Join Now! Sign In

What is a Moneyline? Betting the Moneyline Explained

Moneyline betting is one of the simplest and most popular ways to bet on sports, but it often gets misunderstood. The beauty of moneyline betting is that it’s straightforward: you’re just picking who will win. Unlike point spreads or totals, where you have to consider things like how many points a team will win by or the total score, moneyline betting is purely about choosing the winner. If the team you bet on wins, you win. That’s it.

Let’s break down how moneyline betting works, give some examples from different sports, and discuss when and why you might want to place a moneyline bet.

How Moneyline Betting Works

When you place a moneyline bet, you’re simply betting on which team or player will win. No need to worry about the margin of victory or total points scored. The odds are set by the sportsbook and tell you two things:

  • Favorites: The team that’s expected to win has negative odds (like -150), meaning you have to bet more to win less.
  • Underdogs: The team expected to lose has positive odds (like +200), meaning you can bet less for a bigger payout.

Here’s the basic idea: if your team wins, you win. If they lose, you lose. Easy, right?

Reading Moneyline Odds

Moneyline odds are either positive or negative numbers, depending on whether the team is favored or the underdog. Let’s break it down:

  • Negative Odds (-): This is the favorite. If the Los Angeles Lakers are -150, it means you need to bet $150 to win $100. So, if the Lakers win, you’ll get your original $150 back, plus $100 in winnings.
  • Positive Odds (+): This is the underdog. If the New York Knicks are +200, a $100 bet would win you $200. You’ll also get your original $100 stake back, making a total of $300.

Moneyline Betting Example

Let’s use a Major League Baseball (MLB) example:

  • St. Louis Cardinals -180 vs. Chicago Cubs +160

Here’s what these numbers mean:

  • If you bet on the Cardinals (-180), you would need to bet $180 to win $100.
  • If you bet on the Cubs (+160), a $100 bet would win you $160 if the Cubs win.

So, if the Cardinals win, your $180 bet returns $100 in profit, plus your original $180, for a total of $280. If the Cubs pull off the upset, your $100 bet would return $160 in profit, plus your original $100, for a total of $260.

Moneyline Betting in Different Sports

Moneyline betting works in almost every sport, but each sport has its own quirks. Here’s how moneyline betting plays out in some of the most popular ones:

Moneyline Betting in Football (NFL)

In football, some bettors prefer the simplicity of moneyline bets over point spreads. Since there are so many ways to score (touchdowns, field goals, safeties), betting on who will win outright can feel less complicated.

For example:

  • Kansas City Chiefs -200 vs. Las Vegas Raiders +180

In this case:

  • A $200 bet on the Chiefs (the favorite) would win $100 if they win.
  • A $100 bet on the Raiders (the underdog) would win $180 if they pull off the upset.

Moneyline Betting in Basketball (NBA)

In basketball, moneyline betting is common, but heavy favorites can mean low payouts. The NBA is a bit more predictable than other sports, so betting on underdogs can be tougher.

For example:

  • Los Angeles Lakers -300 vs. Phoenix Suns +250

In this example:

  • A $300 bet on the Lakers would return only $100 if they win.
  • A $100 bet on the Suns would win $250 if they manage to win.

Moneyline Betting in Baseball (MLB)

Moneyline betting is especially popular in baseball, where games are often lower-scoring and underdogs win more frequently than in other sports. This makes the moneyline a great way to find value, especially when betting on underdogs.

For example:

  • New York Yankees -150 vs. Boston Red Sox +130

Here’s what happens:

  • A $150 bet on the Yankees would win $100.
  • A $100 bet on the Red Sox would win $130 if the underdog wins.

In baseball, pitching matchups are a huge factor, and sharp bettors often find value in betting underdogs when they spot a vulnerable pitcher.

Moneyline Betting in Hockey (NHL)

In hockey, games are typically low-scoring and more unpredictable, which means moneyline bets can be close. The odds in hockey are usually tighter, and even the favorites don’t always have the huge odds you might see in other sports.

For example:

  • Toronto Maple Leafs -120 vs. Montreal Canadiens +110

Here’s how it works:

  • A $120 bet on the Maple Leafs would win $100.
  • A $100 bet on the Canadiens would win $110.

Pros and Cons of Moneyline Betting

Pros

  1. It’s Simple: You’re just picking a winner. No need to worry about point spreads or margins of victory.
  2. Potential for Big Wins on Underdogs: Betting on the underdog can lead to big payouts if they win, especially in sports like baseball and hockey where upsets are common.
  3. No Point Spread Stress: You don’t have to worry about whether a team covers the spread, just if they win or lose.

Cons

  1. Big Favorites Require Big Bets: Betting on heavy favorites means you’ll need to risk a lot to win a little. For example, betting $300 to win $100 can be risky, especially if the favorite loses.
  2. Low Value on Heavy Favorites: Betting on big favorites doesn’t always provide good value. A single upset can wipe out the profit from several successful bets.
  3. All or Nothing: Moneyline bets are straightforward, but you either win or lose. Unlike spread betting, there’s no middle ground where a team can lose the game but still cover the spread.

Moneyline Betting Strategies

If you want to get the most out of moneyline betting, here are a few strategies to keep in mind:

  1. Look for Value in Underdogs: Especially in sports like MLB and NHL, underdogs win more often than you’d think. Finding value in these bets can give you big payouts for smaller risks.
  2. Avoid Betting Big on Heavy Favorites: Betting on heavy favorites might feel safe, but the low payout often isn’t worth the risk. A single loss can wipe out several wins.
  3. Watch Line Movements: Moneyline odds can shift leading up to a game, especially if there’s breaking news or heavy public betting. Keeping an eye on these movements can help you spot value before the odds change too much.
  4. Hedge Your Bets: If you’ve bet on an underdog and the game is close, you can hedge your bet by placing a smaller wager on the favorite as the game progresses. This ensures some profit if the underdog starts to fall behind.
  5. Manage Your Bankroll: Don’t chase losses by betting more on heavy favorites. Stick to a budget and don’t get greedy, no matter how tempting the odds may seem.

Conclusion

Moneyline betting is one of the simplest and most exciting ways to bet on sports. You’re just picking a winner—no worrying about points, spreads, or totals. While moneyline betting offers big opportunities, especially when betting on underdogs, it’s important to be careful when betting on heavy favorites, as the potential reward often doesn’t justify the risk. With the right strategy and an understanding of how moneyline odds work, you can use this betting style to your advantage and enjoy the excitement of watching your picks win.

Frequently Asked Questions (FAQs)

What is a moneyline bet?

  • A moneyline bet is a wager on which team or player will win the game outright, without considering the point spread.

How do moneyline odds work?

  • Moneyline odds show either negative numbers for favorites (you risk more to win less) or positive numbers for underdogs (you risk less to win more).

Why is it better to bet on underdogs with the moneyline?

  • Underdogs offer higher payouts because they are expected to lose, so if they win, you can get a much bigger return on your bet.

Is moneyline betting safer than spread betting?

  • Moneyline betting is simpler, but it’s not necessarily safer. Spread betting can offer more flexibility in close games, while moneyline bets are all-or-nothing.

Can you parlay moneyline bets?

  • Yes, you can include moneyline bets in parlays, where you combine multiple outcomes. Adding underdog moneyline bets to parlays can result in bigger payouts.