Whether you want to get into sports betting or learn how to be a bookie, its important for you to learn about the different wagers available in a sportsbook. These wager types are usually more relevant with specific sports, while some wagers are a bit more challenging with another. Understanding the basics can help you win more, and also help you understand the more complicated wagers you could be making. Today, we will be talking about a Moneyline wager, or a Win Bet.
What is a Moneyline Wager?
The moneyline wager is the simplest wager you can ever place in any bookie software. Its called Win Bet in some regions, but they mean the same as a moneyline bet. A moneyline bet is the most basic, and probably the traditional way that bets are made. In a moneyline wager, you simply pick who will win a game.
For example, if you see odds on an NBA game that is showing the Clippers at +260 and the Lakers at -300, then you can see that the teams are not evenly matched. Here, the Clippers are the underdog. A $100 bet on the Clippers can give you a $360 win if they win. However, if you place a $100 wager on the Lakers, you only get to pocket $133 if they win.
Since the moneyline bet is the most common wager in sports betting, then expect to see this in every sportsbook, in practically all sports events. They may be displayed differently, but they are essentially the same. Depending on your sportsbook software, you can adjust how you want the odds displayed.
The normal moneyline odds show us the basic one with the – and + prefix to denote the favorite and the underdog. You can also see them in decimal format, which is usually like, 1.65 and 2.45, not deviating much from the number 2. Generally, if the number is higher than 2, then it’s the underdog. If the number is less than 2, then they are the favorite. Lastly, you also have the fractional odds, where you can see 13/20 and 29/30, for example. You can convert this by solving the fraction and adding 1 to get the decimal odds. Again, use your sportsbook software to convert things if you are comfortable with a specific way odds are displayed.