What Does Moneyline Mean

Money lines (also called American Odds) are one of the most common ways to bet on sports. They do not use a point spread, and are straight-up bets on who will win the game or event.

What is a money line bet? What do I need to know when betting the moneyline? Can I parlay moneyline bets? We answer all these sports betting questions in thi. Win% – Percentage of wins required to show a profit at a given money line. For example, you would need to win 80% of all of your bets just to break even if you only bet on -400 money line favorites (over 80% to turn a profit). Moneyline Conversion: Odds to Percentage Chart.

To properly explain how to bet the money line, the first thing to understand is the difference between a negative and positive money line. Both money lines use $100 as the basis point for calculating payouts, but they're calculated differently.

How to Calculate Money Line Payouts

A negative money line is indicated with a ‘-‘ in front of a number, like -230. The number represents the amount of money that would need to be wagered in order to win $100 in profit. So, a -230 money line would require a wager of $230 to win $100 more, for a total payout of $330 ($230 wager + $100 profit). Of course a $230 bet is not required, it's just the basis for calculating the payout. With odds of -230, a $23 bet would return $10 in profit, or a $2.30 bet would return $1 in profit.

A positive money line is indicated with a ‘+' in front of a number. In this case, the number represents the amount that would be won from a $100 wager. So, a +170 money line means that a $100 wager would return $170 in profit, for a total payout of $270 ($100 wager + $170 profit = $270). A bet of $10 would result in a $17 profit, and a total payout of $27 ($10 wager + $17 profit = $27).

More About Negative Lines

Generally a negative money line represents the favored team in a match. There are exceptions to this and we'll discuss that later. For now, think negative money line = favorite.

In most two-team games like football, baseball or soccer, one team will have a negative money line, and the opponent will have a positive money line. The team with a negative money line is the favorite, and the team with the positive money line is the underdog.

Example:

• New England Patriots +140
• Indianapolis Colts -160

In this case, the Colts are the favorite. It would take a bet of $16 to win $10 in profit, for a total payout of $26 ($16 wagered + $10 profit = $26). For the Patriots, as the underdog, it would only take a bet of $10 to win $14 in profit, for a total payout of $24 ($10 wager + $14 profit = $24).

Since the favored team is considered more likely to win, and because no handicap is being used, it takes a larger wager to win a smaller profit on them.

More About Positive Lines

In a 2-team game where one team has a positive money line, they are always the underdog. Since they're underdogs, it requires a smaller wager to win a larger profit.

Example:

• Pittsburgh Penguins +130
• New York Rangers -150

In this case, a bet of $10 on the Penguins would result in a $13 profit if they win, for a total payout of $23 ($10 wager + $13 profit = $23). For the Rangers, it would take a bet of $15 to win $10 in profit, for a $25 total payout ($15 wager + $10 profit = $25).

Games Where Both Teams Are Negative

In games like baseball or football, it's not uncommon to see both teams represented with a negative money line. When this happens, it means the teams are very closely matched.

For Example:

• New York Yankees -113
• Boston Red Sox -107

In the scenario above, the game is considered very close, with a slight edge towards the Yankees. It would require a bet of $113 to win $100 on the Yankees, or $107 bet to win $100 on the Red Sox.

Sports With Multiple Teams or Competitors

Of course there are sports with multiple competitors in a single event, like horse racing, Olympic events, and golf. This is also the case in futures bets, where the handicapper is choosing between multiple teams to win a seasonal champion.

In this case, there will generally be one favorite, indicated with a negative money line, and the rest of the field will have positive money lines. Sometimes, when there are no clear favorites, there may not be a single competitor with a negative money line. In this case, the competitor with the lowest positive money line is favored.

Example:

Tiger Woods +600
Phil Mickelson +850
Martin Kaymer +1300
Lee Westwood +1600
Steve Stricker +2300

In this case, Tiger Woods is the favorite, but he has a positive money line. A bet of $10 on him would result in a $60 profit if he wins. A bet of $10 on Steve Stricker would result in a $230 profit if he were to win.

Converting Moneyline Odds to Fractional Odds

We all learned how to do fractions in elementary school, and once you understand money line odds, the conversions are simple.

How to Convert Positive Money Lines to Fractional Odds

To convert a positive money line into fractional odds, divide the number in the money line by 100.

Examples:

• +250 Money Line: 250/100 = 2.5/1 (5/2) Fractional Odds

• +400 Money Line: 400/100 = 4/1 Fractional Odds

• +650 Money Line: 650/100 = 6.5/1 (13/2) Fractional Odds

How to Convert Negative Lines to Fractional Odds

To convert negative money lines to fractional odds, divide the number in the money line by 100. Put that number on the right side of a fraction which begins with ‘1/'. Some numbers on the right side of the fraction will have a decimal in them. Since decimals are not used in fractional odds, they are removed by multiplying both numbers in the fraction by 2.

Examples:

• -200 Money Line: 200/100 = 2. Put the 2 on the right side of a fraction beginning with 1/, resulting in fractional odds of 1/2.

• -350 Money Line: 350/100 = 3.5. Put the 3.5 on the right side of a fraction beginning with 1/, resulting in fractional odds of 1/3.5. Multiply both numbers in the fraction by 2 to remove the decimal = 2/7 fractional odds.

• -650 Money Line: 650/100 = 6.5. Put the 6.5 on the right side of a fraction beginning with 1/, resulting in fractional odds of 1/6.5. Multiply both numbers in the fraction by 2 to remove the decimal = 2/13 fractional odds.

Converting to Decimal Odds

Positive money lines show the profit that would be won from a $100 bet, not including the original wager. Negative money lines show the wager required to win $100 in profit. Neither of these reflect the total payout. This is different in decimal odds.

Using decimal odds, a handicapper can easily calculate their entire payout. For example, a team with decimal odds of 3.0 would be multiplied by the wager amount to calculate the entire payout. A $20 bet with 3.0 decimal odds would pay out a total of $60 ($20 x 3.0 = $60).

The calculation to convert a positive money line to decimal odds is different from the calculation of a negative money line to decimal odds. Here's how they convert:

How to Convert a Positive Money Line to Decimal Odds

To convert a positive money line to decimal odds, divide the money line by 100, then add 1.

Examples:

• +200 / 100 = 2 + 1 = 3.0 Decimal Odds

• +350 /100 = 3.5 +1 = 4.5 Decimal Odds

• +625 / 100 = 6.25 +1 = 7.25 Decimal Odds

Negative Lines to Decimal Odds

To convert a negative money line to decimal odds, start with the number 100 and divide it by the number in the money line, then add 1.

Examples:

• -200 Money Line: 100 / 200 = .5 +1 = 1.5 Decimal Odds

• -350 Money Line: 100 / 350 = .286 +1 = 1.286 (1.29) Decimal Odds

• -625 Money Line: 100 / 625 = .16 +1 = 1.16 Decimal Odds

Pros & Cons of Money Line Bets

When compared to a point spread, for the underdog, the benefit of a money line bet is the increased odds a handicapper receives. For the favorite, the benefit is that no handicap is given to the underdog, making it more likely their bets will win.

For the underdog, the negative is that they don't receive a handicap, making it more difficult to win these bets. For the favorite, the negative is that the punter receives lower odds than they do when they're giving up points on the spread.

Comparing the money line to the run line in baseball or puck line in hockey, the benefit ‘can' be slightly reduced juice (vig, or commission). For example, many online sportsbooks charge a 5% vig on baseball or hockey money line bets. However, it's harder to find reduced juice on run lines and puck lines, where punters normally pay 10% vig. Over the course of a season and a lot of bets, 5% can be the difference of being a winning or losing handicapper.

Money lines are the most popular way to bet on MLB baseball and NHL hockey, so the lines can move dramatically from the time they're posted to the time they close. If you know how to watch lines move and predict where they're going, money lines can offer a lot of value. For example, when betting on big underdogs in baseball, the best money line odds can often be found as soon as the lines open – before other bettors see the same value you do and bring the odds down. For big favorites, it's often best to wait until 1-2 hours before game time. For big games with a lot of action, sharp bettors often place big wagers just before a game, which can also create optimal betting opportunities.

For casual bettors, money line bets are easier to make. There is no point spread to mull over, and all that matters is that you choose the winner.

We are about to explain what a moneyline bet is, how it is used and whether it is a good betting system. Basically, this is a wager that you place on which player or team will win a given sports event. This is one of the best options for baseball and hockey. It is considered a secondary alternative to point spread. The term originated in the US and is used in some native sports.

However, a money line bet is also used in other sports outside of the United States, where it is called a win bet. The name is different but the principle is all the same. In this post, we will give you more details about this system and have betting lines explained completely. We will also offer several tips. You will see that it is not complicated at all. Let's get it started.

List of the top moneyline payouts bookmakers

* T&C's apply, 18+.

The Difference between Moneylines and Point Spread

In most cases, you want to use a money line bet on a sports game or match where only two outcomes are possible, such as a basketball game, where you will have to choose which one of the two teams will win the game. When it comes to a point spread, you are interested in which team wins and by how much. Let us give you a more detailed example to illustrate that.

Imagine that you want to bet on an upcoming basketball match and your preferred bookmaker has set a point spread as follows: -5.5 for team A and +5.5 on team B. This means that team A has better chances of winning, according to bookmakers. The numbers here mean that once the game is over, the sportsbook will deduct 5.5 points from the team's total points. Hence, if you place a wager on them, you will win if they have at least six points more than their opponent.

In this situation, team A is the favourite, and team B is the underdog, i.e. the one that is expected to lose the game. For this point spread bet to be valid, once the game is over, the sportsbook will add 5.5 points to the team's total. For your bet to be successful, they will have to lose or win by less than six points.

The main idea of the sportsbook is to make a betting proposition of 50/50 where the likelihood of team A winning by six points is just the same as the likelihood of team B losing by less than six points. In comparison, when it comes to a money line bet, you only choose who will win according to you. The purpose of the point spread is to create interest in bettors on both teams. The numbers have to be so appealing that both the favourite and the underdogs are backed. It goes without saying that the odds need to reflect the point spread. In this case, they could be -110 vs. +110 in moneyline odds, which is 1.91 on team A and 2.10 on team B in decimal odds.

If you find other odds for the same game, but there is no point spread, they will probably reflect the same proposition that team A is more likely to win against team B. They could be expressed like that: 1.42 on team A to win and 3.10 on team B to win. But, if you take a close look at them, you will see that this is not a 50/50 proposition. In this case, you only need the team you back to emerge a winner. It does not matter how many points they will score over their opponents. They just have to win the game. And that is the difference between a point spread and a moneyline wager.

One thing you need to remember is that the favourites always get lower odds than the underdogs (e.g. 1.42 vs. 3.10) because the former are more likely to win than the latter.

So, what is the money line used for? The right question would be: when is it used? And the answer is, a moneyline wager is used when a point spread opportunity cannot be created. There are games like soccer, hockey and baseball where the victory margins are so minute that a point spread becomes irrelevant.

How are Moneyline Payouts Calculated?

For the purposes of having lines explained, we are going to use the moneyline odds format, but we are going to write the decimal odds equivalent in brackets, so it is easy to see what we are talking about. You can solve the given equations easily with your mobile or a regular calculator.

The simplest way to calculate the payouts of a moneyline wager is to divide the moneyline odds by 100. The purpose is to get a decimal. For instance, if the favourite in a game is given odds of -240 (expressed in the decimal odds format, that would be 1.42) and you want to bet on that outcome, you should divide 240 by 100 (do not mind the negative). You get 2.40. Next, you should divide the amount you want to stake by the number you just got. Let's assume you want to stake £200. Your calculations would be as follows: 200 / 2.40 = £83.33. This would be your potential payout given the odds and your stake.

Now, for the sake of understanding betting lines, we ought to give you the formula for the negative American odds. Here it is:

Stake / (Odds / 100) = Your Potential Profit

If you want to place a money line wager on the underdog, there is a slight change in the formula. Again, you should divide the odds by 100 (ignoring the positive). After that, though, you should multiply rather than divide the amount of money you want to stake. You will get:

(Odds / 100) x Stake = Your Potential Profit

Assuming the odds on the underdog are +210 (expressed in the decimal odds format, that would be 3.10), and you want to stake £150, you get the following calculations:

(210 / 100) x £150 = 2.10 x £150 = £315

It makes sense to generate more profits from the underdogs winning since they have smaller chances of being successful. If you keep on wondering, 'What does money line mean?' continue reading this post because we have some more valuable information to share with you.

Implied Probability and Moneylines

We are getting gambling lines explained in this post, and there are a few more things to say in order to make our explanation more accurate and comprehensive. So, what we want to talk about next is probability. Each and every moneyline bet has an implied probability. You should make sure you understand that before you place such bets in the future, especially if you want to generate some profits from them. The term is used to describe how often your bet should be successful to break even. Here is how to calculate that:

Implied Probability of Moneyline Bet = Risk / Return

The original amount of money you stake on a bet is assumed to be the risk, whereas the original amount you stake plus the prospective profits are considered to be the return.

Using the same odds as the examples above, we get -240 (1.42) on the team we want to bet. This means that we need to stake £240 to win back £100. In this case, it equals a total of £340 if we win. So the risk is £240, and the return is £340.

£240 / £340 = 0.7059 (Implied Probability)

Please note that implied probability is always depicted as a number between 0 and 1. We already explained that in the previous sections of our betting guide. Please refer back to them for more details. And as we have said it before, in most cases, implied probability manifests itself as a percentage. The result we got, 0.7059, equals 70.59% (you convert it into a percentage by multiplying the number you get by 100). The suggested percentage demonstrates that the team you want to bet on has a 70.59% chance of winning.

If you think that the team has even bigger chances of winning than what the odds' implied probability suggests, which is referred to as expected value, then you should bet on the said team. If your estimations are accurate, you will make a profit from your moneyline bet.

Now, if you plan to bet on the underdogs who happen to have odds of +210 (3.10), these odds designate that in order to win £210, you need to risk £100. If you won, you would get a total of £310 (£210 return plus the initial stake). Hence, the calculations would look like this:

£100 / £310 = 0.3226

Converted into a percentage, this would be an implied probability of 32.26% of your moneyline bet. Now, despite the small percentage, it will be a good idea to back that team if you think that they have greater chances of winning than 32.36%.

Continue reading this article. We believe that at the end of the page you will be able to give a confident answer to the question: 'What does money line mean?' It just takes a few more things to say, so you get the whole concept right.

Shopping Moneyline Bet and Removing Vig

Like we said above, we are here to assist you in understanding lines and so we have to explain a few more things. Taking into account the above calculations, we obtained a 32.36% implied probability for the underdog to win and a 70.59% implied probability for the favourite to win. When we add these two numbers together, we get 102.95%. Do you see that extra 2.95%? This is called vig and, technically, it represents the advantage of the sportsbook. That is, every time you place a wager, you are charged a small commission.

The fair odds can be calculated by removing the vig. For the purpose, you ought to add the two implied probabilities like we did above and divide their total by every probability individually. Here are the calculations:

What Does Moneyline Mean On Bovada

70.59% + 32.36% = 102.95%

32.36% / 102.95 % = 31.43 %

70.59% / 102.95% = 68.57%

This is the no-vig implied probability for each moneyline bet we discussed above. Note that if you add those two numbers together, you will get precisely 100%, which is the actual result without the bookmaker's advantage.

Using an odds converter on the Internet, you can easily see what the fair odds are. You just need to enter the two solutions into the field about probability. We have done the job for you. If you have a 31.43% implied probability, then the fair odds would be +218.17 (or 3.18). Typing 68.57% into the field returns odds of -218.15 (or 1.45).

We are trying to have lines explained in a straightforward way. We think that the above formula is quite easy to understand and use. However, many people erroneously think that they can get the fair odds using the 30 cents difference between the odds presented above. They believe that they need to add 15 cents to the team that is expected to lose (and which happens to have odds of +210), and deduct 15 cents from the team that is expected to win the game (-240). The end result here would be +225 (3.25) and -225 (1.44). However, this is not correct.

It is best to stick to the formula we gave you. If someone asks you 'What is moneyline?' make sure to show them this post, especially if they don't know how to properly remove the vig.

Needless to say, when you shop for lines, i.e. compare odds and lines at various sportsbooks, it is impossible to find the best opportunities without understanding how to calculate the vig and the fair odds properly, as this is the only way to determine whether there is a positive expected value or not. This will help you figure out whether a proposed moneyline bet is worth placing.

For instance, let's say you find odds of +450 for the team that is expected to lose and -550 for the team that is expected to win on the Internet. But then you also find that another bookmaker offers odds of -490 for the favourite, and you decide to go for it because the odds seem very appealing. But when we do the calculations, it turns out that after removing the vig from the odds we get fair odds of +466 and -466. Basically, this means that there is no value in the odds of -490.

Understanding gambling lines is paramount to making a profit from this kind of bets. Armed with this knowledge, you have a great advantage over a host of bettors who do not know what they are doing and are not aware how a moneyline bet works.

Strategy for Moneyline Bonus

The last step of having lines explained is to tell you how to make the most out of bonuses. There are two main types of bonuses as far as sports betting is concerned: free plays or cash. You can use a strategy for the first option. Why do you need one? Imagine you make a £100 bet on +100 odds (2.00). Your total return will be £200 (£100 winnings and your £100 stake). However, if you bet £100 free play on the same odds, what is the moneyline bet total that you get?

The truth is, you only get £100 in return. In other words, the free play gets used up no matter if you win or lose. Since, our goal is to make understanding punting lines easier and faster, let us suggest a solution to this problem.

The best way to avoid using up the free play is to make a moneyline bet at multiple sites. This probably sounds familiar to you. It is called hedging.

For example, you can place a £100 free play bet on the underdog with odds of +210. Then you can visit another bookmaker(here you will find list of bookmakers suitable for moneyline bet) and place a £150 cash wager on the favourites with odds of -240. If the underdogs win, the £150 cash you wagered on the other site will be lost forever, but you will have a return of £210. This means that you get a £60 profit. Now, if the favourites win, you will only lose the free play credit of £150, and you will generate a £62.51 profit.

As you can see, understanding gambling lines take time. In this section, we went above and beyond to explain how a moneyline bet works. We hope the information is clear to you. We also answered some burning questions that new sports bettors often ask themselves, such as: 'What does moneyline mean?' and 'What is vig?' We believe this article will be useful to you in the future. Do not hesitate to read it through over and over and practice the formula we gave to you. This is the only way to get better at it.

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If you are not into mainstream bets, check the ones in the table.

What Does Moneyline Mean In Betting

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