What Does Moneyline Mean In Sports Betting?
A moneyline bet stands out as the most straightforward wager in the realm of sports betting. This type of bet typically involves two or three
potential outcomes, contingent on the sport. When confronted with two players or teams in a moneyline bet, bettors make a selection on which player
or team they believe will emerge victorious.
In sports like soccer, boxing, or MMA, moneyline bets may introduce a third option: a “draw,” signifying a scenario where neither participant wins
nor loses.
Certain sportsbook apps present the draw as an alternative in moneyline bets, while others provide a “Draw no bet” option. In the latter, bettors can
choose only a winning player or team, excluding the possibility of a draw outcome.
Moneyline, easy wager!
In contrast to other bet types, such as point spread bets, parlays, or teasers, moneyline bets offer a straightforward approach: if you bet on the
winning side, you secure a payout.
While a spread bet necessitates a specific margin of victory, the margin becomes inconsequential in a conventional moneyline wager – if your chosen
side wins outright, you win the bet.
However, there’s a caveat: sportsbooks determine moneyline odds based on each team’s perceived likelihood of winning, even in matchups where the
sides are not evenly matched.
This can result in considerable pricing for a strong favorite or a substantial underdog, presenting a potentially substantial payout if the underdog
manages to upset the odds.
Due to their simplicity, moneyline bets are often favored by beginners, though seasoned bettors frequently engage in moneyline wagers as well.
Moneyline wager explained
When discussing Moneyline wagers, you’ll come across three key components: the favorite, the underdog, and the scenario known as “even” or “pick ’em.”
Favorite
The player or team viewed as more likely to win
Moneylines are typically shown in American odds and are based on a $100 wager. The odds listed next to a favorite show how much
you’d need to wager to win $100. For instance, let’s say a moneyline favorite appears as -180 on the betting board.
So, a bettor looking to win $100 will risk $180, while a bettor looking to win $50 would wager $90.
Remember the amount you wager remains with the sportsbook if your side loses, while a winning bet returns your winnings and
initial investment. In the case of the $180 wager to win $100, a winning bet would pay out $280, while an $18 bet at -180
moneyline odds would pay out $28 — $8 for winning the bet and $10 back for your initial investment.
Underdogs
The player or team considered less likely to win
Underdogs are always listed with a plus sign next to their odds, which indicates how much money you’d win on a $100 wager.
For example, let’s say an underdog in a baseball game is listed at +140. If you bet $100 on that team to win, you’d get back $240
if that team wins outright.While an underdog with higher odds is typically more risky to win, it can also return a greater
potential payout.For instance, let’s say an athlete in boxing is listed as a +600 underdog. If you wager $100 on that underdog
boxer and they pull off the upset, you’d collect $700 (your initial $100 bet, plus $600 in winnings).
What if you want to bet on that boxer at those same +600 odds and hope to win $100? You would wager $16.67, which has an actual
payout of $100.02.
Pick ’em
When two teams are so close in terms of level of play
An ‘even’ or ‘pick ’em’ game occurs when two teams are so close in terms of level of play that the sportsbook decides to price
them as equally likely to win or lose. In such a case, bettors would receive the same amount of money for a successful wager on
either side.
In this instance, bettors would win $100 on a $100 wager, thus totaling a $200 payout. An even or pick ‘em game will usually have
the word ‘even’ (EV) or ‘pick ‘em’ (PK) listed on the moneyline. It will be represented by the equal wager amount (+100), or a
combination of the terms such as (Even +100). A winning even or pick ‘em play by a bettor will pay out the same amount wagered..
Here are a couple of examples of how you can find the moneyline wager in a book:
Types of outcomes on a moneyline bet
The three types of outcomes on a moneyline bet; your wager will almost always fall into one of these three resulting outcomes: a win, a loss, or a
draw/draw no bet.
Win
Bettors will win their bet when they correctly choose the winning player/team or a draw if it is specifically
offered as a potential outcome. The draw is typically offered as an option in a soccer match or a boxing/MMA match.
Loss
Bettors will lose their wager when they do not successfully choose the winning player or team. Bettors will
also lose if they did not select ‘draw’ in a game or fight that ends with such an outcome.
“Draw”
A Draw or “Draw no bet” occurs when a draw is not offered as an outcome on a moneyline bet when that outcome
can potentially take place. This mostly happens in soccer/European football matches when a moneyline bet only offers the option
for either team to win.
When a draw takes place with this type of wager, bettors will have their full stake returned, as if their bet ended in a ‘push.’ If a draw is offered
as an option on a moneyline bet, however, the only way bettors win their wager is if they selected a draw as the outcome. Otherwise, bettors will lose
that wager.
(Note: In the case that you used a promotional “risk-free bet”, the outcome is a bit different.)
Moneyline and live betting
Live betting has gained widespread popularity with advancements in technology. The enhanced speed of bookmakers’ technology enables them to swiftly and
efficiently post in-game lines. This technological improvement provides bettors with more opportunities to identify value, arbitrage, and middling
possibilities, topics we can explore in future posts.
Typically, sports betting sites post in-game lines during breaks in the action, often incorporating a moneyline among the markets.
Live betting presents bettors with favorable opportunities, given that sportsbooks have limited time and information to establish a sharp line. To offset
this, they may incorporate more vigorish than usual in the lines. It’s crucial to be mindful of this when seeking value in live betting on the moneyline.
Should I Bet the Moneyline?
Generally speaking, the moneyline is a pretty good option for bettors who are betting with new sportsbooks. They are an intuitive and easy way to
understand the market for novices. If your selected team or athlete wins, you win. Betting doesn’t get any easier to understand than that.
Perhaps most importantly, the bookmaker typically takes a fairly low vig, as noted above. Betting into low-vig markets is a best practice for sports
bettors no matter whether they play for fun or for profit.
Second, it’s easy for bettors to figure out if a bet meets their value threshold. Simply convert the moneyline into the implied probability and use your
judgment about how that number relates to your own estimate.
Finally, betting the moneyline aligns the team or athlete’s interest with your own interest. A very common NFL scenario illustrates this best.