Moneyline Bets: A Comprehensive Guide
Bettors use the moneyline bet to wager on the winner of a sporting event. What does that mean? You can wager that the Tampa Buccaneers will win against the Philadelphia Eagles in the NFL. This type of betting is called the moneyline bet.
That means a punter can wager on a player or team to win a particular sporting event without worrying about complex betting formulas like spreads or totals. In this guide, we look at everything you should know about betting on moneyline. Let us dive right into it!
How to Place a Moneyline Bets
The first step is to know the techniques for interpreting odds systems. Next, you need to work out the implied possibility, and you can make your moneyline bet. It is worth mentioning that this betting option only allows you to bet on the winner of a sports event.
So, when you sign up at a bookmaker, look for the latest moneyline odds for your preferred game. Now, click on the moneyline number beside the team you believe will win the game. Your selection will move to a bet slip, and the next thing is to select the amount you want to bet.
The system will automatically calculate your potential winning payout after this, and that is all you need to do to complete your moneyline betting.
What are Moneyline American Odds?
American odds are the numbers appearing beside each team on the live moneyline. The bookmaker’s favorite team is the one with the negative sign (-) while the one with the positive sign (+) is the underdog.
The moneyline with the positive sign lets you know how much you will win for a successful 8,000 INR wager. On the other hand, the minus symbol with the odds shows the amount you have to bet to win 8,000 INR . Let us look at an example.
So, if you bet 8,000 INR on the Tampa Buccaneers winning a sporting event, you win 12,800 INR and get a payout of 21,000 INR if your bet wins. That is the total of your wagered amount and the winning.
However, if you bet on the Philadelphia Eagles at -180 odds, it means you must wager 15,000 INR on the team to win to receive a possible winning of 8,000 INR . Your total payout will be 25,000 INR, which is a total of your wagered amount and the winning.
It is worth mentioning that you may see both opponents having two negative figures on moneyline betting. For this, the team with the highest negative is the favorite, and the one with the lowest is the underdog.
What Sports are Popular for Moneyline Bets?
Moneyline odds are available for most sports, including the less-common markets, such as politics. However, the popular moneyline bets you will find are on games for NFL, NBA, UFC, NHL, and MLB.
Line Movements and Opening/Closing Odds
What does this mean? Online bookmakers often alter their moneyline odds when a team gets more activities from punters, and these changes impact the possible bet returns. For instance, a team may begin at -125 favorites, but if more people bet on moneyline on the team, the bookie can change the odds to -150.
Bookmakers do this to protect their financial interests. Note that your wager will correspond with the given fixed odds when you place it.
What Other Odds Systems Should You Know?
Note that online bookmakers often show the moneyline bets using varying odds systems. However, the moneyline always means the same thing, irrespective of the odds revealed. Moneyline bets refer to wagering on the winner of a sporting event.
Factors to Consider before Wagering on the Moneyline
Before you put your money on the line, ensure you keep some points in mind. This is especially important when looking at moneyline odds at bookies.
- Do not restrict yourself. Shop around because moneyline odds often vary from one bookmaker to the other. It is best to register with two or three betting sites to enable you to switch your bets at will depending on where you find your favorite odds.
- Do not bet more than you can afford to lose. Even with the best analysis, lots of things can affect the outcome of a match. That means you may end up losing a bet even if everything points to your winning from the onset. Therefore, make sure your bet money can afford to lose any time to place a bet.
- Evaluate the options available to you. It is best to understand the different bets available before betting.
