The most straightforward type of bet is the moneyline bet. Whether you are a beginner who’s looking to learn about sports betting or want to improve your skills, the moneyline is a great place to start.
In this guide, we will discuss what moneyline bets are, how to place your first wager on the moneyline, and how to read odds. It doesn’t matter whether you want to learn from scratch or just want to brush up on a few things; this guide will help you boost your chances of success.
A moneyline bet is the easiest form of sports wager. This bet involves you betting on which player or team will win a game. That’s it! It doesn’t get simpler than that. It’s a straight-up wager where you predict the overall winner of the match.
To help you make your decision, bookmakers will outline the odds for both players or teams, depending on which sport you are wagering on. For example, if you are betting on tennis, you will be wagering on which player will win, rather than a team.
While these bets might be easy, you still need to have some understanding of the sport and the players or teams who are playing. Just like with over/under betting, your chances improve with the more knowledge you have.
Now you know a little more about what a moneyline bet is, let’s take a look at how it works by using a real-life example.
Let’s say the Kansas City Chiefs are playing the Philadelphia Eagles. To bet on the moneyline means to pick which team you think will win. If you wager on the Eagles to win and they win the match, you win your bet. If they lose the game, you lose the bet.
Not sure how betting on the moneyline works? Here’s an easy step-by-step guide to walk you through it:
Regardless of which type of bet you pick, you need to understand how to read the odds. Whether you are developing a spread betting strategy or another bet type, you must know how it all works.
Moneyline betting odds are usually displayed in the American format, which is presented with plus (+) and minus (-) symbols. However, depending on where you are located, they can be converted into either fractional or decimal odds.
In moneyline betting, the favorites are indicated by a minus (-) symbol. The number that follows tells you how much you need to wager to win $100. For example, -200 means that you will need to bet $200 to win $100.
Underdogs are indicated by a plus symbol (+), and the number that follows represents how much you can win if you wager $100. For instance, +200 means that placing a $100 bet will result in a $200 win.
To help provide a more detailed example of how this would work in reality, let’s take a look at how the odds may be displayed and what this would mean:
| Team | Odds | Wager | Payout |
| Kansas City Chiefs | -140 | $100 | $40 |
| Philadelphia Eagles | +120 | $100 | $120 |
Now that you have learned the moneyline bet meaning, we will take a closer look at when you can use a moneyline bet. Knowing when to use it is just as important as understanding how they work, so let’s look at some guidelines:
Whether you want straight betting explained or any other type of bet, we cater to all sports bettors here. We also want you to feel as prepared as possible, which is why we will now have a look at some easy mistakes that sports bettors make when betting on the moneyline.
Don’t just bet on sports to get a big win, unless you see the potential and think that it’s likely. Many beginner bettors fall into this trap, and unless you know a fair bit about the teams or players, you are unlikely to win.
Before placing a bet, you need to consider the recent form of the team and key players, as well as any injuries, coaching strategies, travel fatigue, and more.
You should also track the odds, as these can fluctuate over time. Some bettors ignore this, which is never a good thing.
If you see value in the bet, then that’s fine. But a common mistake is bettors who are wagering on sports far too often, without waiting to see value. This will lead to big losses over time.
Betting on the moneyline couldn’t be easier, and it’s the perfect way for a beginner to start. This is the main reason why moneyline betting is so popular. Moneyline bets are available across all sports, so you will also have the option there.
When you are placing a bet on the moneyline, you don’t require a deep understanding or need to conduct lots of research. While you should always know a fair bit about the players and team you are betting on, you don’t need to spend hours looking into difficult concepts.
If you are ready to start betting on the moneyline, all you need to do is choose a sportsbook from on banners and create an account.. From here, you can deposit some cash and place your first bet. Don’t forget to come back here for all your betting needs, including prop betting strategy and tips.
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