When you visit a sportsbook, you will find that a moneyline bet is supported for every sport that is being played. This is a very simple bet that is placed and you will just have to determine the winner of a game or match.
If you bet on any team to win, you have just placed a moneyline bet. Some sites will refer to these wagers as Win bets, but they are both the same.
You will find that there are three different formatted that are used to present moneyline bets. These include moneyline, decimal, and fractional. These may look different, but they all serve the same purpose. Learn more about how to read odds.
These formats will provide information on the favorite and underdog along with the potential payout that can be earned.
Moneyline Favorites & Underdogs
When betting on moneylines, you will want to take into account the favorite and underdog for any game. Each sportsbook will assign a value to each contestant in a game or match based on who is the favorite and who is the underdog. This evens out the betting field. For example, let’s say a prized fighter is taking on an amateur. The moneyline for a prized fighter could be -1600 and for the amateur, +1800.
The first part of the line will state who is being bet on and you will then see a + or – sign. A plus sign indicates the underdog and a minus sign signifies the favorite. The number that follows the sign will tell you how much you can win if you bet correctly. Of course, this is slightly different with parlay bets.
It may take a few minutes to get used to how moneylines are displayed, but after some time, you’ll easily pick it up. When you are getting started and gathering information on what is a moneyline, knowing how to determine the underdog and favorite will be key things that can help you become a successful bettor.
Different Bet Formats
While most think that the term moneyline is a type of bet, it is really a type of odds format. A moneyline is a way for a bookmaker to present the odds and payouts for a winning bet. You will find that the odds listed can be displayed in three different ways. Before you start wagering online, you should become familiar with the odds formats that are used by online sports betting sites.
The majority of NJ online sportsbooks will provide the option of choosing any format. Below, we look at some examples of the odds you will find when you start engaging online betting.
One is the moneyline format. You may be asking, what is a moneyline? It is also referred to as American odds or just odds at some sites. The favorite will be depicted with the use of a – sign and the underdogs will have a + sign.
Decimal odds are easy to read and they are the simplest to work with. There are no + or – signs that are used. The favorite and the underdog will both have a number next to the team name and if that number is larger than 2, the team is the underdog. If the number is less than 2, the team is the favorite. The distance from the number 2 will indicate how large or small of a favorite or an underdog one particular team is.
Finally, there are fractional odds and these are not the simplest to understand. In fact, most bettors will choose moneyline or decimal odds and will rarely use the fractional format. An example of a fractional odd is 13/20. In this case, you would take 13 and divide it by 20 and then add 1, so the decimal odds for this fractional format would be 1.65.
Know What You Could Win
When addressing the “what is a moneyline” question, you will want to understand how to determine your possible payouts. Your goal is to generate a profit when wagering. One of the great advantages of betting at an online site is that they calculate the potential payout for you. This way you can quickly determine if a moneyline bet offers a decent profit.
If you are asking what a moneyline is, chances are you will be using this format. When calculating the payout, things will depend on whether your chosen team is the favorite or the underdog.
Betting on the underdog and the moneyline is +145? You’d earn a profit of $145 on a $100 bet. If you are betting other amounts, simply divide the moneyline by 100 to get the profit for $1 wagered and then multiply that by your total bet.
When betting on favorites, things are a bit different. If the moneyline is -155, you would have to bet $155 to win $100 in profits.
You may not think it is important to understand how a site makes money. However, you’ll find that this can affect the movement of a moneyline. The bookie’s cut is referred to as the juice.
A sportsbook will release initial lines and these can then stay the same or change. This will all depend on how members are betting. The movement of a moneyline will affect when you bet on a game.
If a sportsbook sees that there is a lot of action on one team, they will adjust the lines. The idea is to deter more bets from being placed. They will also adjust the lines for the other team. Plus, they’ll likely offer better payouts to draw more attention to that side.
So, what is a moneyline movement? It is when any sportsbook makes changes to an initial line due to wagering trends to reduce their possible loss. Understanding the juice and moneyline movements will help you choose your best possible bets and will also help as you shop around for the best lines offered at a sportsbook.
Search for the Best Value
Now that you have the answer to what is a moneyline, you will want to shop around and find the best possible odds at trusted online bookmakers. Finding the best value is very important with moneyline bets because you want to make a profit with each wager that is placed, regardless of if you are betting on a favorite or an underdog.
Each operating sportsbook will have their own odds, so taking some time to shop around for the best moneyline value and profits will be beneficial in the long run. This is why many experienced sports bettors have accounts at multiple sites, allowing them to always benefit from the better odds when placing a moneyline bet.
Finding value bets is a key strategy to being successful at any online bookmaker and is essential to conquering these popular moneyline bets. You should keep in mind that when placing a moneyline bet, it is not about choosing winners, it is about betting value. You want to make sure you are always placing bets that have value. This can even mean that you end up betting on a team you expect to lose as it will generate a profit with the right moneyline wager.