One of the easiest-to-understand bets is called a moneyline bet. Not only is it straightforward but there are only three possible outcomes. We're going to take an in-depth look at what a moneyline bet actually is, as well as how to place this type of bet. With that said, let's dive in and get to it!
What is a moneyline bet?
A moneyline bet is considered one of the easiest bets to win and is also a great option for those that are just starting out. In simple terms, a money line bet is where you bet on the team that will win.
There are of three outcomes, which are: Team A wins, Team B wins, or Team A and Team B ties or pushes. If the team you bet on is the one that wins, you'll get your original wager back, as well as your winnings.
For example, say you bet $100 on Team A. If Team A wins, you'll come away with $200 altogether. It's important to remember that you win if the team you bet on wins regardless of what the final score is.
You can bet pretty much anything you want, but bigger bets will give you bigger payouts.
How do moneyline bets work?
Moneyline wagers are super simple and it's pretty much cut and dry. You're betting on which team will win and if your chosen team comes out on top, you win! If the team you bet on does not win, you lose our original wager and won't receive any winnings.
There's also the chance that the teams could tie, which means you don't win or lose. This is also called a push and you'll get your original wager back without winning or losing any money.
The moneyline odds will be different depending on which teams are playing and which sportsbook you're using to place your bets. Before making any wagers, make sure you look at all of this information so you know how much you'll need to put down and how much you could potentially win.
Best Sportsbook Online
While there are many great sportsbook sites online, there are some that are definite fan favorites. We're going to take a look at five of the top sportsbook online sites to give you a better idea of where you can start placing your bets! All of these have multiple wagers, including moneyline bet options.
If you've been dabbling in online sports betting, then there's a high chance that you already know what DraftKings is. It's one of the most popular betting sites and you can easily play a moneyline bet with the click of a button. In addition to money line bets, you can also find almost any other bet you can think of.
There's a lot of competition, so there's a higher chance of getting a higher payout. It has its own app and even has a live betting section. It has many features available and the app is super easy to use.
When looking at deposit options, you'll see that you can use most major credit cards, as well as accounts from websites like PayPal. There's usually some type of bonus going on when you make your first deposit, so make sure you check that out.
You can withdraw your money through a check or PayPal. A check will take around 7-14 days and PayPal should have your funds available in 3-5 days.
The great thing is that the minimum deposit is only $%, but you can get bigger bonuses by making larger deposits. Your first deposit will give a 20% bonus, all the way up to $1000.
BetMGM comes from the same company that deals with the MGM casino line. With this being the case, you can expect a fun betting experience with tons of amazing features. Not only can you do a moneyline bet, but this site allows you to do a ton of other bets as well.
One of the great things about BetMGM is that it lets you place bets on niche sports, which can be quite hard to find with other betting sites. The navigation can be a little hard to master, but it's easy to get around once you've had a little practice.
With BetMGM, you have over 10 ways to deposit and withdraw your money, like check, major credit cards, and websites like PayPal. There are several different bonuses that you could get as well, such as deposit bonuses, parlay bonuses, and loyalty bonuses.
The minimum deposit is $10 and almost all methods will let you access your money immediately. The minimum withdrawal is also $10 and can take anywhere from 2-10 business days. The fees for both types of transactions are free and you don't have to worry about anything coming out of your balance. They also have other types of casino games, which is great for those that want to bet and gamble!
FanDuel has gained a lot of popularity throughout the last few years. The platform itself is very user-friendly and shouldn't take long to master. You have plenty of bet options, including money line and point spread. In addition, there are tons of different sports and tournaments that you can bet on, which means you can maximize how much you're actually winning.
While FanDuel has been offering daily fantasy sports for a long time, they just recently started offering sportsbook betting. Since it's new, it might not seem like much but it has a lot of impressive features that makes betting easy!
They have multiple deposit and withdrawal options, including major credit cards, a prepaid FanDuel card, and sites like PayPal. The minimum deposit is $10 and you can get a 100% match bonus up to $20. You can withdraw using methods like checks, prepaid cards, and PayPal.
There's a $10 and no fees to transfer your winnings. You can expect to use your money instantly and withdrawing takes anywhere from 2-10 business days. In addition to the deposit bonus, you can enjoy others as well, like daily odds boosts. They have many running bonuses and promotions, as well as specials, so make sure you see what they have to offer!
If you're looking for a sportsbook that only focuses on sports betting, then PointsBet is worth a second look. The company is based out of Australia and offers many different betting types, including favorites like money line and point spread. The site has been a big hit in the US and is super easy to navigate and use.
The app isn't available on too many platforms yet, but they are planning on expanding in the future. You'll have to confirm that you're in a state where sports betting is legal, but sign-up can be done in just a matter of minutes!
Not only does the site offer deposit bonuses, but they have several ongoing promotions to help you make the most of your betting. In addition, there are plenty of deposit and withdrawal options, like Visa, Mastercard, and online banking transfers. You should be able to use your money instantly and the withdrawals can take between 2-7 business days.
There are withdrawal limits depending on the sport, so large wins might need to be withdrawn in more than one transaction. There's also a rewards program that lets you earn points every time you place a bet and many loyal customers find that it's one of their favorite parts of the app!
5. Caesars Sportsbook
The final sports betting site where we're going to talk about is Caesars Sport Betting. This is another app that's backed by big names in the gambling industry and the platform does not disappoint. It has plenty of betting options, like parlay bets and moneyline bets. They have a very extensive rewards program that allows you to get things like freebies and comps.
You can also get various rewards that can be used both on the app and several Caesars locations around the world. They also have great customer service that tries their best to come up with a solution that works for your issue!
There are several options for deposit and each one will have a minimum deposit. For example, a deposit with your debit card is a minimum of $5 and can be used instantly, while a wire transfer is a minimum of $25 and can be used within 3 days. You can also withdraw using multiple methods and they also have minimums.
A bank transfer has a minimum of $25 and should be in your account within 3-5 days and PayPal has a minimum of $10 and should be available by the end of the next business day. It's a great site with a lot of great features and really shows appreciation for its loyal members.
Why do moneyline odds change?
Moneyline odds can change rather quickly and it's something you want to pay attention to. Many people aren't sure why they change like they do, but it's actually quite simple. One of the first reasons is because the sportsbook has to make money. They'll adjust the moneyline odds to make sure they're making some kind of money and not coming out with a loss.
The sportsbook will try to get the odds even on both sides of the moneyline so they can easily pay the winners. For example, if they have $200 in bets for team A and $200 for team B, they'll be able to use the wagers from those that lost to actually pay the winners. Changing the odds might seem like a bad thing, but having equal moneyline odds means you'll get paid if you do win.
The best way use moneyline bets
While moneyline wagers can work well for pretty much anyone or any situation, there are a few instances where it's the best bet to place. To begin with, moneyline wagers are great for those that are just starting out and aren't really sure what they're doing. The reason for this is that it's simple to understand and easy to win.
Another instance where a moneyline wager works best is when you only have a certain amount to bet. Since it's such an easy wager, you can double your money relatively quickly. Then from there, you can place more bets and check out other moneyline options. With that said, though, anyone can bet on the moneyline and it's not just limited to those that are just beginning or don't have a lot of money to bet.
Should I bet the moneyline?
If you're looking for something that's easy to understand and easy to win, then you should definitely bet the moneyline. It's one of the easiest bets to win and if your team wins, you'll win regardless of what the final score is or what happens in the game. Moneyline wagers are great for pretty much everyone and you might be surprised at how much you can win!
While it doesn't happen often, betting the moneyline on the underdog can give you a nice chunk of change. This doesn't happen very often, so make sure you're looking at all of the information and statistics before placing one of these bets. If you do bet on the underdog, you'll want to make sure you know exactly how much you're going to bet and how much you'll win if your team comes out on top.
What is moneyline bet parlays?
Moneyline parlays will take the amount of your bet if your team wins and place it on another team you choose. After the second team, you can either take your money and go or you can keep betting on other teams. A moneyline parlay doesn't do well if the odds are fixed, but ones that aren't fixed can have a pretty decent payout.
The moneyline parlay will keep adding up if the teams you choose keep winning or if all of the teams you chose win, but you can lose everything if one of your teams doesn't win. The great thing is that moneyline parlays can be calculated relatively easily, but you'll have to do a little bit of math to get an accurate amount.
Moneyline live betting
Not only can you bet on the moneyline for future games, but you can also do live bets. There's a few reasons why people like to do live betting. For starters, you'll be able to bet as the game is being played, which will give you an idea of which team is doing the best. Remember, even though you can bet after the game gets started, most sportsbooks will stop bets after a certain point in the game.
Another thing you can do if you're betting live on the moneyline is that you can change your wager as the game goes on. Like we stated above, though, you probably won't be able to change your wager after a certain point in the game. This means you'll want to get your final bets in before they close all wagers.
When can moneyline bets be canceled?
While this doesn't happen often, there are some instances where the moneyline wager can be cancelled. The wager will be cancelled if the game is postponed or abandoned. These situations won't affect the moneyline wager if the game is played within the next 36 hours. If it isn't, then you'll get your money back and you'll be able to bet on a different team or game.
It's important to keep in mind that most wagers can't be cancelled if it's something that bettor did, such as betting incorrectly or wagering the wrong amount. Some sportsbooks will let you change your bet, but you'll need to contact them as soon as possible. To avoid this, it's best to double-check everything before you place your final bets.
The three types of outcomes on a moneyline bet
Regardless of where you place a moneyline bet, there will be one of three outcomes. These are listed below.
- Team A Wins
- Team B Wins
- Team A & B Ties
If your team wins, you'll win your original bet plus your winnings. If they lose, you won't get any money back or have any winnings. Finally, if the two teams tie, you'll get your wager back without paying or winning anything.
Moneyline and the point spread
Two of the most common types of betting in sports are the moneyline bet and point spread bet. Both of these are relatively easy to understand and you could win a nice chunk of change. We talk about each one more in-depth below.
A moneyline bet is one of the easiest and most common bets in sports. All you do is bet on the team that you think will win. If they win, you get money, and if they lose, then you don't get any money. A tie, or push, will result in you getting your wager back without any winnings or losses.
Point Spread Bet
While a point spread bet is super easy to understand, it can be hard to hit. First, you'll have to bet on the team that you think will win. In order to actually win a point spread bet, the team you chose will have to win or not lose by a certain number of points that's already predetermined. This means you won't win anything if your team doesn't meet those numbers, even if they win the entire game.
Moneyline sports betting FAQ
Before wrapping up, we wanted to put together a little area for frequently asked questions. While this section isn't as thorough as the others, you can check here if you're looking for a quick answer!
What is Moneyline vs spread?
Moneyline is when you bet on one of the teams to win, while a point spread is where you bet on a specific team to win, as well as how many points they'll win by or not lose by. A point spread can be difficult to win, but a money line bet is relatively easy.
What happens if you bet a money line and they tie?
If you bet moneyline and the team tie, it'll end in a push, which means you'll get your original wager back but you won't gain or lose any money.
How do moneyline bets work?
With moneyline bets, all you do is bet on the team you think will win. If they do, you'll win your bet and if they don't, you'll lose. In addition, a tie will result in a push where you won't win or lose anything.
Do you have to bet 100 on moneyline?
You don't have to bet $100 on the moneyline and that's just how the odds are set up. You can bet as much or as little as you want, but keep in mind some places have a minimum betting amount.