Moneyline Bet Explained in 2021
What is the first wagering type that crosses your mind when you think of sports betting? We are 100% sure that it's moneyline bet! You don't know what does it mean? Our expert bettors are revealing all answers related to this betting type. Check out this comprehensive guide and implement this wagering type into your sports gambling experience!
What is a Moneyline bet?
Moneyline bet is the most basic wagering type in sports gambling. The principle of this betting type is picking the winner of the event. A bettor does not need to about the number of points or goals scored, or about the winning margin. Therefore, moneyline bets represent a perfect start for someone who just dipped into the wagering waters. Of course, professional bettors have developed numerous strategies based on this betting type.
Moneyline betting provides you a very few options for the possible outcome. Depending on the kind of moneyline wager, bettors can choose from two or three possible options. For instance, picking a winner of the tennis match represents a moneyline bet. Since a draw is not an option in tennis, you have two markets for this kind of wager. On the other hand, if you are a soccer fan, betting on the team to win the game will provide you with three possibilities. In this case, the match can end in a draw, and you theoretically have a 33% chance to win a bet.
The simplicity of a moneyline bet is its most significant advantage. Even if you are wagering for the first time, it won't take you much time to figure out the odds, and how this betting type works. Moneyline odds are usually presented as default offer for any sporting event. If the odds offered for one side are lower, it means that team is considered as a favorite. Oppositely, if the odds are higher, it means that the team is an underdog and has fewer chances of winning.
Types of Moneyline bet
We just skimmed the kinds of the moneyline bet; however, we are going to dive into more details. There are two major types of moneylines, and the only difference between them is the number of available options offered.
2-Way moneylines are the wagers which feature two possible outcomes. They are suitable for sports that do not include the prospect of a draw. We have already mentioned tennis, but the same can be applied to basketball as well. Indeed, if you check the moneyline markets for any NBA game, you will see the odds offered only for the home or away win. Basketball is one of the most popular sports where the contestants cannot end the match in a tie. Theoretically speaking, a bettor has a 50% chance to win a wager. However, if there isn't a clear favorite in the clash, you cannot expect to get the odds at +100 for both markets. Bookmakers are calculating their margins, so you can expect to get the odds around -115, depending on the sportsbook. 2-way moneylines can also be found for any NFL game.
You can also get three moneyline markets, and that type is also known as 3-way moneylines. Besides the possibility of picking a winner of the game, you can also put your money on a tie. This kind of a moneyline bet is famous for soccer or hockey events.
Placing a Moneyline bet: Step-by-Step
Placing a moneyline bet is so simple that you will complete the process within just a few clicks. If you are still not comfortable making this kind of wager on your own, we are going to walk you through all steps.
- Head to the online sportsbook: Betting market offers tons of great options, and sometimes it can be tricky to choose the favorite bookmaker. However, you can always see who are the best betting sites, and make your decision easier.
- Register an online account: Right after choosing a sportsbook, you should sign up for an online account. After you create an account, don't forget to fund it with some money so you can place wagers.
- Pick the event: Previous steps are more related to administrative stuff, but now the real deal starts. Head to the game of your interest and click on the odds to add it to your bet slip.
- Place a wager: The last thing you need to do is enter the stake and hit the Place Bet button.
Usual sports for placing a Moneyline bet
The nature of moneyline bet makes it suitable for any kind of sport. You would agree that the essence of any sports competition is getting a winner. The most popular ones, such as football, soccer, basketball, or hockey, are topping the offer for most bookmakers. Depending on the type of sport, you will always be able to find either 2-way or 3-way moneylines.
One thing you should be careful of when placing moneyline bets is if the overtime is included, especially for the NBA or NHL matches. You need to check at your sportsbook if the wager covers only the regulation time, or the overtime as well. Besides all team sports, moneyline betting is suitable for individual sports as well. Tennis is just one of the examples, while there are also combat sports, snooker, or even darts. The possibilities that moneyline bet provides are extensive, and that one of the reasons why bettors like this kind of wager.
Examples for Moneyline bet
You are about to see how moneyline bets are simple on two practical examples. As a reference, we will take an NBA clash between the Toronto Raptors and Portland Trail Blazers, and the Premier League match between Crystal Palace and Tottenham.
Winning example of Moneyline bet
You dipped into the NBA offer and fount the game that got your attention. Toronto Raptors are about to host Portland Trail Blazers, and you are confident that the home side will win. The bookmaker has offered the following odds.
|Portland Trail Blazers||+215|
The odds seem to bring you reasonable value, so you decide to put a $100 moneyline wager. Indeed, the Raptors met the expectations and celebrated a 110:104 victory. It means that you won a bet and earned $40 on top of your stake.
Losing example of Moneyline bet
In the build-up of the latest round in the Premier League, you are confident that Tottenham will celebrate away to Crystal Palace. The hosts lost seven times in a row, while the Spurs can secure the Europa League qualification spot. A moneyline bet on the away side seems to be an excellent choice, and you put $100 at the odds of -200. However, the game ended with a 1:1 draw, so you cannot count on any returns from this wager.
Moneyline bet for beginners: How to bet
Although moneyline bets are the simplest way of wagering, several tips can help you make a good start with this betting type. Thanks to those, you will minimize risks and make your wagering experience much more comfortable. Let's check the most important ones.
- Start with lower stakes: Always keep in mind to wager responsibly! If you are confident in a particular pick, it doesn't mean it will turn out as a winner. Stick to your banking strategy not to pun out of money too soon.
- Most suitable betting type for beginners: It is always recommended to start your wagering experience with simple betting types. And there is no more straightforward type of bet than moneylines. It will keep you focused, and you shouldn't be overwhelmed with other information.
- Consult professionals when choosing picks: Expert help is always welcome, and before making final decisions, seek some professional advice. The best way of getting free professional picks is by signing up for Billy's List.
- Explore different sports: Before placing a moneyline bet, get familiar with the rules for each competition. Since this betting type applies to all kinds of sports, you should bear in mind specific standards that each of them brings. We have already mentioned basketball and overtime, so you should always be up to date with information before putting money on a wager.
- Be patient with chasing profits: Everybody who ran for quick profits ended up with an empty bankroll. Build a strategy, if it works, stick to it, and don't get carried away with chasing huge profits.
Moneyline bet for professionals: How to bet
This kind of wager is so popular that professional bettors have developed several sports betting moneyline strategies upon it. If you decide to go with moneyline bets as a primary strategy, you need to know that chasing winning streaks won't guarantee profits. Expert bettors are always seeking for a value. It means that you can end up with decent returns even if you had more losing bets than winners. The point is to stop chasing winning streaks, but start chasing profits.
One of the approaches for finding value is looking for line movements. Since bookmakers can update the odds based on various information, professional bettors are trying to capitalize on small edges. You can boost your returns if you just react on time. Eventually, your overall profits can get increased significantly.
Inexperienced punters usually think they can beat the bookies just by backing huge favorites. And that is a crucial mistake they are making. This moneyline betting strategy requires higher stakes to make reasonable returns since the odds are short on a favorite. However, sport is unpredictable, and the best teams can lose quite often. You need to have a long winning streak to get decent profits, but due to the higher stake required, only one loser can ruin everything. Of course, it doesn't mean that you should always avoid a favorite; however, you should always check if it brings good value odds.
Moneyline bet: Try it now at one of the top 5 betting sites
You don't need to overthink to start placing moneyline bets. Head to your sportsbook, create an account if you haven't done so, and load some money to it. From the extensive daily offers, find the pick that suits you the most and place a wager.
Moneyline bet is about predicting a winner of a particular match. It is the simplest betting type since totals and points spread are not affecting its outcome. You can have two or three possible outcomes, depending on if the game includes the prospect of a tie.
It depends on the nature of a particular sport, as well as on the bookmakers’ rules. It is always recommended to check if overtime is included before placing a wager. This way, you will get a clear overview of regulations and avoid making costly mistakes. It mainly refers to basketball or hockey matches.
Yes, you can put as many moneyline wagers as you want on your bet slip. This way, you can build combos, and the type of sports does not restrict you. You can put events from all major leagues such as NFL, NBA, MLB, NHL, or the Champions League.
Moneylines have two main subtypes: 2-way and 3-way moneylines. With 2-way moneylines, you can wager on who will win the match in events where a draw is not possible. 3-way moneylines apply to sports where a tie is a realistic outcome, such as hockey or soccer.
Moneyline bets in the NBA and NHL usually cover the regulation time of the match. In case of the team you backed wins after all periods of the game, you win a wager. Most often, moneylines do not cover overtime in NBA and NHL matches; therefore, you can put money on a draw of you think nobody will win in the regulation time.