For the most part, bettors are constantly making moneyline bets whilst being completely oblivious to the fact they’re doing it. Even for the less experienced players, they’ll likely have made a handful of moneyline bets before.
But what is moneyline betting? Well, it’s probably the most simplistic and common way to wager on sports and simply put, it’s when a bettor chooses the winning side. The next question bettors will be asking is “what does it mean to bet the moneyline?”
The favorite team or player on the moneyline is the team that’s expected to win and the odds are preceded by a “-” symbol to indicate the favorite with the rest of the pack, or underdog, with a “+” symbol before it. These symbols have more purpose than simply highlighting who is likely to win the contest; the “-” indicates that the payout will be less than the original wager, while the plus side will pay more.
For those of our readers that want more information regarding betting 101, we have a range of betting guides covering all the essential and going into depth about betting strategy and how to maximize bet value.
We will now discuss how to bet moneyline and where to find the best moneyline betting markets. Generally speaking, low scoring sports like soccer, baseball, hockey, rugby and many more are the most common betting lines. However, other sports such as football and tennis offer moneyline wagers.
This will probably leave readers fairly confused, so let’s get into an example to clear things up. Let’s use an example from the Superbowl odds as this is one of the most popular moneyline wagers across major sportsbook providers.
When calculating the payout of a moneyline bet, we’d highly recommend working with a stake of $100 as it makes the calculations quicker and clearer. Using an example from the Superbowl 54 with the San Francisco 49ers to win at +108, the breakdown looks something like this:
Betting on the favorite at the Super 54 would have been something around -125 and would breakdown like this:
Betting on the underdog is a common line for many bettors, as the potential profits are always much higher than wagering on the favorite. Hopefully, we’ll have made clear whats a moneyline bet and how do moneyline bets work!
Something to be aware of for those players who are familiar with other betting lines such as the point spread, there’s no way of playing the moneyline with a point spread.
Some of the best odds of moneyline betting can be found at these major sportsbooks:
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This is the most straightforward part of this betting guide. The two different sides of the moneyline wager are fundamentally the opposite of one another.
When wagering on the favorite it’s easiest to work from the dollar amount that the bet will payout. But wagering on the underdog makes it easier to understand how the moneyline pays based on how much a $100 wager will pay.
For those that are still wondering what does a moneyline means in betting, we must direct you to the previous section of this guide. Moneyline betting isn’t simple, but it’s far from complicated. While the calculations are simple now, it can be difficult to make the calculations on the spot. But, with practice, it’ll become easier.
Moneyline are some of the most common and competitive betting lines, so it’s worth shopping around the various sportsbooks to find which one is offering the best odds.
As seen above, lines and odds may be different at various sportsbooks so consider this just an example of point spread line and a moneyline.
Often known as accumulators, parlay betting is growing in popularity in the betting industry and not just for mainstream sports. A parlay is a single wager that consists of multiple results. Obviously the more options mean the higher risk the wager carries, with a much bigger payout. This high-risk high reward betting line is extremely popular, as the huge payout for underdog moneyline parlays is proving to be a huge success among bettors.
The perceived ease of winning by making a selection of multiple favorites is likely what is drawing in bettors. But it’s important to remember, wagering on one team to win isn’t easy let alone on multiple games.
The below bookies are parlay specialists:
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For our readers that have now finished the guide, they’ll be well informed about what a moneyline bet is and will be ready to start wagering. For those that qualify for this, we’d strongly advise taking a look at our list of recommended sportsbook providers.
The experts here at VegasBetting don’t miss a beat, as soon as the latest odds come in we are the first to post the odds online.
Martin Green is the most experienced Sportsbook reviewer at VegasBetting.com. He has been working with sports betting for over a decade and has seen which brands take care of their players. He likes fast payouts, high odds and clean website design. He always reviews sportsbooks on desktop and on mobile. He also writes about NFL, MLB and sometimes horse racing.