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Moneyline bets/odds are the most popular types of bets available to sports bettors. Though they are simple, it’s still important to make sure that you fully understand what is the money line odds actually.
Moneyline betting is the most purest form of wagering. Your goal is to pick the correct outcome of the event. Certainly, moneyline betting is the most popular option for most of the world’s sports. Including baseball, hockey, soccer, boxing, and auto racing. But what is moneyline? Keep reading to know all about moneyline odds!
What is a Moneyline Bet?
A moneyline wager is a bet on the outcome of a game. There is no point spread or any other advantage to a particular side. You just pick the outright winner. Moneyline bets are places usually upon sports events. There are strategies that are known to be successful on moneyline bets. They are beyond just picking the team you expect to win.
Each team in a match-up for a moneyline betting option is given a separate numerical value for bettors to wager upon. These values are called “odds.” The numbers, or odds, are determined by odd-makers and sportsbooks based on how the two opponents compete. Each number is displayed with a minus sign (-) or a plus sign (+) in front of it.
Here is an example from an NFL game between the New England Patriots and Kansas City Chiefs. This is how moneyline odds will look like at an online sportsbook for this event:
|New England Patriots||-120|
|Kansas City Chiefs||+150|
In this moneyline bet, the Patriots are the favorites, which is displayed by the minus sign (-). The Chiefs are the underdog. It because of the plus sign (+). The favorites are determined by the minus (-) sign whereas the underdogs are displayed by the (+) sign. This is universal across all sportsbooks for American odds. Betting on the Chiefs is considered riskier but you get a bigger reward. Whereas, betting on the Patriots is less risky, which means it comes with a smaller reward.
How American (Moneyline) Odds Work
American odds (also known as moneyline odds or US odds) are popular in the United States. The odds for favorites are accompanied by a minus (-) sign, indicating the amount you need to stake to win $100. Whereas, the odds for underdogs are displayed by a positive (+) sign, indicating the amount won for every $100 staked. In both cases, you get your initial deposit back, in addition to the amount won. The difference between the odds for the favorite and the underdog widens as the probability of winning for the favorite increases.
How To Bet The Moneyline
The betting on the moneyline is simple and easy. You just pick the outright winner in an event or match. Typically, the goal is to place your bet on the site that gives you the best chance of winning. But also know that the right underdogs provide significant value.
Types of Moneyline Odds:
There are two kinds of moneyline odds that are most likely to be found on most sportsbetting sites. One is the two-way moneyline and the other is the three-way moneyline.
In a two-way moneyline, a bet is placed on one option. Its either on the favorite or the underdog. Moreover, if the event ends in a tie or a draw where neither betting option wins the event.
A three-way moneyline is almost the same as a two-way moneyline except that it also includes odds on a tie or draw as well. Bookmakers offer three-way moneyline odds on sports events where ties or draws are quite likely to occur, such as soccer or boxing. Thus, when the event ends up on a tie or draw, the wager who wages up the draw or tie wins the bet.
Different Moneyline Bet Formats
Technically, moneyline is a way to represent the odds/payouts for a win bet. We’d like to tell that the odds on each participant in a sporting event can be listed in one of three different moneyline formats.
Different parts of the globe just tend to choose one over the over. The US tends to favor the moneyline format while the rest of the world usually chooses between the decimal and fractional formats. Most online sportsbooks will give you the option of converting the betting odds into whichever format you prefer. There are three main odd formats. They are:
- Moneyline Odds: Displayed with a (+) or (-) sign
- Decimal Odds: Displayed in decimals
- Fractional Odds: Displayed in Fractions
Moneyline odds are available for every major sports event and are a great way to get into the sports betting action. Sportsbetting is one of the most interesting and exciting forms of online gambling. So what are you waiting for? Find the best online sportsbook bonuses on our deal finder page to know about the upcoming events, their deals, bonuses and promotions.