Understanding Moneyline Bets
Punters and sportsbooks talk about moneyline bets as being the simplest of all bet types, and often say that they are as simple as betting on a team to win a match. However, as a famous chef once proved there are nuances even to boiling an egg, the same is true of these betting options.
Understanding those nuances is important, especially if you want to avoid common online sportsbetting beginner’s mistakes. It will also enable you to make decisions that result in profits. Here is what you need to know.
What They Are
Moneyline bets really are all about who wins. The winner of the match, game, race, or other event is what determines whether your bet will pay out or not.
They are the best starting point for anyone new to mobile betting, because they lack the complexities of other types of bets, including props and combinations. The sites we recommend present them in US, decimal, and fractional odds. For example, online sportsbetting odds for a fantasy boxing match between Conor McGregor and Jeff Horn can be shown as: McGregor -155, Jeff Horn +145, or McGregor 1.65, Jeff Horn 2.45, or McGregor 13/20, Jeff Horn 29/20.
Favourites and Underdogs
The odds for moneyline bets indicate which participant is the bookie’s favourite, and which is the underdog. The favourite is the one who has the best chance of coming out on top, while the underdog is the one whose chances of emerging victorious are not as good.
The plus sign indicates who is the underdog. However, those odds tell you more than that. They also indicate what the theoretical payouts would be for winning wagers on either. Successful sports bets on the underdog pay out more than those on the favourite.
Calculating Potential Profits
The profits you stand to earn if your pick wins should be an important factor when deciding which moneyline bets to place. Sometimes, they are not worth it.
Let’s say you want to calculate the profit on a bet on McGregor in the example above. You would need to bet 155.00 to get 100.00 out. So, to work out how much you stand to get out, divide 100 by 155 = 0.65 profit per 1.00 you bet. You then need to multiply that by your bet, so 10 x 0.65 = 6.50. If you bet 250.00, the profit would be 162.50.
If you prefer placing sports bets that back the underdog, you would follow a slightly different process to work out your potential profits. Jeff Horn’s odds are +145, so if you bet 100.00 on him and he beats McGregor, you win 145.00. To work out your profit per 1.00, divide 145 by 100 = 1.45. If you place a 250.00 bet on him, you’ll be paid out 362.50.
Why Mobile Betting Odds Change
If you visit sportsbooks for mobile betting regularly, you may have noticed that the odds of moneyline bets can and do change from day to day, and you might be wondering why this happens. The lines move or stay the same depending on the decisions punters are making.
Basically, this happens because bookmakers do not care about who comes first. All they really want is to pay out the same amount of money regardless of who is the victor. If it happens that more people bet on Jeff Horn than they expected, and he actually wins, they might have to pay out enough money to drive them out of business.
To avoid such a situation, the online sportsbetting brands change the odds so that, if Jeff Horn does come out on top, they will not need to pay out more money than if McGregor had won. Despite this, the odds that were given when you place moneyline bets will be the those at which payouts are calculated if your bet wins.