Moneyline Sports Betting
There are some basic information you need to know when placing wagers on Moneyline bets. Moneyline betting is different than point spread bets at online sportsbook sites, and can certainly garner a serious sports bettor money when done correctly.
Best Sports Betting Sites For Moneyline Bets
Keep reading below to learn how moneyline sports betting works:
Examples of Moneyline Betting
When you are looking at moneyline betting, it will appear to look like the following:
- Los Angeles Dodgers -130
- Chicago Cubs +120
- Boston Celtics +140
- Miami Heat – 130
- New England Patriots -110
- New York Jets -110
- Tampa Bay Lightning – 125
- Florida Panthers +115
Moneyline Sports Betting Odds Explained
In moneyline sports betting, both teams will appear, with the home team being listed at the bottom. When a (-) stands next to the team, they are the apparent “favorite”. The (+) means they are the “underdog”. Not all games have a favorite and underdog, as odds makers may have both teams as even odds. In the first example in Major League Baseball, if you were to bet on the Los Angeles Dodgers to beat the Chicago Cubs, for every $13 you wagered, you would win $10. On the flip side, bet the Chicago Cubs, and win the bet, and for every $10 you wager, you would win $12.
With the example from the National Basketball Association, the Boston Celtics would be on the road, and the underdog. If you want to bet the Celtics, and you placed $20 on the wager, and they won, you would win $28. If they lost, of course you would lose your money. Miami would pay out $20, on a $26 bet.
The third example from the National Football League shows both teams as even. Why are they not at +100 then? Because the extra is the “juice” that whatever sports betting site you use is charging you for the bet. Almost every sports bet you make will take “juice”. In this case, whoever you bet in this game, for every $11 you wager, you would win $10.
The last example – out of the National Hockey League shows that the Tampa Bay Lightning are playing on the road at the Florida Panthers. It also shows that the road team, Tampa Bay is the favorite. For every $12.50 bet on the Lightning you would win $10. The Panthers, as the underdog would pay off $11.50 for a $10 wager.
When The MoneyLine Bet Is Used
Moneyline bets are used when point spreads are irrelevant. Sports such as hockey, baseball, boxing, tennis and auto racing do not need point spreads. Sports like football and basketball have a spread to make your bet against. Even though basketball and football have spreads, they also offer moneyline betting as well. There are some games, where odds makers do not offer a moneyline bet, because the risk for them to lose money on an underdog team may be too high.
MoneyLine Sports Betting Tips
Moneyline betting can be profitable if done correctly. While some may think you could get rich fast by just betting the favorites in every game. This is not quite the case. The reason being, many times some of the big favorites are upwards of -300 and even higher. That would mean, several bets would be needed to make the amount of money you are looking for.
Then on the other side, if you bet the underdog to make a little more money on your online bet – your risk is much higher, due to their chances of winning being low. Use moneyline betting wisely and most importantly – enjoy it!