It is essential for betting newbies and veterans to understand the terminology used within the betting world, the markets available to you, and the types of bets that can be placed.
Below, we have created another insightful sport betting how-to guide, offering you a comprehensive look into money line betting. We answer the big questions surrounding the money line, including, how does money line work? What does money line mean in football? As well as discussing which methods can be helpful when placing a wager within the sports betting world.
What is a money line bet? The winner takes it all!
The money line bet is the most straightforward wager to place. Depending on the sport, Bettors will
place a bet
on who they believe will be victorious at the final whistle or if it will end in a draw.
Money line sports betting will appeal to bettors familiar with their chosen market, as they will be able to quickly distinguish, and confirm, who/which team will be classed as the favorite and who will be viewed as the underdog.
As the name suggests, the favorite is the individual/team that is considered to be the
most likely
to win. For those of you who are new to sports Money line markets, you will see odds for the favorite accompanied by a minus sign, e.g.,
Chicago Bears -150
The underdog refers to the individual/team that is viewed as
less likely
to win. In comparison to the favorite, the underdog of your chosen fixture is represented by a plus sign, e.g.,
Cincinnati Bengals +200
Sport is unpredictable – that’s the beauty of it. However, when it comes to betting on your chosen sport (and your money associated with it!), we want a little predictability or at least some insurance. Thankfully, with
some
sportsbooks, you will be given the option to place a Money line with a
draw no bet
condition attached to it.
The draw no bet option will be offered to any fixture that does not offer a draw as a wagering option. A good example of this would be in soccer or NFL, where a betting site only provides options for an outright winner. If the final score is a tie, bettors will have their full stake returned.
Of course, if your platform does offer a draw as a wagering option, the only way you can win on a Money line bet is by selecting the correct match outcome.
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Understanding your money line odds – Calculate your potential profits!
Following on from the brief money line bet NFL examples mentioned above, we look to give you a full explanation of how Money line betting odds work and how best to calculate your Money line returns.
Money line odds are often referred to as American odds and are created by extensive research into many differing factors, including form, popularity, injury, referees, rivalries, and much more. The odds fall under three categories:
Negative Odds
Negative odds denote favored teams and are a preferred choice for betting beginners to introduce themselves to the sports betting world. As expected, the negative odds showcase a
high chance
of winning for a
lower overall profit. When trying to calculate your potential profit, the calculation you need to use is (100/Odds) x Bet Size.
If we use a $100 bet on the below example:
San Francisco 49ers – 250
vs
Detroit Lions – 300
We can clearly see the 49ers are the favorites, meaning our returns off of $100 would be (100/250) x 100 = $40 + our original stake.
Positive Odds
Positive odds hold a higher reward for a lower stake but come with a larger risk as you will be betting on the
underdog.
When trying to calculate your profit off of a positive odds wager, the calculation you need to follow is (Odds/100) x Bet Size.
This time, if we place a $100 bet on the
Lions, the potential profit would be (300/100) x 100 = $300 + the original stake.
Money line strategy – How to bet using money line wagers
The simplicity of Money line wagers allows for bets to be placed at various points of a match, as well as featuring as part of larger parlays.
Pre-Match Selection
The most utilized style of money line bets comprises of a pre-match selection of an outright winner.
This type of money line wager is usually planned in advance, with some sporting research completed beforehand to confirm your selection. For example, reviewing the current league table position, injuries, and current form of Philadelphia Union before they take on Orlando City in their Eastern Conference clash.
Once you are happy with your selection, simply select who you believe the outright winner will be, place your stake and sit back and enjoy the action!
In-Play Betting
If your chosen fixture is a little too close to call before kick-off, and your sportsbook offers a live streaming service or live data, you can always watch the match develop before placing a money line.
With close match-ups, it can often be a case of “who shows up on the day.” By watching the first quarter, 20 minutes or half of a match, you may have a better picture as to how your chosen money line will pan out and place your bet accordingly.
The only thing we will mention is that whilst you are watching the match develop and keeping track of the stats, the price and potential returns of your money line fixture will be changing accordingly, too – make sure you don’t miss the boat on this one and leave it too late!
Parlay
A riskier option when looking at money line betting; however, the rewards are far greater than any individual bet that you could place.
The parlay is a single wager consisting of multiple money line results. For example, when using the MLB as our main focus and selecting four outcomes (below), the returns would be far greater as a parlay than placing four individual wagers.
Individual odds for LA Dodgers -200, CHI White Sox – 120, CIN Reds – 130 & DET Tigers – 130 would create a four-part parlay with odds of +760.
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Things to consider before placing your Money line wager
Now we have covered exactly what a money line bet is, explained how the odds work and when best to place your money line bet; it is now time to highlight some key considerations before placing your money line single, in-play bet, or parlay.
Select the right sportsbook
Your betting platform will be the home of all things money line, so you want to ensure your platform is safe, secure, has plenty of markets, and offers quick withdrawal methods. Simple due diligence could save your blushes further down the line, and we always recommend reviewing the terms and conditions of your chosen platform before signing up.
Don’t be lured in by the first deposit-match bonus or lucrative sign-up bonus offers. Instead, consider the site’s usability, accessibility, and if your preferred markets are available.
Financial situation
Once you have chosen your platform, the next consideration revolves around your own financial situation. The sports betting world should be fun, interactive, and (hopefully) profitable. Unfortunately, it is far too easy to get enticed by promotions and bonus offers that require additional deposits and requirements to be met – potentially taking you over your weekly allowance. A great tip is to only bet what you can afford and consider placing a deposit limit on your account. This way, you will never find your betting having a negative impact on your finances.
Preferred sporting market
With your account loaded, your next consideration is your preferred sporting market. A great place to start is by choosing your preferred sport and reviewing the league they play in. For newbies, this is generally where you will have the greatest base knowledge, and you can soon expand from there.
For example, if you are a fan of Major League Soccer’s LA Galaxy, you may wish to look at their upcoming fixtures in the Western Conference. Slowly look to place wagers on teams from the same conference as your confidence and knowledge increase.
Log your results
For those of you who have been a part of the sports betting world for some time, you may have gained some valuable experience along the way. Why not log your own results? Keep track of what sports or leagues you are performing well in, and start to remove those you aren’t! We believe in learning from our mistakes and feel this runs true in the betting world too. You may even find that money line bets don’t work for you at all. If so, consider having a read of our guide on
spread betting.
Have Fun
Finally, make sure your betting experience is fun! Sports betting is a great way to add a little more excitement to a fixture, league, or competition, but it can soon turn sour if a few simple rules aren’t followed.
If you find yourself betting on obscure markets in the middle of the week, with little knowledge, research, or understanding of funds you may, or may not, currently have spare, it could be time to give yourself a break. Thankfully, most reputable betting sites offer ways to ensure your betting journey stays safe and fun, allowing users to place deposit limits, time outs or self-exclusion if needed.
Conclusion – Use our money line betting guide to your advantage
As our money line betting guide draws to its conclusion, we hope you have found some gems of knowledge that you can use in your own sports betting journey.
Before placing your money line wager, be sure to check the platform you are using is reputable, reliable, and licensed. Any problems surrounding account security are a big red flag, and we would instantly suggest finding a new site to place your money line bets.
If you plan on placing bets on the favorite, be aware that your returns will be significantly less than placing wagers on the underdog. One good way to combat this is by creating a parlay that features two or more favorites, as this can increase the odds significantly. The downside is the risk is also increased, as all fixtures will need to win in order to profit.
Lastly, keep on top of your betting habits. The sports betting world is full of excitement, but to ensure your betting career stays this way, keep your wagers within your limits and when the fun stops, consider giving yourself a time out.
What is a money line bet? FAQ
🌟 What markets can I place a money line bet on?
The money line bet is the simplest way for bettors to place a wager. Odds are split between a favorite and an underdog with you as the bettor deciding who is
most likely
to win the event. Sport is unpredictable, so ensure you look out for a money line market that offers the
draw no bet
option.
❓ What is a money line?
Before placing your wagers it is always worth reviewing the betting markets available to you. Does your sporting event have a clear outright winner? Is the match up destined for goals? Understanding the win likelihood of each participant is critical when placing your money line bet.
💰 Are money line bets profitable?
Before signing up to your chosen sportsbook it is worth reviewing the sign-up bonuses on offer. Utilizing a bonus or promotion alongside your money line can enhance your odds significantly. If no bonuses are available, consider placing a parlay wager – discussed in greater detail in our money lines guide.
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