Moneyline Explained

1. Hockey Moneyline Explained
2. Moneyline Gambling Explained
3. Sports Betting Money Line Explained
4. Sports Money Line Explained

Moneylines are one of the most common types of bets in sports betting. Few, if any, sportsbooks do not offer moneyline wagers to their customers.

Since sports betting is new in Colorado, it’s important that Coloradans understand this common betting type. So, here is a handy guide on moneylines, complete with numerous examples to show how they work.

How the moneyline works

As we already explained, 'money line' is a form of bet, relating to the straight-up outcome of the game. In this aspect, money line is similar to 'point spread' or 'total'. On the other side, 'line' is the payout on the bet, i.e. How much you will win if your bet is a winner. Moneyline betting explained. Learn what positive and negative moneyline numbers mean. Know when to bet moneylines instead of spreads. Calculate ML payouts when you're betting more or less than $100. Convert moneyline odds to their decimal or fractional equivalent. We explain how moneyline betting works in a little more detail below. There’s no need to feel overwhelmed, since they’re relatively straightforward. As a result, the strategies for betting moneylines are also rather straightforward. Nonetheless, we provide some useful advice for how to use them effectively. Moneylines Explained.

• Nov 04, 2020 How American (Moneyline) Odds Work American odds (aka moneyline odds or US odds) are popular in the United States. The odds for favorites are accompanied by a minus (-) sign, indicating the amount.
• Money line bets can seem a little confusing at first, especially for the bettor who has traditionally wagered their money on the point spread. The money line is actually the most straightforward bet you can have on any sport. Whilst the spread bet is on a team to win and by how many, the money line is.

First and foremost, let’s define what a moneyline bet is. Simply put, a moneyline bet is a wager on which team will win the game or match.

Unlike other types of wagers, it does not matter what the margin of victory is or how many points the teams score. All that matters is which team or competitors emerge as victorious.

Moneyline bets are denoted on a sportsbook’s display by three-digit numbers that are next to each team’s name. In each contest, one of these numbers will be positive, and the other one will be negative.

One advantage of betting on the moneyline is that the sportsbook’s profit is baked into the line itself. So, unlike point spreads or totals bets, there is no need to pay any vig on top of your wager.

What the numbers mean

The team with the positive number next to it is the underdog, or the team expected to lose. The team with the negative number is the favorite, and is most likely to prevail.

The numbers let bettors know the payouts associated with betting each side of the game. The positive number is the payout amount that a winning bet will receive on a $100 wager. The negative number is the amount that a bettor must wager in order to win $100.

Of course, these payouts are not hard-and-fast amounts. Rather, they are expressions of the proportions that the sportsbook is using for that particular game.

In fact, positive moneylines are convertible into straight odds for those who wish to do a few calculations. One rule of thumb is that every 100 that the positive moneyline increases corresponds with another whole number of odds.

So, for instance, a +100 moneyline is a 1:1 odds bet, while a +200 moneyline is a 2:1 odds bet. A +300 moneyline is 3:1, and so on.

If that’s confusing, don’t worry. It’s a lot easier to understand with some practical examples.

Moneyline betting examples

The following examples should help illustrate how moneyline bets work. All of these entries are actual bets that were featured on DraftKings Sportsbook.

Bear in mind that a payout is simply the profit you can expect to realize on the bet. So, if you win, you will receive the payout plus your original bet back.

NFL: Super Bowl LIV

Chiefs: -122
49ers: +108

Explanation: So, in this scenario, the Kansas City Chiefs were the favorite to win Super Bowl LIV. However, given how close each number is to 100, the sportsbook clearly believed that it would be a tight ballgame.

To that end, a $100 wager on this game would only pay out $108. Expressed as straight odds, the 49ers were only a 1.08:1 underdog.

Sample payouts (assuming that the bet were to win)

• $100 on the Chiefs – $81.97 profit, $181.97 total
• $100 on the 49ers – $108 profit, $208 total
• $122 on the Chiefs – $100 profit, $222 total
• $122 on the 49ers – $131.76 profit, $253.76 total
• $50 on the Chiefs – $40.98 profit, $90.98 total
• $50 on the 49ers – $54 profit, $104 total
• $5 on the Chiefs – $4.10 profit, $9.10 total
• $5 on the 49ers – $5.40 profit, $10.40 total

NBA: Cleveland Cavaliers (CLE) vs. Oklahoma City Thunder (OKC)

CLE: +650
OKC: -910

Explanation: The larger numbers indicate that DraftKings did not expect the final result to be close. At the time, Oklahoma City’s record stood 10 games over .500, while Cleveland had lost 25 more games than it had won.

So, since the sportsbook felt that a certain outcome was particularly likely, bettors who took that side stood to profit very little. On the other hand, if Cleveland did manage to pull off the upset, then a bet would pay off quite handsomely.

Sample payouts

• $100 on CLE – $650 profit, $750 total
• $100 on OKC – $10.99 profit, $110.99 total
• $910 on CLE – $5915 profit, $6925 total
• $910 on OKC – $100 profit, $1010 total
• $50 on CLE – $325 profit, $375 total
• $50 on OKC – $5.49 profit, $55.49 total
• $5 on CLE – $32.50 profit, $37.50 total
• $5 on OKC – $0.55 profit, $5.55 total

NCAAB: McNeese State (MNS) vs. Texas A&M – CC (TACC)

MNS: -110
TACC: -110

Explanation: Occasionally, two teams are so evenly matched that they both feature negative moneylines. In this case, the sportsbook simply does not feel comfortable about predicting the outcome to the point that it will pay extra if the underdog wins.

One thing to bear in mind about moneylines is that point spreads for the same match can reveal further information about the rationale behind where the line is. In this case, DraftKings has set McNeese State as a mere 0.5-point favorite, so the game really could go in either direction.

Sample Payouts

In this case, since both lines are the same, the payouts will be the same, too.

• $100 on either – $90.91 profit, $190.91 total
• $110 on either – $100 profit, $210 total
• $50 on either – $45.45 profit, $95.45 total
• $5 on either – $4.55 profit, $9.55 total

Other uses for moneylines

Although moneylines are a betting type in their own right, the moneyline format appears in a few other places throughout most sportsbooks. For instance, books use a similar three-digit number to add in their vig to point spread and totals bets.

Though they don’t mean quite the same thing, they serve to inform bettors about how much they’ll have to lay to win $100 on a particular spread or over/under. The same rule about betting favorites on the moneyline – the negative number is how much to wager to win $100 – applies here.

However, moneylines also show up as a format to declare straight odds on various wagers. Notably, futures bets are often expressed in terms of moneylines.

Most recent betting guides

Example: NBA team futures

Futures bets are wagers on cumulative long-term events. A futures bet might pertain to a season award or an eventual champion.

In that vein, DraftKings has established a futures section for betting on the eventual NBA champion for the 2019-2020 season. Each team in the league appears on a list with a positive moneyline next to it.

Here are the listings for the top 11 teams:

• Los Angeles Clippers: +300
• Los Angeles Lakers: +300
• Milwaukee Bucks: +320
• Philadelphia 76ers: +1200
• Houston Rockets: +1500
• Boston Celtics: +2000
• Denver Nuggets: +2000
• Utah Jazz: +2000
• Dallas Mavericks: +3000
• Miami Heat: +3000
• Toronto Raptors: +3000

The first thing that sticks out about this list is that there are no teams listed as favorites (negative moneylines). Quite simply, it is difficult to forecast into the future with any great certainty. Even the favorites to win it all (the two Los Angeles teams) are still underdogs against the field.

The other thing to notice is that dividing each moneyline by 100 quickly reveals the straight odds associated with each bet. To put it another way, here are those same bets, converted into straight odds:

• Los Angeles Clippers: 3/1
• Los Angeles Lakers: 3/1
• Milwaukee Bucks: 16/5 or 3.2/1
• Philadelphia 76ers: 12/1
• Houston Rockets: 15/1
• Boston Celtics: 20/1
• Denver Nuggets: 20/1
• Utah Jazz: 20/1
• Dallas Mavericks: 30/1
• Miami Heat: 30/1
• Toronto Raptors: 30/1

So, needless to say, these are long odds, no matter who you choose. Hopefully, however, if you choose to make a futures bet, you will at least be able to read the odds as they appear now.

Hockey Moneyline Explained

Value. Risk. High payouts. Betting on the moneyline combines all the factors that make gambling on sports such an exciting venture.

If you’re not familiar with the term, the moneyline is best described as the odds you get when you bet on who will win a game straight up. When you take the spread out of the occasion, betting becomes less about luck and more about spotting your opportunities and taking advantage of them.

The unfortunate reality is that most amateur bettors ignore the moneyline because of the risk involved.

Either you bet on a favorite and risk losing more than you stand to gain, or you bet on the underdog and have a much higher chance to lose your bet.

With that being said, the moneyline presents a unique chance to win big if you have the right strategy in place. In this article, I’ll lay out the factors to take into consideration that could help you capitalize on moneyline bets in all sports.

1 – Selection Is Key

In the same way the real estate is about location, location, location, betting on the moneyline is all about selection, selection…you get the point.

Whereas betting on the spread can leave more opportunity to win bets when you don’t really know what you’re doing, consistently adding to your bankroll via moneyline bets requires you to be picky when deciding which games to play.

Obviously, the trick in finding the best value is identifying games in which the underdog has a chance to win, or betting on a favorite isn’t too costly. However, if you’re playing multiple games at once, you can take a few more chances.

It’s important to keep in mind that sportsbooks adjust their moneylines in accordance with the public’s action, so you can find instances where the odds actually lean slightly your way if you have more knowledge of a game.

Research is key when deciding which plays to make, so do an adequate amount of homework and carefully choose which underdogs you think have a chance to win a game outright.

2 – Long-Term Approach

I can’t stress this enough—betting on the moneyline is a long-term game. Evaluating your success or failure after just a few games, or even a few weeks, isn’t going to help you gather an accurate assessment.

Because the best value in betting moneylines is found on the underdog, you’re almost always going to lose more bets than you win.

The key is recognizing that you can lose more than half of your bets and still make a ton of money if you win the right games.

One of the best ways to stay on top of how you’re doing is by creating a tracking system so that you’re aware of the money coming in and money going out. Because, as previously mentioned, you’re likely to lose more bets than you win overall, it can create a distorted picture if you don’t monitor things correctly.

Let’s say that over the course of an NFL weekend you bet on $50 on each of 10 games. You might lose six games, which would put you at -$300. But if you win four games at an average of +170, you’d still come out ahead.

3 – Don’t Neglect Favorites (But Choose Carefully)

Many bettors think that unless you only bet favorites, moneylines aren’t worth the risk. However, that’s not always the case.

It’s probably best to stay away from favorites in the -250 to -300 range, as this is the spot where upsets are still entirely possible and it’s not worth it to make a bet where you’ll only return a third of your money.

If you’re the type of bettor who wants to play the favorites, consider giving away some points, even if it’s not the full spread. This will increase your payouts and slightly close the gap between risk and reward.

Another move that can be profitable is a multi-team parlay with moneyline favorites.

In any given NFL week, you can choose the top three or four most lopsided games and still get a nice haul if you hit on each. While you might only win the same amount you bet, meaning $100 to win $100, it’s not necessarily too big of a risk. Just keep in mind that, as the cliché goes, anyone can win on any given Sunday.

The best odds for betting favorites exists in the -150 to -200 range. These lines present an opportunity to win back decent money for your bet. Obviously, you’re going to suffer some losses that will make you feel like it’s pointless to bet on the favorite, but that’s the price you pay for picking the team that “should” win.

4 – Consider the Sport

Bettors who like gambling on baseball and hockey games are acquainted with the power of the moneyline in a unique way. Unlike basketball and football, baseball and hockey’s “default” play is who will win the game outright.

Most baseball betting purists will contend that it’s always a smarter move to put your money on the underdog.

After all, even the worst teams in the league win about 60 times per year. Because of the unpredictability of who will win is so high, when you’re able to find an underdog at -200 or more, the value is hard to resist. Though the winning percentage numbers are slightly different, the same philosophy holds true for hockey.

Things are a little different when it comes to betting on football and basketball moneylines. In football, if there’s a favorite of -200 or more, statistically, they’re much more likely to win the game outright than in other sports.

Moneyline Gambling Explained

Basketball can be a bit more difficult, as good teams are susceptible to upsets, but only in certain situations. If you’re betting on the NBA, do your research to find out which scenarios create a better chance for the underdog to win and you can make educated plays with high value.

Determining the likelihood of underdogs winning outright is always going to be a complicated proposition, so make sure to do research specific to the sport you want to bet on before taking the leap.

5 – Assess Value

All gamblers know that the key to a good betting strategy is making plays with good value. Finding value is a concept that’s easy in theory, but extremely difficult in practice.

Sportsbooks put a value on each time via the moneyline, and while this is a good starting point, it isn’t necessarily always accurate. This means that you’ll have to do some work on your end to see if your prediction of the potential outcome of a game align with the odds presented.

The best way to do this is by first evaluating each game without looking at the moneyline.

Take all factors into account such as injuries, whether or not a team is hot or cold, past history between the two teams, and obviously overall team talent. This will help you decide if a team is over, under, or properly valued.

You’ll find that an undervalued underdog is attractive because you can bet less to win more. Although this is absolutely true, bettors have a tendency to overlook undervalued favorites. If there was ever such thing as a “safe” bet, it’s a moneyline favorite when you can get odds better than -150.

Sports Betting Money Line Explained

Sports Money Line Explained

Conclusion

It’s unlikely that you’ll give up betting on spreads entirely, but adding the moneyline option to your betting strategy can have huge benefits. It’s a good way to recognize that not only do favorites not always cover the spread, but they often lose outright.

Find a specialty, whether it’s finding value in favorites or underdogs, and see if you can steal a few games without worrying about covering.