Moneyline betting, though straightforward at its core, holds nuances that both novices and seasoned bettors can benefit from understanding deeply.
Whether you’re hearing about Moneyline bets for the first time or looking to refine your approach, you’re in the right place.
Did you know the moneyline is officially the most popular bet in the world? If you want to dig in and find out why – keep reading. And if you are looking for the top bookie, Bovada is our leader today.
What Is A Moneyline Bet?
How Money Line Bets Work:
A Moneyline bet is one of the most straightforward wagers in sports betting. Instead of betting on a team to cover a point spread or over/under total, you’re simply choosing which team or athlete will win the game or event outright. Your potential profit is determined by the odds set by the bookmakers.
How to Read a Moneyline:
Moneyline odds can be displayed in various formats, but in the US, they are usually shown in positive or negative values. A positive number (e.g., +200) indicates how much profit you’d make on a $100 bet, implying the team is an underdog. A negative number (e.g., -150) shows how much you need to stake to make $100, indicating that the team is the favorite.
Advantages of Money Line Betting:
Simplicity: For beginners, Moneyline bets are easy to understand as you’re simply picking a winner. Why over complicate stuff?
Good for Underdog Bets: If you have a strong hunch about an underdog, the moneyline can offer substantial returns. The Patriots were +1100 on the moneyline at most bookmakers when they were down 28-3 in that Super Bowl. That means if you’d wagered $10 you’d have won $100 by the game’s end. You may have also been placed under arrest by the time police for breaking galaxy laws by predicting the future.
No Concern About Point Spreads: You don’t have to worry about how much a team will win or lose, just that they do. This can be especially calming when betting against the Raiders, which is always a forgone conclusion.
Disadvantages of Money Line Betting:
Smaller Returns on Favorites: Betting on heavy favorites won’t yield much profit unless you stake a larger amount. Sometimes, it’s not even worth it.
Potential for Bigger Losses: Betting on underdogs might have bigger payouts, but the risk of loss is also higher. We recommend smaller stakes if your risk appetite is into that sort of thing.
Not Always Available: Some events might not offer Moneyline bets if the outcome is too predictable.
By understanding the ins and outs of Moneyline betting, you can decide when it’s the right type of bet for you and when you might be better served exploring other wagering options.
Different Types of Moneyline Odds
Often referred to as “moneyline odds,” American odds are prevalent in the United States. These odds are typically expressed with a plus (+) or minus (-) sign. The favorite will have a negative number, indicating how much you need to bet to win $100. On the other hand, the underdog will have a positive number, indicating how much you can win on a $100 bet. For example, if a team has odds of -150, you need to bet $150 to win $100. Conversely, if a team has odds of +200, a $100 bet could win you $200.
Popular in Europe, Canada, and Australia, decimal odds represent the amount you stand to win for every $1 you bet, including the return of your stake. To calculate potential profit, you multiply your stake by the decimal odds. For instance, odds of 2.50 mean you’d win $2.50 for every $1 staked (or $250 on a $100 bet, which includes your $100 back and a profit of $150).
Widely used in the UK and Ireland, fractional odds show your potential profit as a fraction. The number on the left denotes how much you can win, and the number on the right represents your stake. For example, 5/1 odds (read as “five-to-one”) mean you can win $5 for every $1 you bet. Conversely, 1/5 odds imply you’d win $1 for every $5 wagered. This is probably the superior system, similar to the metric one – sorry, not sorry.
Understanding the nuances of these three types of odds is essential, as they dictate how much you can potentially win. They all serve the same purpose—indicating your potential returns—but are presented in different formats. Everyone has their preferences, but fractional is definitely the way forward, folks.
How Money Lines Are Set And What Causes Them To Move
How Lines Are Set:
Sportsbooks employ oddsmakers, professionals who are tasked with setting the initial money lines for games. These oddsmakers analyze various elements like team performance, player injuries, head-to-head statistics, location of the game, and more. The goal is to set a money line that encourages balanced betting action on both sides. A balanced book ensures that the sportsbook stands to pay out roughly the same amount of money no matter which side wins, thereby profiting from the vig or juice. Just remember, oddsmakers are human too, and they’re fallible – so there’s always room for potential value.
Why Lines Move:
After the initial money lines are set, they’re not fixed in stone. They can move, and these movements can be caused by various factors. The primary objective remains the same: to balance the betting action and ensure profitability for the sportsbook.
‘Smart money’ refers to bets made by experienced, knowledgeable bettors are betting syndicates. These seasoned gamblers can often spot value or have insights that most of the public doesn’t. When they place substantial wagers, sportsbooks may move the lines to reflect this action, recognizing the informed nature of such bets.
Money lines can also shift in response to new information that wasn’t available when the initial lines were set. This might include unexpected player injuries, changes in player status (like a sudden trade or a benching), weather conditions for outdoor sports, or other relevant news. Such information can significantly impact a team’s perceived chances of winning, resulting in lines needing to be adjusted.
The general betting public can also influence line movements. If a vast majority of bets are coming in for one team, the sportsbook may move the line to encourage betting on the other team. This isn’t necessarily because the public has inside knowledge, but more so to balance the book and guard against potential losses.
Moneyline Betting Strategies
Although the money line bet is fundamentally simple, there is still such a thing as a moneyline betting strategy. Below, we delve into some of the best tips and advice available for those sports bettors amongst you who choose to bet moneyline wager.
Understand the Value:
Betting isn’t just about picking winners; it’s about finding value. If a team is heavily favored, the potential returns with money line odds might be minimal. Conversely, underdogs offer higher returns, but the risks are greater. Evaluate if the odds accurately represent the team’s chance of winning.
Research is Essential:
Before placing a bet, make sure to do thorough research. Look at head-to-head stats, recent form, injuries, and other relevant factors that could influence the game’s outcome.
Don’t Always Bet on the Favorite:
Not to state the obvious here, but the favorite doesn’t always win. Upsets happen frequently in sports, that’s the beauty of it. While betting on the underdog might be riskier, it can offer a higher potential payout. Consider opportunities where the underdog has a reasonable chance to upset the favorite, but recognize that those opportunities are rare.
Manage Your Bankroll:
Effective bankroll management is crucial for long-term betting success. Determine beforehand how much you’re willing to wager and stick to that amount. We advise never to bet more than 2-5% of your total bankroll on a single wager. This may otherwise be known as ‘betting smart’.
Monitor Line Movements:
If the money line moves significantly after it’s first released, try to understand why. Is it due to public betting, smart money, or new information? This can give insights into where value might lie.
Look Beyond the Mainstream:
While major leagues and events get the most attention, sometimes value can be found in lesser-known leagues or sports. Often, sportsbooks have less information on these, which might result in more favorable odds. For example, if you know your local minor league team is fielding a weakened squad that isn’t reflected in their online odds – jump on that opportunity.
Bet with a Clear Mind:
Never bet when emotional, upset, or intoxicated. Emotional decision-making can lead to poor choices and losses. Always bet with a clear mind and a focused approach. If ever you feel like that’s going out the window – just walk away.
Diversify Your Bets:
Don’t put all your money on one outcome or one type of bet. Diversifying can help manage risk. Mix up your bets between favorites and underdogs, and consider other types of bets beyond the money line.
Track all your bets, wins, and losses. This not only helps in managing your bankroll but can also highlight patterns. Maybe you’re particularly good at picking underdog winners in a specific sport, or perhaps you tend to lose when betting on certain teams. Knowledge of these patterns can guide and mold future betting strategies for the better.
Sports is an ever-evolving domain. Player transfers, injuries, team strategies, and even off-field incidents can influence game outcomes. Being updated on relevant news can provide an edge in money line betting.
Open Accounts at Multiple Sportsbooks
There’s really no reason why you shouldn’t be opening accounts at multiple sportsbooks, not least to take advantage of line shopping and stellar bonuses on offer.
As we just mentioned, use bonuses wherever possible. After all, playing with house money is better than playing with yours, and winning with it is even sweeter.
Best Sites for Moneyline Betting
- Bovada: Best overall
- BetOnline: Excellent odds
- BUSR: Variety of betting markets
- MyBookie: Fastest banking
- Everygame: Generous bonuses
- XBet: User-friendly bookie
- ThunderPick: Reputable brand
- MyStake: Mobile compatible platform
- BetUS: Features BetUS TV for live streams
- Sportsbetting.ag: 24/7 customer support
Next up, we’re going to write a mini-review of our top 5 sportsbooks for moneyline betting.
1. Bovada – Best Bookie for Moneyline Bets Overall
- $750 welcome bonus
- Wide range of markets
- Competitive odds
- Quick payouts
- Dual lines for sharp bettors
- Late lines impacts value
Sportsbook Features 5/5
Bovada offers betting opportunities on a vast array of sports from around the globe. Whether you’re interested in the big boys like the NFL, NBA, or MLB, or or more niche and international choices such as soccer, rugby, or cricket. Whether you opt for the straightforward money line bets, or the more complex point spreads, over/unders, futures betting online, and props, Bovada offers a comprehensive array of wagering opportunities.
Bonuses and Promotions 5/5
Sports Welcome Bonus $250/$750
$750 Sports Welcome Bonus: Get a 50% match bonus up to $250 on first deposit, alternatively get 75% match bonus up to $750 on first deposit if you use cryptocurrency.
Beyond the standard credit card options, Bovada is also one of the sportsbooks that accepts Bitcoin, ensuring faster deposits and withdrawals and added security. This also offers enhanced bonuses with certain terms and conditions.
2. BetOnline – Most Competitive Odds for Moneyline Bets
- $1000 welcome bonus
- Risk-free bets
- 25+ years online
- In-depth markets
- Geo restrictive
- Fees for certain payment methods
Sportsbook Features 5/5
BetOnline provides bettors with a plethora of sports to choose from. Whether it’s North American favorites like the NHL, NFL, and MLB, or international sensations such as tennis, Formula 1, or darts, there’s a buffet of sports betting for players to feast on. Not to mention a multitude of betting options, from money line bets to parlays, teasers, and props.
Bonuses and Promotions 5/5
50% Welcome Bonus:
BetOnline’s 50% welcome bonus matches your deposit up to $1000. It has a 10x wagering requirement and is restricted to usage with only certain payment methods. Unfortunately, Skrill and Neteller users are out of luck.
BetOnline places a premium on user security. With state-of-the-art encryption methods in place, players can rest assured that their data and monetary transactions are safe. It also features a 24/7 support system, ensuring that any issues or inquiries are addressed efficiently.
3. BUSR – Best Variety of Markets for Moneyline Betting
- Premier horse racing betting destination
- $2500 welcome bonus
- 10+ years experience
- Fresh re-design
- High wagering requirements
- Live betting needs tweaking
Sportsbook Features 5/5
BUSR boasts the standard money line bets, which are expertly presented for newcomers, as well as a whole host of other betting opportunities. These include over/under, point spreads, and exciting prop bets that delve deep into game specifics. Another standout feature is its intuitive design; navigating through BUSR is a breeze, ensuring both novice and veteran bettors can place their wagers without any hitches.
Bonuses and Promotions 5/5
BUSR is welcoming to newcomers, which is showcased by their welcome promotion detailed below.
Newcomers can get matched bonus funds of up to $2500 using the special bonus code. You must make a minimum deposit of $100 to qualify, and wagering requirements are set at 20x.
BUSR offers a blend of traditional and contemporary payment solutions. From credit card payments to e-wallets and even cryptocurrencies, ensuring fast and secure deposits and withdrawals.
4. MyBookie – Fastest Payouts of all Moneyline Betting Sites
- Lowest wagering requirement
- Top VIP program
- Regular competitions
- Diverse bonuses
- Dated design
- No phone support
Sportsbook Features 4.5/5
MyBookie is a hub for both popular and lesser-known sports. It covers major leagues such as MLB, NFL, and NBA while also providing odds for events in e-sports, darts, and even politics. This diverse setup extends to the site’s betting opportunities, from traditional moneyline bets to point spreads, futures, and intricate prop bets.
Bonuses and Promotions 5/5
MyBookie offers two excellent welcome promotions, offering an excellent choice to bettors with different goals in mind.
$500 Match: 50% of your first deposit up to $500, plus a $10 Casino Chip.
$200 Match: This is a 10% match that comes with a 1x wagering requirement.
MyBookie’s commitment to player safety is evident. Their use of advanced SSL encryption technology guarantees the protection of user data and financial transactions. Plus, for those keen on refining their betting strategies or understanding bet types like money line in-depth, MyBookie offers articles, tutorials, and guides.
5. Everygame – Best Bonuses for Moneyline Betting Online
- $1000 sign-up bonus
- Unique NHL and NFL promotions
- Big money competitions
- Free NFL bets
- Geo restrictive
- Small number of payment methods
Sportsbook Features 4.5/5
Everygame, while not as globally renowned as some competitors, offers a diverse range of sport all the same. From mainstream games like soccer, basketball, and tennis to niche sports, they ensure a broad spectrum of betting opportunities. They even offer some exclusive promos on favorites like the NFL.
Bonuses and Promotions 4.5/5
$500/$1000 Welcome Bonus:
The $1000 bonus is only available for those who are using cryptocurrency. Each bonus has wagering requirements of 10x, which is about the industry standard.
Everygame boasts dedicated customer service, available round the clock through multiple channels, ensuring users always have a helping hand.
Guide to Moneyline Betting FAQs
What’s The Most Valuable Online Bet?
What constitutes value in a bet is a matter of perception and not a concept engraved in stone. The moneyline bet can offer excellent value, especially if you’re betting on the underdog. If you’re going for the favorite – not so much.
How Often Do Moneyline Odds Change?
Moneyline odds can change frequently, but it all depends on the length of time measured. For futures bets that are taking place at a much later date, you may find them changing often right up until the day they take place.
What’s Better, a Money line Bet or Point Spread Bets?
Once again, this is a matter of preference and not wisdom. Some bettors may prefer the money line if they have a hunch the underdog is going to win, while the spread betting is favored for those who are looking for increased value in the favorite.
Ready To Make Some Moneyline Bets?
Whether you’re drawn to the simplicity of picking outright winners or the thrill of deciphering fluctuating odds, money line betting offers a blend of both strategy and excitement.
As always, responsible gambling is paramount, and armed with the knowledge from this guide, you’re better prepared to make informed wagers.
As the sports world evolves, so will betting techniques, but money line bets will undoubtedly remain a timeless favorite among punters worldwide. Just remember our own timeless mantra – have fun, and gamble responsibly.
Before you leave: Over/Under betting guide
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