Line Betting Explained
Money line odds will be offered on each outcome that reveal their chances of occurring and also disclose how much can be won when risking some bankroll on it. Money line odds allow for bets to be placed on which competitor will win the game, and does not involve the use of point spreads. If it’s the same product, it only makes sense to purchase it at the lower cost. It’s the same thing with sports betting odds and a crucial factor for long-term success in wagering on moneylines. Just like your mama said, you better shop around, especially for moneyline odds.
If the bet wins, the sportsbook would pay $250, which is the stake ($150) plus the win ($100). A favorite is always represented with a minus sign on the moneyline. Essentially, a moneyline bet is a bet on which team is going to win the game.
Understanding the implied probability can help you to identify valuable betting opportunities where sportsbooks may have underestimated a team giving you a good opening. While bets do have implied probabilities, sportsbooks add something known as the vigorish or cut. The fee you pay on each bet is there to make sportsbooks a profitable business, so make sure to factor that amount in when calculating what your potential profit is.
Let’s take the same example above in a different context to illustrate a scenario where a sportsbook would have to tweak their lines. Tie – A wager in which no money is lost or won because the teams’ scores were equal to the number of points in the given pointspread. Straight-up – Winning the game without any regard to the pointspread; a money-line bet. Opening line– The earliest line posted for a particular sporting event. Line – The current odds or pointspread on a particular event. Half-time bet – A bet placed on scoring in the second half of a game only.
On top of that, this game is part of a doubleheader, so it was a 7-inning game, giving the Dodgers less time to pull away. If you bet on the Patriots -7, they must win the game outright by more than 7 points. This is explained in more detail below, but the most important thing to be aware of is that negative numbers represent favorites, while positive numbers represent underdogs. The same is true whether you are looking at a spread or a moneyline, but how these numbers are used is very different. You also need to know that prices on spreads/totals do not impact who/what is favored, it is used to determine how much the bet pays out. Read on for the complete explanation of each of these concepts.
If you have Texas early as a 5-point favorite, and I move the line to Texas –7 later in the week, then you can also place a bet on Wisconsin +7. If Texas happens to win by six points, both your bets cash in. Texas winning by either five or seven gives you a win and a push. Any other result creates a win and a loss, so you’re only risking the vigorish. In most cases, the favorite will be the team with a negative moneyline .