Moneyline wagers are arguably the most popular bets you can place in sports betting. But what exactly is a moneyline bet, and how does it work in practice?
Here we explain everything you need to know about this popular sports wager to help you make winning selections throughout the sports season at Stake Sportsbook.
What is a Moneyline Bet?
In a moneyline bet, you place a wager on one of three outcomes on a sporting event – a win, tie, or loss. You can decide which team to back and select which outcome you think is most likely. As a result, a moneyline wager is one of the simplest bets you can place when betting on sports.
How Does Moneyline Betting Work?
When considering moneyline odds, you need to be able to identify the favourite (the team most likely to win) and the underdog (the team most likely to lose). Of course, upsets are possible in all sports, but the favourite will have shorter odds in the betting line due to their anticipated victory. Here’s what an NFL moneyline might look like:
Cleveland Browns +150 vs Green Bay Packers –135
Here, the Packers are favourites to beat the Browns, shown by their negative odds. We know the Browns are the underdog team because of their positive odds.
Now, in the American odds format, the +150 indicates how much you stand to win from a 100.00 bet on the Browns (underdogs). For example, a $100 on the Cleveland Browns would win $150 (not including the original wager).
Whilst the –135 indicates how much you would need to bet on the Packers (favourites) to win 100.00. For example, a $135 bet would win $100 (not including the original bet).
Betting on the sports betting favourite means you need to bet more money than the potential profit you'll win - this is often known as layering money and is often a successful betting strategy used on popular sporting events.
There are two or three potential outcomes in moneyline betting:
Win: You bet on a specific team or player to defeat the other.
Loss: You bet on a specific team or player to lose the fixture.
Draw/Tie: You bet on the fixture to end as a tie. Not all sporting contests can finish in a tie, so this third option will not always be open to sports bettors.
Types of Moneyline Bets
There are a few different types of moneyline bets to be aware of:
Two-way Moneyline: A two-way moneyline allows you to bet on two outcomes – the win or loss. If the teams tie, you'll get your original wager back (also called a push).
Three-way Moneyline: A three-way moneyline offers three betting options – win, loss, or tie.
Parlay Moneyline: Where available, parlay moneylines offer 2+ fixtures and enable you to lengthen your odds.
Are Moneyline Bets Good Bets?
There's no doubt that moneyline bets can offer a decent potential payout, particularly if you can identify good value in the betting markets. But perhaps the best thing about a moneyline wager is its simplicity – you're simply betting on which team or player you think will win or lose, taking all of the complexity out of online sports betting.
Spread betting (also known as the point spread) differs slightly from moneyline betting. Simply, a point spread bet is a wager on a team after a handicap has been applied. If you back the favourite, they will have to win by a designated number of points for your bet to be successful. If you support the underdog, provided that they don’t lose by a specific number of points, you will still win your wager.
Pros & Cons of Moneyline Betting
Although moneyline wagers are exceedingly popular, there are pros and cons associated with this type of sports betting:
Pros of Moneyline Betting
Incredibly simple form of betting and perfect for beginners. You can place moneyline bets on even the most unique sports like Darts or Gaelic Hurling.
Easy to read and understand the betting odds.
You can build moneyline bets into a parlay to improve your odds.
Cons of Moneyline Betting
The lack of complexity means that there’s not a great deal of choice in the moneyline market.
The moneyline odds are often tight, offering less value than spread betting.
There are only two (sometimes three) options in a moneyline bet.
Live Betting with Moneylines
As well as pre-match parlays, you can place live moneyline wagers when the action is underway. This is perfect if you haven’t yet placed a bet during game time. Just be mindful that moneyline wagers are much more likely to change in live markets because the odds respond to the action taking place.
Learn more about the differences between live betting vs. pre-match betting and how to devise the best betting strategy to win at Stake.
Can you Parlay Moneyline Bets?
Yes, you can parlay moneyline bets. Building a parlay is a great way to improve your odds if you’re keen to back the heavy favourites in a moneyline. Rather than betting on each team or player individually, you can include multiple selections in the same slip to boost the potential return you receive.
Moneyline Betting Odds & Payouts
When considering your moneyline betting options, it’s important to realise that the odds can change, both pre-match and in live betting markets. As for payouts, you can decide whether to see the odds in the American, decimal or fractional format.
How to Deposit & Withdraw Funds to Bet on Sports
Now that you fully understand your moneyline betting options, you can deposit funds into your Stake account. You can follow these simple steps on Stake.com:
Step 1 - Retrieve your deposit address, located in Wallet > Deposit.
Step 2 - Choose the method that suits your needs. Stake.com supports multiple currencies, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (Doge), Litecoin (LTC), and others. You can find more information about our local currency options on our community forum, as well as our local currency payment guide.
Step 3 - Use your deposit address as the ‘send to’ location for your wallet or exchange.
Step 4 (Optional) - If you wish to make a deposit via fiat currency, you can buy crypto for Stake via Moonpay.
Stake.com offers live support to players via our customer support staff for help with issues regarding sports betting and depositing and withdrawing units.
Moonpay supports multiple payment options, including Visa, Mastercard, Apple Pay, Google Pay, and others, to buy cryptocurrency to bet on sports. For a full list of supported payment methods, please refer to the Moonpay documentation.
For withdrawals, refer to our helpful guide explaining how to access any Moneyline winnings instantly.
Moneyline Betting Tips & Strategies
So, how do you make the most of moneyline betting to walk away with a decent profit? Here are some moneyline betting tips to make the most of at Stake.com:
Always consider form and injuries before placing a moneyline bet, as these both influence a team’s chances of winning.
Don’t just pick the favourite and hope for the best – it's vital to research the circumstances around a match to get a good idea of how likely a team is to win.
We recommend developing a sports bet strategy that works best for you! Check out our guides to some of the most popular wagering systems and strategies including the Martingale system, the Labouchere system or the 1-3-2-6 betting system.
Final Things to Consider: Sports Betting Rules, Regulations & Security
We wish you luck as you place your moneyline wagers at Stake's online sportsbook. Be sure to read through our terms and conditions to fully understand how sports betting works and that you know what to expect when developing your bet slip.
