If you’ve spent much time gambling on sports, you’re likely to have come across betting options like +130 or -120. These are known as “money lines,” representing an option many bettors overlook. That’s a pity, as they’re easier to use than the point spread once you understand how they work. This was the method most commonly used by bettors before the point spread came along in the 1940s.
This article is devoted to the fine art of moneyline betting, from the basics of how they work to some finer points on making these odds work for you. While reading this article doesn’t guarantee that you’ll win your next parlay bet, it should at least make you knowledgeable enough to converse with fellow sports gamblers.
How the Money Line Works
A point spread bet is concerned with the winner of a sporting event and their margin of victory. The money line keeps things simple by cutting this equation in half, as it’s only concerned with which team (or individual athlete) walks away as the winner.
Let’s look at a fictional game between the New England Patriots and the Pittsburgh Steelers to illustrate better how a money-line bet works.
• New England Patriots -240
• Pittsburgh Steelers +220
The team favored to win always has a minus sign in front of their number, while the underdog is indicated with a plus sign. This translates to the following:
• A gambler betting on the Patriots (the favorite) must wager $240 to win $100.
• A gambler successfully betting on the Steelers (underdog) will receive $220 if they wager $100.
While the $100 unit is commonly used when discussing sports betting, remember that you can bet whatever amount you feel comfortable with. This could be as little as a couple of bucks or as much as a few thousand dollars. No matter the size of your bet, the posted money line remains the same.
For example, assume you wagered $50 on the Steelers instead of $100. Since the size of the wager has been cut in half, the payout would also see a similar reduction. According to initial odds for the Steelers, a $50 wager would yield a profit of $110. Meanwhile, a $200 wager (double the original bet) would result in a payout of $440.
What Sports Use the Money Line?
You should be able to find money-line wagers for almost all athletic competitions, but they’re most common with hockey and baseball. This is because a narrow margin decides lots of games, often rendering the point spread ineffective.
Individual sports such as boxing and tennis also thrive on the money line wager, although the odds for a favorite can often approach ridiculous levels. For example, in a tennis match pitting a Grand Slam champ against a relative unknown, it’s not unusual for the gambler to wager $1000 or more to pick up $100. Of course, anyone who can correctly predict an upset in this situation would be rolling in the cash.
Basketball and football also use the money line, but this form of betting isn’t always available for every game. In cases where the point spread grossly favors one team over another, sportsbooks might not offer the money line option. This doesn’t happen that often, but it’s something to be aware of.
Money Line Tips
Now that you know how the money line works, it’s time to put your money where your mouth is. But before you run off to predict the upset of the decade, take a moment and look at these helpful tips for betting the money line. You may not use them all, but at least a few should find their way into your arsenal of sports betting tricks.
• When you’re betting on the NBA (or just about any other sport), always pay attention to each team’s home and away performances. Few teams are as strong on the road as they are at home, although finding the exceptions to the rule can give gamblers a huge advantage in picking underdogs.
• Most sportsbooks do not allow the player to place a money line bet on two competing teams. This is an important fact to keep in mind before placing any wager.
• The fatigue factor is essential when betting on MLB games. Players start to wear down over the course of the season, and this is especially true following the All-Star break. In an ideal situation, you want to find a team in the middle of a lengthy road trip and playing against an opponent who’s played the last few games at home.
• Make smaller bets during the first week of the NFL season. The league has long strived for parity among the teams, resulting in squads transforming from league doormats into contenders within a season. Before you risk a lot of money on your hometown favorite, let the season develop for a week or two to see how last year’s dogs and favorites perform.
• Money lines may change between the time the player placed their wager and the start of the game. The player’s payout is subject to the money line displayed when their bet was made.
Conclusion
While money line bets might seem like an alien equation to anyone unfamiliar with them, they’re quite easy to understand. Learning how they work opens up a new world for sports gamblers, especially those who enjoy risking their money on the underdog. This type of wager is available on all sports through reliable online bookmakers such as Bodog, so be sure to try it the next time you’re in the mood to place a bet.