A moneyline bet is one of the most straightforward bets in sports betting and is popular for low-scoring sports. It’s purely a bet on your pick to win a match, with no strings attached. Betting on the underdog will always net you a greater return than a bet on the favorite.
Sportsbooks display the odds for moneyline betting in the American odds format. A minus sign indicates the odds for the favorites and is the amount that you must bet for a $100 payout. On the other hand, a plus sign indicates the underdog’s odds and represents the amount you can win from a $100 bet. For example, a favorite’s odds might be something like -110 while an underdog’s odds might be something like +125.
Although moneyline betting is the easiest type of wagering, you might still be confused when confronted with the American odds. How do you know if a team is worth betting on? A simple online tool called a moneyline calculator is handy for calculating the win potential of the bet.
How To Use The Moneyline Calculator To Place A Sports Bet
When considering whether or not to place a moneyline bet, you can calculate the potential win manually. It’s not a complicated formula and understanding the calculation might be beneficial to you at a later stage. But ultimately a moneyline calculator saves you valuable time.
Once you’ve found a suitable moneyline calculator online, all you need to enter are the wager amount and the sportsbook’s odds. The online tool does the calculation for you and presents you with the results instantaneously. It’s much simpler than a manual calculation, and there is less room for error if you use this tool for moneyline betting.
Calculating Positive And Negative Moneyline Odds
There are simple formulas for calculating moneyline odds in sports betting in case you don’t have access to a moneyline calculator.
For example, a sportsbook has odds of -120 on Team A and +330 on Team B, and your wager amount is $50. For negative odds, you divide 100 by the bookmakers odds, then multiply that number by the wager amount.
The formula for negative odds is (100 / odds) x $50. Therefore the calculation for your wager on Team A is as follows:
Team A: 100 / 120 = 0.83 x $50 = $41.67
To calculate positive odds, you divide the bookmaker’s odds by 100 and multiply that number by your wager.
Team B: 330 / 100 = 3.30 x $50 = $165.00
From the results, we see that a moneyline bet of $50 wins $41,67 on Team A, whereas wagering $50 on Team B wins you $165,00. A winning bet on the underdog generally results in a larger payout than a win on the favorite.
What Is Line Movement?
Line movement in sports betting refers to the changes in odds between the time that betting opens for the game and the start of the game. It can affect all types of betting, including your moneyline bet.
All sportsbooks have betting lines that they set with the intention to make a profit. It's tough to win with a moneyline bet on the favorite due to the number of wagers received, so sportsbooks try to balance the opposing teams across the betting line. They do this by adjusting the odds to encourage wagering on the team they want bets on, thereby reducing the expected payout on one team and increasing it on the other.
Line movement also occurs as a result of an injury. If the favored team loses its top player to injury, the underdog may see more bets in their favor as they have a better chance. The betting line moves accordingly and the odds on both teams change.
Where to Place a Moneyline Bet?
Here is our expert selection of the bookmaker where you can place a great Moneyline Bet right away :
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What is a moneyline bet?
A moneyline bet is a straightforward bet placed on a team to win a match.
How do I find out what I can win on a moneyline bet?
The best way to determine your potential win on a bet is by using a moneyline calculator. A moneyline calculator is an online tool. All you enter is your bet amount and the odds and the moneyline calculator works the return out for you.
Which team is best to place a moneyline bet on?
You have a better chance of a significant win if you bet on the underdog, but it’s not often that the underdog wins. Use a moneyline calculator to work out your potential profit and decide from there.
Betting is never an exact science and you can’t anticipate or control the results. The underdogs can end up the heroes through sheer brilliance or the favorites can lose due to injuries.
Luckily, with the assistance of online tools like a moneyline calculator, you can be sure that you put yourself in the best position for a payout. If you lack precision in your maths skills, a manual calculation isn't the best option. A moneyline calculator will give you the confidence you need in your bet.
Other great calculators you can use to choose your best possible returns: