The moneyline bet is a popular sports bet which is more common in hockey. It is similar to the “Win” bet in horse racing. A moneyline bet wagers on which team will win regardless of the margin. The simplicity of this bet is likely to be a huge factor in boosting its popularity. So, with a moneyline bet is it always better to go with the favourite? What payouts can US bettors expect when placing money line bets? Read more of our moneyline bet guide to understand the threads that make up the tapestry of moneyline bets. If you already know the ins and outs of moneyline bets try your skills at the top USA sports betting sites below:
Top US Sport Betting Sites
How do Moneyline Bets Work?
Like we stated earlier, a moneyline bet wagers on which team will win regardless of the margin it wins by. However, what needs to be noted is the fact that moneyline bets do not pay even bets. What does this mean? In the same game, if you were to correctly bet on the underdog winning or correctly bet on the favorite winning, your payout would not be the same. You would be forgiven for assuming that your best bet when it comes to moneyline bets is the favourite or team with the best chance of winning. Quite the contrary, payouts on a moneyline bet are inversely proportional to the odds of that particular team’s likelihood of winning. Simply put, if you bet on the underdog winning and the underdog wins you will receive a better payout than if you were to accurately bet on a favourite winning.
Types of Moneyline Bet Formats
As you may already know with regard to sports betting, the terms and representations of bets are quite technical. Similarly, moneyline bets, although simple, have different formats in which they are represented or expressed. The fixed-odd bet as the moneyline is sometimes referred to as always between two opposing sides a favourite and an underdog. The odds are either represented in one of three ways money line odds, decimal and fractional odds.
We will base all our examples between two teams let’s say *insert American sports teams*
They are also commonly referred to as odds.
Team 1 – -155 vs Team 2 +145
The team with the minus sign is the favorite and the team with a plus sign is the underdog.
With decimal odds the underdog or favourite is determined by the odds in relation to the number 2. Let’s explain with an example: Team 1 = 1.65 vs Team 2=2.45. A number greater than 2 means the team is the underdog. A number less than 2 means the team is the favorite.
The numbers’ distance from the number 2 determines how much of an underdog or favourite it is. The greater the difference between the odds the more the team is a favorite or underdog. E.g. 1.2 odds mean the team is favoured to win over a team with 1.9 odds. Likewise, a 3.3 odds team is more of an underdog than a 2.7 odds team.
Decimal odds are easier to project and calculate expected payouts.
With fractional odds, when the first number in the fraction is bigger than the second then the team is an underdog. The opposite means the team is a favorite. That is to say, where the first number in the fraction is smaller than the second then the team is a favorite.
Again, we illustrate with an example:
Team 1 = 13/20 vs Team 2= 29/20. team 1 is the favourite and team 2 is the underdog.
If fractions aren’t your forte, then here’s a simple solution to convert your fractional odds into decimal odds by dividing the first number in the fraction by the second number then adding 1 to it to get your decimal odds. i.e. (13/20) = 0.65 then add 1 = 1.65
But then again, you likely don’t have to subject yourself to tedious calculations as most sites in the US use the moneyline format and/or allow you to convert odds into a format more comfortable for you.