Are you new to sports betting and feeling a bit lost when you hear terms like “moneyline” or “moneyline odds”? Don’t worry; you’re not alone.
Moneyline betting is one of the most straightforward and popular ways to bet on sports, and it’s the perfect starting point for beginners.
In this guide, I’ll break down the fundamentals of moneyline betting in a way that’s easy to understand, even if you’ve never placed a sports bet before.
You’ll learn what moneylines are, how they work, and how to read the odds.
I’ll also explore real-life examples and share tips to kickstart your sports betting journey.
What Is a Moneyline Bet?
Money line bets are straightforward wagers made on the outcome of a game.
They primarily involve predicting which team or competitor will emerge victorious in a given match.
Since the focus is solely on determining the winner, typically involving two teams or competitors, money line bets offer only a limited number of potential outcomes you can explore.
How Does a Moneyline Bet Work?
In a moneyline bet, it’s all about picking the winning side to cash in on your bet.
While point spread bets hinge on a specific margin of victory, moneyline wagers are usually focused on the winner in a matchup.
All that matters is whether your chosen side wins the game outright, for you to win your bet.
However, there’s a twist: sportsbooks determine moneyline odds based on each team’s probability of winning, even if the teams are not evenly matched.
This can result in steep odds for a heavy favorite or a generous potential payout if an underdog manages to upset the favorite by winning the game.
Due to their simplicity, moneyline bets are often favored by beginners, but experienced bettors also frequently engage in moneyline betting.
Here are the key potential bets on the moneyline;
Favorite
When you see a team or player listed as the favorite in a moneyline bet, it means they’re the ones expected to win the game or event.
The odds for the favorite are represented as a negative number, like -150.
In simple terms, this number tells you how much you need to bet to make a $100 profit.
So, with a -150 moneyline, you’d have to wager $150 to win an additional $100 if the favorite wins.
Betting on the favorite is less risky, but the amount of money you make is smaller.
Underdog
The underdog is the team or player that’s not expected to win but they can still surprise everyone.
In moneyline odds, the underdog is represented by a positive number, say +200.
This positive number indicates how much profit you can make on a $100 bet.
So, with a +200 moneyline, a $100 bet would earn you $200 in profit if the underdog pulls off the upset.
Betting on the underdog can have some risks, but it offers the potential for more substantial profits.
Pick ’em
In some matchups, the teams or players are considered evenly matched, making it hard to pick a clear favorite or underdog.
In these cases, both sides might have moneylines around -110 or +110.
A moneyline of -110 means you’d need to bet $110 to win $100, while +110 means a $100 bet would earn you $110 in profit.
Betting on a “pick ’em” game is like saying it’s a coin toss; either side could win, and the odds are close to even, which reflects the uncertainty of the outcome.
Is It Better to Bet on Moneyline When Sports Betting?
Absolutely, moneyline bets are one of the most go-to choices for sports betting enthusiasts, and they’ve got a lot going for them.
These bets provide a simple and direct way to place your money on the outcome of a game.
What’s great is that you don’t need to fuss about the winning team’s margin; you’re just looking for the winner.
It doesn’t matter whether that team wins by a single point or a blowout; as long as they win, you win. No sweat about spreads and point differentials.
But wait, there’s more! Money line bets can be a goldmine when you have a hunch about an underdog pulling off an upset.
If you’re confident they can win outright, these bets can pay out big time.
In fact, they often offer more substantial payouts compared to spread bets.
So, whether you’re rooting for the favorites or cheering on the underdogs, money line bets are here to make your sports betting experience much more exciting and flexible.
Just do it responsibly because it’s easier to get carried away. This I know, very well!
Does Moneyline Mean Win Outright?
Yes a moneyline bet means that the team you’re betting on must win outright.
It is as straightforward as sports betting gets. It’s all about picking the team or player you believe will come out on top in a game or match.
Your goal here is to choose the outright winner, and how much you’ll win is determined by the odds set by the sportsbook.
Does Betting on the Moneyline Mean You’ll Always Win?
No, betting on the moneyline and picking a winner in a game doesn’t mean you’ll always win.
When you place a moneyline wager, you bet on your preferred winner of the game or match.
If the team or player you’ve bet on comes out on top, you’ll receive a payout based on the odds.
However, if your chosen side doesn’t win, your bet won’t be successful. It’s a straightforward win-or-lose scenario.
Think of a moneyline bet like a coin flip. It can either land on the head or the tail. It’s a 50-50 chance.
What Does Money Line +1.5 Mean?
A +1.5 is not a moneyline, it’s a point spread.
When you see a +1.5 attached to a team in sports betting, it signifies a handicap line rather than a moneyline.
This concept is akin to the run line in baseball, the puck line in hockey, or the point spread in football or basketball.
Handicap lines provide a buffer or a deficit to one of the teams, making the wager more intriguing.
A moneyline bet is a straightforward prediction of the game’s outright result, with no handicaps involved.
So, when you see a +1.5, it indicates that you’re dealing with a handicap line (point spread) and not a moneyline bet.
Does Moneyline Mean Spread?
Moneyline and spread bets are different in how they work. A moneyline bet is when you’re only betting on which team will win a game.
You’re not concerned about how many points they’ll win by; you only want them to win.
On the other hand, a spread bet involves not only picking the winner but also predicting whether or not a team gets the win by a certain number of points.
It’s like adding a handicap to the game to make it even for betting purposes.
A fun fact to keep in mind is that with a point spread you can still bet on the winner and lose your bet if the winner does not cover the spread, but in a moneyline bet, you’ll always win when the team you bet on wins.
How Do You Bet on a Team Moneyline in Different Sports?
NBA: Basketball
NBA moneyline betting is one of the simplest and most popular forms of NBA betting.
It involves picking the team you think will win the game outright. Here’s how it works:
- The favorite in a game is represented with a negative number (e.g., -200), indicating that you need to bet that amount to win $100.
- The underdog is shown with a positive number (e.g., +500), meaning you’d win that amount on a $100 bet.
- NBA Money Line bets don’t result in a push because NBA games can’t end in a tie.
For instance, in a game between the Orlando Magic and the Atlanta Hawks, with the Hawks as a slight favorite at around -120, the money line difference is small.
But in a matchup like the Orlando Magic vs. the Golden State Warriors, the Warriors may be a significant moneyline favorites at -1,000 or even higher, while the Magic are at +700
NFL: Football
Let’s break down moneyline betting using the NFL Week 9 game between the Los Angeles Chargers and the New York Jets as an example.
In this matchup, the early odds favor the Chargers -180, who are playing on the road at MetLife Stadium.
The Chargers are seen as AFC Wild Card contenders, while the Jets +152 are striving to stay competitive without their injured QB Aaron Rodgers.
To illustrate moneyline wagers, we’ll use a $100 bet as a reference. Suppose you believe the Chargers will win the game outright.
If they do, your total payout on a winning $100 bet would be $155.56. This includes your original $100 bet plus a profit of $55.56.
The implied odds of the Chargers winning are about 64.3%.
On the other hand, some bettors might lean towards the Jets due to the larger potential payout associated with the “plus” moneyline and the fact that they’re playing at home.
Placing a $100 moneyline bet on the Jets and having them win would result in a payout of $252.
This includes the initial $100 bet and a profit of $152. However, the implied odds of the Jets winning are lower at 39.7% compared to the potential Chargers win.
It’s essential to note that even if one team is a heavy favorite, victory is never guaranteed in sports betting.
Sometimes it’s clear to pick a winner, other times it’s anybody’s guess.
MLB: Baseball
Learning how to bet on an MLB moneyline is made easier with practical examples to understand the betting process.
Let’s explore a couple of these examples to help you grasp the concept of MLB moneyline betting using these two teams:
LA Dodgers: -102
SD Padres: -118
If you’re betting on the LA Dodgers to win and you see -102 odds, it means that if you wager $102, you’ll make a $98 profit if the Dodgers win the game.
If you think the Padres would win at -118 and bet $100, you would win about $84 if the Padres won the game against the Dodgers.
To potentially make a $100 profit, you need to bet $102 on the Dodgers to win or $118 on the Padres to win.
Soccer
Sportsbooks typically display three sets of odds for each team in the match.
These odds are often represented as the potential outcome of a $100 bet.
Let’s look at an example with two popular soccer teams:
Manchester United vs. Manchester City
Manchester United: +235
Draw: +255
Manchester City: -116
If you believe Manchester United will win, a $100 bet on them will give you a $235 profit, making your total return $335.
For those favoring Manchester City, the favorite, you need to wager $116 to win $100, resulting in a total return of $216, if they win against Manchester United.
Betting $100 on the match ending in a draw will return $255, plus your $100 stake, for $355.
Remember that you’re not limited to betting $100. You can wager any amount you like, and an Odds Calculator can help you determine your potential winnings based on the amount you want to bet.
Hockey
In NHL matches, moneyline betting is a common way to wager on the game’s outcome.
Let’s take an example featuring the Nashville Predators (+190) and the Tampa Bay Lightning (-235):
If you decide to bet on the underdogs, the Nashville Predators, with odds of +190, a $100 wager would result in winnings of $190, providing a total payout of $290 if the Nashville Predators win their matchup against the Tampa Bay Lightning.
If you like the favorite, the Tampa Bay Lightning, at -235, you’d need to risk $2.35 for every $1 you wish to win (betting $235 to win $100).
This moneyline system simplifies betting by providing clear odds for the underdog and the favorite, making it accessible for sports enthusiasts to bet on NHL games.
Boxing/UFC
In the UFC, Each fighter is assigned a number, and the favorite has a minus sign in front of their number, while the underdog has a plus sign.
For example, if Muhammad Ali is a -500 favorite against Tyson Fury who is +300, you’d have to bet $500 to make a $100 profit if Ali wins.
If Fury is a +300 underdog, you would earn $300 on a $100 bet if he pulls off the upset and wins the matchup against Ali.
In some cases, when a fight is considered evenly matched, both fighters might have moneylines of -105.
But even for competitive fights, you might see moneylines like -300 and +225.
Money Lines are not fixed; they can change based on betting trends. If more people favor one fighter, the sportsbook may adjust the odds to encourage bets on the other fighter.
For example, if Ali’s odds move from -500 to -550, you’d need to bet $550 to win $100.
If Fury’s odds change from +300 to +250, you’d only win $250 on a $100 bet.
If you initially bet on Fury at +300 and the odds change to +250, it won’t affect your potential winnings.
You’d still earn a $300 profit if Fury wins, regardless of the starting moneyline.
Tennis
In tennis, the most common way of using the moneyline is betting on a player to win the match.
Here’s an example: If Rafa Nadal has a moneyline of -120 against Roger Federer, it means you would need to wager $120 to win $100 if Nadal wins.
On the other hand, if Federer has a moneyline of +110 in the same match, a $100 bet on him would yield a $110 profit.
Similar to baseball, Football (NFL), basketball, soccer, and hockey, you can bet on the winner of the first set in tennis if you prefer to focus solely on that part of the match.
Cricket
In cricket, one of the most popular ways to bet is by using the moneyline, which involves picking the sportsbook you believe will win the game.
The odds for a moneyline bet in a cricket match are usually represented as follows:
- Australia: -200
- South Africa: +170
Now, that minus sign (-) is for the favorite, which in this case is Australia.
The plus sign (+) is for the underdog, South Africa. If you decide to put $100 on South Africa (+170) and they win, you’ll pocket $270, your $100 bet and an extra $170.
But if you go with the favorite, Australia (-200), and they win, you’ll make $50 with your $100 bet, for a $150 total payout.
What Are Some Good Moneyline Betting Tips and Strategies?
Predict and React to Line Movements
The better you are at predicting when and where the odds will change, the more money you can make with sports betting.
If you see a bet you like but think the odds will improve, you can wait to bet and make a bigger profit.
I don’t always like waiting and predicting line movements is easier said than done, so the majority of the time I am using OddsJam to do this for me, which does a better job than doing it myself.
Moneyline odds shift a lot before a game but catching the movements is a skill you should learn to find better opportunities and increase your chances of winning and finding better odds to wager on.
In sports betting, small advantages make a big difference over time.
You should study how odds change, understand what the public likes, and try to make more profitable bets.
Understand How to Find Value
The key to success, not just in moneyline betting but in any sports betting, is understanding and recognizing value.
Value means finding bets that pay you more than they should. If you make enough of these bets and manage risks, you’ll have a better chance of becoming a more successful bettor in the long run.
I talk a lot about positive expected value bets.
There is no reason why you shouldn’t be taking advantage of these when you have tools like OddsJam positive expected value to find these bets for you.
Too many people focus on their win-loss ratio when it doesn’t always directly affect their profits. You can win more bets than you lose and still lose money.
You can lose more bets than you win and still profit from sports betting. It’s all about finding value and making smart bets.
If you want to improve your skills, read this advanced guide on understanding value betting.
It will teach you everything you need to know about making profitable bets. So you can focus on making more money rather than just winning more bets.
Try a Long-Term Approach
I want to emphasize that moneyline betting is a long-term game. Refrain from judging your success or failure based on just a few games or weeks.
The key is understanding that losing more bets than you win is okay as long as you win the right ones.
Keep track of your progress accurately, and create a tracking system to monitor your wins and losses. Use a bet tracking tool like Pikkit to automatically track your bets.
Since you’ll likely lose more bets than you win overall, monitoring your bets properly is very important to avoid betting more money than you can afford to lose and constantly betting the same way even though you’re losing.
For example, if you bet $50 on each of 10 NFL games over a weekend and lose six, you’d be down $300.
But if you win four games with an average of +170, you’d still come out ahead.
So, focus on the long-term picture and proper tracking to stay on top of your moneyline betting.
Choose Your Favorites Carefully
Many bettors believe moneylines are only worth it if you bet on favorites. However, that’s only true sometimes.
It’s wise to avoid favorites in the -250 to -300 range because upsets can still happen, and it’s not worth the risk for such a small return.
If you prefer betting on favorites, consider betting on odds between -100 and -160 or be okay with giving away some points, even if it’s not the full spread when point spread betting.
This can increase your payouts and balance the risk and reward.
How to Find Great Moneyline Bets
Use Tools Like OddsJam
Use tools like OddsJam: As I mentioned before, tools like OddsJam should be your best friend.
It provides a quick and easy way to compare odds from various sportsbooks, helping you identify the most favorable moneyline bets available.
But this tool is more than just an odds comparison tool.
OddsJam has every single sports betting tool that you’ll need to help you find profitable bets if you’re looking to make money in sports betting and trying to find a sustainably smart way to do it.
If you want to see for yourself what they have to offer you can try their positive expected value and all their other tools free for 7 days to decide if you like them.
Research the Teams
You can research the teams’ recent performance, head-to-head history, and player statistics.
Look for trends that could give you an edge in predicting the outcome of a game and use sports betting tools to further support your intuition.
Line Shopping
Make sure to not limit yourself to a single sportsbook. Check multiple sportsbooks to see if there are disparities in the moneyline odds for the same game.
The easiest way that I have found to line shop is by using OddsJam’s odds comparison tool.
It’s one of the best ways to do this and the way I would recommend most people do it as well.
Winning my bets is stressful enough and I don’t need manual line shopping to be stressing me out as well, so that’s why I think using a tool that can automatically scan the odds from different sportsbooks is the way to go.
Sometimes, you can find better payouts for the same bet by doing this.
Follow Expert Insights
Keep an eye on honest and trustworthy expert sports analysts, tipsters, and handicappers because they always have some tips and ideas you might benefit from.
Their insights and predictions can provide valuable information when making moneyline bets.
However, always remember that even experts can be wrong.
Consider Live Betting
Live or in-play betting can provide unique moneyline opportunities since it allows you to monitor how the game is going.
You can watch the game in real-time and look for moments when odds shift due to in-game developments.
Your quick decisions can lead to great moneyline bets as games unfold.
For example; in a recent game with the Toronto Raptors and San Antonio Spurs. The Raptors were the favorite to win but at the end of the third quarter the Spurs led the Raptors by 15 points and while live betting
The moneyline for the Raptors was +250 while it was at -500 for the Spurs. The 5-10 points winning margin for the Raptors in the game in the third quarter was +800.
Even though the Raptors were the favorite to win the game (before the game started) I didn’t think they could come back from a 15-point San Antonio Spurs lead in the third quarter but they did and won the game in overtime.
Results: TOR 123: 116 SA
Anyone who bet even $10 on their 5-10 points winning margin at +800 would have won $80 per $10 bet and if you bet $10 on their +250 moneyline in the third quarter you would have won $25.
That all sounds amazing, but the truth is one of the most emotional ways people bet on sports is during live betting.
Even though I can look back and say “If”, I don’t know what would have happened, which is why I never placed a bet in the first place. Whatever you do, make sure you’re always betting responsibly. You can always bet again tomorrow so there is no need to get carried away today.