Moneyline vs. Spread Betting

This example from BetRivers effectively demonstrates the contrast between moneyline and spread betting.

• The 9.5-point handicap reduces the odds of Denver winning by 10 or more points at -110 juice, while the -420 moneyline odds are costlier. The Nuggets are heavily favored, and they only need to win the game to cash a moneyline wager.
• Alternatively, the odds of Philadelphia covering the 9.5-point spread are -110. There are two ways to win the bet: winning outright or losing by eight points or less. The moneyline for the Trail Blazers offers a larger $325 return on a $100 investment, which reflects their status as significant underdogs to win the game.

Understanding the concepts of moneyline betting not only clarifies one of the most basic forms of sports betting but also highlights its simplicity. That, coupled with the potential for significant payouts, particularly when betting underdogs, makes it a preferred bet.

Point spread betting, often referred to as spread betting, introduces a layer of complexity and strategy beyond the straightforward win-or-lose scenario of moneyline betting. 

Football and basketball bettors appreciate spread betting because it offers a higher return on investment when betting on favorites. It also reduces the risk when betting on underdogs, as they don't necessarily have to win the game but just keep it close to win the bet.

How Spread Betting Works

• Betting the Favorite: To win a bet on the favorite, the team must win by more than the assigned point spread. If a team is favored by 9 points, it must win by no less than 10 points to be a winning bet.
• Betting the Underdog: To win a bet on the underdog, the team must either win outright or lose by a margin smaller than the point spread. If a team is getting 9 points, it must win outright or lose by eight or fewer points to be a winning bet.
• Push Scenario: If the game’s final score lands exactly on the point spread, it results in a push, where the original stake is returned to the bettor’s account.

Strategic Considerations

Betting on point spreads can result in losses, just as it can with any other wager type, but you can improve your chances of profitability by keeping a couple of considerations in mind.

• Understanding Key Numbers: In football betting, certain margins of victory, such as 3 or 7 points, occur more frequently. Recognizing these "key numbers" can help bettors make informed decisions.

Example: In the 2024 NFL season, a game between the New England Patriots and the Buffalo Bills ended with a 24-21 score, a common 3-point margin. Bettors who considered the key number of 3 may have considered a 2.5 alt spread.

• Evaluating Team Record Against the Spread: Some teams seem habitually overrated or underrated by sportsbooks, but they put up excellent numbers when it comes to covering spreads in their games.

Example: During the 2023-24 season, the Orlando Magic had a 53-31 record against the spread (62.2%); no other team in the NBA was above 60%. On the other hand, the Atlanta Hawks had an ATS record of 29-53 (35.4%), and no other team was below 40%.

• Keep Weather Conditions in Mind: In outdoor sports, weather can influence game dynamics and scoring, affecting a team's ability to cover the spread.

Example: In 2020, the Las Vegas Raiders and Cleveland Browns played a game in extreme winds, and neither quarterback passed for more than 125 yards. That led to a 16-6 final score that likely would've been totally different if either team had a functional passing attack.

This example from BetMGM further demonstrates point spread betting.

• BYU is a 9.5-point favorite at reduced -105 juice to defeat Duquesne at BetMGM. Bettors disinterested in ponying up $500 on the Cougars to win outright on the moneyline have the option to instead spread bet BYU and only lay $105 to win $100.
• The Cougars would need to win the game by no fewer than ten points to secure a winning bet. A $115 spread bet to win $100 on the Duquesne would, in turn, need to see the Dukes either win outright or lose by nine or fewer points.
• Bettors utilizing spread betting pay less in juice, but they need to overcome the handicap of the sportsbook to win the bet.

Spread betting appeals because of its potential for higher payouts on underdogs and its strategic depth.

When comparing moneyline and spread betting, it is crucial to understand the fundamental distinctions and outside influences involved.

Here’s a comparative analysis focusing on those key aspects: 

Whenever you are making a moneyline or point-spread bet, it's important to keep some big-picture, responsible gambling principles in mind. 

Below is a list of responsible gambling principles and tools to be aware of:

• Set a Budget: Use the deposit limits available at all U.S. Sportsbooks to set a fixed and affordable budget. To comply with state regulations, sportsbooks must offer daily, weekly, and monthly deposit caps that will block additional funding once reached. A best practice is to keep your budget within 1-5% of your disposable income.
• Take Breaks: Use the self-exclusion features to block your gambling account regularly. Sportsbooks have cooling-off periods, ranging from 24 hours to several months, to help manage compulsive betting habits.
• Track Your Time: Use time management tools on online sportsbooks that show active time and allow you to set session time limits. These features will alert you and log you out if you go over.
• Monitor Your Betting: Track your account statement tools to review your betting history. Look for warning signs, such as increasing bets, chasing losses, or frequent impulsive bets, that may indicate problem gambling. If you are continually losing money on a particular type of bet, it might be time to move away from that kind of wager.
• Set Loss Limits: Use the automatic stop-loss mechanisms on most online sportsbooks. These will stop you from betting once you’ve lost a certain amount, so you don’t lose too much during a losing streak.
• Know About the Support Available: Save the number for the National Problem Gambling Helpline (1-800-GAMBLER). Many sportsbooks also have links to counseling services and self-assessment tools in their responsible gambling section.

It's essential to understand the dynamics of moneyline and spread betting before placing bets on either at any sportsbook.

Moneyline betting involves predicting the outright winner of a match, while spread betting introduces a handicap to balance the odds. Thorough research and a clear betting strategy aligned with personal goals are crucial for navigating these markets effectively.

Practicing responsible gambling habits and prioritizing the protection of your bankroll ensures a more enjoyable and sustainable betting experience. Continuously seek to enhance your knowledge and skills utilizing both moneylines and point spreads to potentially further contribute to your success at betting on sports.