Moneyline Bet 2021: Strategy, Tips & Top Betting Sites
Bettors who are accustomed to sports betting know all about the moneyline bet. Whether betting the moneyline in football or getting in some moneyline NBA betting in, there is no shortage of action to be had when this sports wager is involved. One of the premier bet types in all of sports gambling, it’s no wonder that this wager has been able to last for as long as it has. In this guide to moneyline betting, find out everything you need to know about betting on the moneyline, as bettors can have the moneyline bet explained to give them a better understanding of it and how to place a moneyline bet and win money.
- Wager on games straight up
- Bettors have to predict who will win sporting events
- Includes overtime except for in a moneyline bet soccer wager
What is a moneyline bet?
The moneyline bet is one of the cornerstones of sports betting, one of the simplest betting types there is. It is where a simple question is asked of bettors. That question is which squad or player is going to win a match. There may not be a more simple form of sports betting out there, as bettors don't need to deal with a spread (see spread betting), the point totals, or any of the other noise that can get in the way of predicting who is simply going to claim a contest. Of course, there is more to this type of betting than that, but the main component of betting the moneyline is just knowing which side is going to win a game and making a moneyline bet prediction accordingly.
How does moneyline a bet work?
Betting on the moneyline does require more than simply an opinion on which side is going to claim a sporting event. First, bettors have to navigate the odds. Money line betting odds see sides as either the favorite or the underdog from an odds perspective. The favorite is deemed more likely to come out on top of an event and bettors have to lay down more money to earn their desired payout as a result. Underdogs, on the other hand, are considered the less likely side to be victorious. Because of that, bettors can often place a bet on the underdog and receive a better pay out than they risked if the bet goes their way.
To place a money line bet, a bettor has to login to their preferred sportsbook and find the sporting event that they want to wager on. This usually requires them to choose the sport they want to bet on, followed by the league or other competition that falls under that sport's umbrella. From there, a bettor can select which side they think will get it done on the moneyline, keeping in mind that the odds will look very different depending on which side is chosen. Once a side is chosen, the bettor can select what they would like to risk on their moneyline bet and finalize the wager once and for all.
Once in the game itself, the money line bet works very simply. Whichever team wins the game wins the bet. Except for soccer, in which draws count as losses on the moneyline, games that go to overtime still see the winner of the game finish on top on the money line.
Advantages of moneyline betting
The biggest advantage to moneyline betting is the fact that the moneyline bet is so simple. All it wants to know is which side is going to win a game, with easy to understand odds instead of the point spread. When you are constantly monitoring factors to come up with the best possible wagers, that level of simplicity can be incredibly refreshing compared to point spread betting. Also enjoyable is the fact that that simplicity lends itself well to money line bets being added to multi bets and other exciting wagers that can see the humble moneyline turn into the cornerstone of a massively profitable hit.
Another one of the advantages to moneyline betting is the fact that betting on the moneyline in football or any other sport sort of gives away the implied win probability of that event. Statistically, bettors can take the money line odds and understand that one squad has a decided advantage over the other if that is what the line is suggesting in the favorite and underdog dynamic. That kind of information is valuable for setting expectations for both teams.
As an added bonus, even bettors who don’t receive sports betting specific content will enjoy the fact that they can get content related to their bets as an added bonus, just by consuming any sports media. Bettors or not, the media often discusses who they think is going to win each game and why. That is ideal for a bettor who likes making moneyline bets, because they can get that crucial information without having to seek it out from a hard to find source.
Finally, the amount of different types of this wager that are available make it an attractive option. Here is a rundown of the formats that moneylines can be used for, in addition to the fact that they can be placed across a number of sports.
- Pre-match wagers
- Live bets
- Futures wagers
Drawbacks to moneyline betting
On the flip side, the way that the odds of the money line bet are structured can make it difficult to turn a profit long-term. This is mostly true if a bettor likes to back the favorite consistently, but it could happen to underdog backers as well depending on how their bets play out. But that is practicaly the only negative to moneyline betting.
If a sports bettor really wanted to find another issue with moneyline betting, it could be the fact that it is too mainstream, given that other bettors are also likely interested in betting on who is going to win rather than more exotic markets. In a way, the money line could be argued as having reached a critical mass of sorts, with plenty of new bettors infusing action into the market and inflating lines accordingly. But that shouldn’t be a reason for bettors to get upset, as there is plenty of moneyline action to be split around to everyone.
Example of a moneyline bet
For this example of a moneyline bet, we will say that we are betting on a football moneyline bet. Team A is a -250 favorite against Team B, which sits at +175 as the underdog in our example matchup. If we bet on Team A, we would have to risk $250 to make a $100 profit. Whereas backing Team B would allow us to risk $100 to make $175. For the purposes of this example, we will back Team B. Typically, backing underdogs means higher potential moneyline odds, which we would receive if Team B were to win the game straight up without the help of any sort of point spread or handicap betting.
It should also be noted that bettors do not have to risk any specific amount when placing a moneyline bet. They can wager any amount within the limits of the sportsbook that they are using, although the common parlance when moneyline betting is to use the $100 mark as a reference point as it is in this example.
Moneyline betting strategy
When it comes to betting on the moneyline, there is plenty of moneyline betting strategy that bettors should keep in mind. Of course, exact strategies depend on exactly what sport is being wagered on. But across the board, it is important to factor in things like home and away performance, recent form, what injuries might be bothering a squad, and any number of other factors that can inhibit a squad's ability to perform. Even the weather can play a huge role in the way that teams play in outdoor sports depending on how they are constructed.
Additionally, bettors should not be afraid to take a good look at underdogs when doing their betting. The plus sign next to their name might be a little intimidating, but plenty of underdogs have and will win sports events at advantageous odds. The key is knowing how to spot chances for those underdogs to break through in a game and pouncing when the time is right. And speaking of pouncing when the time is right, bettors should also keep an eye out for line movements that can make betting on one side or the other more or less profitable depending on which side of the odds and which side of the game a bettor is on.
Some, when it comes to strategy, go into money line betting without one. This is because they feel that putting all of their eggs into a strategy can lead to bets that aren’t always ideal for an individual game situation. But that sort of thinking is a matter of personal preference that each bettor would have to decide for themselves.
Choose your ideal sportsbook to place your wagers
Moneyline sports bets are fun for everyone, and you can have fun playing them as well once you find the right sportsbook with which to do so. And with our sportsbook comparison tool, that task is easier than ever. All you need to do is look at the listed sportsbooks and make judgements based on your own personal criteria. It will help you figure out which bookmakers will meet your needs and which won't, which will help you make a choice and place a money line bet faster. Don’t miss another minute of the action. Get your bonus and find your ideal sportsbook now.