How to bet the moneyline
There are a number of different ways to bet on sports, and one of the most popular betting types is what is known as a moneyline bet. The moneyline is one of the first things that you will see when looking at odds for a sporting event or matchup.
This is also one of the first sports betting terms that you will need to know and understand if you plan on being successful in the industry. This guide will help explain what a moneyline bet is and give you some tips on how to do it correctly.
What is a moneyline bet?
A moneyline bet is the easiest betting type to understand, and it is also the easiest to make. With a moneyline bet, you are simply picking the winning team or individual of a certain matchup.
Sportsbooks or bookmakers will set the betting odds for each team or individual in a matchup, and then all you have to do is pick the winner. There aren't any other tricks involved when making this type of wager, and that is why it is a great bet for beginners to make.
A moneyline bet is extremely popular in sports such as baseball, hockey, and soccer, but you will see this offered in other sports as well. There are just so many different betting options for the most popular sports that serious bettors seem to skip over a moneyline bet.
Look for favorites and underdogs
When you are looking at making a moneyline bet, there are a few things to look for right away to help you out. You will be able to easily identify which team is the favorite and which team is the underdog by simply looking at the odds.
Sportsbooks use a (+) and (-) when setting these odds, and that helps you determine which team is expected to win a certain matchup. There are certain cases where both teams will have the same sign, but that's more commonly found with other betting types.
Whichever team or individual is the underdog in a particular matchup, you will see at (+) sign used. The team that is the betting favorite in a matchup will have the (-) in front of the odds.
This is a huge advantage for beginners as it takes very little time to see how a game or event is handicapped.
Example of a moneyline bet
In order to better explain how a moneyline bet works, let's look at an example using the best college basketball rivalry of all time. For this example, we will assume that the Duke Blue Devils are hosting the North Carolina Tar Heels.
When you are looking to bet on this game, you will see odds that look like this:
North Carolina Tar Heels +125
Duke Blue Devils -135
Because we already know what a (+) and (-) means when making a moneyline bet, then we know that Duke is the favorite at home. We know also know the odds for this matchup, and that will determine how much money can be won by betting on each team.
It is easiest to think of this bet in terms of $100, but you don't have to bet this much when making a moneyline bet.
Using the odds listed above, a $100 winning bet on the UNC Tar Heels would mean that you win $125. On the flip side, you would have to make a $135 bet on Duke to win $100.
You don't always want to simply look at the potential payout when making a moneyline bet, but that is a pretty good place to start.
Pros of moneyline betting
Will always get a true outcome
Easiest bet to make
Easy to understand odds and lines
Cons of moneyline betting
Betting on favorites doesn't offer a big payout
Can get "stale" or boring
Better options available
Tips for betting the moneyline
Even though betting the moneyline is the easiest way to bet on sports, there are still some things that you need to know and understand. Just because this is an easy bet to make, that doesn't mean that it is easy to be successful in making moneyline wagers.
Here are a few tips to keep in mind when betting the moneyline.
Shop for best odds
One thing that you always want to do before making a moneyline bet is shop for the best odds. A moneyline bet is one type of wager that has different odds available, and you always want to be on the lookout for the best ones available.
Each sportsbook is likely going to have slightly different odds for a matchup, but you aren't going to see the underdog and favorite changing often. Getting the best odds can ultimately save you a few extra dollars every once and a while, and that can be the difference between making money or losing it.
Mix in underdog picks
If you are going to win some money when betting the moneyline, you will have to be willing to take some risks. You will have to bet on some underdogs if you are using this betting type, but you have to do your research to nail the right upsets.
You can still turn a profit by simply placing a moneyline bet on favorites, but the payout can be pretty small depending on the odds. It's important to find the proper balance, and winning the bet is always the number one goal regardless of which side you bet on.
Stick to sports you know
One of the most important tips to remember when getting involved in the sports betting industry is to stick to sports that you know. This is the best way to become successful in this industry, even though there is a strong temptation to look at other markets and other betting types.
Making a moneyline bet is a great way to get started in this industry, but only if it is done correctly. Stick to sports and teams that you know will give you the best chance to be successful.
