If you're new to moneyline betting, this guide will explain everything you need to know about how it works, when to use it, and how to win. Whether you want a simple understanding of betting or to dive into the details, keep reading for a full explanation of moneyline bets.
What Is a Moneyline Bet?
A moneyline bet is one of the simplest forms of sports betting: you are simply betting on which team or player will win. Unlike point spreads, there are no handicap points or adjustments. The goal is to predict the outright winner. Moneyline betting can apply to the full game, or specific periods, such as quarters, halves, or the first few innings of a baseball game.
2-Way Moneyline Betting
In a 2-way moneyline bet, you can pick either team to win outright, without worrying about the game ending in a tie. This is also referred to as "Draw, No Bet." Typically, one team is favored over the other, and odds are set based on the perceived likelihood of each team winning.
Favorites vs. Underdogs
- Favorite: A team expected to win, which requires a larger risk to win a smaller amount.
- Underdog: A team expected to lose, but offers a higher reward for a smaller risk.
This balance is how sportsbooks ensure they maintain a level of betting action on both sides.
3-Way Moneyline Betting
In a 3-way moneyline, you also have the option to bet on a draw (tie). This is common in sports like soccer and hockey. The three outcomes are:
- Team A wins
- Team B wins
- The game ends in a draw
With 3-way moneyline bets, there is no push (refund) because the draw is a betting option.
How Do Moneyline Bets Work?
When you bet on the favorite, you’ll typically see a negative number (-) in front of the odds, while the underdog will have a positive number (+).
- Negative odds: This indicates how much you need to bet to win $100. For example, if the odds are -180, you must bet $180 to win $100.
- Positive odds: This indicates how much you will win on a $100 bet. For example, if the odds are +250, you win $250 for every $100 wagered.
Example:
- Chicago: -220 (Favorite)
- Seattle: +190 (Underdog)
In this scenario, a $220 bet on Chicago (the favorite) would win $100 if Chicago wins. A $100 bet on Seattle (the underdog) would win $190 if Seattle wins.
What Happens in the Event of a Tie?
In 2-way moneyline bets, if the game ends in a tie, the bet is refunded (this is called a "push"). In 3-way moneyline betting, if you haven’t bet on the draw and the game ends in a tie, you lose your bet.
How to Place a Moneyline Bet
- Review the Odds: Understand the odds for each team or player.
- Pick Your Side: Choose either the favorite or underdog, or if it’s a 3-way moneyline, you can also bet on the draw.
- Place Your Bet: Wager the amount you’re comfortable with based on the odds and your confidence in the outcome.
Pros and Cons of Moneyline Betting
Pros:
- Simplicity: No need to worry about points or spreads—just pick the winner.
- Big Rewards for Underdogs: Betting on an underdog can result in significant payouts.
Cons:
- Higher Risk for Favorites: Betting on the favorite often requires a large risk for a small reward.
- Exact Results Only: No room for error. If your team doesn’t win outright, you lose.
Moneyline Betting Tips
- Shop for the Best Odds: Compare moneyline odds at different sportsbooks to find the best value.
- Focus on Underdogs: Betting on underdogs can be more profitable than spread betting if you’re confident they will win outright.
- Use in Parlays: Add moneyline bets to parlays for higher payouts.
Example of a Moneyline Bet in Action
Imagine a baseball game where the Pittsburgh Pirates are underdogs with +115 odds, while the New York Yankees are favorites with -140 odds. If you bet $100 on the Pirates and they win, you'd profit $115. But if you bet $140 on the Yankees and they win, you'd only profit $100.
When to Choose Moneyline Over Point Spread?
Moneyline bets are ideal for games where you believe the underdog has a good chance of winning outright, or where you’re not confident in predicting a point spread. In games with a clear favorite, a point spread might offer better value, but if you’re focused purely on picking the winner, the moneyline is the way to go.
Frequently Asked Questions About Moneyline Betting
What does -150 odds mean?
It means you need to risk $150 to win $100.What does +250 odds mean?
It means a $100 bet would return a $250 profit if the underdog wins.Can a moneyline bet push?
Yes, a 2-way moneyline bet can push if the game ends in a tie, and the bet is refunded. However, 3-way moneylines cannot push because a draw is an outcome option.
Conclusion
Moneyline betting offers a straightforward way to bet on the outcome of a game. It's great for beginners because you don’t have to worry about point spreads, and it can lead to big payouts if you bet on underdogs. Just make sure to shop for the best odds and know when to use moneyline bets for maximum value.
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