What is a Moneyline Bet? How Does it Work in Sports Betting?

A moneyline bet is the most straightforward wager in sports betting – you're simply betting on which team or individual you think will win the event. There's no point spread to worry about or any other conditions. If the team or player you bet on wins, you win your bet.

Whether it's an NFL game, an NBA matchup, or a tennis match, the moneyline is one of the most popular bet types because of its simplicity and directness. It's often the first type of bet that beginners learn when they start sports betting.

Moneyline odds are typically displayed in American format, which centers around the concept of winning or risking $100 per bet. The format of the odds will tell you whether a team is the favorite or underdog, as well as how much you stand to win.

When betting on a favorite, the odds will have a minus (-) sign in front of the number. This indicates the amount of money you'd need to risk to win $100.

When betting on an underdog, the odds will have a plus (+) sign in front of the number. This indicates the amount of money you'll win per $100 risked.

Betting on the moneyline means you're betting solely on who will win the game or match. If you bet on the New England Patriots moneyline, they must win for your bet to cash. The margin of victory doesn't matter – they could win by 1 point or 30 points, and your bet pays the same.

In some sports, there's the possibility of a tie or draw. In these cases, moneyline bets are typically refunded (this is called a "push"). However, in sports like soccer where draws are common, there's often a "three-way" moneyline where you can bet on either team to win or for the game to end in a draw.

Placing a moneyline bet is straightforward on any sportsbook. All you need to do is:

1. Find the game you want to bet on
2. Click on the moneyline odds next to the team you want to back
3. Enter your stake amount on the bet slip
4. Confirm and place your bet

The bet slip will automatically calculate your potential payout based on the odds and your stake amount.

While sportsbooks will calculate your potential winnings for you, it's helpful to understand how to do the calculations yourself.

Let's use an example to make this concrete. If you bet $100 on a team with a moneyline of -140:

• Your stake is $100
• The odds are -140, so you would win $100 ÷ (140 ÷ 100) = $100 ÷ 1.4 = $71.43
• If your bet wins, your total return would be $171.43 (your $100 stake + $71.43 profit)

This -140 moneyline implies that the oddsmakers believe this team has a 58.33% chance of winning the game. The higher the negative number, the more heavily favored the team is, and consequently, the less you'd win on your wager.

Juice, also called vig or vigorish, is essentially the commission that sportsbooks charge on bets. It's how they make their profit regardless of the outcome of games. And yes, there is juice in moneyline bets too.

The juice can be calculated by converting the moneyline odds to implied probabilities and then adding them together. If the sum is greater than 100%, the excess is the juice.

Generally, sportsbooks will have higher juice on the favorites because they understand that most bettors prefer to bet on favorites. This is why shopping for the best lines across different sportsbooks is so important for long-term profitability.

There are several strategies around when and how to bet moneylines. As a general rule of thumb, it's not advisable to consistently bet on huge favorites straight up because the risk-to-reward ratio is poor.

It might sound counterintuitive to advise against betting on favorites, but the goal of sports gambling is to make money, not to win the highest percentage of bets.

For example, if you are betting on a favorite at -300 odds, that bet has an implied winning percentage of 75%. This means if you bet on 4 favorites at -300 odds, you would need to win 3 of those 4 bets just to break even. Conversely, if you bet on 3 underdogs at +200 odds, you only need one of those bets to hit to break even.

While there are scenarios where betting on heavy favorites makes sense, the easiest way to profit over time on straight-up moneyline bets is to find value on "plus money" underdogs.

Yes, moneyline bets can be included in parlays, which is a popular strategy especially for betting on heavy favorites. A parlay combines multiple bets into one wager, and all selections must win for the parlay to pay out.

While betting on individual heavy favorites might not offer attractive odds, parlaying 3-4 favorites together can make the odds much more appealing, potentially even giving you plus money odds.

For example, parlaying four teams that are -250, -300, -200, and -180 favorites could result in combined odds of around +130. This would mean a $100 bet would win $130 if all four teams win, rather than having to bet much larger amounts on each favorite individually.

The risk, of course, is that if any one of your selections loses, the entire parlay loses. This higher risk is balanced by the higher potential reward.

Yes, moneyline odds move frequently, and understanding line movement can be key to successful betting.

Lines move for several reasons:

• Betting action: If heavy money comes in on one side, sportsbooks will adjust the odds to balance their risk.
• Injury news: Player injuries, especially to key players like quarterbacks, can cause significant line movements.
• Weather conditions: Especially in outdoor sports, weather forecasts can impact lines.
• Late information: Any new information about team strategies, player availability, or other factors can shift the odds.

Getting in on early lines can be a legitimate strategy if you think a team is being undervalued and that the odds are going to move in a less favorable direction. This is often referred to as "getting the best of the number."

Line shopping (comparing odds across multiple sportsbooks) is a crucial practice for serious bettors, as even small differences in odds can have a significant impact on long-term profitability.