When Betting What Does Money Line Mean
Thus, one must bet $380 to win $100 (bet would return $480 total – the winnings and the stake). Lions upset believers can wager $100 to win $290 (bet would return $390 total). This number reflects the potential winnings on a $100 stake.
To figure out how much vig is in a market, one must perform some simple math based on the moneylines offered. This page has more information about the math behind the vig. The price established on one or other is a function of how competitive or talented each side is — independently and based on the particular matchup. Put simply, the bookmakers will assign a certain price that they think accurately reflects what it should cost the bettor to pick each side to win the game.
For a $100 bet on Titans, you’d turn a profit of $185 for a final payout of $285. This also means that your wager won’t profit as much as it would if it was a positive number. For instance, a $100 wager on +220 odds would return a profit of $220. However, a team with -220 odds would require a $220 bet to return a profit of $100. This doesn’t mean that it’s never worthwhile to bet on favorites. It’s just important to recognize the right opportunities.
The odds say that the team is only going to win the game a little under 3 times for every 100 times they play. There is value there, but it depends on your betting strategy if you want to make that bet. Now that we’ve covered a lot of the basics concerning moneyline bets, let’s talk about the fun stuff – how much you’re going to make on your next correct moneyline bet. Remember, most online sportsbooks will automatically calculate the amount you are going to make on a moneyline bet before you even make the bet. You’re able to put in the amount you want to bet, and they will tell you immediately how much you would win from a correct pick. For example, many sportsbooks only offer an option to bet on the NFL moneyline if the spread is between 3 and 10 points.
In the world of sports betting, a money line bet is simply betting on which team you expect to win. An evens or pick ’em bet is when two teams are so close in terms of level of play that the sportsbook decides to price them as equally likely to win or lose. In such a case, bettors would receive the same amount of money bet on the pick. In this instance, bettors would win $100 on a $100 wager, thus totaling $200.
So a $100 wager at odds of +100 would yield a $200 payout ($100 wager returned + $100 winnings). For a $100 bet at odds of +150, you’d receive a payout of $250 ($100 stake + $150 of winnings). For example, if one team has odds of +150, a $100 bet would pay out $250 ($150 of winnings + your $100 wager). Whereas, you’d have to bet $150 on -150 odds to receive a $250 payout ($100 of winnings + your $150 wager). They’re most common in sports that have low scores, such as soccer, baseball, and hockey, but they’re also popular among football bettors.
As we mentioned earlier in this guide, the sportsbook’s goal is to get the correct amount of money bet on each side of a game so that they have zero risks. While they aren’t always able to do this perfectly, the closer they get, the less risk they have, and the surer profit they can lock up. If you’re betting in a brick-and-mortar sportsbook, though, you’re going to have to figure this information out yourself.
As a general rule, one should expect fairly low vig in moneyline markets compared to many other types of bets like props and futures. That is, moneylines are usually a bit more bettor-friendly. In the San Francisco/Detroit example above, the market has 4.58% vig. That’s just a hair more than a typical spread betting market with -110 on both sides, which has 4.54% vig.