The Secret to Creating the Perfect Moneyline Bets
How to Place a Moneyline Bet
Thanks to new regulations in several states, there are many legal sportsbooks across the country. They offer different markets and varying odds, so take the time to compare the options to find one that provides value for money.
Moneyline bets are the simplest and most popular type of bets available in a majority of the US-based legal sportsbook mobile apps. The sportsbook assigns specific odds to the undergo teams and the favorite team to bag the game. All you have to do is predict the winner.
The risk-reward equation comes into play in this form of bets. However, the payout is significantly higher if you risk betting on the underdog to win the match.
What Does a Moneyline Bet Truly Mean?
As mentioned earlier, moneyline bets are the most apparent and basic wagers in the US sports betting industry. You select the player or team that will win the game or the competition.
The moneyline odds are usually either positive (+) or negative (-) numbers displayed adjacent to the team or the player involved in the game. For example, a moneyline wager on an NFL match between the Dallas Cowboys and the Pittsburgh Steelers will be displayed in a sportsbook app as the following:
Cowboys +200 vs. Steelers -140
- The positive (+) number is assigned to the team that the sportsbook believes is less likely to win the match. It is also the amount of money you will win for every $100 you risk.
- The negative (-) number is assigned to the team that the sportsbook believes will likely win the match. It is also an indication of the amount of money you are required to wager to win $100.
Using the above example, you will need to bet $140 to win $100 if the Steelers win the game. Alternatively, if you decide to bet $100 on the underdog, in this case, the Dallas Cowboys, you will win $200.
Even though this option looks simple on the surface, complex mathematics is used to calculate odds. Also, the odds are not static, as they will change depending on the team or player’s skill level and ability to win (or lose) the game.
Moneyline Bets on Different Sports
Like anything else in life, there is a learning curve that you have to get through to ace this form of betting. Here are examples of scenarios of moneyline bets on different sports available in legally accredited US sportsbooks.
NBA Moneyline Bets
DraftKings Sportsbook is the ideal sports betting platform across the US for placing moneyline bets. An example of a moneyline wager you can place on this sportsbook is Phoenix Suns (-200) vs. the Washington Wizards (+300).
The Suns are considered the favorites, as shown by the negative symbol (-), while the Washington Wizards are the underdogs. If you stake $200 on the Phoenix Suns winning the match, you will win $100. In total, you will cash out $300 ($200 stake plus the $100 winnings).
On the other hand, if you decide to bet $100 on the underdogs to win the match, the Washington Wizards, you will cash out $400 ($100 stake plus the $300 winnings).
Based on the above simple arithmetic, you will need to stake more money on the favorites to win to cash out a sizable amount.
UFC Moneyline Betting
WynnBET is a new generation mobile app that is user-friendly and intuitive. You can use it to find worthwhile UFC moneyline bets in seconds.
For example, with the contest between JJ Aldrich vs. Vanessa Demopoulos, the latter is considered the underdog with +275 odds. If you bet on Demopoulos winning the fight using $200, you stand a chance to win $275.
JJ Aldrich is the favorite and has odds of -360. Therefore, you will need to bet using $360 to win $100. Aldrich has to win the match for the bet to be successful.
MLB Moneyline Betting
FanDuel is the largest US sportsbook, best known for offering competitive odds to US bettors.
Take a game between the Boston Red Sox and the Baltimore Orioles, for example. The sportsbook assigns -250 odds to the Red Sox as they are the favorites to win. You will need to bet $250 to win $100.
If you decide to bet on the underdog team, the Baltimore Orioles, you will need to wager $100 to win $250. But the Orioles have to win the match for your bet to be successful.
Tips for Placing Moneyline Bets
- Be wary of big favorites
Even though a sure way of winning a moneyline bet is by wagering on the favorite, the payout is low. For example, a favorite team with -500 odds means that you have to bet using $500 to win $100. It’s not worth the hassle and risk. You would be better wagering a small amount on the underdog.
- Bet on the right sport
Place moneyline bets on sports you are familiar with and knowledgeable on to increase the chances of your moneyline being successful. Many US bettors wager on hockey and baseball as the two are highly unpredictable. As games can go either way, odds are usually higher for the underdogs.
- Conduct research
The outcome of a match can be affected by many factors, such as injuries, fatigue, and weather. Do your homework to know all factors that could influence the outcome before placing a moneyline bet.
Moneyline bets are ideal for both new bettors and experienced bettors. Be sure to take advantage of generous welcome bonuses offered by most US sportsbooks to learn the ropes and increase your bankroll.