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Sports betting looks intimidating, especially for newbies. I agree that sports betting concepts require time, energy, and commitment to master. Yet, Moneyline is the most straightforward of all, which involves picking the winner of a game. It sounds easy, but you still need to learn its basics. This article will explain what moneyline bets are, teach how to place a successful moneyline bet, and provides practical tips to increase your chances of winning in the moneyline sports betting market.
What Is Moneyline In Betting?
Americans love to do things the American way. Sports betting is no different. Moneyline is an American way of listing the bettings odds. It is a way to describe payouts associated with each listed odds relative to the number 100. I know it just gave you a severe case of WTF, but the concept demands no more WTFs! It is just a notation to describe the payouts better and does not necessarily indicate that you must wager $100 for every moneyline odds (more on this later).
Moneyline is the most straightforward form of sports betting, as all you need to do is pick the winner of a game or a tournament. Hence, depending on the sport, this type of bet will always have two or three possible outcomes. When sportsbooks list two players or teams on a moneyline bet, you will simply choose a player or team to win. However, if you are wagering on a soccer or boxing match/MMA fight, there will be a third option called “draw”, meaning there will be no winner or loser. Some sportsbook websites and apps offer a draw as an option on a moneyline bet, while others offer what is called a “Draw no bet” option which means you can choose a winning player or team but not a draw outcome.
Moneyline Bet Explained: How To Place A Moneyline Bet
It is easier to explain moneyline betting by outlining the different components of a moneyline wager. But before that, let me summarize the main points you need to know about this betting market.
First, bookmakers always list moneyline odds as three or more digit numbers. Second, negative moneyline odds indicates that you should risk more money than you will profit. Last but not least, positive moneyline odds means you will get more money than what you risk.
Bet On A Moneyline Favorite
Favorite is the side, i.e,. team or player, that is more likely to win. Favorites are designated with a negative sign. Betting on a favorite requires you to risk more money than what the payout will be. Since the outcome is more likely to happen and there is less risk involved, the payout will be smaller. For example, a -300 moneyline odds show you will get $1 if you wager $3 and your bet wins. But is this $1 your total profit? Nope! You will receive your initial stake plus the winning if you win your bet. In this particular case, your net profit will be $4.
To make things more practical, here is a formula to calculate your net profit while placing a favorite moneyline bet:
moneyline favorite wager net profit = -100moneyline × your stake
The table below provides some examples to practice more.
| Moneylines and Profits for Favorites | ||
| Moneyline(odds) | Stake | Net profit |
| -100 | $5 | $5 |
| -220 | $100 | $45.45 |
| -300 | $25 | $8.3 |
| -1,000 | $50 | $5 |
| -320 | $10 | $3 |
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Bet On A Moneyline Underdog
Sportsbooks list underdogs as positive or no sign at all. An underdog is a team or player with a lower chance of winning. Hence, more risk is involved, and higher profit is guaranteed. An underdog moneyline bet means your profit on the bet will be more than the amount you risked. For instance, +220 moneyline means you wager $10 to win $22. Like a moneyline favorite, your net profit will be the winnings plus your initial stake, which in this example, will be $32. To calculate your net profit use this formula:
moneyline underdog wager net profit = moneyline100 × your stake
Examples for further practice:
| Moneylines and Profits for Underdogs | ||
| Moneyline(odds) | Stake | Net profit |
| +110 | $5 | $5.5 |
| +200 | $100 | $200 |
| +320 | $25 | $80 |
| +2,000 | $50 | $1,000 |
| +350 | $10 | $35 |
Bet On Even Or Pick’em Moneyline
When two teams are even in terms of the level of play, sportsbooks price them as equally likely to win or lose. You will be paid the same amount for a successful wager on either side in these cases. Sportsbooks list such odds using “EV” or “PK” words. Some bookies may list such odds by the equal wager amount, like a +100, or a combination of the terms and odds such as “Even +100”. For instance, a $100 wager on an EV +100 odds will earn you $200 profit (initial stake plus the even money).
3 Possible Outcomes On A Moneyline Bet
As mentioned earlier, a maximum of three possible outcomes to a moneyline wager are; win, loss, and draw or draw no bet. Let us review each outcome in detail.
🏆 Win: you win your bet when successfully choosing the winning team, player, or a draw (if the bookie offers a draw option). The sportsbooks mainly offer the draw option in soccer or boxing/MMA matches.
🏳 Loss: you will lose your bet when you fail to choose the winning player or team. You also lose if you do not choose a draw option in games that can end in such an outcome.
🔀 Draw or Draw no bet: Draw no bet is seen in games that can end in a draw. For example, in soccer matches, where moneyline odds only offer the option for either team to win, not the game ending winnerless, “draw no bet” is the option. In such games, if a draw happens, your stakes will be returned as if your bet ended in a “push.” If “draw” is offered as an option, though, the only way to win is by choosing the draw option. Otherwise, if the outcome happens to be a draw and you didn’t choose the option, you lose your wager.
Top 4 Sportsbooks For Moneyline Betting
Hundreds of online sportsbooks offer moneyline odds for different sporting events. Yet, not all of them are trusted nor offer the best odds. The following four US-friendly online sportsbooks are the most trusted and legit in the industry. You will find the best and most competitive moneyline odds at each website. On top of that, generous bonuses, fast payouts, secure banking options, and excellent customer support make these websites worth your time and money.
| Top Sportsbooks For Moneyline Betting in 2023 | ||
| Online Sportsbook | Welcome Bonus | Crypto Gambling |
| Betonline | 50% up to $1,000 | Yes |
| FanDuel | Up to $1,000 | No(only Fantasy app) |
| Bovada | $750 BTC Welcome Bonus | Yes |
| BetMGM | Up to $1,000 paid back | No |
To Sum It Up
The American way of listing odds, Moneyline, is the easiest way to bet on your favorite player or team. Learn the basics, practice calculating your net profit correctly, take a side, place a wager, and have fun. But remember to only deposit and gamble at trusted websites like the top four recommended in this post. Although it is easy to place a moneyline bet, you could lose big if the sportsbook is rigged or if you do not practice the concept enough.
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