Moneyline Betting Guide

What does Moneyline Mean? An Updated Moneyline Betting Guide

What Is Moneyline Betting?

Moneyline betting is the simplest form of betting on sports. A Moneyline bet is on the straight-up outcome of a game. There are no points involved, only adjusted odds based on which team is the favorite to win. However, these odds are adjusted based on the point spread between the two teams playing. The favorite team will always have negative odds, while a team that is the underdog will have plus odds. Keep on reading this Moneyline Betting Guide.

Moneyline odds on games will have one of two types of odds. Those two odds are plus odds and negative odds. Plus odds show the amount of money you would win on a $100 bet. With negative odds, the number shown is the amount you would need to bet to win $100.

One of the most important questions with gambling is the legality of betting. Each state has its own rules on if sports betting is legal or not. But since the Supreme Court struck down a federal ban on single-game sports betting in 2018, states have been working on legalizing sports betting. If you live in a state where they have legalized sports betting, you can legally bet on any Moneyline bets that you want to.

Always check the laws of your state on gambling to make sure that they have legalized the use of online sports betting. Doing so will ensure that you aren’t breaking any state laws.

Why Would I Want To Bet On The Moneyline?

Moneyline betting has the lowest returns on favorites while having the best returns on an underdog. Moneyline betting is best used when you see an underdog has the best chance of winning. Another reason people would bet on a Moneyline is if they are unsure of which team would win using the point spread. This would give a smaller return over betting on the point spread but could be a less risky bet. In some cases, the odds on a point spread bet might be very close to the Moneyline. 

When this is the case, people might look into doing the Moneyline instead if they feel like they would lose if they give away points but aren’t confident enough to take the other team with the points. Even though the Moneyline may not pay out as much, it might lower the risk of the bet in some cases.

When Should I Bet On The Moneyline?

When looking at the Moneyline, you should look at the teams involved. Always take the time to research both teams. There are many things to look into between teams that can paint a picture of what could happen in the game. Some of the common things are if the two teams’ are rival teams, the players that might be missing in the game, which team is on a winning or losing streak, and the strength of the teams they faced in the past.

Underdog teams have the best payout when it comes to the Moneyline. But anyone that does sports betting can tell you the underdog rarely wins. But with the proper research, there is always the possibility of seeing which underdog can turn out into a big winner on the Moneyline.

The best example is the Tampa Bay Buccaneers vs. the Kansas City Chiefs in Super Bowl 55. Tampa Bay came into Super Bowl 55 as 3.5 point underdogs. If you had bet on Tampa Bay and taken the points, you needed to bet $115 to win $100. But, if you took the Moneyline, a $100 bet would have won $140. With anyone that knew anything about Brady and how he plays in the Super Bowl, they would have put their money on Tampa Bay and won the Moneyline bet.

Is Betting On The Moneyline Worth It?

People will always look at the rewards before the risk when placing a wager. Moneyline betting does have the potential of giving a nice payout. But in some cases, the Moneyline odds aren’t worth it with teams that are heavy favorites.

The Moneyline has the most reward with underdog teams that actually have a chance of winning. Moneyline odds for favorite teams don’t payout as well as a bet on the point spread of the game.

Are Moneyline Bets Only For Sports Games?

Moneyline bets aren’t just used on the sports games themselves. You can find Moneyline odds in futures betting, prop betting, and awards betting.

When it comes to these different betting options for a Moneyline bet, it will require a different strategy to employ. These betting options don’t feature just one team against another, but often one team against all other teams or one player, and if they can do whatever the prop bet indicates.

How Do The Moneyline Odds Work On A Prop Bet?

Prop bets are some of the most common side bets during a game. In some cases, a player is projected to reach a fixed goal on the prop bet. Oddsmakers will then adjust the odds based on the player’s likelihood of achieving that goal. The higher the probability of the player succeeding, the lower the odds.

Moneyline odds on prop bets will have one of three odds types. Those types of odds are plus odds, even odds, or negative odds. Even odds mean you will get the exact amount wagered on a winning bet. Plus odds imply you will get the amount shown on a $100 bet that wins. Negative odds will have the amount you need to bet to win $100.

How Do The Moneyline Odds Work On Futures Betting?

Futures betting is entirely different from all other types of betting with a Moneyline. With futures betting, you are betting on a future outcome, like who will win the Super Bowl or the World Series.

People can place these bets before the sporting season starts or during the sport’s season. Before the season starts, all teams have plus odds. The previous seasons’ champion will be the favor and have the lowest odds.

As the season goes on, the odds for teams will move based on the record of all the teams involved in the futures betting. Teams that can’t advance to the post-season are then eliminated from the betting pool. The Moneyline favors early betting on futures, but those odds can be risky to take. As the season goes on, the odds will shrink on teams with the highest likelihood of winning the championship in their sport.

How Do Moneyline Odds Work On Awards Betting?

Every sport has its own awards for players and coaches alike. The most common awards are the MVP, Rookie of the Year, and Coach of the Year awards. With these awards, there will be a pool of people eligible to win those awards.

When betting before the season starts, all people involved in the awards betting will have plus odds. But as the season progresses, those odds will change based on the likelihood of which person would win the award they are in the running for.

Is There Any Strategy That One Can Use When Betting On The Moneyline?

Yes, different strategies can be used while betting on the Moneyline. When it comes to a Moneyline involving two teams, the best thing you can do is research both teams. Look for players that are out for the game with both teams.

Look into the history of matchups between both teams and see if there is a trend of who is winning the most in those matchups. If the game is between two rival teams, see which team is fired up to win the rivalry game.

The record of both teams is also essential. Teams with a losing record are less likely to win, but they sometimes pull off an upset. It can be because a team started recently started winning after being on a losing streak. Something like that can help a team build momentum.

Another reason an underdog can win against a favorite is due to the strength of the teams that have been played.

Has the favorite only won against easy teams to beat? Has the underdog had to face tough opponents? Things like this are important factors in whether or not an underdog has a chance to win. Taking all things into account can give a better picture of whether an underdog would make for a good bet on the Moneyline.

Always look at the risk versus the reward along with all other factors. Sometimes when looking at all things as a whole, you can see something that oddsmakers might have missed. When you see this opportunity, you can have a chance to seize it with a wager on the underdog.

The best thing to look at before making a Moneyline bet is the point spread. Why is this important? It’s because, on average, teams that are underdogs by three points or less have the highest percentage chance of winning the Moneyline.

A study of NCAA football games that teams played between 1997 and 2020 showed that the underdog would win 47.5% of the time if the spread were only three points or less. If the spread were between 3.5-7 points, the underdog would only win 35.1% of the time. When accounting for all games, the underdog would only win 23.7% of the time regardless of the point spread.

Now let’s take a look at the data regarding the NFL. During the 2020 NFL season, the underdog won the Moneyline 32.9% of the time. That percentage is higher than the 23.7% overall win rate for college football teams that are the underdog. But there can also be other factors involved as well.

One important thing to note is if an underdog is playing at home. Teams with home-field advantage tend to get more favorable odds. They may still be underdogs, but playing at home might soften the point spread. But be aware of how a team plays at home. Some teams play better during away games as opposed to home games. That can be another factor to consider before betting on the Moneyline with a team.

From the 2017 to 2020 NFL season, the home team won 56.9% of the time. However, this number was hurt by games played without fans during the 2020 NFL season. But regardless, the home field can give an edge to a team, as crowd noise can affect the ability to hear play calls on the field.

Why Is It Important To Study Everything Before Betting On The Moneyline?

All this information, one can see that an underdog has the best chances on a Moneyline bet when they are underdogs by three points or less and when they are playing at home. As the point spread gets higher, the chances for an upset decrease. Oddsmakers don’t get things right all the time. Gamblers also don’t get things right all the time. But the stats may show patterns that a gambler can take advantage of.

With the careful study of all the things laid out, one can have a better chance of a successful Moneyline bet on an underdog. Always ask who’s playing and who’s out. Always look into the spread to see whether a Moneyline bet might have a good chance. Always look at where a team is playing and their record if the game is at home or if it is an away game.

Every detail is critical to betting success. The more information that you can gather before making a bet will help with making the correct wager on a team. Doing that research isn’t easy or fun, but it is something that professional gamblers do before they place any bets.

Because of that studying, professional gamblers can make a living off sports betting. The casual gambler may not want to put in the work required to increase the odds of a successful wager, but it is the best thing to do if you want to win money instead of losing it. Want to learn more about Moneyline odds? Follow us on Twitter

Moneyline Betting Guide FAQs

Moneyline betting is the simplest form of betting on sports. A Moneyline bet is on the straight-up outcome of a game. There are no points involved, only adjusted odds based on which team is the favorite to win.

One of the most important questions with gambling is the legality of betting. Each state has its own rules on if sports betting is legal or not.

Moneyline betting has the lowest returns on favorites while having the best returns on an underdog. Moneyline betting is best used when you see an underdog has the best chance of winning.

When looking at the Moneyline, you should look at the teams involved. Always take the time to research both teams. There are many things to look into between teams that can paint a picture of what could happen in the game.

People will always look at the rewards before the risk when placing a wager. Moneyline betting does have the potential of giving a nice payout. But in some cases, the Moneyline odds aren’t worth it with teams that are heavy favorites.