Betting on the Moneyline
Depending on the sport that you are betting on, the moneyline bet is very likely to be the most popular option out there. Many people are going to bet on the moneyline (or runline, or goal line) in sports like the MLB, NHL, and Soccer just to name a few. There are obviously sports like the NFL, College Football, NBA, and College Basketball where you are likely going to be betting on the spread over the moneyline in many situations, but it doesn’t mean that betting on the moneyline isn’t a good idea in some situations. You are going to find that the moneyline works differently than many bets, as it will directly relate to how much that you have to bet on every game in order to win a certain amount. What that means is that if you want to win $100, and the odds on a game are -150, you’d have to bet $150 to win $100, but if the odds are -110, you only have to bet $110 to win $100.
On the other side of things, you’ll find that betting on teams who aren’t favored against the spread, or they are “getting points” in football or basketball, can give you some pretty good odds when betting on the moneyline. We’ll look more at betting on underdogs below, but if you can find good underdog bets it can really make you a profitable bettor.
The moneyline bet is used the MOST often in the three sports we originally listed (MLB, NHL, and Soccer), mainly due to the fact that these games usually have set lines on them, with Soccer being the only one where we usually see the line move off of -1.5 for the favorite and +1.5 for the underdog. Many people are going to bet on the moneyline instead of the -1.5 for the favorite because of the fact that the odds will make it worth avoiding the risk of your team winning by only a goal in most situations, so that’s definitely something that you should take into consideration before placing your bets.
A big part of betting on both favorites and underdogs on the moneyline in sports is to look at putting them into parlays with your other bets, or just another single bet. Having a two team parlay on the moneyline is going to pay out much better than a standard moneyline bet would. For example, if you like a team that is -220, but don’t want to lay those kind of odds, you can parlay them with a team that you like who is -175 and get a much better payout. You can also add in an underdog in a parlay and get those odds to jump up even more, but it’s important not to go crazy when betting on moneyline parlays. Just like anything in sports, an upset is always possible, especially in a regular season game between two teams who both are playing for the same thing!
Moneyline Betting Strategy
I’d say the biggest piece of strategy behind betting on the moneyline is just to avoid teams who have odds that are just too much to lay. In the example above, betting on a team who is -220 on the moneyline is tough. This means that you have to bet $220 just to win $100. That’s double what you want to win, and I’d recommend trying to set up a system that you follow when betting teams on the moneyline. Some people are going to stick with a specific number, and only bet teams with those odds or better straight up (-175 for example), and then for any odds who are higher then they will parlay them with another big favorite or two.
Betting Underdogs on the Moneyline
The moneyline is a great spot to take advantage of odds on an underdog that you like. If a team is +165 to win, and you can hit them on the moneyline then you are going to get a nice payout. Instead of having to bet $110 to win $100, if you bet a team who is +165, you could bet $100 and win $165. The odds completely flip for the underdog obviously, but they are much tougher bets to hit. I’d recommend just looking for great angles on underdogs, and not getting crazy when betting on a team who is laying points or getting odds from their opponent. Betting on a team who is +17 on the moneyline more than likely isn’t the best bet!
The moneyline is the way to go in many spots, but be aware that when betting on sports like the NFL, NCAAFB, NBA, and NCAABB, that if a team is only -1 or -2 that it’s likely a better bet to go with them with the points because you don’t want to have to eat the odds! It really does depend on the moneyline odds, but always check them before finalizing a bet on a small line.
Here is a video explaining moneyline betting: