How To Bet Moneyline On DraftKings
Lukasz
Updated: Aug 8, 2023
This page contains references to products from one of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Affiliate Policy, visit this page.
When you bet on an NFL moneyline, you are placing a wager on the most simplistic type of sports betting.
With moneyline bets, you are wagering on the side you believe will win the game straight up.
While with points spread bets, you must wager on a team to win or lose by a predetermined number of points, which could complicate the process for new bettors, that is not the case with moneylines.
The one thing you should note with NFL moneyline bets is the odds attached to each side.
Oddsmakers assign odds to each team based on their probability of winning the game. The bigger the favorite, the lower the odds, which reduces the payout.
Consequentially, the greater the underdog, the higher the odds, which inflates the payout.
At DraftKings Sportsbook, you will find various types of NFL moneylines.
In this guide, NFL moneyline bets at DraftKings Sportsbook will be dissected with the hopes of making you a more successful sports bettor long term.
How To Bet Moneyline On DraftKings Sportsbook
Placing a moneyline bet on DraftKings Sportsbook is easy.
However, before you can place any bet type, you must first join DraftKings Sportsbook.
You can join DraftKings in two different ways. First, you can visit DraftKings Sportsbook on their web page or on their mobile app.
The DraftKings mobile app is available for both iOS and Android supported devices.
Next, you will begin the signup process. Along the way, you may be prompted to enter a bonus code. You don’t need one.
You will activate our DraftKings Sportsbook new user welcome offer without it.
You can also sign up for DraftKings Sportsbook by clicking on the “Play Now” button on this page.
Doing so will redirect you to DraftKings to register while activating your bonus.
Placing A Moneyline Bet At DraftKings
- Open a new DraftKings Sportsbook account
- Next, navigate to the NFL markets tab and click on it
- Find the moneyline market you want to bet on
- Click on it so it will appear in your bet slip
- Enter the amount you want to stake
- Finally, review your bet slip and click the “Submit Bet” button to complete the betting process
What Is A NFL Moneyline Bet?
An NFL moneyline bet is the most basic type of sports betting.
All you have to do is pick the team you think will win the game straight up.
When you see odds attached to each team, you should know that oddsmakers determine these odds based on a team’s implied probability of winning the game.
The team projected to win the game is the favorite and will be designated with minus odds. Meanwhile, the team projected to lose will have plus odds.
For example, if the Los Angeles Chargers are playing the Kansas City Chiefs, and the Chiefs are favored, you will see odds similar to this:
- Chiefs (-215) versus Chargers (+170)
What Is 3 Way Moneyline In NFL?
Most of the top online sportsbooks will offer 3-way moneylines.
While 3-way moneylines are more common for sports like soccer and hockey, you will also find them for NFL markets.
With 3-way moneylines for NFL regular-season games, overtime will be included since these games can end in a tie.
For NFL postseason games, 3-way moneylines will not include overtime since these games can not end in a tie. Instead, 3-way postseason NFL moneylines will settle at the end of regulation.
What Does – / + Mean In Moneyline?
When you see -/+ signs attached to a moneyline, these symbols will designate the favorite, the underdog, and each side’s price.
When you see a team with a minus symbol, this team is the favorite to win the game. When you see a plus symbol, it will be assigned to the underdog.
Here is an example using the Chiefs-Chargers odds from earlier:
- Chiefs (-215) versus Chargers (+170)
If you place a $100 bet on the Chiefs at (-215) odds, your payout will be $147 if they win the game.
If you place $100 on the Chargers priced at (+170), your return will be $270.
What Does No Juice Mean In Moneyline?
When it comes to sports betting, the term juice is also called the vig.
While the juice is the house’s edge, it is also the cut they take from your wager for placing your action on their platform.
You will find no juice moneylines in two different ways. First, you may run into a “no juice” offer at your favorite sportsbook’s promotions page on a select moneyline market.
You may also find a no juice moneyline if the oddsmakers believe the implied probability for both teams to win or lose is equal.
A no juice moneyline will look like this:
- Seattle Seahawks (+100) versus Los Angeles Rams (+100)
No matter what team you bet on, a $100 bet will give you a $200 return if your side wins.
Does Moneyline Include Overtime Play?
Yes. For both regular season and postseason games, 2-way moneyline bets will include overtime.
This will change with 3-way moneylines, however.
With 3-way moneylines, regular-season games will include overtime whereas playoff games will not since a postseason game can not end in a tie.
What Happens To Moneyline When NFL Game Ties?
If your 2-way moneyline results in a tie, you will get your stake back as the bet will be graded as a push.
With 3-way moneylines, you will win your bet if you placed a wager on a tie to be the final result.
However, if you placed your bet on either side to win and the game ends in a tie, your bet will be graded as a loss.
NFL Moneyline Betting Rules At DraftKings
At DraftKings Sportsbook, the moneyline betting rules are simple.
All you have to do is pick the side you think will win the game outright to win your bet. Unless otherwise stated, overtime will be included in the result.
What’s more, with 2-way markets, push rules will be in effect unless otherwise noted.
Moneyline Calculator
When you use a moneyline calculator, you can enter the value of a team’s odds so you can see your potential payout if your bet wins.
You can also use a moneyline calculator to convert American moneyline odds into other popular formats like fractional and decimal.
Another great use for a moneyline calculator is to determine a team’s implied probability of winning based on their current odds.
NFL Moneyline Betting Strategy
When you are sports betting, be sure to use various betting strategies to help you win more bets and increase your overall profit.
Here are some of the most actionable NFL moneyline betting strategies you should know about before placing your first or your next bet.
Be Wary Of Heavy Favorites
While a heavy favorite will imply that they are a lock to win their game. Nothing is a lock with betting, especially in the NFL. The phrase “any given Sunday” was made for a reason.
So when you are tempted to place a bet on a team with (-560) odds because you think they are a sure thing, pump the brakes.
If you place a $100 bet on (-560) odds, your payout will be $118. You are risking $100 to win $18. Does that make sense? If that “lock” loses, you’re out $100.
You’d be better off including that heavy favorite in a parlay.
Don’t Get Bitten By The Underdog
While underdogs are attractive since you can garner a large payout on a small bet, your small bet’s stakes will eventually add up, especially when you are not winning.
Sure, betting on an underdog can be profitable, but be sure you are betting on the right underdogs.
Home underdogs are normally the best underdog wagers to make with NFL betting. They have increased value with decreased risk.
Line Shopping
Be sure to deploy the line shopping technique when sports betting.
Doing so will give you the best shot at a long-term profit since you are getting the best price on each market you bet on.
When line shopping, you must also have multiple sports betting accounts active and loaded with funds so you can pounce on a market before the line moves, which happens constantly.
Read our in-depth guide for more tips on how to bet NFL games on DraftKings Sportsbook.
