially winning $100 by wagering on New York requires a bet of $140.
Although the moneyline shows wagers and payouts in units of $100, the same moneyline odds can be used to calculate payouts for all wager amounts. In the example of the match involving Detroit and New York, the same figures tell us that wagering $25 on Detroit could potentially win $27.50. Winning $25 by betting on New York would require a wager of $35. Wagering $5 on Detroit could potentially win $5.50. Winning $5 by betting on New York would require a wager of $7. The moneyline odds can be used to calculate all potential payouts.
The moneyline is used to display odds for a wide variety of sports. Moneyline betting is typically used for sports in which the point spread cannot be applied due to low scoring. Some sports that the moneyline is commonly used for include:
- Auto Racing
Although the moneyline is usually used for low scoring events like soccer and hockey games, sportsbooks create moneyline betting options for almost every sport. Bookmakers that use the point spread for betting on sports like football usually also offer moneyline betting on the same events. The moneyline is an additional betting option that is simple, convenient and has become particularly popular among American bettors. Sports betting beginners are often attracted to the moneyline because it can be easily understood and involves simple wagers on teams to win or lose.
The moneyline odds are usually adjusted as an event or competition becomes closer. As a favored team becomes more likely to win, the moneyline odds between the favored team and underdog increase in disparity. For example, when a game is scheduled in a month between New York and Baltimore, the moneyline odds might look like this:
New York -130
In the above example New York is favored to win the game. Wagering $100 on Baltimore could potentially produce a payout of $120. Wagering $130 on New York has a potential payout of $100. As the game becomes closer, the moneyline odds can change as bookmakers adjust odds. A week before the game between Baltimore and New York when the likelihood that New York wins has increased, the moneyline odds might be adjusted to look like this:
New York -140
Despite the fact that sportsbooks may adjust odds prior to games and events, the odds of moneyline bets cannot be changed once they are placed. Bettors can rest assured that when a moneyline bet is placed with an online sportsbook, the odds for that moneyline bet will stay the same. When an online bookmaker changes odds the adjustment only applies to bets that have not yet been placed.