Moneyline betting is an easy way to bet on sports and is very popular among sports bettors. With this type of bet, you just pick a team or athlete, like a tennis player, to win a game or match. The goal is straightforward: choose who you think will win; if they do, you win your bet.
Moneyline odds are especially popular with sports bettors who are beginners because you’re simply picking who will win. It’s one of the three most common ways to bet on sports, alongside Point Spread betting and Over/Under betting.
In a basic moneyline bet, there are usually two options: the favourite and the underdog. The favourite is expected to win based on factors like skill level, matchups, and sometimes home-field advantage. The underdog is less likely to win for similar reasons, but betting on them can offer higher rewards.
How Do Moneyline Bets Work?
As mentioned at the beginning of this article, Moneyline bets are all about picking the winner of a game or event. Unlike other types of bets, like point spreads or totals, moneyline bets focus only on the final result. Namely, whether a team wins or loses.
The way moneyline betting works is simple. Each team or player is given odds, shown as either a positive or negative number. These odds tell you who the favourite and underdog are, as well as how much you can win. A negative number, like -150, means you need to bet $150 to win $100, indicating that the team is the favourite. A positive number, like +200, means a $100 bet could win you $200, showing that the team is the underdog.
Moneyline odds reflect the chances of each team or player winning. The smaller the negative number, the more likely it is that the team will win. On the other hand, larger positive numbers mean the team is less likely to win.
Moneyline bets are popular because they are straightforward. You don’t need to worry about point spreads or how many points will be scored. All you need to ask is: Who will win? This simplicity makes moneyline bets a great choice for beginners, though experienced bettors also appreciate them as they are easy to understand.
The Three Possible Outcomes of a Moneyline Bet
Moneyline bets are straightforward, but they can result in the three different outcomes you’ll see in betting markets: Win, Loss, or “Draw”/“Draw No Bet.” Understanding these outcomes helps you know exactly what to expect from your bet.
Win
A ‘Win’ happens when the team or player you bet on wins the event. This is the simplest outcome and directly reflects your prediction. If you bet on a team with either positive or negative moneyline odds and they win, your bet is successful. The payout depends on the odds you placed your bet at, with underdog wins usually offering higher returns because of their positive moneyline values.
Loss
A ‘Loss’ occurs if the team or player you bet on doesn’t win. In moneyline betting, there are no point spreads to worry about—it’s purely about the win or loss outcome. If your chosen team or player loses, regardless of the score or how close the game was, your bet is lost, and you lose the money you wagered.
Draw or Draw No Bet
A Draw is a possible outcome in sports where ties can happen, like soccer or boxing. If the event ends in a draw and you didn’t bet on that outcome, the bet is usually void, and your money is returned.
However, some sportsbooks offer a Draw No Bet option, where you can bet on either team to win, excluding the possibility of a draw. In this case, if the event ends in a draw, the bet is still void, and your money is refunded.
This option reduces risk by eliminating the draw outcome, letting you focus only on a win or loss. It’s especially popular in sports where draws are common, but bettors prefer to back a clear winner.
Pros and Cons of Moneyline Bets
Pros
· Simple to Understand: The biggest advantage of Moneyline bets is how easy they are. You’re just betting on who will win the game, which makes them great for beginners.
· High Potential Returns on Underdogs: If you bet on an underdog and they win, the payout can be significant compared to the amount you wagered.
· Good for Dominant Teams or Players: If one team or player is stronger, Moneyline bets can be a safe way to earn a modest return.
Cons
· Low Returns on Favorites: Betting on favourites often leads to small returns. You might have to risk a lot of money just to win a little.
· Not Ideal for Close Matchups: When teams are evenly matched, it’s harder to pick a winner, which increases the risk of losing your bet.
· No Middle Ground: Unlike point spread bets, there’s no buffer. Your team or player must win outright, or you lose your bet.
Simple Steps to Bet on the Moneyline
If you’re new to sports betting, understanding how to bet on the moneyline is essential. Here’s a quick guide to help you get started:
· Understand the Basics: A moneyline bet is simply a bet on which team or player will win the game outright.
· Know the Odds: Moneyline odds are displayed with a plus (+) sign for underdogs and a minus (-) sign for favourites.
· Assess the Teams: Take a close look at the strengths, weaknesses, and recent performances of the teams or players.
· Decide Your Wager: After evaluating the teams, choose the team or player you believe will win.
· Place Your Bet: Go to your chosen sportsbook, find the event, select your pick, and place your moneyline bet.
Top 5 Moneyline Betting Tips
Research Thoroughly: Look into team or player histories, recent performances, and statistics.
Consider Outside Factors: Pay attention to variables like weather conditions, injuries, or team morale, which can impact the outcome.
Value Betting: Look for opportunities where the potential payout outweighs the risk, especially with underdogs.
Bankroll Management: Only bet what you can afford to lose. Set a budget and stick to it for responsible betting.
Avoid Emotional Betting: Don’t let your feelings or personal opinions affect your choices. Stay focused and think clearly.
Best Sports for Moneyline Bets
Moneyline is one of the easiest bets to place and is also the most common.
It can be used in the majority of sports, however, we have only listed the major sports below:
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Football
Both American football and soccer are great choices for moneyline bets. In American football, with its high-scoring games, picking the outright winner is often straightforward, especially when a strong team faces a weaker opponent. In soccer, where low-scoring games are common, matches often come down to a single goal, making moneyline bets popular among those who understand team dynamics well.
Baseball
Baseball is ideal for moneyline betting because of its low-scoring nature and the significant impact individual players, especially pitchers, can have on the outcome. Bettors can make informed decisions by analyzing the strengths of pitchers and the batting form of teams.
Boxing and MMA
Combat sports like boxing and MMA are perfect for moneyline bets since they focus on who will win, lose, or draw without worrying about point spreads. The outcome depends solely on the performance of the competitors, making the betting process more straightforward.
Basketball
Even though basketball is a high-scoring game, its fast pace and the clear differences in team strengths make it a good fit for moneyline betting. Upsets are less common in basketball compared to other sports, allowing bettors to feel more confident when picking favourites.
Hockey
Hockey, like baseball, features low-scoring games and the influence of key players like goalies, making it a great sport for moneyline bets. The outcome often depends on a single play, adding excitement to the betting experience.
Tennis
The moneyline wager is one of the most popular options in tennis betting because it’s easy. This type of bet involves choosing which player you believe will win the match.
Golf
Bettors can bet on moneylines, where they predict which golfer will win a particular round. This type of bet is simply betting on the golfer that wins the round.
Formula 1
Formula 1 and motorsports odds work much like moneyline odds in NFL or NBA betting. You can bet on who will win the race, who will get pole position, and other outcomes for each Grand Prix event, as well as who will win the championship.
Pros and Cons of Crypto Exchange Betting
Pros
Great Odds: You can get really competitive odds, which means more chances to win more.
Secure and Private: Using Bitcoin and other cryptocurrencies gives you high-level security and keeps your identity private.
Accessible Everywhere: These services are available in many different regions.
You won’t get Banned: You won’t get banned or limited by the operator. If you’re a pro bettor who’s been restricted by traditional sportsbooks, an exchange might be a better fit for you. The key is finding someone willing to take the other side of your bet. The operator doesn’t care if you’re successful since your wins don’t affect them directly.
Cons
Limited Promotions: There aren’t many special offers for new customers.
High Commissions: The commission rates can be pretty steep and might put some people off.
Limited Exchanges: There are not many sportsbooks that offer a betting exchange.
How to Choose the Right Betting Exchange
Reliability
Before choosing the first betting exchange you come across, make sure it’s trustworthy. A reliable platform will have proper certifications and licenses, which you can verify. This not only ensures the service is legal but also reliable. Be cautious of platforms without these credentials, as they might not be safe to use. Checking customer reviews is another great way to see what others have experienced with the site.
Liquidity
When it comes to betting exchanges, liquidity refers to the amount of money available for bets. For a bet to be successful, there needs to be another bettor to match your bet. If an exchange has low liquidity, there may not be enough users to match your bet. Make sure the exchange you choose has a good amount of liquidity so you can place bets without issues.
Range of Markets
When choosing a betting exchange, have a look at the variety of markets they offer. Even if you prefer a specific sport, it’s always nice to have options to explore other sports or events.
Commission Rates
Betting exchanges make their money by charging a commission on winning bets. This can range from 0% to 5%, but some platforms might charge higher fees. It’s important to choose an exchange with reasonable commission rates. Look for platforms that charge around 2% if possible.
Welcome Bonuses
Some crypto betting exchanges offer bonuses to attract new users. These might include free bets and welcome bonuses. Choosing an exchange with good bonuses can give you a head start without risking too much of your own money.
Payment Methods
If you are using cryptocurrency for payments, make sure the exchange you choose supports Bitcoin and other cryptos. While cryptocurrencies like Bitcoin are generally secure, you still need to verify that the platform itself is safe and reliable.
Usability
The platform’s usability is very important and a good betting exchange should have a user-friendly interface that’s easy to navigate, even if you’re not tech-savvy. Look for a website or app that’s well-designed, responsive, and optimized for mobile devices.
Customer Support
Lastly, good customer support is essential. The exchange should also offer you various ways to contact support such as live chat, email and telephone. They should also be available 24/7.
Best Sports for Exchange Betting
Here are five popular sports that people often use betting exchanges to bet on:
Football (Soccer)
Football is one of the most popular sports for betting exchanges, especially in Europe and South America. The vast number of matches, leagues, and tournaments means there’s always something to bet on. Whether it’s betting on the outcome of a match, the number of goals, or even specific player performances, football offers a range of markets that are perfect for both back and lay betting.
Horse Racing
Horse racing has a long history with betting exchanges, particularly in the UK and Ireland. Bettors can back or lay horses in various races, from small local events to major international competitions like the Grand National or the Kentucky Derby. What makes horse racing appealing on betting exchanges is the dynamic nature of the odds, which can change in the blink of an eye as more information about the horses, jockeys, and conditions becomes available.
Tennis
Tennis is another sport where betting exchanges are widely used, especially during major tournaments like Wimbledon, the US Open, and the French Open. Tennis matches offer loads of betting opportunities, from predicting the overall winner to betting on individual sets and points. The fast pace of tennis also means that odds can change quickly, providing opportunities for in-play trading.
Cricket
Cricket betting on exchanges is particularly popular in countries like India, Australia, and the UK. The long duration of cricket matches, especially Test matches, allows for lots of in-play betting, where odds can fluctuate dramatically during the game.
Basketball
Basketball, particularly the NBA, is a favorite among betting exchange users, especially in the United States. In-play betting is particularly popular in basketball, as the odds can shift significantly with every quarter.
Frequently Asked Questions
Below we have compiled a list of common questions asked about Moneyline Betting using Cryptocurrency
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What is moneyline betting?
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Can I use cryptocurrency to place moneyline bets?
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Is it safe to use cryptocurrency for moneyline betting?
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What are the benefits of using crypto for moneyline bets?
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How do I deposit cryptocurrency for moneyline betting?
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Can I withdraw my winnings in cryptocurrency?
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Are there any fees associated with crypto moneyline bets?
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Can I convert my crypto winnings to cash?
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Do sportsbooks offer bonuses for using cryptocurrency for moneyline bets?
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Do the odds change when betting with cryptocurrency?