With a wide variety of betting types on different bookmakers and oddsmakers, it takes the curious bettor to understand how each bet type works. Moneyline comes as one of the most popular and traditional bet types on the market.
In simple terms, a Moneyline bet is a type of sports betting odds that allows a bettor to wager on a team or player to have an outright win. Typically, oddsmakers look at the recent performance and history of the two sides involved to set the Moneyline bet. A team or player’s chances of winning a matchup, event, or game inform the odds given to them.
Moneyline bet shares some similarities with both the Over/Under and Point spread bets because they’re all arranged in a minus-plus format. The Moneyline betting system is made for one-on-one games and events, including MLB and NHL. American Football, Tennis, Boxing, NCAA, NBA, NFL, and college football fans will also enjoy many Moneyline bets.
How Moneyline Bet Works?
Depending on the event or game you’re betting on, the Moneyline bet typically offers bettors two or three options. In most games, you can only wager on a team or player to win or lose. Alternatively, you can also predict that the match will end in a draw. The ‘Draw’ option is common to European soccer, MMA fights, or boxing that also features ‘Draw no bet.’ A bettor can be declared winner only if a team or player wins with the’ draw no bet.’ A draw in this instance means the bettor loses.
The other good thing about Moneyline betting is that it doesn’t need your wager to cover the spread, as you will find in the point spread system. The Moneyline bet is about winning. To win a $100 bet on a favorite team or player, bettors will need to wager more than the $100 bucks. This way, if the amount listed is -$200 and your chosen team or player wins the contest, the sportsbook will pay out $300 as your winning.
However, if you wager on the underdog, that is, the team or player considered less likely to win, you’ll need to wager up to the $100 cap to claim $100 as your winning. Here’s the most exciting part: you can accumulate multiple Moneyline bets, pay the same amount you bet on a single matchup, and still expect a much larger payout. This is called Moneyline parlay or the accumulator bet in European sports betting.
A three-way Moneyline bet supports bettors to wager on either team to win or draw simultaneously. This is common in European soccer because of the high volume of games and events.
Features of Moneyline Bet
- Simple and Straightforward
- Offers multiple wagering options
- Allows tying multiple matchups for a bigger payout
- Most popular in one-on-one games and events