Moneyline Betting Fully Explained

Moneyline betting is the simplest and most common form of sports wagering. If you’re new to betting on sports, understanding moneyline odds is key.

Unlike point spread bets, where you bet on a team to win or lose by a certain margin, moneyline bets are straight wagers on who will win the game outright. It’s a simple concept, but moneyline odds can seem confusing at first.

This complete guide breaks down exactly how moneyline betting works, how to read moneyline odds and key tips to betting moneylines successfully.

How Moneyline Betting Works

A moneyline bet involves picking a team or player to win a game outright. If your selection wins, your bet pays out based on the odds set by the sportsbook. If your selection loses, your bet loses.

With moneyline betting at Nordic Bet, the actual score or margin of victory does not matter. All that matters is the binary outcome of who wins or loses the contest.

For example:

  • The Los Angeles Lakers play the Boston Celtics. You bet $100 on the Lakers to win at -200 odds.
  • The Lakers defeat the Celtics 112-107. Since the Lakers won the game, your bet wins and payout is $150 ($100 bet + $50 profit).
  • If the Celtics had won, your bet would lose and you would be out the $100 you wagered.

As you can see, the margin of victory in the game is irrelevant. Picking the winning team is all that matters.

This win-lose binary makes moneyline betting popular and easy to understand for beginners.

How to Read Moneyline Odds

Understanding how to read moneyline odds is critical for betting and handicapping games successfully.

Moneyline odds represent the payout you can expect from a winning bet. These odds also represent an implied probability of that outcome occurring.

Moneylines display a number with either a positive or negative sign in front of it for both teams and players. This number indicates how much you need to bet to win $100 profit and the implied probability of that team or player winning.

For example:

  • New York Yankees -150
  • Boston Red Sox +130

The negative number indicates the favorite. Odds with a minus (-) mean you must risk that amount to win $100. So the Yankees being -150 means you must bet $150 to profit $100.

The positive number indicates the underdog. Odds with a plus (+) mean you would profit that amount for a $100 bet. So the Red Sox at +130 odds means a $100 bet would payout $230 ($100 bet + $130 profit).

You can calculate the implied probability of each outcome by using the odds:

  • Yankees (favorite) odds -150
    • Risk $150 to win $100
    • $150/$250 = 60% implied probability
  • Red Sox (underdog) odds +130
    • Win $130 on $100 bet
    • $100/$230 = 43.5% implied probability

As you can see, the odds correlate to the chance of that team winning. The favorite has better than 50% probability, while the underdog has worse than 50% probability.

Moneyline Betting Tips and Strategy

Here are some key tips to betting moneylines successfully:

  • Shop for the best odds – Moneyline odds can vary significantly between sportsbooks. Make sure you have accounts at multiple books so you can compare odds and place your bets where you have the best payout. Just a few percentage points of difference in the odds can make a big long term impact on your bottom line.
  • Understand implied probability – Knowing how to translate moneyline odds into implied win probability is important for assessing value. You can determine if the posted odds accurately reflect your prediction of each team’s chances.
  • Bet underdogs when you see value – Sometimes long shot teams and players have much better chances to win than what the moneyline odds imply. This is where the best betting value occurs. Be ready to pounce when you notice outliers.
  • Don’t chase losses – Never try to make up for previous losses by over-betting or throwing good money after bad on low percentage wagers. Have a bankroll and stick to fixed percentage bet sizing for money management.
  • Use data to make picks – Rely on stats and trends rather than emotions or biases when handicapping games. Objective data analysis will lead you to more accurate predictions.

Examples of Moneyline Bets in Different Sports

Moneyline betting is available across many sports. While the concept remains the same, the odds format changes a bit across each sport.

NBA Basketball

  • Los Angeles Lakers -250
  • Brooklyn Nets +195

A $250 bet on the favored Lakers would profit $100. A $100 bet on the underdog Nets would profit $195.

NFL Football

  • Kansas City Chiefs -205
  • Cincinnati Bengals +175

A $205 wager on the favorite Chiefs would return $100 profit if they win the game outright. The underdog Bengals would pay out $275 profit on a $100 bet if they win.

UFC MMA

  • Israel Adesanya -300
  • Jared Cannonier +220

Betting $300 on Adesanya at his moneyline odds would net $100 profit with a win. A bettor would net $320 profit on a $100 wager if long shot Cannonier gets the upset victory.

MLB Baseball

 

Team Pitcher Moneyline
New York Yankees Gerrit Cole -175
Boston Red Sox Chris Sale +150

In baseball, both the starting pitchers influence the moneyline odds. A $175 bet on Cole and the Yankees would profit $100. A $100 bet on Sale and the Red Sox would profit $150 if they pull off the upset.

Conclusion

Moneyline betting offers excitement through simply picking a team or player to win a game outright. By understanding how to read the odds, interpret implied probability and use key strategy tips, new bettors can wager moneylines successfully across any sport.

The ability to profit on upsets or leverage a strong favorite provides value not found in point spread betting. Learning to bet moneylines opens up profitable possibilities across all sports leagues and matches.