Even if you are unfamiliar with the world of sports betting, you will probably know about moneyline sports betting. You may not have heard the term before, but this moneyline betting guide will explain everything about this simple bet.
Betting the moneyline simply asks you to pick a winner of an event. It doesn’t matter what the margin of victory is – you just predict a winner. If the event offers up the possibility of a third outcome, there will also be the opportunity to choose that.
For example, when betting on a football match, you could pick Liverpool to win, Arsenal to win, or predict a draw. Each option will also have its own odds. This is the most popular type of bet in the UK, as it is easy to understand – even for beginners. In betting terms, moneyline is sometimes called a win bet or 1X2.
What Is a Moneyline Bet?
If you want to know what a moneyline bet is, there is no two ways around it: you just predict the winner of an event, e.g. you are only concerned with the outcome. There is also a chance to pick a third option if the event allows for such an outcome.
How to Make a Moneyline Bet
Placing a moneyline bet is very straightforward. Just follow the steps below, they should cover how you can place a moneyline bet on most if not all sports betting sites:
- First, you need to register for a customer account with an online sports betting site.
- Then, explore the betting markets to find a suitable wager.
- Since moneyline sports betting only asks you to predict an outcome, you only select the winner of the event (or the draw, if that is possible).
- Tap on your choice, and it will automatically appear on the betslip.
- Then, decide on a stake for your bet.
- Finally, confirm and place the wager.
For more insight on how to efficiently bet on the moneyline, check out moneyline betting tips.
How Do Moneyline Odds Work?
The odds in a moneyline sports betting market denote the possibility of that outcome actually happening. In betting terms, moneyline odds can be displayed in a number of ways – decimal, fraction, and American. We are going to concentrate on the American odds version here, but the odds are always the same, whichever you prefer.
In any sports event, there will be a favourite that can be identified with negative odds. The underdog will have positive odds when you are betting the moneyline.
Favourites
The favourite is the team or person most likely to win the event. It will have negative odds that look something like -200. This means that you would need to place a bet of £200 to win a profit of £100.
Underdogs
The underdog is the potential selection that is most unlikely to win. Its odds will be positive, for example, +200. In this case, you would win £200 if you placed a £100 bet.
Pick ‘Em (Even Money)
In moneyline sports betting, this is when the odds are set at even money for a selection to win. It is thought that there is a 50-50 chance for the team or person to win. It can be identified with +100 odds. Whatever amount you place as a bet is the amount that you stand to win if the bet is successful.
3-Way Lines (Draws)
Some sports events or matches will have a third option as well as one for each team or person to win. This is particularly common in football where a draw – or tie – is possible.
How to Calculate Moneyline Odds
Figuring out how much you can expect to win from a moneyline bet is very simple. You just pick a winner (or the draw) and select a stake. The bigger the stake, the bigger the potential winning returns.
Different versions of odds can be worked out in different ways, but no format is better than any other. It just depends on what you are used to and what you prefer.
A favourite’s odds will be listed as something like -200. This means that you would need to place a £200 bet to win £100. You would also receive your stake back, so the total return would be £300.
An underdog’s odds would look more like +200. This means that if you placed a £100 bet, you would get back £200 in winnings. With your £100 stake returned as well, you would end up with £300.
Sometimes, you will see much larger odds for an underdog. Although this does mean that there is the potential for a bigger payout, there will be a reason why the odds are so long – that team or person is not expected to win.
How is Moneyline Betting Different from Other Bet Types?
Most online sports betting sites will offer a whole host of moneyline betting options for most events. But you will regularly have a lot more options to choose from.
While moneyline sports betting implies picking the winner (or the draw), totals betting, for example, completely ignores this prediction. It only concentrates on the total number of points or goals scored in the event.
Spread betting, which is particularly popular with some American sports, evens up the balance a little more. With spread betting, the underdog will be given a number of points or goals, which will then be added to the amount scored in the game. In this way, a team can lose a game in real life but still win the bet.
Moneyline Sports Betting FAQs
What are the advantages of moneyline sports betting?
Moneyline sports betting is one of the simplest wagers to understand and is, therefore, very popular with beginners in particular. You are simply predicting the outcome of an event.
When should I bet on the moneyline?
You should choose the moneyline bet when you only want to predict the winner of an event – or the outcome if there is a third option.
Should I bet the moneyline or spread?
This is a personal choice. Moneyline betting markets can offer longer odds but also shorter odds for favourites, whereas a spread bet evens up the chances for either team or person to win.
What does a +200 mean in moneyline betting?
These odds tell you that you would receive £200 in winning returns if you placed a £100 bet. It also tells you that this person or team is the underdog.
Can you put moneyline bets in accumulators?
Yes. You can include moneyline bets in accumulator bets.
Which sports can you bet moneyline on?
Any event that has two or more teams or people competing against each other can offer the potential for a moneyline bet.
