In all of sports betting, a money line bet is a simplest and most uncomplicated wager. It’s a wager with two or three possible outcomes, depending on the sport. When two players or teams are offered on a money line bet, bettors must pick one of them to win. It has nothing to do with the margin of victory (sports betting point spread), the total number of points scored by both sides (sports betting Over/Under), or anything else — it’s just a wager on which team you think will win the game.
Baseball and hockey, including sports like boxing and tennis, are the greatest attractions to wager on the betting line. Money line bets are popular in sports including the NFL, college football, NBA, and NCAA basketball.
How to read Money line
Money lines are determined by each team’s estimated likelihood of winning the game, and because no two teams are the same, money line odds will differ from one game to the next. Games in which the competition is predicted to be close will have less fluctuation in the money line odds between the two teams. The money line for Super Bowl LIV above is an example of a game that was expected to be competitive.
How does Money line Betting Work?
Money line payout bets may vary based on the perceived power of the man or woman rivals in the sportsbook. Because the cash line payments replicate the situation, it’s no longer as easy as having a bet properly teams to beat poor teams. That is, you will chance a lot to win a little via “laying” a bet with the sportsbook.
Different sorts of odds formats using in some components of the world. American odds are calculated using a plus (+) and minus (-) device based on $100 bets. A poor signal (-) using to point out the preferred team, which is then accompanied by using a number. The discern represents the amount of cash wanted to win $100. So, if the odds are -400, you must wager $400 to win $100. A plus sign with a number will be used for the underdog. This figure represents the possible winnings on a $100 bet. So, on a $100 bet, +400 indicates you’d win $400.
Three components of a Money line
A money line wager has three components: the favorite, the underdog, and “even” or “pick ’em.”
1. THE FAVORITE
The most loved is the player or group considered as a more prominent chance to win. Utilizing $100 as a notable having a wagered unit, a bettor would need to bet the sum recorded (for example – 150) to win $100. In this example, a bettor would need to bet $150 to win $100. Assuming that the bet successes, the sportsbook would pay $250, which is the stake ($150) in addition to the success ($100). A most loved is persistent addressing with a negative sign (- ) on the cash line.
2. THE UNDERDOG
The underdog is a player or team that is thought to have a lower chance of winning. Using $100 as the normal betting unit, a bettor would have to bet $100 to win the amount mentioned (i.e. +150) for an underdog victory. In this case, a bettor would bet $100 and win $150, for a total payout of $250. On the money line, an underdog is always symbolizing a plus sign (+) and will pay out more money than the original wager.
3. EVEN/PICK ‘EM
An ‘even’ or ‘pick ’em’ sport takes place when two teams are so close in terms of stage of play that the sportsbook decides to price them as equally probable to win or lose. In such a case, bettors would acquire the identical quantity of money for a profitable wager on either side. In this instance, bettors would win $100 on a $100 wager, for this reason totaling a $200 payout. Pick ‘em sport will generally have the phrase ‘even’ (EV) or ‘pick ‘em’ (PK) listed on the money line.
It would represent through the equal wager quantity (+100), or a combination of the terms such as (Even +100). A winning even or choose pick ‘em play by way of a bettor will pay out the equal quantity wagered.
How to bet
When you place a basic money line bet, you’re simply picking the winner of a single game outright. This is the simplest simple wager you can make. There aren’t any other possibilities.
- New England Patriots +110
- Miami Dolphins -130
To bet the New England Patriots team to win on the money line, you would need to spend $110 on the bet for a chance to win $100 if the Patriots beat the Dolphins. Your return would be $210 – the original $110 stake (bet) and the $100 bet profit.
If you bet $100 on the Miami Dolphins to win on the money line, you stand a chance to win $130 if the Dolphins beat the Patriots as the underdog. The total return would be $230, which includes the original $100 commitment (bet) as well as the $130 profit.
It makes no difference whether the team you bet on wins by one point or 100 points in either circumstance. You’re putting your money on the team you think will win the game.
Popular Sports with Money line Odds
Across the board, the money line odds will be similar. The betting favored defining a positive number, while the underdog is a negative number. Money line odds are available for almost every sport, including the following leagues:
- National Football League
- National Basketball Association
- Major League Baseball
- National Hockey League
- Ultimate Fighting Championship
What is the best way to win a Bet?
It’s simple to win a money line bet: just choose the winner. The amount you win, however, determining by the money line odds you bet and the amount of money you stake. The lower a team’s money line odds return, the higher their chances of winning the game (and the lesser the risk). The bigger the possible payout for the money line, the lesser the chance of winning (and the higher the risk).
While knowing how to place money line bets is beneficial, it won’t help you if you don’t know how to optimize your profits and limit your losses. If you’re ready to take your bankroll to the next level by using money line bets, buckle up because the class is about to begin. When we look at the odds associated with a money line bet, we know that it allows us to calculate the amount we will win if we are correct. It also allows us to compute the % probability that the wager must-win for us to break even.
The implied probability is the term for this. We go through this in greater detail in the advanced guide on the value that we mentioned before, but we’ll give you a quick overview here. If you can figure out the percentage chance you need to win to break even, and you can figure out the percentage chance you think you’ll win the bet, you can rapidly determine whether there is value.