What is a Moneyline Bet in Sport Betting

One of the easiest-to-understand bets is called moneyline betting. Not only is it straightforward, but there are only three possible outcomes. We're going to take an in-depth look at what a moneyline bet is and how to place this type of bet. 

Moneyline betting is a straightforward wager where you bet on a team to win a game, with three possible outcomes: Team A wins, Team B wins, or they tie, and your payout depends on the odds and the team you bet on.

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Moneyline Betting Explained

Moneyline betting is the easiest bet you'll find in a sportsbook. You bet on a team to win the game when you wager on a moneyline.

There are three outcomes: Team A wins, Team B wins, or they tie. If the team you bet on is the one that wins, you'll get your original wager back, as well as your winnings.

You can bet pretty much anything, but bigger bets will give you bigger payouts.

How do moneyline bets work?

You're betting on which team will win, and if your chosen team comes out on top, you get monet! If the team you bet on does not win, you lose your original wager and receive no winnings.

There's the chance that the teams could tie, which means you don't win or lose. This is also called a push, and you'll get your original wager back without winning or losing any money.

The moneyline odds will differ depending on which teams are playing and which sportsbook you use to place your bets. Before making any wagers, look at all of this information to know how much you'll need to put down and how much you could win.

Bet the Moneyline: Odds and Lines for NFL, NBA, and more

Before making a moneyline bet on any sport, it is important to know how it differs between each. The first step is understanding what odds mean. Odds indicate the amount you win in comparison to your bet. Odds are easy to read, especially in sports like the NFL and NBA.

In most instances, odds are based on a $100 bet and are represented by (–) or (+) in front of numbers. The (+) indicates the underdog and shows you how much profit you get when you bet $100. On the other hand, the (-) indicates the favorite and shows you how much you will need to risk to win $100 along with your initial bet.

The odds may vary depending on the teams involved, with some major teams or favorites reaching up to -200 because of their strength. In contrast, underdogs will have larger odds, like +250 and above, since they have a worse probability of winning a game.

For instance, if you wager $100 on a +150 underdog, you'll get a total payout of $250 ($150 in winnings + your initial bet amount). However, if you wager on a -150 favorite team, you'll need to wager $150 to win $100.

The point spread is also crucial in understanding moneylines. It shows how many points the better team is expected to win a game by. 

Now that we understand odds, here's a look at how they work in some major sports.

NBA Moneyline Explained

When betting on the NBA, you choose which team will win. Let's use the line on an upcoming match available at FanDuel sportsbook as an example:

• Philadelphia 79ers with odds of -650
• Detroit Pistons with odds of +450

The 79ers, in this case, are the favorites, and you'll need to wager $650 to win $100, making a total of $750. But if you are betting on the Pistons, a $100 wager will give you a total of $550 in winnings. 

NFL Moneyline Explained

NFL moneylines work no differently from the NBA moneylines. We will also be using moneyline odds from an upcoming football game at FanDuel:

• Minnesota Vikings +144
• Cincinnati Bengals -172

The Vikings are the moneyline underdogs, and betting $100 will get you a total of $244 in winnings. But if you bet on the Bengals, you would have to wager $172 to win $100 – making a total of $272.

Hockey and Baseball moneyline bets follow the same strategy if you are betting on the moneyline. So long as you keep the basics discussed above in mind, you won't have any problems.

Why Do Moneyline Odds Change?

Moneyline odds can change quickly, and you want to pay attention to it. Many people aren't sure why they change like they do, but it's quite simple. One of the first reasons is that online sports betting sites have to make money. They'll adjust the moneyline odds to ensure they're making some kind of money and not coming out with a loss.

Read this complete guide about fractional odds

The sportsbook will try to get the odds even on both sides of the moneyline so they can easily pay the winners. For example, if they have $200 in bets for Team A and $200 for Team B, they can use the wagers from those that lost to actually pay the winners. 

How to calculate betting odds guide

What is a Point Spread Bet?

The point spread indicates the final score difference between two competing teams. Like typical odds, they are represented by (-) and (+) signs, but the numbers are the same. For instance, if a spread is 5 points, the sportsbook will display it as both -5 and +5. The moneyline favorite team will get -5, while the underdog gets +5.

If a bettor wagers on the Bengals -3 favorites, they must win by 4 points or more to win the bet. But if you wager on the Vikings +3, they can lose by one or two points for your bet to win. However, if the outcome is exactly 3 points, the bet is a push, and the sportsbook refunds the bettor.

The Best Way to Use Moneyline Odds

While moneyline wagers can work well for pretty much anyone or any situation, there are a few instances where it's the best bet to place. To begin with, moneylines are great for those who are just starting out and aren't sure what they're doing. This is because they are simple to understand.

Another instance where a moneyline works best is when you only have a certain amount to bet. Since it's such an easy wager, you can quickly double your money. Then, you can place more bets and check out other moneyline options. With that said, anyone can bet on the moneyline, and it's not just limited to those that are just beginning or don't have a lot of money to bet.

Should I Bet the Moneyline Odds?

If you're looking for something easy to understand and win, you should definitely bet the moneyline. It's one of the easiest bets to comprehend, and if your team wins, you'll win regardless of the final score or what happens in the game. Moneyline wagers are great for everyone, and you might be surprised at how much you can win!

Betting the moneyline on the underdog can give you a nice chunk of change. This doesn't happen often, so make sure you're looking at all the information and statistics before placing one of these bets. If you do bet on the underdog, you'll want to make sure you know exactly how much you'll bet and how much you'll win if your team comes out on top.

What Are Moneyline Parlays?

Moneyline parlays let you combine numerous moneyline wagers and bet a single amount for a larger payout. The more betting lines you include in the parlay, the higher the amount you could possibly win.

On the downside, for your moneyline parlay to win, all the picks must be correct. For instance, if you have five moneyline picks in your parlay and get one wrong, you lose the entire bet.

Moneyline Live Betting

Moneyline live betting is also referred to as in-game or in-play betting. It lets you wager on events that have already begun. The moneyline odds can change as the game progresses based on specific factors like score and remaining time. Live moneyline betting will allow you to leverage these changes for a chance to win more.

Remember, even though you can bet after the game begins, most sportsbooks will stop bets after a certain point in the game. These types of bets are exciting, but you need quick thinking and decision-making to leverage the benefits properly.

When Can Moneyline Bets Be Canceled?

While this doesn't happen often, there are some instances where the moneyline wager can be canceled. The sportsbook will normally cancel your moneyline wager if the game is postponed or abandoned. Sometimes, this can be due to an act of nature or if the game location changes.

In Baseball, moneyline bets associated with pitchers are prone to cancellations. Your bet might be canceled if the pitcher is replaced or scratched at the last minute. Most times, the sportsbook will simply refund your bet.

Nonetheless, we recommend you check out the sportsbook terms and conditions so you won't be blindsided.

Best Sportsbook Online

While many great sportsbook sites are online, some are fan favorites. We will look at five of the top sportsbook online sites to give you a better idea of where you can start placing your bets.

1. DraftKings

DraftKings is a major contender when it comes to sports betting. It is user-friendly and offers a reliable mobile platform on both IOS and Android, both offering a premium betting experience.

There are up to 20 markets here, all covering major events. You can leverage these using great betting options like moneylines, spreads, futures, and teasers. The best part is that with only $5, you can register and instantly get $150 in bonus bets!

Once you’ve had enough fun, you can quickly withdraw your earnings in 3-5 days using options like PayPal, Credit Cards, and other leading options.

2. BetMGM

BetMGM comes from the same company that deals with the MGM casino line. With this being the case, you can expect a fun betting experience with many amazing features. In fact, its extensive offerings have earned it the title “King of Sportsbooks.”

It covers an impressive range of betting markets supported by betting options like moneylines, spreads, and parlays. Payments are seamless here, with 10+ options to deposit and withdraw – all with a minimum of $10.

As an added benefit, once you register and deposit on BetMGM, you can get up to $1,500 in bonus bets!

3. FanDuel

FanDuel is a top sportsbook site that holds its own against DraftKings. It's user-friendly, has bonuses and promotions, and plenty of money line markets. 

They have multiple deposit and withdrawal options, including credit cards, a prepaid FanDuel card, and PayPal – all of which support a minimum deposit of $10. Make the minimum deposit and wager $5 on any moneyline markets, and FanDuel instantly rewards you with $150!

In addition to the deposit bonus, you can enjoy others, like daily odds boosts. They have many running bonuses, promotions, and specials, so make sure you see what they offer!

4. PointsBet

If you're looking for a sportsbook that only focuses on sports betting, then PointsBet is worth a second look. The company is based out of Australia and offers many different betting types, including favorites like moneyline odds and point spread. The site has been a big hit in the U.S. because of its unique Points Betting system and its user-friendliness.

Registration can be done in just a matter of minutes with the chance of claiming up to $1,000 in second chance bets! PontsBet also has several ongoing promotions to help you make the most of your betting.

In addition, there are plenty of deposit and withdrawal options, like Visa, Mastercard, and online banking transfers.

5. Caesars Sportsbook

The final sports betting site we will talk about is Caesars. Don't be deceived because it appears last on our list, as the platform does not disappoint.

It has plenty of betting options, like parlay bets and moneyline betting. They have an extensive rewards program that allows you to get freebies and comps.

You can also get various rewards that you can use on the app and several Caesars locations worldwide. Caesars supports a variety of reputable payment methods, including credit cards, bank transfers, PayPal, and wire transfers.

FAQs

WHAT IS MONEYLINE VS. SPREAD?

Moneyline is when you bet on one of the teams to win, while a point spread is where you bet on how many points a team will win by or not lose by. A point spread can be difficult to win, but a moneyline bet offers you a relatively better chance of winning.

WHAT HAPPENS IF YOU BET A MONEYLINE AND THEY TIE?

If you bet moneyline and the team tie, it'll end in a push, which means you'll get your original wager back, but you won't gain or lose any money.

HOW DO MONEYLINE BETS WORK?

With moneyline bets, all you do is bet on the team you think will win. If they do, you'll win your bet; if they don't, you'll lose.