Moneyline betting is probably what most Australians think of when they first think about sports betting. It truly is the simplest bet a punter could ever make. This makes them rather popular with beginner bettors. They can also be used to rake in huge wins if you make successful parlay bets and are pretty sure about your prediction.
If you are unsure about moneyline bets and would like to learn more about them, we have created the ultimate sports betting guide right here. Below we get into providing punters with a good definition of moneyline betting as well as the advantages and disadvantages of placing them, among other things.
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How do Moneyline Bets Work?
Quite simply stated, our guide states that moneyline betting involves picking a winner for a sports matchup that may involve teams or individuals. If punters pick correctly, they win the bet. The bet does not involve looking into anything that happened in the game other than the result. It doesn’t matter if one team outplayed another or if how long it took the team to win the game, it focuses on the end result. (This is why some sportsbooks refer to these bets as “Match Result” or “To Win” wagers.)
At most betting sites, there are generally two different types of moneyline bets to cater for the different types of sports. Basically, some sports, such as ice hockey, always see a match win with a victor. So, if the game ends in a draw at the end of the regulation period, the game will enter overtime, and in the case of ice hockey, a shootout afterwards. In such instances, punters have the chance to place moneyline bets that only cover the game’s regulation period, in which it can end in win, draw or loss. Or, they can place bets that cover overtime too and anything thereafter. These bets can only end in a win or a loss.
Both variations of the bet follow the same basic principle of picking a manner for the match to end, except one provides punters with more betting options. With all that said, moneyline bets are and will remain to be the easiest possible bets to make at any sort of sportsbook.
Understanding Moneyline Betting Odds
Odds are ultimately what tell you how much you could make on a potential wager. Thus, understanding how to read them is quite important. There are three different types of way in which odds can be represented to punters. In Australia, the most popular format for displaying them is the decimal odds system.
Decimal odds are extremely easy to read and calculate. Although most sportsbooks will automatically show you how much you can win by making a particular wager, we will show you how to do it for yourself if you like. So, let’s say you want to place a moneyline bet on an AFL match between Richmond and Collingwood. The odds will most likely be represented in the following manner:
Punters can easily see which team is favoured to win in this matchup by the sportsbook. The one thing to keep in mind with moneyline bets is whether you are placing a worthwhile bet. Sometimes, placing bets on favourites just isn’t worth it, whereas other times sportsbooks undervalue likely victors. So, be on the search for such bets.
Moneyline Betting Strategy
There are a couple of different popular strategies punters can use when placing moneyline bets at online sportsbooks. Some of our favourites – as well as easiest to understand – include the following:
- Predict Line Movements – now moneyline betting lines have a tendency to move in the lead-up to the match quite frequently. If you are able to correctly predict whether the line will move up or down and what, in general, causes it to move, then you’ll be able to capitalise on the movement and make more money from your bet. Remember that odds are based on a number of things, including how the public votes, how the team or player is performing as well as any injuries that pop up in the lead up to the match.
- Don’t Focus on Favourites – it’s important to note that if one team or player is heavily favoured to win a match, it usually isn’t worth betting on them. In some instances, you may have to bet a ridiculous amount in order to win a big payout. Some instances could have punters betting AU$1000 to win AU$100, which is quite a big risk even if it seems like the team is sure to win. Also keep in mind, that on the off chance that they lose (which is entirely possible), you will also lose that money.
- Search for Value Bets – one of the quickest ways to make money at a sports betting site is to search for value bets. This is to look for bets in which the sportsbook has undervalued a particular team and then capitalise on this. It is important to note that the win-loss ratio of a team doesn’t always mean that they are guaranteed to win or lose a matchup, and sometimes betting lines seem to be built on this stat.
Advantages of Moneyline Bets
There are a number of advantages associated with placing moneyline bets. Here are some of the most important to keep in mind:
- Simplicity – it cannot be stressed enough that these are the easiest bets to make at a sportsbook. They also promise punters a strong return if they make a successful bet. Some bettors think that you need to make ridiculously complex bets in order to make a good return and moneylines prove that is not true. All you have to do is find a bet with value and pick a winner. If you are successful, you’ll get a real money reward.
- Great Starting Point – if you know nothing at all about sports betting, moneyline betting is a good entry point. Let’s not lie, sports betting can seem like a very confusing hobby that entails too much work if punters are overloaded with information from the get-go. Moneyline betting allows bettors an easy opportunity to make a bet without needing to go through guides galore just to understand what they are doing.
- Finding Value is Easy – as moneyline betting simply requires punters to predict a winner, it is easy to find potential value bets. Sometimes, you know which team that a particular team has an edge going into a matchup and that a sportsbook has undervalued that side. Bettors can then use this to their advantage to make money if their prediction proves to be correct.
Disadvantages of the Moneyline Betting System
There are some negatives to moneyline betting that punters may want to think about before placing such wagers. These include the following:
- No Room for Error – although this is pretty much true for many bets, punters do have another option when betting on potential match results in the form of spread bets. These bets allow punters some breathing room for results when betting on underdogs. Moneyline bets, however, require bettors to be on the nose about the winner.
- Betting on Favourites isn’t Always Worthwhile – betting on favourites isn’t always worth it as it requires bettors to place big sums of money on the line to win very little. On the chance that the bet is unsuccessful, you’ll lose a lot of cash for what was potentially a non-existent reward.
- Breaking Even Requires a High Win Percentage – while this is only true if you consistently bet on favourites, it is something that you need to keep in mind when placing your wager. Betting on favourites is not a bad thing, but one thing to always keep in mind is that those who live by the sword, die by it. You don’t want to bust your bankroll with ill-placed moneyline bets
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