Moneyline and point spread are two of the most popular betting types in the world, and in Canada as well. If you’ve ever thought of placing a bet on a sports event, chances are you’ve thought about placing a moneyline bet or a point spread bet. But what’s the difference between the two? Which betting type is better: the moneyline or the point spread?
Today, we’ll tell you all you need to know about moneyline and point spread betting, the differences, the similarities, all the different strategies you can use, and which one of the two most popular betting types has the better payout.
Moneyline vs Point Spread Betting Explained
Both moneyline and point spread bets are single-game bets that revolve around the outcome of one game. Whether you are choosing to bet on football, baseball, basketball, or any other sports, these two sports betting options will always be there.
Because they are so widely used, mix-ups have risen, and many people in the past have mistaken one for another. That is why we are here to explain moneyline betting and spread betting, both of their advantages and benefits, and which one to choose in various situations.
What is Moneyline Betting?
A moneyline bet is a betting option given by many sportsbooks where a bettor places a wager on a team or a player to win a game. This is the most straightforward bet that can be used. The final score doesn’t matter as long as the bettor gets the winner correct.
What is Point Spread Betting?
When it comes to point spread betting, you aren’t really asked to predict a team to win the game, however, you are given the task to predict point differentials.
To put it in layman’s terms, the team or player that is considered the favourite will have a certain amount of points taken away, and the team or player that is considered the underdog will have a certain amount of points added.
As you can see these types of wagers are a bit more difficult to understand as opposed to moneyline bets. Most sportsbooks, if not all of them, use the point spread bet to get bettors wagering the same amount of money on each team or player.
How to Compute Moneyline Odds
Before you place a single bet on the team or player you favour, you need to know how to read this type of bet. To make it easier to understand, it is better to have an example, and this time we will take two NFL teams, the New England Patriots and the Cleveland Browns.
Let’s say you are on your preferred sportsbook site and you see this line: New England Patriots (-150) vs. Cleveland Browns (+450).
Just by looking at the line, you can determine one team as the favourite and one team as an underdog. The team with the negative odds is deemed favourite and the team with the positive odds is deemed the underdog.
The team with the negative sign, in this case, the Patriots, shows you how much money you will need to wager to make a CA$100 profit.
On the other hand, the team with the plus sign, the Browns, shows you how much you can profit by making a CA$100 bet.
How to Read Point Spread Odds
When it comes to point spread odds, they are a little more difficult to read. Because you aren’t necessarily choosing the winner of the game, but the points scored, some bettors do struggle when trying to place their money bet.
To make things simpler, using an example will do the trick. Let’s say you browse through your favourite online betting site and you see this line: Memphis Grizzlies (-8.5) vs. New Orleans Pelicans (+8.5). The numbers will always indicate who is the favourite and who is the underdog.
The point spread with the minus sign, represents the favourite, in this case, the Grizzlies. If you bet on the Grizzlies, not only do they have to win the game, but they also need to win it by 9 or more points.
The point spread with the plus sign is representing the underdog, the Pelicans. If you bet on them, they don’t need to win the game, but they need to lose to the other team by less than 9 points.
What Are Against The Spread Bets?
Against the spread betting is betting on the underdog. To have a successful bet, the underdog either has to win against their opposition or lose the game by fewer points than the given point spread.
Different bettors will look at betting against the spread differently, meaning that some will say that it is riskier to bet on the underdog, while others will say that there are more opportunities to win.
While you do get two winning outcomes when you bet against the spread, the team is still the underdog and most of the time underdogs lose.
Moneyline Betting Strategies
Understanding Monylines isn’t the only thing that you will need to know to make a profit. There are certain strategies to this type of bet that you need to get familiar with before putting down a bet.
Finding Value – Finding value in sports betting isn’t just looking at which game has the best odds, or which team is certain to win a game. You may be winning a lot of wagers, but in the long run, still lose money. And on the other hand, you may lose a lot of bets but the ones you get right may be pretty profitable.
Reacting to Line Movements – There can be a lot of factors causing a certain line to move, before and during the game. Moneylines can and will move quite a lot, and it is up to you to predict and lock in a bet when the line is in your favour.
Don’t Just Stick to Favourites – While there can still be a small amount of profit, betting on the favourites isn’t the best strategy if you are going for a big win. While the risks are pretty low that the favourite will lose in the end, the amount of money that you will need to wager to get a big profit is huge.
Point Spread Betting Strategies
Like any other type of betting, point spread betting has its own strategies. You won’t be doing the same bet every time, so making sure to look at certain things is key for making a profit on your wager. Here are some of the strategies you need to consider before wagering your money.
Exploiting Line Movement – The fine line between winning and losing can only be a half-point. Ask any experienced bettor if a half point has made them lose a bet, and we can guarantee it has happened to them a million times. Looking for that extra half-point or more can place you in a great betting opportunity to win big.
Doubling Down – Once you have placed your wager on a particular spread, after some time, the odds may change – as they often do. If you are confident in your prediction, you can double down and place a new wager on the same game or player, with the new odds.
Predicting Spreads Before Looking at Lines – Before a point spreads come out from the sportsbooks, sit and write down what you think the spreads will be. Once they are out, compare, and see which ones match or are close enough to yours. Those will be the ones that you may wager on.
FAQs About Moneyline Bets and Point Spreads
What is the number after the point spread?
The number after the point spread indicates how many points a team has to win by or lose in the game.
What does it mean to take the points?
To take the points is the same as betting against the spread. This means that you are betting on the underdog to either be the winner or lose by fewer points that are given on the spread.
Do moneyline odds change suddenly during the game?
Any type of odds will change during a game. The odds will become worse because, in one way or another, bettors have a good idea of the outcome of a game.
Is a moneyline bet riskier than a point spread?
You can never get a correct answer to this question. This is because both types of wagers can have the same risk. To make things more clear, a sportsbook can give out the same odds for two teams to be winners, because they think they both have a fighting chance.
Now, this can all change during the match and the odds will differ, however, before the match starts the risk is the same.
Which type of bet gives a better payout?
Only because a spread bet gives you more opportunities to win (two rather than one), it can be said that it can give you a better payout. On top of that, line shopping can do a lot of good to your payout, considering you are looking for the best odds.