What Does Moneyline Mean in Betting?
Money line bets are the simplest bets you can enjoy with NJ sports betting. Whether it's NFL moneylines, or NBA moneylines, you're basically betting on one team to win the game. It doesn't matter how much Team A beats Team B with money line betting – it simply matters who wins the game.
Ready to give it a shot? Let’s get into the mechanics of money line betting explained in this comprehensive guide.
Look carefully at the (-) and (+) in moneyline betting to determine which team is the favorite and which team is the underdog. The (-) indicates the favorite team to win, and the (+) indicates the underdog, or the long shot. You can use moneyline betting in football, hockey and basketball.
As a novice sports bettor, you may be a little intimidated by the mechanics of moneyline betting. Moneylines go by several different names, including American odds, or money lines.
They differ from point spreads in many ways, notably that it doesn’t matter how big the margin of victory is – you simply bet on your preferred selection and you get paid out accordingly. In other words, pick a winner and you will receive the odds presented in the moneyline bets.
Money lines are used in a wide variety of sports contests, such as boxing matches, field hockey, and MLB games. Many of these games are low-scoring, but that’s not a prerequisite for moneyline betting.
Many bookmakers use a variety of numbers when posting odds for various sports. At first glance, this can be overwhelming. If you look at betting odds on hockey and baseball, you will likely see three-digit numbers preceded by a (+) or a (-). These are the money line odds on the respective sports.
Point spread betting requires a degree of arithmetic fluency, but moneyline bets are far easier to understand. You simply pick a team or an athlete that you think will win and you place your bets accordingly.
For the most part, hockey and baseball bets feature money lines as opposed to point spreads. If you’re betting on an NBA team – say the Charlotte Hornets, they may be favorites to win against the Miami Heat. In this case, you may see a Moneyline of -120 for the Hornets. This means that you need to bet $120 to win $100 on the team. Simple enough?
How to Convert Moneyline Betting Odds?
Moneyline odds are otherwise known as American odds. Sports bettors outside the US and Canada can have a tough time understanding money line odds. That's why we’re going to break it down for you with the money line explained.
To better understand money line betting odds, one has to convert them. Let's take a look at the (-) and (+) associated with money line odds. Every time you see a minus sign (-), it means that’s how much money you must bet in order to win $100 on this team.
An example will help clarify this:
In the above example, Team A is the underdog and Team B is the favorite. The -150 alongside Team B indicates that you will need to bet $150 in order to win $100. If Team B beats Team A, your $100 bet will pay (100/150) x $100 = $66.67 return + your original $100 bet. Now, let's take a look at Team A +130, to better understand the betting odds in this case.
The (+) is easy to understand since that's how much your $100 bet will pay if the bet wins. In this example, $100 bet on Team A pays $130. To calculate your return, simply use this formula (130/100) x Bet. If you bet $200 on Team B to beat Team A, the payout is as follows: (130/100) x $200 = $260 + your original $200 bet = $460 total.
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The probabilities of all money line odds can easily be calculated by understanding what the + and - numbers mean in percentage terms.
- Team A -> implied probability of winning 100/(130 +100) = 0.434
- Team B -> implied probability of winning (- (-150) / ((- (-150)) + 100) = 0.600
In percentage terms, simply multiply each of these implied probabilities of winning by 100 to get 43.4% for Team A, and 60% for Team B. Now, if we want to get decimal odds for these implied probabilities, simply perform the following functions:
- Team A – 100/43.4 = 2.30
- Team B – 100/60 = 1.67
That's how easy it is to convert moneyline betting odds. Ready to give it a go?
What Does Betting Fourth, Third, Second, First Quarter Money Line Betting Mean?
NFL lines betting is hugely popular. Every football game has four quarters. These include the following betting options:
- >4th Quarter Moneyline Bets – these bets are placed on the team to win the fourth quarter outright. The bets will be settled at the outright price, and your bet options include home, away, and draw.
- 3rd Quarter Moneyline Bets – these bets are placed on the team to win the third quarter outright. The bets will be settled at the outright price, and your bet options include home, away, and draw.
- 2nd Quarter Moneyline Bets – these bets are placed on the team to win the second quarter outright. The bets will be settled at the outright price, and your bet options include home, away, and draw.
- 1st Quarter Moneyline Bets - these bets are placed on the team to win the first quarter outright. The bets will be settled at the outright price, and your bet options include home, away, and draw.
NBA money line betting is equally popular. Basketball moneyline bets are possible on the 4th Quarter, 3rd Quarter, 2nd Quarter, and 1st Quarter.
With basketball money lines, you are predicting which team will win that particular quarter. Your options include home and away bets, and if a draw ensues, you will have your stakes refunded.
NHL bets include Puck Line Bets – these are similar to money lines – except that your chosen team needs to win/lose by at least 1.5 goals.
What Does The (+) Mean in Money Line Betting?
Recall earlier we spoke about the (+) and (-) associated with each team in a contest? Now, we're going to explain a little bit more about what the (+) means and how you can use it with money line betting.
Let's take the New England Patriots and the Miami Dolphins as an example of favorites and underdogs:
- New England Patriots -130
- Miami Dolphins +180
In this matchup, the Patriots are clearly the favourites to win as indicated by the (-), and the Miami Dolphins are the underdogs or the longshots to win as indicated by the (+).
In other words, the Miami Dolphins are actually expected to lose the game. The + and - indicate how much each of these money line bets is expected to pay out.
In the case of the Miami Dolphins, you will get a payout of $180 for every $100 that you bet on the team to win. If you bet $500 on the Miami Dolphins to beat the New England Patriots, and they go on to win the game, you will receive a payout of 1.8 X $500 + $500 = $1400 in total.
What Does Minus Sign (-) Mean in Moneyline Betting?
Of course, underdogs are long shots and unlikely to win. If you prefer betting on the favorite, then you are best served by selecting the team with the (-) in front of it. In the above example, the New England Patriots -130 are the favorites. The (-) is important in that it indicates how much you must bet in order to win $100.
Let's take a look at the odds for more information:
- New England Patriots -130
- Miami Dolphins +180
In this example, you must bet $130 to win $100 on the New England Patriots. If you want to bet $50 on this leading NFL team, your payout is calculated as follows: (100/130) X 50 = $38.46 + $50 original bet = $88.46. If you want to bet $200 on the New England Patriots, your payout is calculated as follows: (100/130) X 200 = $153.85 + $200 original bet = $353.85.
What is the Difference Between the Spread and the Moneyline in Betting?
Now that you have a grasp of the money line meaning, it's important to step up our game and understand what this spread is. Spread betting is popular with NFL bets and NBA bets.
Otherwise known as the point spread, spread betting by bookmakers (oddsmakers) give 50-50 chances to either side based on a handicap which is given to the underdog. With spread betting, the favorites will have points removed (-) and the underdogs will have points added (+) in order to even the playing fields.
Think of a matchup between the New England Patriots and the Miami Dolphins. Assuming that the New England Patriots are in superb form at the top of their division, it makes sense that the point spread would add a negative value to this team and the Miami Dolphins would have assistance in the form of a positive value added to their final score.
Let's take a spread of +6 through -6. The +6 is for the underdog and the -6 is for the favorite. At the end of the game when the scores are tallied, the New England Patriots must still be the winners when the point spread is taken into consideration. Assuming a total score of 20:10, the Patriots must remove 6 points from their score (20 - 6 = 14) and still be able to beat the Dolphins in order for that bet to win. In this case, the Patriots win.
However, if the final score is 14:10 to the Patriots, they may have won the game but they lose the point spread (14 - 6 = 8). So, the final score that looks like this: New England Patriots 8:10 Miami Dolphins!
That's the difference between the point spread and the money line in sports betting. The money line is a straight up bet on the favorite or the underdog and the +/- simply indicate how much you can win with a $100 bet, or how much you must wager in order to win $100.
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Are Moneyline Bets as Popular as Point Spreads?
Just in case you’re wondering why moneyline betting is not as popular as the point spread in NFL games and NBA games – consider the scores that typically result.
You may see a score of 65-43 in football, or 120-102 in basketball – these sports are suited to point spreads where totals (over/under) are much more apropos.
Here is an example of moneyline betting in the NBA. Our example features the Charlotte Hornets versus the Miami Heat. The odds posted here are for illustrative purposes:
- Charlotte Hornets -120
- Miami Heat +200
The Charlotte Hornets are favored to win against the Miami Heat. The negative number in front of the 120 indicates that you would need to bet $120 to win $100. By contrast, bets on the Miami Heat will pay $200 for every $100 wagered.
Clearly, Miami Heat are the underdogs. Be advised that the triple digits (represented in units of $100) in moneyline betting does not imply that you must bet $100 or more on these selections. You can bet $50 and still enjoy payouts with the same ratio. In other words, -120 means that you must bet 1.2 to win 1.
What Does Spread, Moneyline, and Total Mean?
In sports betting parlance, three of the most common terms you will hear include the following:
- 'Spread' -> Spread is the abbreviation for the point spread, or the line. These are the odds that determine which team is the favorite (-) and which team is the underdog (+). Additional points are given to the underdog and points are subtracted from the favorite. This levels the playing field and makes it enticing to bet on either option.
- 'Moneyline' -> A Moneyline is the easiest bet you can make at a bookmaker. It is a bet on which team you want to win the match. A moneyline favorite as indicated by the (-) and the underdog is indicated by the (+).
- 'Total' -> Total bets are known as over/under bets. It's a single bet on whether the total (total amount of points that are scored) of a single game will be over/under what the bookmakers set before the event starts. Once you place a total bet, the only concern is the combined score of both teams at the end of the match.
What is a 3-Way Moneyline?
A standard money line bet has two outcomes – Team A wins or Team B wins. We can illustrate 3-way moneyline bets with several sports including hockey and soccer. Let's take an example of UK soccer giants like Liverpool FC versus Manchester United.
Here's an example of what a 3-way moneyline bet would look like:
- Liverpool FC +150
- Draw +275
- Manchester United +190
You can clearly see the favorite because you get the lowest payout when you bet on them a.k.a. Liverpool +150. Manchester United are the underdogs at +190, and a draw pays $275 for every $100 bet. 3-way money line bets present sports bettors with much better odds than traditional money line bets because it's really difficult to forecast these types of outcomes.
How Do You Make Money Betting Money Line?
With moneylines, you are betting on a team to win. In a standard moneyline bet, you have the option to bet on Team A or Team B to win. The favorite is represented by the – sign and the underdog is represented by the +.
Let's go back to our example of the New England Patriots versus Miami Dolphins:
- New England Patriots -130
- Miami Dolphins +180
If you want to bet $250 on the New England Patriots to win, this is how you make money betting money lines:
$250 multiplied by (100/130) = $192.31 (payout from bet) + your original $250 bet = $442.31.
If you want to bet $250 on the Miami Dolphins to surprise the New England Patriots, this is how you make money betting moneylines:
$250 multiplied by (180/100) = $450 (payout from bet) + your original $250 bet = $700.
That's how you make money betting money lines on your favourite sports teams. Ready to give it a go? Claim your free bet no deposit on NFL sports games Now!
How to Calculate the Result in Moneyline Sports Betting if Scores are the Tied?
If a sports match in a standard money line bet ends in a draw and you haven't placed a 3-way moneyline bet, the bet typically results in a push. In this case, you would receive your money back.
However, if you placed a 3-way money line bet on a draw, the tie result would yield a payout. The other two bets would be losses. In soccer games, a tied result automatically eliminates the other bets.
NFL games do not allow for draws, except in the case of proposition bets, and a draw would result in a push. If you bet on the Patriots or the Dolphins, and they draw, you would receive all your money back. Believe it or not, there are dozens of high-profile drawn NFL games!
Which Sports Use Money Lines and are They Different?
When point spreads are irrelevant, bookmakers tend to prefer money lines. As mentioned earlier, hockey and baseball are particularly popular for moneyline betting. Other sports include soccer, IndyCar, NASCAR, Formula One, boxing, and tennis.
The reason point spreads don’t work as well in these contests is that the margin of victory is too narrow. The better option is a moneyline bet. It is interesting to point out that money line odds change, based on the likely outcome of a sports contest.
In baseball, you may see money lines used as follows:
- New York Yankees -110
- Chicago Cubs +120
In the above example, the New York Yankees are favored to beat the Chicago Cubs and you would have to bet $110 to win $100. If you decide to bet $100 on the Chicago Cubs, and they win, you will receive a total payout of $120.
Of course, you can bet any amount provided it meets the minimum bet requirement at the sportsbook.
You can also use money lines on boxing matches for example:
- Floyd Mayweather -600
- Tenshin Nasukawa +375
In this case, Mayweather is the favorite to win with the money line odds, and Nasukawa is the underdog. You would have to bet $600 to win $100 on Floyd Mayweather, and for every $100 bet on Tenshin Nasukawa you can win $375.
Now, let's take NHL moneyline betting examples into consideration:
- Blues -130
- Blackhawks +140
In the above example, the Blues are favorites to win. You need to bet $130 to win $100 on the Blues. With the Blackhawks, you can expect to win $100 with every $100 bet that you place. The Blackhawks are the underdogs.
Many different sports feature moneyline bets, including those which offer point spread betting options too. It is a good idea to run the numbers to determine which sports betting selection will give you the most favorable odds – moneyline (straight up wins) or point spread.
You may have heard the term 2-way money line before; this is the same as a straight up win, or a regular moneyline bet. If the money line bet results in a draw, the result is a push. Moneyline bets are possible in hockey, baseball, football, and basketball.
The most important things to remember with moneyline bets are the following:
- The (-) indicates how much you must wager to win $100 on the favorite.
- The (+) indicates how much you can win if you wager $100 on the underdog.
Picking the right moneyline bet is important, but sticking with a trusted online bookmaker is like jackpot gold. 888sport NJ offers the widest possible coverage of sports matches with live in-play betting at your fingertips.
Place moneyline bets and point spread bets at your leisure using all of these bet tips to make informed decisions. That's game, set, and match to you player!
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