Everybody makes moneyline wagers, even if they don’t know it. Non-gamblers can make moneyline wagers. The easiest way to bet on sports is to place a moneyline wager. You simply pick the winning team or player when placing a moneyline wager. The sportsbook will pay the winning side if the bettor selects it. It’s that easy.
A moneyline bet does not have a point spread. The winning side is what the bettors choose. Although placing a bet is easy, understanding how the moneyline pays can be difficult. Each side of a moneyline bet is paid at a different time, which can make it confusing.
The moneyline’s favorite team or player is the one that’s most likely to win. This side of the wager is usually marked with a minus sign (-). The team expected to lose is the underdog team, or the player on the moneyline. This side of the moneyline will usually be marked with a (+) sign. These signs indicate how much each side of the wager will pay. The original wager will pay less, while the wager on the plus side will pay more.
A moneyline is used to bet on low-scoring sports such as baseball, soccer, or hockey. They are popular in football, too. An example is the best way to show how moneyline bets work. Let’s take the Super Bowl matchup between the Kansas City Chiefs and Tampa Bay Buccaneers as an example.
A $100 wager is the best way to understand moneyline betting when it comes to online sports betting. The moneyline for the underdog Buccaneers was +136. A $100 wager would yield $136 profit if the Buccaneers win the game at +136 odds. This is a total payout to $236. Because they are often “plus” money, bettors love picking underdogs. This bet on the moneyline pays more per unit than a wager for the favorite.
In this instance, the moneyline for the favorite Chiefs team was -156. To win $100, a bettor must wager $156 at -156 odds. A winning wager will typically pay less than the initial amount because the favorite team is the one with the best chance of winning.
Different types of bets
1. Moneyline betting
The easiest Super Bowl bet to make is on the moneyline. Simply put, you can bet on which team wins the Super Bowl “straight up” without worrying about the margin of victory. You win your bet if the team you placed your money on wins.
Current Super Bowl 55 Moneyline Odds
|Kansas City Chiefs||Tampa Bay Buccaneers|
You may be thinking, “That’s so easy.” You might be asking yourself why not everyone places a wager on the moneyline.
Because the payout is lower when you bet against the favorite. You also don’t get to spread the risk if your bet is on the underdog. You won’t get the same reward from sportsbooks if you pick a huge favorite to win. If you pick the underdog, they will reward you handsomely.
Let’s take the Super Bowl this year as an example.
At the moment, the Chiefs’ moneyline stands at -180. This number is familiar! The -180 number means that to win $100 in Kansas City, you must wager $180. This will give you a $280 total payout. The moneyline for the Buccaneers is +152.
Everything changes when you add the plus-sign! The moneyline, when preceded by a + sign, indicates how much you will get back if your bet is $100.
If you bet $100 on Tampa Bay at +152, and they win (by any score), you will walk away with $252 — your $100 original wager plus $152. (The favorite is listed at a negative number, while the underdog is at a positive number.
There is no requirement to wager $100. Although wagering limits vary between sportsbooks, you can wager any amount. You can bet $50 on the Bucs +152 and cut your wager in half. If they win, you would have $126. Your original $50 bet plus $76. Half of $152.
2. Against the Spread
Against the spread betting (commonly abbreviated as ATS) is probably the most common type of football betting. In Super Bowl 55, the Chiefs are three point favorites over the Buccaneers. On paper, this is written out as “Chiefs (-3)” or “Buccaneers (+3)”. The three point spread means that, if you bet on the Chiefs (-3), you only win your bet if the Chiefs win by four points or more. If the Chiefs win 25-23, for example, you’re outta luck.Last Updated on October 2, 2021