What is a moneyline bet? This guide explains what moneyline means, how it works and how you can place a moneyline wager.
What is a moneyline bet?
Moneyline is one of the simplest ways to bet on sports.
When you place a moneyline wager you are simply betting on the team or player you think will win the game in question.
There is no points or goals spread involved – all you need to do is pick the team you want to back and place your bet.
How does a moneyline bet work?
When placing a moneyline bet, you will be presented with two options – team/player A and team/player B.
All you need to do is select the team or player you think will win the game and place your bet.
Although placing a moneyline bet is very simple, there is one other thing that you need to understand.
Often you will see moneyline bets presented on a sportsbook with one positive and one negative three-digit number.
These numbers represent the odds for that particular moneyline bet.
The number preceded by a minus sign (-) usually represents the team that is the favourite for that game, with the plus sign (+) representing the underdog.
How do moneyline odds work?
The odds that usually accompany moneyline bets are known as American odds – this is the most common odds format found in the United States.
These odds are easiest understood in the context of a $/£100 bet.
The three-digit number accompanied by a plus sign – usually the underdog – represents the amount of money you would win with a $100 bet.
The three-digit number preceded by a minus sign – the favourite – represents the amount of money you need to bet to win $100.
An easy way to think about it is that the minus number will return less than your stake, while the plus number will return more.
An example of a moneyline bet
To help you further understand moneyline betting, let’s look at an example.
Ahead of the 2021 Super Bowl, the Kansas City Chiefs were the favourites, and were priced up at -165 on the moneyline.
This means that you would need to bet $165 to win $100.
On the other hand, the Tampa Bay Buccaneers entered as underdogs, and were +140 on the moneyline.
This means that you would win $140 from a $100 bet.
Does moneyline betting include overtime?
In sports leagues that automatically go to overtime to settle ties after regulation – such as the NHL and NFL – moneyline betting does include overtime.
So, if the game is a tie after regulation, yet the team you backed goes on to win, then your bet is a winner and you will receive your winnings.
If you want to place a bet that does not include overtime, you can use the win/draw/win market.
A win/draw/win bet is slightly more risky in that you don’t get the added buffer of overtime, but the odds reflect that in offering you a better price.
Visit Betway’s NHL betting page.