In betting, you will encounter three different bets. These are point, total, and Moneyline. The difference between Moneyline and point bets lies in the involvement of scores. In the former, if the team you bet on wins, so do you. The scores are not involved. While at the point, you are to bet on a specified margin.
So, in this betting, one risks or gambles with their money on a team that will defeat the other team. Or, in even simpler terms, you will bet on the team that you think is likely to win.
Explaining the terms
So, while looking at the bets, you will likely come across three terms. Those are favorites, underdogs, and even pick th them. Let’s get acquainted with these terms.
Favorites
As the name suggests, it is the majority’s favorite team—the group people believe is more likely to win. So, taking $100 as the standard betting unit, if one bet on $150, they are likely to make a profit of $100. Now, you are likely to earn $250 if the team wins. A favorite team uses the symbol of -.
Underdogs
Underdogs are the teams that are less likely to be won in the public’s eyes. For example, taking $100 again as the standard betting unit, one is expected to bet $100 to earn a profit of $ 150. In this case, you will make $250. The underdogs are represented using the symbol +.
Even Pick ‘them
If both the teams playing are close in the level of the game, then the sportsbook will give the tag of win or lose to both teams. In such a situation, if one wagers $100, they will make a profit of $100. Thus, they will get the initial payment of $200.
Outcomes
There are three possible outcomes after a game. These are win, loss, and draw, or draw no bet.
- Win – If the team they bet on won, so did they.
- Loss – if the team they betted on lost, so did they. They will also lose if they don’t opt for a draw.
- Draw no bet – this option means that both the teams are likely to win, and in this case, they will likely get back their stake.
Connection to the point spread
Although the Moneyline bets differ from the point bets, they are connected regarding the checkout of their payments. Selecting a 3-point favorite would be more profitable for you than a 7-point favorite.
For example, betting on a 3-point favorite team having a status of 160 requires a bet of $100, while the underdog would be $135. When the pointer increases, one must bet more to get the same return.
While betting the money line on a 7-point, the favorites would be -350, while the underdogs would be +285.
The Odds
Moneyline odds seem quite confusing, but let’s try to understand them with examples to interpret them in simpler terms.
For example, Alabama footballs would be highly favored against FCS opponents. So, the sportsbook will be offering free money in this circumstance.
Suppose we take another example, the Kansas City Chiefs against the Chicago Bears. The majority favors these teams against each other. Here, the bets get interesting. Let’s take the odds of -350. The bettor would bet $350 to win $100. Thus, if one bets $100 on bears, they are likely to make a profit of $245. If one bet on the chiefs, they are likely to make a profit of $28.5.
Let’s talk about NFL and NBA to get a clearer view.
NFL Moneyline
Since we know the meaning of money line bet, it is simpler to understand the NFL Moneyline. Well, as it might now have hit you, It is nothing but betting on the team that, according to you, will win over the other groups. To understand this, look at the example given below:
Model: Green Bay Packers (-500) vs. Chicago Bears (+300)
From the information provided, we can interpret that the Packers are favorites while the Bears are underdogs. If you bet $500 on the packers, you will have a profit of $100. If you bet $100 on bears, then you are earning a profit of $300. The extra amount that is paid is for the juice. The additional amount that is produced is for the fluid.
NBA Moneylines
Here, too, we are betting our money on the winning team. remember that the – sign represents the favorites while the + symbol represents the underdogs. Let’s consider an example:
Example: Brooklyn Nets (-250) vs. New York Knicks (+400)
In this situation, if you bet $250 on the nets, you will earn a profit of $100. If you bet $100 on the Knicks, you will likely win $400.
Now do the Moneyline odds appear simpler since you looked at the NFL and NBA Moneyline bets? Let’s quickly dive into some tips that will help you choose the winning team and will get you a profit.
Tips for the bets
Since Moneyline bets are very simple, this makes them easier to win. So, here are just some suggestions to help you with betting the money line.
- Betting is all about selections. Please research the team you think will win before you put your money down. Gambling is all about using a strategy to increase your chances of winning the bet. Studying your team’s previous games will help you analyze them and arrive at a better conclusion.
- After all the information in this article, you may have concluded that betting on the underdogs is more profitable. But there are even chances that the underdogs will lose the game. It’s better to keep a record of the amount of money that is being spent and earned. Thus, you will have the chance of losing money. Thus, you will have the option of losing money.
- Underdogs seem to make you win a profit. But just because you will profit more if they win does not mean you can ignore the favorites. As mentioned, favorites are the team the majority prefers; thus, they usually have more chances of winning.
- While you are on your way to selecting the team, it’s better to think practically and with a clear head, as it allows you to get the best probability. Since it has a connection with points regarding payment, understanding the point spread also helps make a better decision.
Wrapping Up
This was all about the Moneyline bets and all the related terms and theories that will help you expand your knowledge about betting. I hope this article has made this concept easy and helped you understand it better.
