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A moneyline bet represents the quintessential form of wagering where the bettor simply selects the winner of the event; there are no spreads or point margins involved. As the legendary Al Davis famously put it, 'Just win, baby!'
Thisdeereplanet.com This article will delve deeper into the nuances of moneyline betting, including how to place these bets, interpret the odds, and anticipate potential payouts.sports betting sites in Ontario .
What Exactly is a Moneyline Bet and How Does It Apply to Ontario Sports Betting?
The moneyline indicates the sportsbook's take on a bet where the participant is betting on the actual outcome of the game without considering the margin of victory. The focus is solely on winning. Moneyline bets can stand alone on your betting slip or be merged with other bets in a parlay.
The Favoured Team
In the world of betting, the 'favorite' is the team that bookmakers believe has the highest chance of winning the game. The odds for the favorite are presented with a minus sign, such as -110. This indicates that if a bettor wants to place a wager on the favorite’s victory, they must stake more money than what they expect to receive back when the bet is successful.
An example of a moneyline for a football game could be represented like this for the CFL:
- Toronto Argonauts -110
- Ottawa RoughRidgers +285
In this scenario, Toronto (the favored team) has odds of -110. Further elaboration on calculating winnings will follow, but the key takeaway here is that your betting favorite will always be reflected with a negative figure.
The Underdog Team
The betting 'underdog' refers to the team that is not favored to win . Underdogs’ odds are always presented as positive numbers. In our previous CFL example, Ottawa is listed at +285 on the moneyline, indicating that they are the underdog and winning their bet would yield a more lucrative payout.
Even/Close Teams
Sometimes, the odds on a match are set to even at +100, which means that to win $100, a bettor needs to wager $100. The calculation for even payouts is straightforward, with the winnings equating precisely to the original stake.
Outcomes On The Moneyline Wager
When engaging in moneyline betting, there are three potential outcomes for the wager: it may win, lose, or result in a draw. While ties are not allowed in some leagues, they are possible, especially in sports like soccer.
Win
As mentioned earlier, placing a moneyline bet essentially means betting on a team to win the competition; if they do, the bettor receives payment. It’s a straightforward process. When betting on the favorite, the payout amounts to a percentage of the staked amount. Winnings usually come in two forms: 'profit' and 'payout.' Profit is the amount earned from the bet; for instance, if a bettor wagers $100 on a favorite (at odds of -110), their profit would be $90.91.
The 'payout' encompasses both the initial stake, or 'stake,' plus the profit. If a bettor places a $100 wager on a favored team (-110) and the bet succeeds, their total payout will be $190.91, which includes the original stake of $100 and the profit of $90.91.
Loss
When losing a moneyline bet, it simply means that the selected team did not win the match. This is part and parcel of betting. The downside is the bettor forfeits their entire stake; so if $100 was bet, the sportsbook retains that amount, regardless of the odds involved .
Wagering on the underdog with +285 odds in the example above does not subject the bettor to any additional losses beyond the original stake. The only exception to this rule pertains to point betting in basketball.
Draw
In soccer and various other sports, matches can end in a tie. In such situations, a moneyline wager on any team results in a loss , as the possibility of a draw exists for these games.
Understanding Payouts Based on Moneyline Odds
There are many platforms that provide calculators for betting odds, including our own, in addition to those found on betting websites.sports gambling apps in Ontario When a bettor enters their wager and stake on the betting slip, the application will promptly display the anticipated payout amount.
It's crucial for individuals engaging in sports betting to have a solid grasp of how betting odds function and the method of calculating payouts. Simply navigating the betting slip can be inefficient.
Minus Odds
Odds presented with a minus sign (-110) suggest this team is favoured to win, or it's a Pick-em scenario; in either case, the bettor must wager more than their potential return.
In American betting terms, this is described as 'bet this amount to earn $100.' For -110 odds, the bettor must place a stake of $110 to reap a profit of $100. Winning a bet on a favourite at these odds results in a $10 fee (the 'juice') when claiming the $100, since the bettor opted for the favourite.
However, betting on favourites doesn't automatically lead to low returns. Combining several favourites into a parlay can create positive odds, reflecting the higher risk for the bettor.
Plus Odds
Positive odds represent a prime chance for bettors to earn a substantial payout if they successfully identify the right underdog. Underdogs are always marked with a plus sign, like +285 in our previous example. Thus, if one bets on Ottawa (+285) and they win, the bettor would make a profit of $285. In terms of underdog bets, the bettor effectively overcomes the house, making the 'juice' irrelevant.
Even Odds
Even odds are particularly appealing to bettors since they only need to win slightly over half (51%) of their bets to turn a profit. For instance, winning a $100 bet at even odds would yield a profit of $100, resulting in a total payout, including the initial stake, of $200.
NHL Moneyline
NHL betting sites in Ontario offer hockey moneylines, which highlight where bettors should direct their focus. Betting on the puck line (spread) can be risky, especially during overtime, which is common in the NHL, or due to a late empty-net goal.
For instance, consider a game where the Toronto Maple Leafs play against the Pittsburgh Penguins; here, the Penguins, as underdogs, are at +340, while the Leafs are favoured at -175. A winning $100 bet on the Penguins yields $340, while the same amount bet on the Leafs would provide a profit of $57.14.
NFL Moneyline
Professional football presents ample betting opportunities, but most action tends to center on moneylines.
Here’s a scenario: Kansas City Chiefs face off against Buffalo Bills (-10.5), where the Bills are the clear favourites by a spread of 6 points.
The Chiefs are seen as underdogs, with odds of +389, while the Bills have -538. In this matchup, a $100 wager on the Bills would yield just $18.59 in profit; conversely, a successful wager on the Chiefs would profit $389 from the same stake.
NBA Moneyline
In the NBA, moneylines function similarly to those in the NFL, although the odds tend to improve as the spread increases. For example, a 15-point spread in the NFL results in a moneyline for the underdog being lower by approximately $723 compared to the NBA, while a 5-point spread will yield higher moneyline odds in the NFL.
NBA moneyline payouts follow standard patterns. For example, if the Toronto Raptors are favoured against the Golden State Warriors, with the Warriors at +471 and the Raptors at -685, a successful $100 bet on the Warriors would produce a profit of $471, whereas a winning wager on the Raptors would result in only a $14.60 profit.
MLB Moneyline
In baseball, like soccer and hockey, moneylines are the primary focus since there isn’t a point spread. The run line in baseball is constant (always +/- 1.5), which means that most betting action revolves around the moneyline odds.
Due to the volume of betting in baseball, even minor differences in odds can lead to significant impacts over the span of a 162-game season. Securing better moneyline odds in baseball is akin to snagging a more advantageous bet price.
Moneyline Parlay Bets in Ontario
Parlays are essentially a collection of bets grouped together. By combining multiple wagers into a parlay, the potential for higher payouts significantly increases, but so does the risk. If just one outcome in the parlay fails, the entire bet is lost.
Nevertheless, if a bettor successfully completes a parlay, the possible payouts can be substantial. Including an underdog on the moneyline in a parlay can greatly enhance the payout odds. Here's an example:
In a 2-leg parlay consisting of: Game 1 at -135 (moneyline favourite), Game 2 at -110 (moneyline favourite), the total odds would be: +232.
In this 2-leg parlay, both favourite selections result in combined odds of +232, yielding a payout of $232 for a $100 bet. However, if the bettor incorporates one underdog at +110, the odds soar to +598. This 3-leg parlay could generate a profit of $598 on a $100 stake merely by adding one underdog with modest odds.
What’s the Relation Between Moneyline and Spread Betting?
With a traditional bet, the player must have the chosen team 'cover' the point spread to secure a win. For example, if betting on a favourite with a 6-point spread, that team must win by 6 points or more to validate the bet. However, with moneylines, the bettor simply needs the team to secure a victory.
Moneylines and their associated odds can reveal how confident a book is in its point spread. In sports like hockey, baseball, and soccer, where point spreads are typically minimal, the moneyline odds serve as a better reflection of the bookmaker’s confidence regarding the potential game outcome.
Moneyline Betting in Ontario FAQ
Moneyline betting is extremely straightforward. Bettors choose the winner of a match or contest, and if that selection wins, the bet is successful. The point spreads and the total points scored are irrelevant; for instance, even if the spread is set at 13 points, the moneyline merely needs to satisfy being one point superior.
The primary advantage of moneyline wagers is their simplicity. Players don’t have to fret over point spreads or covers; instead, they can concentrate on identifying the winning side. Another key benefit is the payout potential for successfully betting on an underdog.
A +200 moneyline conveys two main messages: firstly, that the team linked to this odds line is the underdog and, as such, isn't favoured to win the match. Secondly, the +200 odds imply that a player wagering $100 on this underdog would secure a profit of $200 upon a successful outcome.
Moneyline payouts consist of the original wager combined with the profit from the bet. Referring back to the previous example, a $100 bet on a +100 line would result in a total payout of $300, which includes the initial $100 stake along with a profit of $200.
As previously mentioned, the moneyline is strictly a wager on which team will win the match, while the spread signifies the number of points that must be surpassed for the spread bet to succeed. In the realm of moneylines, point spreads are disregarded entirely.
Absolutely! Moneylines are an excellent complement to parlays since even modest moneyline odds can significantly augment the overall odds of the parlay. A player may incorporate various moneyline bets into a parlay to achieve high-paying odds, especially from games that are relatively easy to predict.
Author
Ryan Buschmeyer is a professional software developer, making him particularly suited to evaluate the best betting applications based on their features and distinguishing what differentiates each sportsbook in Ontario.
