What’s a moneyline bet? Moneyline bets are the simplest to understand among the easiest to bet on. If you want to bet online, it is definitely a bet you want to include, either alone or in a parlay with other bets.
So, to get more information on this, we look into the moneyline bet and further explain it.
If you want to know more what does moneyline mean, read on in this article. Be cautious of the moneyline bets and how much they return, as negative numbers promise high odds while low return. If you bet on underdog moneyline bets more, even if their value is high, the possibility that they may win is low.
What is a moneyline?
In learning how sports betting odds work, there are sportsbetting odds where you bet on a side to win outright. This differs dramatically from spread betting, which uses a handicap to level odds.
Payouts on the wagers for moneyline meaning bets vary depending on the perceived strength for betting. Implied probabilities also show the market values of the teams in the money line bet.
Example of Odds Meaning Betting in Moneyline
To know how does money line work, let’s look at an example below for a match between Germany and the Netherlands. We’ll designate Germany as the home team and favoured side, while the Netherlands is the away team and underdog in the moneyline odds:
Here’s a simple explanation in understanding bet odds. If you bet on Germany and Germany wins, you have to wager $120 to win $100 (total winnings = $320). Meanwhile, if you put your money on Netherlands and the Netherlands wins, you win $220 when you wager $100 (also totaling to $320).
We’ll explain later further what does betting the money line mean, later on in this article.
The Concept of Vig in Moneyline:
In learning to make a moneyline bet you should also know the concept of a vig. A Vigorish, or simply known as vig or juice what the bookmakers earns for acceptance of your bet. This is considered a profit on their part.
To compute the moneyline bet, you must do math on the money lines offered. What you have to do is get the implied probability from a line dividing them among the implied ones in the market.
How to Read a Sports betting line
Moneyline odds are presented in American odds format, showing odds with positive/negative numbers meeting at 100. The positive money line is
Matches which are close competitions have little difference between them in values.
Sports that Use Moneyline
Many of the renowned sports around the world use moneyline style of betting. These include soccer, basketball, American football, and baseball among others.
How Moneyline Bet is Determined
Moneyline for Favourites
Favourites in a game have shorter and more expensive odds, and will have a negative number. What does negative odds mean? Here, a bettor would have to bet $200 to win $50. As the odds get bigger, your profit is shown in a lower number.
Implied Win %
These pay out a bigger value of money from betting than a wager because of the lower win probability. When using American style odds, they are shown with a positive number. Here are the examples of odds, the probability of winning, and the profit you could get from such money line odds:
Implied Win %
What is Pick’em?
Pick’Em is a money line betting type wherein both sides are evenly matched. Here, the odds are set at +100 on each side. However, the sportsbooks also place a cost on such bets, putting them to -105 or +110, or a vig/juice.
These type of moneylines factor in the existence of a draw. In sports like soccer and American football, these money line 3 way bets are common. For example, let’s look at this bet for a World Cup Game:
Lifespan of a moneyline bet:
Money line meaning starts when a sportsbook opens a line. A lifespan of a moneyline bet appears like this:
- Market-setting sportsbooks open a market.
- Competitors copy and post market.
- Betting limits for moneyline start very low.
- As the game gets closer, more information is brought in, placing the game in its true odds.
- When the bookies are confident with their numbers, the limits are expanded. They follow the lead of the setters, with variation on house risk.
- Betting line closes when the math begins.
Basically, the key here in how betting odds work is including the information in the market about those bets. As the event draws clearer, updates on the injuries, stats and others are factored into the money line bet.
Difference Between Moneyline Bets and Spreads
Point spread games are just as common as moneyline bets for wagering. However, unlike moneyline, a point spread covers a certain point range by which a team should win. If the team does not within that range of points, you could lose. It is also known as a handicap bet because a point advantage is added to the underdog or subtracted from the favourite to level the playing field.
You could put together many moneylines odds bets in a parlay, allowing a big payout. However, for a parlay to win, all the picks made need to be correct. The more moneyline picks selected means bigger the risk. Yes, you could win a big amount, but only if all bets win. If even just one loses, you automatically lose.
Bet on Moneyline to Win Big!
A bet on a moneyline may be simple, but it can guarantee you big bucks if you play it right. With awareness of how the bets are calculated, plus a responsible sense of betting, you can be successful. Join now and play on our casinos to win more in sports!