Moneyline betting is yet another classic bet type that’s part of a small betting group. With this bet, players bet on the final outcome of a match without thinking about the point spread. Remember that the moneyline bet is solely dependent on who wins.
What is Moneyline Betting?
Moneyline bets in sports betting are used for low scoring sports. This is what makes this bet type perfect for baseball and hockey; however, it can also be used in racing, boxing, tennis, etc. Nevertheless, it can also be used in sports that do have bigger scores like football and basketball, even though a point spread bet would be much better for these sports.
Keep in mind that you only bet on which side is going to win the match or the game. This means that the odds difference between the two outcomes only depends on who is the favorite. Remember, with the moneyline bet, it’s possible to win much more if you bet on the underdog.
Advantages and Disadvantages of Moneyline Betting
The advantages of this type of match betting is that it’s very simple and straightforward. The only thing you have to worry about is picking the side that you think is going to win. This is either the favorite or the underdog, but the moneyline bet means one of them has to win by the end of the match/game.
However, there are disadvantages to moneyline betting as well. You are very limited with these bets because you only have two choices. Additionally, if you want to bet on the favorite, the payouts are not going to be very big.
Types of Bets and Markets
As we mentioned above the best moneyline bets can be found on sports like baseball and hockey. Traditional 1X2 bets do have bigger odds; however, if you pick 1 or 2 there and regular time ends with a draw, you lose your stake. With moneyline betting its not like that, since there is no draw option. Overtime is counted which means someone has to win at the end.
Additionally, these bet can be used for basketball in the case of NBA, since they go to overtime as well. Football can be an option too, but it might not be worth it since the draw will cause you to lose your stake.
Placing a Moneyline Bet
Let’s imagine a scenario where two MLB teams Chicago Cubs and the Pittsburgh Pirates play against each other. You think that the Cubs are going to win to you put a moneyline bet on their victory.
This means that for you to win the bet, the Cubs will have to win the game. It doesn’t matter if it happens in regular time or overtime, but they have to win.
Check the Moneyline markets and much more on our Bitcoin Sportsbook .