What Does Moneyline Mean in Betting? A Beginner’s Guide to Moneyline Wagers

16 min read
Aug 21, 2024, 8:17 AM
Author
Nick Ashbourne
Nick Ashbourne
Senior Writer
Last Updated: Sep 19, 2024, 2:54 PM

Understanding Moneyline Bets

Moneyline bets are a fundamental type of wager in sports betting. They involve betting on a team to win a given contest outright, without any consideration for the margin of victory. This straightforward bet appeals to many sports bettors due to its simplicity and directness.

In moneyline betting, the odds reflect the likelihood of each outcome occurring. These odds determine both the amount a bettor needs to wager and the potential payout if their bet wins.

Understanding how to read and interpret moneyline odds is crucial for anyone looking to engage in this form of sports betting.

What is a Moneyline Bet?

A moneyline bet is a wager on which team or player will win a specific sporting event. Unlike a point-spread bet, where the margin of victory matters, moneylines focus solely on the outright winner. 

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This makes them particularly popular in sports where scoring is low or margins of victory tend to be narrow, such as baseball or soccer. It is also common to make a parlay bet that includes more than one money-line bet.

When placing a moneyline bet, bettors choose which side they think will win. If their chosen team wins they have placed a winning bet, regardless of the final margin of victory. 

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The simplicity of this concept makes moneyline betting accessible to novice bettors while still offering strategic depth for more experienced individuals.

These bets can be placed on a wide variety of sports and events, from major league games to individual matches in tennis or boxing. This versatility contributes to the popularity of moneyline betting across different sports and betting markets.

How to Read Moneyline Odds

Moneyline odds are typically presented in American odds format, which uses positive and negative numbers to indicate the favorite and underdog. 

Understanding how to read these odds is essential for calculating potential payouts and assessing the implied probability of each outcome.

In American odds, the favorite is denoted by a negative number, while the underdog is represented by a positive number. For example, in a matchup between two teams, you might see odds displayed as Team A -150 vs. Team B +130. Here, Team A is the favorite, and Team B is the underdog.

The number associated with the favorite (-150 in this case) indicates how much you need to bet to win $100. Conversely, the number for the underdog (+130) shows how much you would win on a $100 bet. If the odds are precisely +100 it is considered an even-money bet because the profit matches the total wagered.

This system allows bettors to quickly assess the potential risk and reward for each side of the moneyline.

Moneyline Favorites and Underdogs

In moneyline betting, the concepts of favorites and underdogs play a crucial role in understanding the odds and potential payouts. 

The favorite is the team or player considered more likely to win, while the underdog is deemed less likely to emerge victorious.

Favorites are associated with negative odds numbers, reflecting the lower potential payout due to their higher probability of winning. For instance, a -200 favorite would require a $200 bet to win $100. 

Underdogs, on the other hand, offer higher potential payouts due to their perceived lower chance of winning. A +150 underdog would pay out $150 on a $100 bet if they win.

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It's important to note that being the favorite or underdog doesn't guarantee an outcome. Upsets occur regularly in sports, which is part of what makes moneyline betting both exciting and challenging for bettors.

The Favorite and Underdog

The designation of favorite and underdog in moneyline betting is determined by oddsmakers based on various factors, including team performance, injuries, home-field advantage, and public perception. 

These designations can shift as circumstances change or as betting activity influences the odds.

Understanding the relationship between favorites and underdogs is crucial for developing effective betting strategies. While favorites offer more security, they often require larger wagers to achieve significant payouts. Underdogs, though riskier, can provide substantial returns on smaller bets when they win.

Bettors must weigh the risk and potential reward when deciding between favorites and underdogs. 

Moneyline Betting vs. Point-Spread Betting

While moneyline betting focuses solely on which team will win, point spread betting introduces an additional factor: the margin of victory. 

In point-spread betting, the favorite must win by more than a specified number of points, while the underdog can lose by less than that number or win outright for the bet to be successful.

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This fundamental difference affects how bettors approach each type of wager. Moneylines are often preferred in sports with low scoring or close contests, where predicting an outright winner is the primary concern.

Point-spread wagers, however, are more common in high-scoring sports like football or basketball, where larger margins of victory are more frequent.

Key Differences

One key difference between moneyline and point-spread betting lies in the potential payouts. 

Moneyline odds can vary widely, especially when there's a significant favorite, leading to situations where a bettor might need to risk a large amount to win a relatively small sum on a heavily favored team. Point spreads typically offer more balanced odds, often close to even money for both sides.

Another important distinction is the level of complexity. Moneyline bets are straightforward – pick the winner, and if they win, you win. 

Point-spread bets require understanding the concept of "covering the spread," which can be more challenging for novice bettors to grasp.

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The choice between moneyline and point spread betting often depends on the specific sport, the matchup in question, and the bettor's personal preferences and risk tolerance.

Many experienced bettors use both types of wagers as part of their overall betting strategy.

How to Make a Moneyline Bet

Making a moneyline wager involves several steps, from selecting a sportsbook to placing the bet. The process begins with choosing a reputable sportsbook that offers moneyline betting on the desired sport or event. 

Many online sportsbooks provide a range of betting options, which are almost certain to include moneyline wagers.

Once a sportsbook is selected, the bettor needs to navigate to the specific game or event they wish to bet on. 

The moneyline odds for each team or player will be displayed, typically in American odds . After identifying the desired bet, the bettor enters the amount they wish to wager on their bet slip.

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Most sportsbooks provide a confirmation message or ticket number for the bet. It's advisable to keep this information for reference, especially when claiming winnings or addressing any discrepancies.

It's important to note that the availability of certain bets may be subject to local regulations. Bettors should always be aware of the legal status of sports betting in their jurisdiction and bet responsibly.

Calculating Moneyline Odds

Understanding how to calculate potential payouts from moneyline odds is essential for informed betting. 

The calculation method differs slightly depending on whether the odds are positive or negative.

For positive odds (underdogs), the calculation is straightforward. The odds number represents the amount won on a $100 bet. For example, with odds of +150, a $100 bet would yield a $150 profit plus the return of the original $100 stake, for a total payout of $250.

Negative odds (favorites) require a different approach. The odds number indicates how much must be bet to win $100. With odds of -200, a bettor would need to wager $200 to win $100, plus the return of the original stake, for a total payout of $300.

Handicapping Your Moneyline Bet

Handicapping in moneyline betting involves analyzing various factors to make an informed decision about which team or player is likely to win. 

This process goes beyond simply looking at win-loss records and requires a deeper understanding of the sport and the specific matchup.

Effective handicapping considers elements such as team form, head-to-head records, injuries, home/away performance, and even intangibles like team morale or motivation. By thoroughly evaluating these factors, bettors aim to identify value in the odds offered by sportsbooks.

It's important to note that successful handicapping is an ongoing process that requires consistent research and analysis. As conditions change, so too might the outlook for a particular bet.

Factors to Consider

When handicapping moneyline wagers, several key factors should be considered:

  1. Recent performance: How have the teams or players been performing in their most recent contests?
  2. Head-to-head history: What is the historical record between these two competitors?
  3. Injuries and lineup changes: Are any key players injured or returning from injury?
  4. Home/away dynamics: Does either team have a significant advantage or disadvantage based on the venue?
  5. Motivation factors: Are there any special circumstances (e.g., rivalry games, playoff implications) that might affect performance?
  6. Statistical analysis: What do the underlying statistics suggest about each team's strengths and weaknesses?

By carefully weighing these and other relevant factors, bettors can make more informed decisions when placing moneyline wagers.

Line Movement and Odds Changes

Moneyline odds are not static; they can change leading up to an event based on various factors. Understanding how and why odds change is crucial for bettors looking to maximize value in their wagers.

Odds movement can be triggered by several factors, including injury news, changes in weather conditions (for outdoor sports), or significant betting activity on one side of the line. Sportsbooks adjust odds to balance their books and manage risk, which can create opportunities for alert bettors.

How Odds Change

When a sportsbook receives a large volume of bets on one side of a moneyline, they may adjust the odds to encourage betting on the other side. This helps the book maintain a balanced position and minimize potential losses.

For example, if a team opens at -150 and receives a flood of bets, the sportsbook might move the line to -170 or even -200. This makes betting on that team less attractive while simultaneously offering better value on the underdog.

Monitoring line movements can provide insights into market sentiment and potentially reveal value betting opportunities. 

However, it's important to form independent judgments rather than simply following the crowd.

Moneyline Betting Strategies

Developing effective strategies for moneyline betting involves a combination of thorough research, disciplined bankroll management, and an understanding of value. 

While no strategy guarantees success, certain approaches can improve a bettor's chances of long-term profitability.

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One common strategy involves focusing on underdogs, particularly in sports where upsets are more frequent. This approach can lead to fewer wins but higher overall profits due to the more favorable odds on underdogs.

Another strategy is to specialize in a specific sport or league, developing deep knowledge that can provide an edge in identifying value bets. 

This focused approach allows bettors to spot discrepancies between their assessments and the odds offered by sportsbooks.

Tips for Success

To improve chances of success in moneyline betting, consider the following tips:

  • Shop for the best lines: Different sportsbooks may offer slightly different odds. Finding the best available odds can significantly impact long-term profitability.
  • Manage your bankroll: Set a budget for betting and stick to it. Avoid chasing losses or betting amounts that could jeopardize your financial stability.
  • Keep detailed records: Track all your bets, including the reasoning behind them. This can help identify patterns and improve future decision-making.
  • Stay informed: Keep up with news and developments that could impact the outcomes of your bets.
  • Understand value: Learning to identify value in odds is crucial for long-term success in moneyline betting.
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Remember, responsible betting is key. Never bet more than you can afford to lose, and seek help if you feel your betting is becoming problematic.

Common Moneyline Betting Mistakes

Even experienced bettors can fall into common traps when placing moneyline wagers. Recognizing and avoiding these mistakes is crucial for developing a successful betting strategy.

One frequent error is overvaluing favorites, particularly in sports where upsets are common. While favorites are more likely to win, the odds often reflect this likelihood, meaning that consistently betting on favorites can lead to losses over time if not done selectively.

It's also common to ignore the importance of line shopping. 

Failing to compare odds across different sportsbooks can result in missing out on better value, which can significantly impact long-term profitability.

Avoiding Pitfalls

To avoid common pitfalls in moneyline betting, consider the following:

  1. Don't chase losses: Increasing bet sizes to recover previous losses often leads to even greater losses.
  2. Avoid betting on every game: Being selective and only betting when you identify value is crucial for long-term success.
  3. Don't ignore the odds: Always consider the implied probability reflected in the odds when making betting decisions.
  4. Beware of biases: Personal preferences for certain teams or players can cloud judgment. Strive for objectivity in your analysis.
  5. Don't neglect bankroll management: Failing to properly manage your betting budget can lead to significant financial risk.

By being aware of these common mistakes and actively working to avoid them, bettors can improve their chances of success in moneyline betting.

Moneyline Betting FAQ

Moneyline Betting

What does moneyline mean?

In betting, moneyline refers to a type of wager where you simply pick which team or player will win a contest outright, without any point spread.

Moneyline Odds

How do I calculate moneyline odds?

For positive odds, the number represents the profit on a $100 bet. For negative odds, it's how much you need to bet to win $100. 

Always remember to add your original stake to determine the total payout.

Comparison to Point-Spread Betting

Are moneyline bets better than point-spread bets?

Neither is inherently better; it depends on the specific situation and your betting strategy. 

Moneyline bets are simpler but can offer less favorable odds on heavy favorites. There is no surefire way to win betting, regardless of the format of your wager.

Setting Odds

How do sportsbooks determine moneyline odds?

Sportsbooks use a combination of statistical analysis, expert opinion, and market factors to set initial odds. 

These odds may then be adjusted based on betting activity.

Odds Changes

Can moneyline odds change?

Yes, moneyline odds can and often do change leading up to an event based on factors such as injury news, betting patterns, and other relevant information.

Professional Gambling

Is it possible to make a living from moneyline betting?

While some professional bettors do make a living from sports betting, including moneyline bets, it's extremely difficult and risky. 

Most people should approach betting as entertainment rather than a source of income.

Problem Gambling

How do I know if I have a gambling problem?

Signs of a gambling problem include betting more than you can afford to lose, chasing losses, and betting interfering with work or relationships. 

If you're concerned, seek help from a professional or a gambling addiction hotline.

<p>Nick has been fascinated with sports since he was first taken to a Toronto Maple Leafs game back in 1998, and he's written about them professionally since 2014.</p><p>Nick has covered baseball and hockey for outlets like The Athletic, Sportsnet, and Yahoo Sports, and his sports betting expertise has grown since its legalization in Ontario in 2022.&nbsp;</p><p>Between 2022 and 2023 he worked for a betting startup called NorthStar Bets, and in 2024 he contributed to Oddspedia before joining the Responsible Gambler team.</p>
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Meet our Authors

Paruyr Shahbazyan began his business career in 2000 as a private entrepreneur. Over thirteen years, he developed a deep understanding for business and leadership, laying a solid foundation for his professional journey.

In 2013, Paruyr stepped into the sports and betting industry as the founder and president of Bookmaker Rating. This online mass media platform, which he led until 2020, focused on providing in-depth analysis and insights in sports betting, earning a reputation for its quality content. 

Continuing his innovative approach in 2022, Paruyr co-founded Azuro, a decentralized betting protocol. This venture showcases his dedication to integrating advanced technology in the evolving landscape of sports betting. Through these diverse experiences, Paruyr has continuously influenced and shaped the betting industry, driving new trends and setting high standards.

 ExperienceYear
Engaged in private entrepreneurship2000-2013
Founder and President at Bookmaker Rating, an online platform focused on sports and betting2013-2020
Co-founder at Azuro, a decentralized betting protocol2022

"Innovation in sportsbetting comes from a deep understanding of both technology and the human element of sports." 

- Paruyr Shahbazyan, Founder, RG

 

Principles and Ethics

Paruyr Shahbazyan's core beliefs lie in the power of informed decision-making and integrity in the betting industry. He understands that the foundation of successful betting is not just about odds and predictions, but also about the trust and reliability of the information provided. Paruyr advocates for a betting environment where transparency and knowledge are paramount, ensuring that bettors are well-equipped with accurate data and insights.

Strategic Vision

Paruyr's vision is to revolutionize the sports betting industry through the integration of technology. He sees the future of betting as a blend of traditional sports knowledge with innovative tech solutions, like decentralized protocols, to enhance user experience and fairness. His aim is to create platforms that are not only user-friendly but also uphold the highest standards of ethical betting, contributing to a more responsible and enjoyable betting culture.

Future Perspectives

Looking towards the future, Paruyr envisions a betting landscape that is more inclusive, technologically advanced, and globally connected. He anticipates a significant shift towards more decentralized and transparent betting systems, driven by blockchain technology. Paruyr is committed to being at the forefront of this change, continuously exploring new possibilities and innovations that can redefine what it means to engage in sports betting in a digital world. His focus is on building systems that prioritize user empowerment, fairness, and the global growth of the sports betting community.

 

Sol Fayerman-Hansen
Sol Fayerman-Hansen
Editor-in-Chief

Sol has over 20 years of experience in writing for diverse industries including sports, gambling, regulation, technology, and startups. As the Editor-in-Chief at RG, Sol brings a wealth of knowledge and expertise to the role, focusing on delivering transparent, evidence-based content grounded in thorough research. Sol's mission is to empower readers to enjoy gambling responsibly and make informed decisions, enhancing their overall experience through insightful and engaging content. Under Sol's leadership, RG prioritizes the highest standards of integrity and reliability, ensuring that all information provided is accurate and trustworthy. Sol's dedication to transparency and research-based writing helps create a responsible gambling environment where readers can truly benefit from the content. This commitment to excellence has positioned RG as a leading source of information in the gambling industry.

Experience:

  • Over 20 years in writing and editing across multiple industries
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Cristina Varela Galan
Cristina Varela Galan
Problem Gambling Expert

Cristina used to work as a Psychology Assistant in the Bizkaia Pathological and Risky Gamblers Association. She was also part of a research team in Deusto University, specializing in pathological gambling area. While working there, she managed to develop her own project 

 “Exploring the association between emotional regulation, alexithymia, stressful life events and gambling in adolescent and young adult women”.

Nick Ashbourne
Nick Ashbourne
Senior Writer

Nick has been fascinated with sports since he was first taken to a Toronto Maple Leafs game back in 1998, and he's written about them professionally since 2014.

Nick has covered baseball and hockey for outlets like The Athletic, Sportsnet, and Yahoo Sports, and his sports betting expertise has grown since its legalization in Ontario in 2022. 

Between 2022 and 2023 he worked for a betting startup called NorthStar Bets, and in 2024 he contributed to Oddspedia before joining the Responsible Gambler team.

Sergey Demidov
Sergey Demidov
Head of News Department

Sergey has been in sports journalism since 2007 as a reporter, editor, and manager. He has covered the Olympic Games, soccer World Cups, the World Cup of Hockey in 2016, the European championships, the Stanley Cup Finals, IOC events, and many others. Sergey interviewed the sport's greatest athletes, coaches, and executives. Since 2016, he has been an Independent Senior Editor of NHL.com/ru.

Anna Kravtcova
Anna Kravtcova
Problem Gambling Expert

Ph.D. in organizational psychology, an internationally certified psychologist (EuroPsy 2022, Cognitive behavioural therapy of mindfulness 2020, International Society for Emotional Intelligence 2017, Russian Psychological society 2014, American Psychological Association(Society for Industrial and Organizational Psychologist) 2011), speaker of many international conferences (USA, Brazil, Portugal, Czech Republic, Russia, etc.). TEDx speaker.

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