So, what is a moneyline bet?
Moneyline in betting is where you simply pick who you think will win. The odds are adjusted based on who the bookmaker thinks has a higher probability of winning, based on a multitude of factors.
Check out our how to read betting odds article for a more in depth explanation of that!
You will notice that with moneyline odds that there is one odds with a – and another odds with a + before them. The team that has moneyline odds with the – are considered the favourites and the team with the + are considered the underdogs.
The odds provided by bookmakers are based on either profiting $100 or betting $100. If you are betting on the favourite, you must bet the odds shown to profit $100. Whereas if you are betting on the underdog, betting $100 will return a profit of the odds shown.
Let’s see what is the moneyline in this NHL example:
Boston’s moneyline odds are -130 and are the favourites of the contest, meaning you must bet $130 to be able to profit $100, with a total return of $230 ($130 stake + $100 profit)
Philadelphia’s moneyline odds are +120 and are the underdogs of the contest meaning a $100 bet will give you a profit of $120, with a total return of $220 ($100 stake + $120 profit).
While you get a $10 larger total return by betting on the favourite, you also have to risk $30 more with your stake to get that amount.
Now we will dive in further and look at what is a moneyline bet on this NHL game and break down what different game results mean for your different bets and stake amounts.
With so many different bet types, why choose the moneyline market?
- Moneyline vs spread; If you don’t think the favourite will be able to cover the spread you can bet on them in the moneyline market
- If you think the underdog will win the contest
- If you are combining multiple favourites in a parlay to get bigger odds
- Moneylines also feature in futures markets where there are multiple outcomes for an event available still
Some moneyline tips:
- Always know – what is the moneyline for each team in each game
- Know if teams have any players out with injury or returning from injury that may impact their performance that isn’t accounted for in the odds
- Check moneyline vs spread odds and pick which you think is most likely to happen
- Know what underdogs can win and bet on their moneyline odds.
Sometimes you might not be able to find a moneyline market for a particular contest. This is mainly in football games where there is a heavy favourite, when the spread is higher than -14 and the favourite’s odds are ridiculously low.
Now you know the answer to – ‘what is a moneyline bet?’!
The next step is to learn about other types of betting markets; spread, over/under, parlays or futures or starting winning now by heading over to our picks and predictions pages for NFL, NBA, NHL, MLB, UFC, College Football, College Basketball, Golf, Tennis, Soccer, Horse Racing and eSports!