Money line betting is one of the major options people have whenever they are placing a wager on a game. The concept is pretty simple, as even beginners realize what they are wagering on from the very beginning. Of course, figuring out how the money line pays out and other tips makes a difference between winning long-term, and coming up short.
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What Does the Money Line Bet Pay?
Breaking down a money line payout is very simple. It’s all based on ratios using the number next to the team. If it’s a negative number, that’s how much money a person has to wager to win $100. If it’s a positive number, it indicates how much money is won on a $100 bet.
To see it visually, here’s an example of both.
Los Angeles Lakers at -140 would mean a person must wager $140 to win $100.
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Los Angeles Lakers at +200 would mean a person wins $200 by wagering $100.
In both scenarios, payouts are proportional to the amount a person wagers. There’s no minimum/maximum to abide by.
What Does A Money Line Represent?
The best way to think of a money line is that it is the same as a team’s odds to win. Favorites will have a negative sign in front of their number, while underdogs will have a positive sign. Of course, these aren’t exact odds, as the perfect example of that is during the Super Bowl when people bet on the coin flip. The truest 50/50 toss-up one could ask for, both have negative money lines. Sportsbooks have to factor in the vig, which is their cut.
Betting on the Favorites with the Money Line
Plenty of people make a good amount of money betting favorites consistently on the money line. After all, they are viewed as the favorites for a reason. The payout might not be as great as it would be on an underdog, but winning consistently can build up a bankroll.
Favorites with the money line will always be listed with a negative number. The higher the negative number, the bigger favorite they are. It’s not that uncommon to see mismatches in college sports have heavy favorites that discourage people from taking a risk. For example, if a team is listed at -2000, not that many people are willing to wager $2000 to win $100.
If it’s a complete mismatch that there is pretty much zero chance of the other team winning, sportsbooks might take it off the board completely. They’re in the money-making business themselves, so they won’t be burned by a mismatch of that magnitude.
Betting on the Underdogs
Underdog betting is a bit risky, as people won’t win as consistently as they would on favorites. The plus side is that when there is a win, the payout is usually pretty good.
They are different strategies adopted by gamblers out there. For some, they are looking for slight underdogs who might seem like favorites in their eyes. If they can get some type of small advantage, they don’t have to win 50% of their bets to make money in the long run.
Others like the idea of placing money on heavy underdogs. It is rather enticing to see how much money can be won on just one bet, but most of those huge underdogs are listed that way for a reason.
The strategy most adopt with underdog betting is to just place a few dollars on that team and see what happens. If it wins, it will still pay out pretty well. If it’s a loss, the amount of money wagered is pretty negligible.
Is the Money Line Better Than The Pointspread?
Betting on the pointspread is another common way to wager on sports. Pointspreads are available in all the major sports, but are most common in football and basketball. The main difference is that gamblers pick a side based on the handicap that the underdog receives.
As an example, an underdog in the NFL might be +7.5 with the pointspread. If that’s the case, they either need to win the game, or lose by seven or fewer points to win the bet. Betting on the favorites means that they not only have to win, but win by -7.5 points. This essentially makes the two teams even from a gambling perspective. The payout would be -110 for both sides.
For a game with that spread, that underdog would have a money line of about -340 or -350. This makes them a pretty big underdog. Betting on the underdog in this scenario means they have to win outright to win the bet.
Pointspread betting takes a different mindset that not everyone is crazy about. People new to sports betting tend to gravitate towards money line opportunities first. It’s usually much simpler to understand winners and losers straight up.
Parlay Betting With Money Lines
To make money line betting even more intriguing, there are quite a few people who take part in parlay betting. This is putting together two or more contests and making a bet with longer odds. If every team wins, a person has a chance at a great payday. If just one team loses, the entire bet is great as a loss.
Not everyone will enjoy the all-or-nothing approach with parlay betting, but the opportunity is there to make some serious money which is a single bed. Some people put together 10 team and 12 team parlay bets to see what they can win.
Tips on Money Line Betting
Having some type of strategy with any type of betting will lead to success. Basic tips to remember when money line betting can be the difference between winning long-term, and slowly losing a bankroll. These are tips smart gamblers have to share.
Be Selective
Just because there are many games to choose from every single night doesn’t mean a person has to actually place a wager. It’s important to be selective and only pounce on the opportunities that look good.
On some nights, that could mean not making a single bet. On other nights, there could be several bets in action. There’s never any particular rhyme or reason with what’s available.
Specialization is Key
It’s better to be good at one sport, instead of being spread around too thinly. Specialization is always a key with gambling. It takes a lot of research to have some type of edge over the sportsbooks. It’s impossible to be great at every sport.
At most, pick two sports and only bet on those two sports to begin with. What many will find is a lot more consistency.
Shop Around
The money line can look different from sportsbook to sportsbook. That’s why it’s so important for people to shop around and find what they think is the best opportunity. Too many people run into the issue of only sticking to one sportsbook, and then leaving money on the table.
The difference between -150 and -160 might not seem like much, but it starts to add up over time. By having accounts on different websites, there are opportunities to pick and choose.
A Final Look at Money Line Payouts
Betting the money line is always a solid option for those looking to make money on single games. They can also be combined for parlay bets for big winnings. The simplicity of understanding the money line makes it user-friendly for beginners. Make sure to keep in mind that proper bankroll management is necessary to have long-term success.