First things first, you need to get familiar with how the betting lines are presented. Oddsmakers will list who they feel is the favorite in a game/match with “-” odds and the underdog at “+” odds. In other words, the free play gets used up no matter if you win or lose.
Also, if you think that a team is going to outperform their expectations but not win the game, a moneyline bet is pointless. But, if you bet them with the spread, as long as they cover the spread, they can still lose the game, and you still win your bet. This SI Gambling 101 feature explains moneyline odds and provides examples of pros and cons associated with them. Also know as a “straight up” bet, moneyline wagers require bettors to pick which side will win outright.
If they win your payout is $180 back from your initial investment plus the $100 profit which is $280 in total. On the flip side, lower-scoring sports like hockey and baseball utilize moneylines more frequently since games are closer in score by nature. For example, if a favorite is given a -4.5 point spread in football, they could have a moneyline like -190. That means you would need to bet $190 in order to make a $100 profit. With the underdog the positive number represents how much profit you will win on a $100 bet.
The short-term results are not indicative of what your long-term results are going to be. After 100 bets, you’re probably going to be closer to 70 wins. After 1,000 bets, you’re definitely going to be closer to 700 wins. If you’re betting moneyline bets on games with only two teams or entrants, this is not going to matter to you. But, if you’re taking moneyline bets on things like races where there are multiple entrants in the same contest, you have some options. If you want to lower your variance, you can always bet more than one person to win.
This tip, much like many on this list, goes back to the first tip about finding value. If you’re just looking to get wins, you’re going to most likely run into problems with your profitability. This seems to be a huge problem especially for newer bettors when it comes to betting huge favorites. They’ll see the opportunity to get an easy win and not even take time to see if the bet actually has value.
($5 is 5% of $100, so you’ll receive 5% of the return, – 5% of $4000 is $200). When a sportsbook sets a money line, they’ll base the odds on the probability of a team winning the game, and in the majority of cases one team will be favored . In the above game, the sports-book has decided that the Pittsburgh Steelers warrant favoritism. Yes, the soccer moneyline is a great way to begin betting on a soccer match. You know exactly how much you are going to win and it’s easy to work out your profit.