The world of betting can be exhilarating, to say the least. Even those who have never placed a bet know it to be exciting because of the way that modern media portrays the entire scene as a get-rich-quick hobby that’s a lot more legal than many other wealth-generating strategies. If you’re new to the betting world, it’s important to understand that betting in itself is a numbers game. Newcomers can be swallowed up in an instant—that is, if they don’t place a bet using the right approach.
Betting the Moneyline
Out of all the different types of betting options to choose from, you’re probably most familiar with Moneylines. Whereas other systems may be concerned with the margin of victory or even the specific points earned (spreads and totals), moneylines are based solely on who wins and nothing else. Typically, moneylines are used in low-scoring games like baseball, boxing, or hockey. That said, they can occasionally be applicable to other sports as well.
A guide to understanding Moneyline betting
Moneylines can be quite confusing to newbies who have yet to place a bet. That said, everybody starts somewhere. If you’re a beginner who’s looking to start making some bank on Moneyline betting, we’ve prepared a simple guide on how to navigate the entire betting system:
How are you supposed to read a Moneyline?
Simply put, a moneyline is a structure that shows or tells you just how much you need to wager in order to make 100 dollars in profit. For example, let’s look at a hypothetical boxing match between Andy Ruiz and Deontay Wilder. Here’s what a moneyline may look like in the eyes of a bettor:
Andy Ruiz +400
Deontay Wilder -500
If you look at this example, you’ll notice that there is a plus sign after Ruiz’s name and a minus sign after Wilder’s. Although standard logic dictates that a negative is a lessor, the world of moneyline betting actually notes favourites with a minus (-) sign and labels underdogs with a plus (+) sign. In this match, Deontay Wilder is the favoured boxer.
Therefore, you’ll have to bet 500 dollars in order to get 100 dollars in profit. On the other hand, if you bet 100 dollars on Andy Ruiz, then the “+400” tag dictates that you’ll win 400 dollars on a hundred-dollar bet should Ruiz beat Wilder in any way, shape, or form.
How does a moneyline differentiate from point spreads?
It isn’t uncommon to confuse one betting system for another, especially when they’re new to the world of sports betting. For point-spread betting, the profit margins lie within a point spread that helps dictate just how much money will be awarded. From a bookie’s point of view, point-spread betting requires to have an equal amount of money wagered on each team in the bet to generate a significant amount of profit.
On the other hand, moneyline betting is used in sports that don’t have any point spread within their systems (or have a margin of victory that’s so small that its point spread is negligible). However, another differentiating factor that sets moneyline betting apart from point-spread betting is that the odds increase as the likelihood of a favourite increase.
When it comes to moneyline betting, bookies have to set a line on an underdog to cover any chance of potential losses on a crowd favourite while ensuring that they still make a profit.
If you’re looking to start betting on your favorite sports online, Action Backers is your best option. Get in touch with us today to see how we can help.