A moneyline bet is where you pick the winner of an event or game. The odds adjust based on the expected performance
Money Line Betting in The US
Legally operating online sportsbooks in the United States typically provide a wide range of sports betting options. Moneyline bets are just one of many different wagering options, which also include bets on the point spread, total points scored, parlays, and betting during the game.
What exactly is a moneyline bet?
When it comes to sports betting, one of the simplest bets to make is on the moneyline. A game or match can have one of two outcomes (or three outcomes in some sports), and you must choose which one you believe will occur.
You are essentially required to select the team that you believe will win this competition. To get your feet wet as a new bettor, it is recommended that you begin by betting on the moneyline. This type of bet is usually the simplest to understand and the simplest to place.
In the vast majority of sports, your chances of correctly predicting the game's winner are exactly even. Examining the betting lines is a good place to start when determining which of the two teams has the best chance of winning. When determining the odds for betting on a team, the likelihood of that team winning the game is considered. These odds determine the outcome of your entire wager, from the likelihood that you will win to the payout that you will receive if you win your bet.
Let's start with the odds that come with moneyline betting and how to properly interpret them.
Moneyline Betting Odds Explanation
While it is critical to understand the odds associated with your moneyline bet, it is also critical to understand the differences between the three different odds formats. Your sportsbook may allow you to switch between the three; however, despite the fact that they all represent the same odds, they are presented in different ways that can be difficult to understand if you are not experienced.
Probabilities in America
The most common type of odds in the United States are American odds. These are usually expressed as a plus or minus number and are in the hundreds, thousands, or even tens of thousands in the case of a significant underdog.
When reading American odds, keep in mind that they will either show you how much you need to wager to win $100 if you bet on the favorite, or how much you could win if you bet on the underdog, based on the amount of money you would win if you bet on the underdog.
For example, if you want to bet on the National Football League, you might see something like this:
-105 in favor of the Tampa Bay Buccaneers
Kansas City Chiefs (+130 points)
The team with the negative number has the advantage, while the team with the positive number has the disadvantage. If you bet $100 on the Chiefs, you will receive a return of $130, whereas if you bet $100 on the Buccaneers, you will receive a return of $100.
The odds are quite low because these two teams are fairly evenly matched; however, if you saw something like -300/+650, you would assume that the Buccaneers are a heavy favorite and the Chiefs have a very small chance of winning. As a result, the numbers are quite low.
Decimals with even and odd numbers
Despite the fact that American odds are more common, decimal odds are still widely used in the United States. This is due to the popularity of decimal odds in Europe over the last few decades. Your decimal odds number represents the return on each dollar wagered, and it's easy to understand due to its simplicity.
To calculate how much money you will make if you are doing the math in your head and want to find out how much money you will make quickly, do the following: multiply your total bet amount by the odds.
The Buccaneers' odds against the Chiefs would be as follows:
The Tampa Bay Buccaneers are listed at 1.95, which means that if you placed that wager, you would win 95 cents in addition to your initial dollar bet.
The point spread for the Kansas City Chiefs is 2.3, which means that for every dollar bet, you would win $1.30 in addition to your initial bet of $1.
Uneven Fractions of a Whole
It is important to note that, while fractional odds are not as common in the United States as they are in European countries such as the United Kingdom, they are still a viable option that should be considered. The odds are presented as fractions, and to calculate them, multiply the amount bet by the top of the fraction, then divide the result by the bottom of the fraction.
As a result, if we bet $10 on the Chiefs with the same moneyline odds as those presented earlier, the odds would be 13/10. This would require us to multiply 10 by 13, then 130 by 10, yielding a total payout of $23.
If you bet the same amount as the denominator (the number at the bottom), you will win the numerator (the number at the top) in addition to your initial stake.
The implied probability is a useful calculation that can be useful when betting on the moneyline. This figure represents the exact value that the oddsmakers have assigned to each of the teams competing in the event. Because American odds are still relatively new, you will need to convert them to decimal format in order to complete this calculation.
What exactly is a moneyline calculation?
The Gaming Today Moneyline Calculator allows for quick computations of payout odds and wager amounts for any amount of money. You can enter the odds and wager amount in American, decimal, fractional, Hong Kong, Indonesian, or Malay odds, and the calculator will show you the payout for a successful bet based on those odds.
Despite the fact that it is beneficial to understand and be able to calculate favorite and underdog Moneyline odds for all of the various odds notations, using a moneyline calculator can save a significant amount of time and effort.
The Gaming Today Moneyline Calculator includes a feature called "Implied Probability," which is regarded as one of the tool's most useful features.
For any input, the calculator calculates the implied probability of that team winning, regardless of whether the team is a favorite or an underdog. Bettors who use the calculator will be able to identify teams with a higher implied probability dictated by the odds than their actual win probability.
The "To Win" window displays the total profit that can be obtained from any combination of odds and wager amount. To calculate the return to the bettor, multiply the "To Win" number by the initial amount of the wager.