Another day, another Betting Signals football odds calculation term is explained. In this article, we provide additional information regarding the most common wager overall, moneyline.
When you place your bet on the moneyline, you actually choose the simplest and the most direct wager in the world of sports betting. This bet has two or three outcomes regarding the sport. Dive deep into our guide and find the answer to the question: what does the moneyline mean in football betting?
How Do You Bet The Moneyline?
Betting the moneyline is a straightforward process, and it means predicting which team or player will win a particular game or event. If you want to compare moneyline vs spread wagers, check out our article about spread betting. Here’s a step-by-step guide on how to bet the moneyline.
Understand the Moneyline Odds
Familiarize yourself with how moneyline odds are presented. A negative (-) moneyline represents the favorite, indicating the amount you need to bet to win $100. A positive (+) moneyline represents the underdog, indicating the potential profit on a $100 bet.
Choose the Team or Player
Decide which team or player you believe will win the game or event.
Place Your Bet
Visit a sportsbook, either online or in person, and find the section for the specific event you want to bet on.
Specify the Amount
Decide how much money you want to wager on your chosen team or player.
Confirm and Place the Bet
Confirm the details of your bet, including the team or player, the amount you’re betting, and the moneyline odds. Once everything is correct, place your bet.
Receipt and Confirmation
If you’re betting in person, you’ll receive a physical ticket with the details of your bet. If you’re betting online, you’ll see a confirmation screen with the details of your wager.
Wait for the Outcome
Watch the game or event and await the outcome. If the team or player you choose wins, you’ll receive your winnings based on the money line odds.
Collect Winnings
If your bet is successful, you can collect your winnings. This typically involves returning to the sportsbook in person or accessing your online betting account.
Remember that the potential payout on a moneyline bet includes both your initial wager and any profit. Additionally, remember that negative moneylines indicate how much you need to bet to win $100, while positive moneylines show the potential profit on a $100 bet. Adjust your bet amount accordingly.
Understanding Football Moneyline
When looking for potential bets, you will encounter the three most common components of a moneyline wager: the favorite, the underdog, and the draw or “even”. To explain moneyline options, we used an example from the common question: What happens if you bet $100 on a money line?
The favorite
The favorite is the team perceived as more likely to win. If we use $100 as a common betting unit, a bettor would have to place the amount listed (for example -150) in case to win $100.
A bettor would have to wager $150 to win $100 on this occasion. If the bet wins, the sportsbook will pay $250, which is actually the stake ($150) plus the win ($100). A favorite team is always represented with a minus sign (-) on the moneyline.
The underdog
The underdog is the team treated less likely to win the match. If we use the same amount of $100 as a betting unit, a bettor would have to place $100 to win the specific amount (i.e., +250) for an unlikely winner.
In this case, a bettor would wager $100 to win $250, thus totaling $350 for the payout. There is a plus sign (+) when choosing the underdog, and bookies will pay out more than the original amount primarily wagered by a bettor.
Draw or Even
A “draw” or “even” in a game happens when two teams exhibit similar performance levels that the sportsbook deems them equally likely to win or lose. Consequently, bettors would earn an equal payout for a successful wager on either team.
In this case, bettors would win $100 on a $100 wager, thus totaling a $200 payout. An even or draw game usually lists the word ‘draw’ (X) or ‘even’ (EV) on this bet. It will be indicated by an equal betting amount (+100), or a mix of terms like (Even +100). A winning draw or even play by a bettor will get paid out the exact amount wagered.
Is Football Moneyline a Good Bet?
Whether a moneyline bet is considered “good” depends on various factors, including your betting strategy, risk tolerance, and the specific circumstances of the game or event. Here are some considerations to keep in mind.
Simplicity
Moneyline bets are straightforward, making them suitable for beginners. You simply need to pick the team you believe will win without worrying about goal spreads or totals.
Understanding Payouts
It’s crucial to understand the potential payouts associated with moneyline odds. Negative moneylines indicate how much you need to bet to win $100, while positive moneylines show the potential profit on a $100 bet. Adjust your bet amount accordingly.
Favorites vs. Underdogs
Betting on favorites (negative moneylines) may require a larger initial wager to see a significant profit. On the other hand, betting on underdogs (positive moneylines) can provide higher potential returns with a smaller investment.
Risk and Reward
Betting on favorites involves lower risk but may offer smaller profits. Betting on underdogs involves higher risk but potentially higher rewards. Consider your risk tolerance and the possibility of the outcome.
Research and Analysis
Do thorough research and analyze a specific match before placing a moneyline bet. Consider team or player performance, injuries, recent form, and other relevant aspects that might impact the outcome. If you are lucky, you will identify opportunities for value betting.
Shopping for Odds
Different sportsbooks may offer slightly different moneyline odds for the same game or event, making it perfect for arbitrage betting. It can be beneficial to shop around and find the best odds to maximize potential profits.
Bankroll Management
Practice responsible bankroll management. Ensure that you wager only what you can comfortably afford to lose, and consider diversifying your bets across different types of wagers and events.
Game Dynamics
Understand the dynamics of the game or event. In some cases, a moneyline bet might be more favorable than other types of bets, especially when the point spread is narrow.
Ultimately, whether a moneyline bet is a good choice depends on your preferences, strategy, and the specific circumstances of the bet.
Having a clear grasp of the odds and a carefully planned strategy is crucial when engaging in betting.
Conclusion: Football Moneyline Bet Explained
In this article, we explained everything about placing your bet on the moneyline in sports generally and brought you closer to the moneyline in football betting.
For both experienced and new bettors, understanding the theoretical knowledge is crucial. We aim to refresh your memory and introduce newcomers to the key terms and concepts.
Last but not least, consider the various factors before placing a bet, as we mentioned above. That’s all bettors! Have fun, and remember to gamble responsibly!
