Money Line Definition
Sports bettors outside the US and Canada can have a tough time understanding money line odds. That’s why we’re going to break it down for you with the money line explained. Sometimes a line will move far enough to create a “middle” opportunity.
We already know that the only thing that causes the moneyline to shift are the bets that are coming in. However, we should talk about what factors will cause the betting patterns of the public to change, and in turn, cause the moneylines to move. This will go hand in hand with the following betting strategy section. If you can master predicting when and how lines are going to move, you will crush sports betting and moneyline betting. The number that follows the plus or minus sign will indicate how big of a favorite or an underdog the team is.
For example, a -200 money line means you would win $100 if you bet $200 and won. It is also equivalent to fractional odds of 1/2 and decimal odds of 1.5. When a money line is a positive number then the odds are the amount you would win if you were to bet $100 and were correct. For example, a money line of +200 would mean that you would make a profit of $200 if you bet $100 and were correct. That’s also equivalent to fractional odds of 2/1 and decimal odds of 3. Moneyline bets are among the most popular in sports betting, and anyone new to the space should familiarize themselves with this wager type.
Upsets happen, though, and good handicapping will often isolate situations where the likelihood of an upset exceeds the risk of the bet. Money line bets tend to be even more popular with underdogs. A nice profit can be made if a touchdown or more underdog pulls off an outright win.
The biggest advantage of the moneyline for the NBA is that your team doesn’t have to overcome the point spread for you to win your game. This is particularly attractive in basketball because the favorites can often face large point spreads and teams can win comfortably and effectively without covering the spread. Essentially, a moneyline bet is a bet on which team is going to win the game. There is no point spread or other handicap for either team, so if you pick a team and it scores more points than the other team then you win. Obviously there has to be a catch, though, or the bet would be way too simple. The sportsbooks balance their risk by setting different prices on each team.
The first column is just an identifier of which bet is which for the sportsbook. When you place your bets, you can tell the sportsbook you want to bet on the Eagles to win or that you want to take bet 055. This number has nothing to do with the actual game and is just a code for the sportsbook to keep their bets organized.
You might be thinking, “How on Earth am I going to figure out the percentage chance a team is going to win? ” Well, we cover this in depth in the referenced guide, but there are really two ways. The first is utilizing a mathematical formula that takes into account the factors that you think are important . What you may want to look at to help you decide is our next strategy tip – implied probabilities. If you are serious about taking your game to the next level, we highly recommend you read this advanced guide on understanding value. It will walk you through everything you need to know to start picking winners that will increase your bottom line.
You simply pick a team or an athlete that you think will win and you place your bets accordingly. After all, the entities we are wagering on are just trying to win the game, rather than win or not lose by a certain amount. When we bet on the money line, we are betting on the precise thing that teams are trying to accomplish, which is naturally to win the game. In this example the Jets are listed as four-point favorites (-4) over the Bills and the 49ers are three-point underdogs (+3) against the Seahawks. So, if you bet $110 on the favored Jets, they must defeat the Bills by more than four points in order to win $100.
Sports betting is not legal in South Dakota, but residents passed a ballot initiative in the November 2020 election, which means it’s on its way. Sports betting is legal in Virginia and residents began betting via FanDuel in January 2021. Khabib was a -290 favorite over Tony Ferguson, who was a +230 underdog. Moneylines will be formatted in American odds at a sportsbook like FanDuel. If you want to bet moneylines now, FanDuel will give you a $500 risk-free bet. That number also indicates how much money you need to bet/spend in order to win $100.
A big line move closer to the start of the actual game is usually a large chunk of recreational bettors betting one way or the other. This is not an absolute rule, but it does tend to ring true from what we’ve been told by sportsbook executives. Your profit on a $100 bet if the Eagles win would be $33.33. Notice that we didn’t use (-300) in our formula; we just used 300.