Understanding Money Lines at sportsbook betting lines|en
When it comes to sportsbook betting lines, no bettors can ignore Money Lines. Understanding Money Lines well enables gamblers to win their bets.Read more at: Asia gambling market
For beginners coming to sportsbook betting lines, money lines seem rather imposing, but once the essentials behind money lines are known, they are just as simple, if not easier, to use as the point spread. Whereas the point spread is concerned with who is the winner and by how much, the money line is only concerned with who is the winner.
The best way to demonstrate the money line is to give an example of it in action, so we will make up a hypothetical baseball game of the Cubs and the Dodgers. When looking at the odds for the game, the gambler will see something like this:
Chicago Cubs +120
Los Angeles Dodgers -130
In this example, the Dodgers are the favorite, as shown by the - (minus) written before the 130, whereas the Cubs are the underdogs, as written by the + (plus) before the 120.
What these numbers mean is that those who wish to bet on the favorite, the Dodgers, must risk $130 to gain $100, whereas those who want to bet on the underdog, the Cubs, risks $100 to gain $120.
It is important to keep in mind that although money lines are shown in units of $100, you don’t need to bet that much money. The money line will work just as easily with a $5 or $10 bet as it does with a $100 bet.
When the Money Line is Used at sportsbook betting lines
The money line sportsbook lines is used for many sports in which the point spread is irrelevant, like boxing, tennis, and auto racing, baseball, hockey, and soccer. Whereas there are margins of victory in baseball, hockey, and soccer, they are so small it would be impossible to make a point spread for each game.
The difference between money line odds on the favorite and the underdog will generally increase as the likelihood of the favorite winning increases. For instance, if the Yankees played the Devil Rays, we could probably see odds like this:
Tampa Bay Devil Rays +190
New York Yankees -220
In this instance, a bettor would be asked to risk $220 to get $100 by wagering on the Yankees, whereas the Tampa Bay bettors would risk $100 to win $190.
The difference between the two continues to climb as the disparity between the favorite and the underdog climbs. In a boxing match it could not be rare to see odds like:
Joe Louis -700
Ray Leonard +550
In this example, those who bet on Joe Louis are required to risk $700 to win $100, whereas Ray Leonard backers risk $100 to earn $550.
The reason for the shift in the difference between the odds is that bookmakers only earn money when the underdog is the winner. In point spread betting at sportsbook betting lines, the bookie expects to have an equal amount of money bet on every team, which will ensure a profit. In money line betting, the bookie finds out that more people are betting on the favorite, and can only expect to have enough bet on the underdog to make up for their possible losses on the favorite.
Using the Louis - Leonard fight as an instance, the bookmaker is aware of that more money is going to be bet on Louis for the reason that his chances to win are much higher than Leonard's. If bettors all wager $14,000 on Louis, the bookmaker expects to get $2,000 in wagers on Leonard. Whereas the amount of money bet on the two fighters is much different, the bookmaker gets their bases covered.
If Louis wins as they expect, the bookmaker takes the $2,000 from the losing Leonard gamblers and pay off the winners. But if Leonard pulls off the upset and wins, the bookmaker takes the $14,000 from the losing Louis gamblers and pays off $11,000 to the Leonard gamblers and keeps $3,000 for their attempt.
Other Uses of the Money Line
Money line betting at sportsbook online is normally offered on all sporting events, even those which use the point spread, like football and basketball. While you can still wager with the point spread, using the money line just gives the bettor another choice when determining whether or not to place a bet.