Money line betting is a common practice that both gamblers and those who are not gamblers get into either knowingly or unknowingly. A Moneyline bet is simply a bet that is placed for a specific team or player to win a given match or race or contest. So if you bet on a team or person to win, you place money on that bet.
The moneyline bet is known as the win-bet in different nations, even though the principle of its working is generally the same.
The moneyline bet representation is in various formats including Moneyline, fraction, or decimals. The three forms all represent the same information based on the person or team that you are placing your bet on, the favorite and who the underdog is and the amount that you may make if the Moneyline bet goes in your favor.
How does money line work?
Money line betting works in a rather simple way. The bet has two contenders, the favorite and underdog. The favorite, in this case, is the person expected to win the contest or match. The underdog is the individual or team expected to lose the competition. If you feel that the underdog will win, you select them and place a bet on them, and if you think the favorite is going to win, then you place a bet on the.
The moneyline bet placed has two categories. Like we mentioned above the underdog has less probability of winning as compared to the favorite. The two are assigned varying odds indicated by either a minus (-) sign for the team likely to win. The plus (+) sign is a representation for the underdog.
A big spread means that the payout for the underdog is going to be big as compared to the favorite. The significant point spread is indicative of the chances that the best team will win the game or competition.
How to Read Moneyline Betting Odds
When you want to participate in Moneyline betting, your main aim is to pick on the individual or team that is going to win. One of the chances is for the favorite generally indicated with a negative value. The other bet will be for the underdog who is going to have his odds with a positive value.
The negative and positive values given are indicative. They indicate the amounts that you need to bet on either the favorite or the underdog for you to get a profit of $100.
In other words, if an individual or tea has a Moneyline odd of -150, you will need to stake $150 for you to win 100% profit successfully. The point spread in this regard doesn't factor into the Moneyline bet, though you need to consider it continually.
Money line Example
To understand Moneyline betting, let us check on these two examples
Green Bay Packers +130 vs New York Giants -145
In this case, as mentioned before, the Green Bay Packers are the underdogs since they have a positive value on their money line odds. The New York Giants in this regard are the favorites. For an individual to win $100, they will have to stake $145 on the Giants to win the game as the favorites.
On the other hand, an individual who places a bet on the Green Bay Packers will win $130 for each bet they place since they are the underdogs. If the individual stakes $10, they earn an additional $13 on the amount staked to give $23.
New York Giants -120 vs New Orleans Saints +130
This second example presents the New York Giants as the favorites due to the negative odd while the New Orleans Saints are the underdogs due to the plus sign. Same as the first example, staking $120 on the New York Giants enables you to win $100 if they win while a stake of $100 is required to win $130 if you stake on New Orleans and they win.
Moneyline odds to decimal odds
Moneyline takes typically in the odds in positive and negative numbers. The odds in the market have representation in terms of American, decimal, or fractional odds in the markets. Converting between the Moneyline odds and the decimal is not a very hard process.
To change a negative Moneyline odd to a decimal, in this case, a negative odd, divide 100 by the Moneyline odd that is negative then add 1 to it.
(100/ Moneyline Odds)+1 = Decimal Odds
(100/200)+1= 0.50+1 = 1.50 (Decimal Odds)
In the case of converting a positive Moneyline odd to a decimal, divide the positive Moneyline value by 100 then add 1 to it.
(Moneyline Odds/100)+1 = Decimal Odds
(200/100)+1= 2+1 = 3.00 (Decimal Odds)
Moneyline is a good bet if you are good at determining underdog upsets since this gives you a huge win and big profits. It is essential to understand the abilities of the two competing sides and place your bet. So, yes, Moneyline is a good bet.
A negative Moneyline means the individual or team in this regard is a favorite to win the competition.
A positive Moneyline is indicative of a team or an individual in the competition being an underdog.
When you decide to use Moneyline betting as a means to gamble or place a bet, the main concern is the team or individual that wins the game or match. Moneyline betting is mostly applicable in situations where there are only two outcomes anticipated. In this regard, either a win or a loss.
A spread or a point spread is interested in the win and the margin of the victory.
Moneyline betting is one of the simple ways to place a bet and also provides a good start for individuals new to sports betting. It is easy to find value, but you should take caution as it has no room for error.