In the world of sports betting, there are many different types of bets to choose from. One of the most popular types is the money line bet, which is common in many sports betting games today. Many players enjoy this type of bet because it is easy to play and offers a high chance of winning. So let's analyze more closely with wintips experts about what is money line bet and what does money line means in betting to help you participate in betting better.
What is money line bet?
A money line bet is a wager on the person or team you believe will win the match. This is the simplest form of betting, where players only need to predict the winning team, without worrying about the exact score.
Theoretically, the odds of winning this bet are 50/50. However, these odds can vary depending on various factors. Since money line bets are based on predicting the winning team, they apply only to sports where a clear winner must be determined during the match. These sports include tennis, swimming, racing, badminton, boxing, volleyball, and League of Legends.
So, what does the money line mean in football? Unfortunately, money-line bets are not available in football because there are only two possible outcomes: a win or a draw. However, some places still offer money line bets in soccer, adding the option: Draw.
What does money line mean in betting?
Whenever you visit a retail betting sites or launch a betting app, what’s the first thing that catches your eye? Yep, numbers — lots and lots of numbers. Within this vast sea of numbers lies the money line, typically represented by figures preceded by a plus (+) or minus (-) sign.
From a wagering perspective, let's examine what these numbers and symbols represent.
Favorites
The "favorite" in a game, tournament, or event is the side viewed by the betting market as most likely to win. Money line favorites are almost always indicated with a minus sign. Money lines are typically shown in American odds and are based on a $100 bet. The odds listed next to a favorite show how much you would need to wager to win $100.
For example, a moneyline favorite may appear as -180 on the betting board. A bettor aiming to win $100 would need to wager $180, while a bettor aiming for a $50 win would wager $90. If your side loses, the sportsbook keeps the amount wagered. However, if your bet wins, the sportsbook returns both your winnings and your initial stake. In the case of a $180 bet to win $100, a winning bet would pay out $280. Meanwhile, an $18 bet at -180 money line odds would pay out $28, including $8 in winnings and $10 for your initial stake.
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Underdogs
The underdog is any side that is not the favorite and is considered less likely to win. Underdogs are always listed with a plus sign next to their odds, indicating how much money you would win from a $100 wager.
For example, let’s say an underdog in a baseball game is given odds of +140. If you bet $100 on that team to win, you would receive $240 if the team wins outright. While an underdog with higher odds is typically riskier to win, it can also offer a greater potential payout.
For instance, let’s say an athlete in boxing is given odds of +600 as an underdog. If you wager $100 on that underdog boxer and they pull off the upset, you would receive $700 (your initial $100 bet plus $600 in winnings).
What if you want to bet on that boxer at the same +600 odds and hope to win $100? You would wager $16.67, which would result in an actual payout of $100.02.
Pick‘Em (Even Money)
When a money line is priced as a pick'em, also called 'even money,' it is the same as a money line bet at +100 odds.
In these instances, oddsmakers consider that side a 50-50 bet to win outright. Whatever you wager at +100 odds is the same amount you stand to win: $50 to win $50, $2,000 to win $2,000, and so forth.
You’ll also see pick 'em (sometimes listed as PK) in point spread betting when bookmakers view a matchup as even on both sides. You’ll rarely see both sides of the same matchup listed as a pick'em on the money line because sportsbooks almost always apply added 'juice' (vigorish) to ensure a profit.
So, when one side of a contest is listed at +100 money line odds, that side is likely the underdog.
See also: Improve your betting strategy with football odds analysis.
3-Way Lines / Draws
In contests with more than two fixed options, moneyline bets can include a third option in addition to an outright win or loss. This is called a 'three-way line' and is common in sports like soccer and boxing, where a 'draw' can often occur.
In markets with a three-way line, it’s common to see both the favorite and the underdog listed at plus odds, and both sides can lose if the game ends in a draw. Three-way lines are also popular in sports where overtime is common, such as hockey, with the money line bet paying out based on the result at the end of regulation.
For example, let’s say two soccer teams are playing in a match where Team A is a heavy favorite over Team B.
Instead of Team A being listed as a -200 favorite, you may see Team A priced at -130, Team B priced at +130, and 'draw' listed at +300. If the game ends in a draw, bettors on Team A and Team B would both lose, while those who bet on 'draw' would receive a 3-to-1 payday.
In sports that cannot end in a tie, such as the NBA or MLB, all money-line bets are considered two-way action.
Tips for betting the money line help you increase your chances of winning
At this point, perhaps many readers will ask an important question: "So, should I bet on the higher-rated team or the lower-rated team?" Players usually prioritize placing bets on the higher-rated team, as it tends to have a better chance of winning. However, as mentioned earlier, the stronger team does not always win.
To optimize your chances of winning when betting on the money line, it is essential to take the time to research and gather the following detailed information:
- History of the two teams: Understanding how the teams have faced each other in previous matches can provide insight into their interactions and the frequency of similar results.
- Correlation of the strength of the two teams: Consider not only their actual achievements but also the specific abilities and skills of each team to assess their relative strength.
- The official lineup for the upcoming match: Information about the lineup can greatly affect the final result, as the presence or absence of an important player can alter tactics and strategy.
- Player performance: Analyzing the recent performance of players can provide crucial information about both their physical and psychological states, which can affect the team's overall performance.
Once you have gathered the information from the above points, it will be easier for you to determine which team to bet on, thereby optimizing your chances of winning.
Conclusion
Money line bets are an option you should consider trying. With its simplicity and popularity, you only need to understand the betting strategies and pre-match information of the athletes or teams you want to bet on, which will account for about 70% of your chances of winning. We hope the information provided in this article about 'what is a money line bet' and 'what the money line means in betting' will help you make more informed betting decisions. We wish you good luck and enjoyable betting experiences!
See more: Over under betting explained - How does over under bet work
