Even if you are brand new to sports betting, there is a good chance you have heard or seen the term “money line” whether on the internet or one of the many sports apps, such as ESPN. But what does this mean as it pertains to the sports betting industry?
Luckily, the guide we have created below is set to explain what a money line bet is and how it works when it comes to making sports bets.
Money Line Definition
The definition of a money line is simply the wager you make on a team to win a game or event.
What is a Money Line in Betting?
When it comes to sports betting, the money line is perhaps the most straightforward bet you can make.
Depending on which sport you are betting on, the money line is likely going to be what you bet most often.
How Does the Money Line Work?
A money line bet simply works by you placing a wager on a team or a player in individual sports to win the game or event that is being played.
With most money line bets, there are only two outcomes. Either the team or player wins the event and your bet wins, or the team or player loses the event and you lose the bet you made.
How to read a Money Line
No matter what the money line is for a particular bet, it is important to know how to read it in order to calculate what that bet will pay out and how much it will cost you to bet. For example, if Team A had a money line of -250, it indicates they are the clear favorite. With this money line, you would be required to bet $250 in order to get a return of $100.
However, if the odds for Team B were +250, this indicates they are a heavy underdog. In this case, you would be able to bet $100 for a potential return of $250.
The closer a favorite “- money line” is to +100 (even), the less you will have to bet to get a return of $100. Conversely, the further a favorite “-” money line is from the same +100, the more you will have to wager to return a profit of $100.
In some cases, a team or player in an individual sport, such as boxing or MMA, could be a favorite of -2000. This means you would have to wager $2,000 to return a profit of only $100. Generally, these types of bets are not recommended because the amount you have to risk is not worth the minuscule return.
When it comes to a plus “+” money line, you will always be able to bet $100 to earn a profit of whatever the odds set are.
What Does -/+ Mean Next to the Money Lines
When viewing a money line, there are two things you will almost always see. One is odds with a minus “-“ sign, the other is odds with a plus “+”.
The odds with a minus “-“ sign indicate the team/player who is the favorite, and the odds with a plus “+” sign indicate the underdog.
There are exceptions to this general rule of thumb, which depends on which sport you are betting on. For example, in any given soccer game, there might not be a clear favorite, so to speak. In this case, it is possible that both teams will have plus odds.
As mentioned, usually having plus odds indicates the underdog, but in this scenario, the team with lower plus odds is the favorite, and the team with higher plus odds is the underdog.
To give a visual example, it would look like the following:
Team A: +140 (Favorite)
Team B: +180 (Underdog)
Another sport where you are likely to see plus odds for multiple teams/players is golf. Because golf is an individual sport, virtually every player in the “win outright” betting market will have plus odds.
Is it better to bet on Money Line Favorites or Underdogs?
Determining whether money line favorites or money line underdogs are better is almost always situational. Betting on money line favorites usually yields a much smaller return and requires you to risk more, but your chances of winning are higher.
Whereas, betting money line underdogs requires you to bet less for a higher profit, but your chances of winning are lower.
Each one has its advantages, so it is important to research each bet you want to make before making a decision.
How Are Money Lines Calculated & Made?
Money lines tend to be calculated in direct relation to the point spread. For instance, if Team A is an 8.5-point favorite, they are not going to have a money line of something like -130. Instead, it would be closer to -280 or something similar.
For sports that are more focused on the money line market, these are made by looking at the team or player as a whole, such as strengths and weaknesses compared to their opponent.
What Factors Influence the Money Lines
Like most bet markets, many factors can influence what the money lines will be for any particular game or event.
This can include weather for outdoor sports, form (how the team or player has performed in recent games or events), injuries (Is a team missing any key players? Are they at full strength?), home/away statistics, and many more.
What is Covering the Money Line?
The term “covering the money line” is simply another way to say whether a team won or lost the game being played. If a team covered the money line, it means they won, while a team who does not cover the money line lost.
How Money Lines Work in Different Sports
Below, we have explained how money lines work in a few different sports, which includes other ways to bet a money line across different markets.
Money Line betting in baseball
Baseball uses a standard money line bet as its main market, but there are a few different ways in which you can bet on a money line in baseball.
One being the full game money line. This is a bet made on the full 9-inning game. In this case, if the team you bet on wins the game, you will win the bet you placed. Keep in mind that if you are betting on a team playing at home and they are leading, after 8 ½ innings, they will not play the bottom of the 9th, in which case you will win your bet.
Another way to bet on a money line in baseball is the 5-inning line. This is a market that includes just half the game. Making this bet can be situational. Say Team A has the advantage in starting pitching against Team B, but their bullpen has been struggling and blowing leads. In this example, you could bet on the 5-inning money line to prioritize the starting pitcher advantage instead of having to trust the bullpen.
Money Line betting in hockey
Hockey also uses a standard money line market in its games, but again, there are different ways to bet on a money line in hockey.
The most common is the full game money line, which will include any potential overtime that is played. Another is a 60-minute line, which is for regulation only. In this case, the team you bet on must win after three periods of play and cannot win in overtime.
A third money line market is for each period. Seeing that there are three periods in a hockey game, you can isolate a team that may be better in the first period compared to the second or third period.
Money Line betting in Soccer
Like baseball and hockey, betting on soccer also uses the standard money line market, where you need to pick the winner of the game. However, in soccer, oftentimes there are draws, so when betting on the money line, there will usually be a draw line as well. These bets would look like the following:
Team A: Odds Draw: Odds Team B: Odds
An exception to this would be during a tournament, like the World Cup, where there cannot be draws during the knockout round. In this instance, there will be a separate money line bet called the “to advance” line. This bet would cover any extra time and penalties played, but usually has worse odds associated with it.
Other ways to bet on the money line in soccer include the first and second halves. For these bets, you are wagering on a team to win the first or second half of the game, respectively.
Final Word: Is Money Line Betting for You?
As with any type of bet, determining if money line betting is for you or not simply comes down to you.
In theory, money line betting offers the easiest type of bet to understand, as it simply asks you to pick a winner of any game or match.
This, in turn, takes out the need for the team you are betting on to win by a specific margin and instead just win the game by any amount.
Of course, there is plenty of risk when it comes to betting a money line, as generally, the team that is the favorite will have larger odds with much less return than if you bet on them in another market.
The best thing to do is try betting on money lines for yourself so you can get an idea of how they work and how they can be profitable over the long term, or not worth the risk with how much it can cost you to bet them.
Quick Glossary
-/+ Money Lines:
Generally, minus “-“ money lines indicate a favorite, and plus “+” money lines indicate the underdog.