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Richard Miller
Author:
Richard Miller
Last Updated:
November 15, 2020
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This author was thoroughly tested and approved by the experts at BettingBilly.com before joining the editorial board to ensure a high content quality.
Author Bio:
 
Richard was Marketing Manager at a global bookmaker and worked in the enterntainment sector for decades before working his way up in the world of entrepreneurs. His focus areas are mainly in the fields of sports and politics. He has a Science Degree, visited Harvard University and is now our hardworking Editor-in-Chief at BettingBilly.
Richard was Marketing Manager at a global bookmaker and worked in the enterntainment sector for decades before working his way up in the world of entrepreneurs. His focus areas are mainly in the fields of sports and politics. He has a Science Degree, visited Harvard University and is now our hardworking Editor-in-Chief at BettingBilly.

2-Way Moneyline Explained in 2020

2-way moneyline bets are the simplest type of wagers in sports betting. We can easily explain the principle of this betting type, as there are only two possible outcomes offered. It applies to all kinds of sports where a draw isn’t an option. However, there are varieties which work according to the same principle. Let’s dip into more detail and explain what does two-way bet mean.

What is a 2-way moneyline betting type?

The sports wagers, which feature two possible outcomes, are also known as 2-way bets. As its name says, a 2-way bet provides you two options to wager on. A classic example of a two way bet is a tennis match. There are two possibilities for an outcome as one of the players can come up as a winner, while the other one will lose the game. In theory, your chances of winning are 50:50 with this betting type. However, the bookmakers will adjust the odds according to the different parameters. Those parameters can be players’ rankings, form, playing surface type, etc. Even if there is not a favorite or an underdog in the match, bookies will not offer you the odds at +100. Most likely, you can count on getting the odds around -118, depending on the selected bookmaker. In competitions where a draw is not possible, like the NBA, NFL, or NHL, this is the most basic betting type.

2-way moneyline bets are prevalent among punters. The simplicity is one of the biggest pros of this betting type. A bettor should just pick a winner, not overthinking about how many goals or points will be scored in the game, winning margin, etc.  Two-way betting is suitable for players who just dipped into the wagering waters, but also very appreciated among professional bettors. There are different strategies built upon this kind of wager, which can result in high winnings in the long term.

Types of 2-way moneyline bets

As we mentioned above, this betting type is mostly applicable to the sports with no chance of a draw. However, several subtypes have been adjusted to games with more than two outcomes. This time let’s take soccer as an example.

Draw No Bet is one of the most popular varieties of 2-way moneyline bets. Although a draw is one of the possible outcomes in soccer, this type of two way wager eliminates the prospect of the tie. Similar to tennis, a bettor can pick a winning team, and the bookmakers will offer the odds for a Draw No Bet accordingly. However, if the game ends with a draw, then all wagers will be refunded.

Another variety of a two-way bet which is very popular in soccer is Double Chance. In this case, a draw is allowed as an outcome of a game. There are three possible picks with this type of a wager:

  • Home team wins or draws
  • Away team wins or draws
  • Either team wins

So, with each of these three bets, you are just eliminating one of the results.

There are also lots of unique wagers related to this betting type. Head to Head betting applies to sports with multiple contesters, such as Formula 1. Thanks to this betting type, you can wager on a winner of a duel, a direct comparison of two contesters.

Placing a two-way moneyline bet: Step-by-Step

In case you are placing a 2-way moneyline bet for the first time, we are going to walk you through every step. It is a straightforward process, and you shouldn’t have trouble making your first real-money sports wager. Let’s start:

Steps Box Background
  1. Select an Online Sportsbook – There are tons of great options on the online betting market. As this can also be challenging for choosing your favorite sportsbook, but you can always check the online sportsbooks reviews.
  2. Fund Your Account – Before dipping into the offer of your selected sportsbook, you need to put some money into the account.
  3. Select a Bet – After you’ve done the administrative stuff, you can finally start the process of placing a bet. If you are new into sports betting, or just not sure which bet to place, you can check out Billy’s List of suggested bets.
  4. Place a Bet – Navigate to the sports and league on the bookmaker’s site and find an event that you want to wager. Just click on the desired bet, and the betting slip will be automatically populated. All you need to do is enter your stake and hit a button to place a wager.
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Usual sports for placing a 2-way moneyline bet

Since you have learned what a two-way betting is, we can see which sports are the most suitable ones for putting this kind of wager. We have already mentioned tennis, but punters can also find this betting type applicable to basketball or football. If you wager on a basketball match-winner, make sure that it includes overtime as well. If a wager is valid only for the regulation time of a game, then a draw might be considered as the possible outcome, not taking into account the result after overtime.

Thanks to their varieties, 2-way line betting is popular in lower-scoring sports such as baseball or hockey. Like basketball, the same betting principle can be replicated on hockey as well. A two-way betting can be interesting for football, particularly for Super Bowl matches, as you should simply pick a winning team. Ultimately, you can use this betting type in the most popular leagues,  such as NBA, NFL, NHL, or MLB.

Examples for 2-way moneyline bets

We have spoken a lot about theory, but you must be wondering how all of this looks in practice. Imagine that you want to put a wager on an NHL match between Capitals and Islanders. Let’s go briefly through the following two examples and see the different possibilities of a two-way bet.

A Winning example of a 2-way moneyline bet

TeamOdds
Washington Capitals-140
New York Islanders+120

You have decided back favorites, and in this case, that would be the Capitals. They met the expectations and celebrated a 3-1 win. Once the bet is settled, you will end up with winnings. According to the odds in the given case, to collect a $100 payout, you would need to wager $140.

Losing example of a 2-way moneyline bet

TeamOdds
Washington Capitals-140
New York Islanders+120

You have decided to stick to the favorites, but the underdog, in this case, New York Islanders, pulled up an upset and won 2-1. Your bet is a losing one, and you cannot count on any returns from it.

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Two-way moneyline for beginners: How to bet

For getting into sports betting more efficiently, you should consider some tips that can help you enjoy the game and skip falling into traps. If you stick to those, you will more likely have a successful start of your betting experience.

  • Two-Way Moneyline is the most suitable for beginners: you shouldn’t be overwhelmed with information about sports betting since it might confuse you in a second. For a start, keep up with the simplest ways of betting, and two-way bets are a perfect choice.
  • Explore different sports: Although this type of wager applies to almost every kind of competition, it is particularly famous for some of them. You should acknowledge the rules of each sport you want to bet on and find the best fit for your two-way wagers.
  • Carefully make your selections: Picking a game is not only about backing a favorite team or player. Before placing a bet, you should collect as much information as possible about the game. In “Billy’s List”, you can find tons of professional tips. The good news is that you can sign up for free!
  • Start with small bets: No matter how confident you are about your pick, stick to your banking strategy. Do not bet more than you can afford to lose! And keep in mind to wager responsibly!
  • Don’t chase huge profits: Nobody got rich overnight thanks to sports betting. You can build a strong strategy around 2-way lines, don’t let yourself lose strings, as this will result in an empty bank.

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Two-way moneylines for professionals: How to bet

Not only this betting method is very suitable for the beginners, but the professional bettors have developed strategies and principles upon it. The first thing that you should do as a professional punter is to understand how to find a value. Betting is not just about chasing winning streaks. You can land more winner bets than losing ones, but without making any profits. The main point of this principle is to start pursuing a profit instead of chasing wins.

Line movements can also play a crucial part in finding the value of a bet. It is not strange that lines tend to move quite a bit in either direction. Professional bettors are studying these movements to capitalize on small edges and make more returns. Predict and react on time, and you can enjoy more significant profits in the long term.

Experienced punters are cautious when backing a huge favorite. Of course, you should go with the pick if that makes value for you. However, you need to risk a lot of money to make any meaningful profit. Sports are not just about the numbers, it is a game, one unpredictable moment can decide a match and huge favorites can be stunned, and you will lose a lot of money.

2 way moneyline: Try it now at one of the top 5 betting sites

Now that you have learned more about two-way betting, you can start placing wagers. Before registering an account at a bookmaker, check the best sports betting sites on the market, and find the one that suits you the most. With the wise selection of picks, you can kick-off your betting journey and make profits from it.

 
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Conclusion: The simplest betting type
No matter if you are a newbie or a seasoned bettor, you can use 2-way betting for building up a great strategy. Not only are they quick to learn, but they also represent the basics of sports betting. It doesn’t mean you can easily make piles of money, but if you analyze their pros and cons, you may find lots of value opportunities in the long term.
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