Sports Betting 101
If you want to see what your profit is, all you have to do is subtract out your initial bet of $100. This shows us that we should get a profit of $33.33 on a correct Eagles bet. We will use our previous example of the Eagles and the Falcons game.
For example, if the Phoenix Suns are even money to beat the Golden State Warriors, a $100 bet on the Suns would yield a $100 win. The same goes for a bet on the Warriors, as there is no favorite or underdog. Pushes will pop up from time to time when it comes to point spread bets or total bets. They’re incredibly uncommon, however, in moneyline betting. The most popular sports bets are based on the point spread.
Simply put, with a plus-sign, that’s how much you win if you bet $100. With the minus-sign, that’s how much you need to bet to win $100. It’s not that hard and understanding this will mean you just mastered a very important principle in sports-betting that will carry you through a lifetime of wagering. One thing to bear in mind about moneylines is that point spreads for the same match can reveal further information about the rationale behind where the line is. In this case, DraftKings has set McNeese State as a mere 0.5-point favorite, so the game really could go in either direction.
During the 2019 season, New York was an underdog (+162) when they visited Boston. Five days later they were (-130) favorites when the Red Sox visited the Bronx. Bettors earned $162 on $100 bets when New York won in Boston but the return fell to $76.92 when they won at home. Home field advantage isn’t always a top consideration when betting on baseball moneylines. A moneyline bet in sports refers to a wager on the winning team.
The (-) indicates the favorite team to win, and the (+) indicates the underdog, or the long shot. You can use moneyline betting in football, hockey and basketball. Betting on underdogs on the money line has a definite appeal. You can come out ahead without even winning 50% of your wagers.
Disregard the minus sign when plugging the number into this equation. The sportsbook will continue tweaking the line like this all the way up until they close for bets on a particular game. They’ll move it back and forth as necessary to try and get that perfect amount of money on each side of the contest. We’ll discuss this line movement and its importance to you much more in-depth in a coming section.
It is the simplest form of betting and it is also the primary way to bet sports in which a point spread isn’t available . Money line wagers are also available in football and basketball, but the point spread wager is much more popular. It is also used in tennis, golf, boxing, MMA, cricket, table tennis, and any other sport you can think of that has a winner at the end of the game. There are pros and cons with any type of betting and that applies to money line wagering, as well. It’s nice to bet on the exact thing teams are trying to do, which is to win and not have to deal with the abstract point-spread.
Tying odds in the -300 to -500 range together on parlay tickets can help bettors gain some value on high priced moneylines. Colorado legalized in-person and mobile sports betting November 2019 after a bill was signed by the governor and then approved by voters. Iowa legalized sports betting in 2019, becoming the 11th state to pass a bill. Iowa legalized sports betting in May 2019, becoming the 11th state to do so. Sports betting is not legal in Maryland, but residents voted Yes to legalize sports gambling in the November 2020 election.
Let’s take a look at the (-) and (+) associated with money line odds. Every time you see a minus sign (-), it means that’s how much money you must bet in order to win $100 on this team. Point spread betting requires a degree of arithmetic fluency, but moneyline bets are far easier to understand.