With all those different types of bets in MLB, beginners in sports betting must be really confused, so here I will explain the popular moneyline bet. Beginners may see all of those bets as imposing, but once they realize how they work and undestand them they will see how actually simple these bets are. One of those bets is the moneyline bet, a very common bet at sports betting sites and shops, especially in the case of MLB, NLF and NBA betting.
The Basics of the Moneyline Bet
The closest to the moneyline bet is the point spread. The point spread is concerned about which team will win and by how much, while the moneyline is concerned with who wins only, which makes it a much simpler bet to use. There is no handicap and the difference in points is not important in the moneyline. If I had to give the simplest explanation of a moneyline bet it would be “the amount that you have to wager in order to win a specific amount of money”. Let’s see this through a hypothetical baseball game.
When you are given moneyline odds, they look something like this:
White Sox -150
As you might know, these numbers tell you which team is more likely to win. The favorite is always assigned the negative number, and the underdog has the positive number similarly with point spreads. It’s called moneyline because here you can project these numbers as money to see how much you can win.
+130 in the above example means that you can bet $100 and for that you can win $130. If the Indians win you will get $130 as a reward, plus you will get back the $100 that you have wagered in the first place. The amount that you want to bet can be any. The way you calculate the amount that you can win is by converting the moneyline odds to +1.30. Then you just multiply the amount that you want to bet with the moneyline odd (eg. $15 + 1.3 = $19.5).
It’s the same if you want to wager on the favorite, in this case the White Sox (-150). However, to win $100 here you have to wager at least $150. When wagering on the favorite the amount that you need to wager will always be bigger than the potential payout. But, once you win the bet your bet amount will be given to you plus the winnings.
The Advantage of Moneyline
You don’t necessarily need to make a big number of bets when betting on the underdogs in order to attain a profit. If you make 10 consecutive underdog bets, $100 per game, with the average odds of +130, you can attain profit if you win only half of those bets. In such case you will lose $350, but you would win $650, which means a total profit of $150. In essence you have risked $500 and won back $650. Even if you win 4 of 10 consecutive underdog bets you can still be in profit. This profit would be a small one, only $22.5, but profit is a profit.
Be wise when making moneylines in MLB. This means picking as many high-value small to medium underdogs. This way you can make the most money from betting in the MLB.