Moneyline betting is one of the simplest ways to place bets, making it perfect for beginners. If you’ve ever wondered how moneylines work, the concept is simple – just bet on which team or player will win.
Whether you’re backing a favorite or taking a chance on an underdog, understanding moneyline odds is key to success. This guide will break down the basics, explain the odds, and help you place more informed bets. We’ll even give you some real world examples of how this bet works in different sports markets. So get ready!
In online betting, the moneyline refers to one of the simplest and easiest to understand bets. It involves placing a bet on which team or player will win a game or match. Unlike point spreads, where you consider margins of victory, a moneyline bet simply requires you to pick the winner. Furthermore, moneyline odds are typically displayed as positive (+) and negative (-) numbers.
Here’s an explanation and example of how you can read moneyline odds:
When placing a moneyline bet, one of the most important concepts to grasp is implied probability. This is a way of translating moneyline odds into the likelihood of an outcome happening, based on the odds set by the bookmaker. Understanding implied probability helps you assess whether a bet offers significant value or not.
Implied probability can be calculated using the following formulas for positive and negative odds:
By understanding implied probability, you can better evaluate whether a bet is worth making. If your research suggests a team has a higher chance of winning than the implied probability, you may have found value. On the other hand, if you believe a favorite is overestimated by the odds, it may be worth looking for a bet with better potential returns.
When you bet on FanDuel, BetMGM, bet365 or any other top sportsbook you’ll get access to a huge number of sports markets. From football to basketball, baseball, hockey and many more. Additionally, this will come with the ability to place moneyline bets on all of the top sports leagues, including NFL, NBA, NFI, MLB and others. Since moneyline betting is one of the simplest forms of betting, it’s easy to make the switch to different sports markets. But, here’s a table breaking down some examples of moneylines in different sports and key considerations to make:
| Sport | Example Odds & Bets | Unique Considerations |
|---|---|---|
| Football | Chiefs -150: Bet $150 on the Chiefs to win $100. Bears +200: Bet $100 on the Bears to win $200. | Overtime included in most moneylines. Upsets can offer value due to unpredictable NFL outcomes. |
| Basketball | Lakers -300: Bet $300 on the Lakers to win $100. Knicks +250: Bet $100 on the Knicks to win $250. | Higher-scoring games often lead to more predictable favorites, but underdog moneylines can offer big payouts. |
| Baseball | Yankees -120: Bet $120 on the Yankees to win $100. Red Sox +110: Bet $100 on the Red Sox to win $110. | Moneylines are heavily influenced by starting pitchers, with odds often shifting dramatically before the game. |
| Hockey | Avalanche -140: Bet $140 on the Avalanche to win $100. Maple Leafs +125: Bet $100 on the Maple Leafs to win $125. | Low-scoring games mean underdogs can frequently pull off wins, making hockey an attractive moneyline sport for value betting. |
| MMA/UFC | Jon Jones -200: Bet $200 on Jon Jones to win $100. Opponent +175: Bet $100 on his opponent to win $175. | Upsets are common, especially with unranked or underdog fighters. Draws are highly unlikely due to an odd number of rounds. |
| Soccer | Chelsea +150: Bet $100 on Chelsea to win $150. Draw +220: Bet $100 on a draw to win $220. Arsenal +200: Bet $100 on Arsenal to win $200. | Regular moneylines include a draw option, allowing you to choose between a match winner and a draw. |
You can read every possible guide to sports betting, but if numbers aren’t your forte then it might be difficult for you to visualize the potential payouts from betting odds. That’s where a moneyline betting calculator can come in handy. The tool is designed to help bettors calculate potential profits from moneyline bets. It takes the odds in positive or negative format and the amount you plan to wager, then calculates how much you stand to win or lose if your bet is successful.
The main benefit of these tools is to simplify the process, so you don't have to manually calculate your returns and odds. Simply open up the calculator, input the odds and your stake then see the potential payout. If the bet seems worthwhile, then go ahead and place your bet. If the math doesn’t look as appealing as you first thought, then you can move onto another potential bet.
Moneyline betting offers one of the simplest ways to wager on sports, but to be successful, you need more than just correct picks. It’s about understanding value, analyzing matchups, and making informed decisions. Whether you're betting on a favorite or an underdog, here are five strategies that can help you make smarter moneyline bets:
Underdogs can offer huge payouts, but not all underdogs are worth betting on. Look for situations where the odds don't reflect the true potential of the underdog. Factors like injuries, recent form, or mismatches in styles can sometimes make an underdog more competitive than the odds suggest. A careful evaluation of these factors might reveal value in a seemingly unlikely winner.
Every moneyline bet comes with implied probabilities, which show how likely a bookmaker thinks a team is to win. Earlier in this how moneylines work guide we demonstrated how these probabilities are calculated. So, understanding these odds allows you to gauge whether you're getting value for your bet or if the bookmaker’s assessment is too optimistic or pessimistic.
It’s easy to get emotionally attached to your favorite team or player, but this can cloud your judgment. Always place bets based on research and analysis, not fandom. Overestimating the ability of your favorite team can lead to poor betting decisions that you might not have usually made.
Certain sports, like MMA or boxing, have a higher level of unpredictability and variance, meaning anything can happen in a fight. Moneyline bets in these events may seem appealing, but the odds rarely reflect how volatile the outcome is. Stick to sports with more consistent outcomes, like basketball or baseball- unless you prefer the unpredictability.
Pay attention to a team's recent form, as it can drastically affect their chances of winning, regardless of historical records. Key injuries, player suspensions, or even changes in coaching can make or break a game. This kind of data often isn't fully reflected in the odds, giving you an edge if you can spot trends before the market adjusts.
So that's a wrap for this how moneylines work guide. To summarize, this betting type is one of the simplest for new players to learn, and if you’re new to sports betting it would make the perfect betting type to start with. Even for experienced bettors, this bet is great, as it works on any sport and there’s no margins or point spread to worry about. Just simple sports betting as it should be! All you need to do now is to find a sportsbook to start placing moneyline bets at. Give some of our sports betting site reviews a look over, you’ll easily be able to find a top-rated site with a generous welcome package to get started.
A moneyline bet is a wager on which team or player will win an event. Furthermore, the odds directly reflect the perceived probability of the outcome and determine how much you win relative to your bet. Negative odds represent favorites, while positive odds represent underdogs.
Yes, just about every available sport market accepts moneyline bets, including football, basketball, baseball, hockey, soccer, boxing, and even niche sports like MMA and esports. The structure of the bet remains the same, simply bet on the winner with odds reflecting the likelihood of victory.
There are plenty of alternatives to moneyline betting including futures, over/under bets, parlays, point spreads and many more. My personal favorite is over/under betting, you can check out our ‘What is over/under in betting‘ guide here.
