Betting on the Moneyline is one of the most fundamental types of sports betting. In this section, we shall define a Moneyline bet and present instances of this sort of gambling. In sports betting, betting the money line simply means betting on a specific team to win a game. Bettors use the Moneyline when betting on an individual athlete, such as a tennis player, to win their match.
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What exactly is a Moneyline bet?
A Moneyline bet is simply about who will win and nothing more. Some sportsbook applications will provide a draw as a Moneyline bet option, while others will give a “Draw no bet” option in which only a winning individual or team may be selected, but not a draw outcome.
The lack of a point spread makes the Moneyline a basic and clear bet. All bettors must do is choose a winning side — or team — or, more particularly, a draw in a soccer/European football match or boxing/MMA bout if a draw is a possibility.
Moneyline odds elements
When looking at prospective bets, you’ll see three Moneyline wager components: the favorite, the underdog, and “even” or “pick ’em.”
The favorite is usually the side that is the public preference to win. To win $100 using $100 as the usual betting unit, a bettor would have to gamble the amount specified (i.e. -150). In this case, a bettor would have to stake $150 to win $100. If the wager is successful, the sportsbook will pay the investment ($150) plus the win ($100). On the Moneyline, a favorite is usually symbolized by a negative sign (-).
The underdog is the side that the bookies predict would be less likely to win. Using $100 as a typical betting unit, a bettor would need to risk $100 to win the amount mentioned (i.e. +150) for an underdog victory. In this case, a bettor would stake $100 to win $150, for a total payoff of $250. On the Moneyline, an underdog is always symbolized by a plus sign (+) and will pay out more money than the original amount risked by a bettor.
When two teams are so close together in terms of the odds that the bookie cannot decide who is the favorite and who the underdog is, the game is called an ‘event’ or ‘pick ’em’ game. Bettors would get the same amount of money for a successful wager on either side in such a circumstance. In this case, bettors would earn $100 on a $100 stake, for a total payoff of $200. On the Moneyline of an even or pick ’em game, the words ‘even’ (EV) or ‘pick ’em’ (PK) are frequently stated. It will be expressed by the same wager amount (+100), or by a combination of the phrases (Even +100). A bettor’s successful event or pick ’em bet will pay out the same amount invested.
How do bookmakers profit from Moneyline bets?
The difference in numbers is the vigorish, often known as the vig or “juice” – the fee charged by the bookmaker for taking your action. A market in which one team is +380 and the other is -380 reflects a fair market with no vig. The inferred probability total is 100. The bookies want to earn a profit, therefore they put some vig on top of any promotional deals that may appear from time to time.