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|‣||How A Moneyline Works|
|‣||How To Calculate Moneyline Odds|
|‣||Why Bet On Moneyline Bets|
Moneylines are one of the most popular betting types in the world, especially in low-scoring sports. In this article, you’ll get to know everything about moneyline betting.
Moneylines are a simple type of bet, select the winner of a game or event, and that’s it. You pick the outright winner; you get the payout.
The odds are set based on a team or player’s ability. Therefore, the amount of money you can make will vary a lot, depending on the event.
How Does A Moneyline Work?
For example, NFL moneylines are often shown in American odds. These odds evolve around winning or betting $100 on a given bet.
In better terms, when you bet on a favorite, the odds have a minus (-) attached to the number. This negative number equals the money you need to bet to win $100 in return.
As for the underdogs, they will have a plus (+) sign. The number represents the money you’ll win for every $100 risked on the bet.
Moneylines are popular on team sports but have been relegated to spread bets, mostly high-scoring ones like the NFL or the NBA. However, in combat sports, moneylines are as popular as ever. Let’s see a UFC example.
UFC had a fight between Israel Adesanya (-270) and Marvin Vettori (+210). As you can see, Adesanya has the negative sign attached to the odds, meaning he is the favorite for this bout. Vettori is a +210 underdog in this case.
So, if you bet on Adesanya, you need to lay $270 to win $100. If he wins, you bag $100, plus the original $270 bet back.
If you place a wager on Vettori, a $100 bet would give you a $210 profit. So you get back a total $310.
The $100 is an overall scale. You don’t have to lay a $100 bet every time. For every $1 you want to win by betting on Adesanya, you have to lay $2.70. For every $1 risked on Vettori, you win $2.10. The $100 mark is just for reference, and then you, or the sportsbook, adjust it to the bet in place.
Plenty of sites have their own moneylines calculators. Sportsbooks always calculate the payouts for you. You will often see it in the bet slip tab before placing your wagers.
How To Calculate Moneyline Odds
Sportsbooks will make the calculations for you, but of course, you can do it on your own. The formula is different for favorites and underdogs, but both are pretty easy to understand.
For the favorites: multiply the amount you want to win by (moneyline/100)
For example, if you want to win $50 on Adesanya at -270, do the following:
Win Amount x ((-1 x Moneyline)= Wager
$50 x 2.70 = $135
For the underdogs: Multiply your bet by (moneyline/100), or divide the amount you want to win by (100/ (100/ moneyline)).
If you want to win $100 on Vettori, do the following:
Win Amount / (210 / 100) = Wager
$100/ 2.1 = $47.62
Why Betting On Moneylines?
In low-scoring sports like baseball, soccer, or hockey, moneylines are the most popular bets. High-scoring sports are more inclined to spread bets. This is because, in low-scoring sports, spread betting is not as valuable as in high-scoring events.
For example, one goal can decide a hockey game many times, so spread betting is not as attractive. As for the NFL, you can see blowouts, tight games, or just matches decided for a larger number that a team may or may not cover. Hence, the spread comes in handy.
However, moneylines can also work in sports like football or basketball if:
You are betting on the underdog to win straight up.
You think the favorite wins, but not cover the spread.
Moneylines also apply to any future markets, like betting on the Super Bowl winner or NBA future champions. You’ll find every franchise with a moneyline attached to them.
Most of the time, this will be positive odds due to the unpredictability and many other factors a season brings that could change the outcome of a team.
Is There Juice On A Moneyline?
The juice is the cut a sportsbook takes on each bet. It’s also known as vig. You’ll find that the standard odds are at the -110 odds in the spread or total bets. The bookmakers keep 10% of the vig. It’s different on moneylines, as there is no standard payout.
Having said that, there is juice on the moneylines, and it’s the gap in between both sides’ odds. Sportsbooks aren’t looking away from their cut.
That’s why you have to risk more to bet on a favorite than you would win betting on the underdog. In other words, it’s more expensive for your bankroll to bet on the favorite than what you can earn if betting for the underdog.
For example, let’s say there is a Yankees-Red Sox game. The Yankees is a -2.5 point favorite. The moneyline looks like this:
– New York Yankees -140
– Boston Red Sox +120
The implied probability of the Yankees winning is 58.33%. For the Red Sox, it’s 45.45%. If you add them both, it equals 103.8%, meaning the bookmakers have a 3.8% juice. As you can see, you need to lay $140 to win $100 if you go for the New York Yankees to win.
If you want to bet for the Boston Red Sox, a $100 bet gives you a $120 profit. In one, you risk $140, and the other winnings are $120. The gap between them is the cut the sportsbook takes.
Some sportsbooks offer the bettors 10-cents. That would turn the odds of the example into -135/+125. Something bettors should really exploit.
How To Make a Moneyline Bet
It is very simple to place a moneyline bet. Follow these steps:
1. Log into your favorite sportsbook.
2. Find the event you want to bet on.
3. Click the moneyline next to the team or player you want to bet on.
4. Head to your bet slip tab on the right and place the bet.
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