Basic Strategy for Betting Moneylines

Knowing when to use one and when to use the other is what defines the fine line between success and failure. We can now go to our odds converter and enter Armed with the knowledge of how to remove vig, it's now possible to prevent yourself from making the same mistakes that the majority of bettors make. Calculating implied probability is relatively straightforward, as long as you use the following formula. The most important thing to remember is this; only bet with reputable sites, like any of the ones we recommend. Money Lines - Sportsbook Moneyline Betting Online (All Sports)


Finding Value in Moneylines

If you chose to back them, you'd need them to win or lose by less than six points. In this example, the Celtics are theoretically just as likely to win by six points or more as the Grizzlies are to lose by less than six points. This is reflected in the odds, which are typically on both sides of the wager.

If a bookmaker offers moneyline betting on the same game, then their market might look similar to this one. The odds are lower because you only need the Celtics to win. Since it doesn't matter how many points they win by, the chances of this happening are obviously higher.

However, the Grizzlies would need to win the game outright for such a wager to be successful. The chances of this happening are pretty low. We've written a whole article on how to calculate moneyline payouts. Anyone interested in learning more about all the formulas and configurations involved should definitely check this article out. Otherwise, you could just follow this quick trick.

When betting on the favorite, simply divide the negative moneyline by to get a decimal. If you were planning to bet on the Celtics in the above example, this would give you 2. Now all you have to do is divide your stake by that number in order to see what your potential payouts would be. When you divide that number by 2. When betting on the underdog, the first step is the same.

Divide the positive moneyline by , which in the case of the Grizzlies in the above example would give you 2. Then, multiply your stake by that number to get your potential winnings. All moneylines have what is referred to as an implied probability. This is really just a fancy term pertaining to how often a wager needs to win in order to breakeven, but it's something you need to understand in order to make a profit from betting moneylines.

Calculating implied probability is relatively straightforward, as long as you use the following formula. Risk is the initial amount staked on a wager, while return is the initial amount staked plus the potential win.

Let's use this formula to calculate the implied probability of the Celtics winning their game against the Grizzlies. This gives us an implied probability of 0. Technically, probability should always be a number between 0 and 1. It's often expressed as a percentage though, which makes things easier for the purposes of betting.

What this means is that the odds suggest the Celtics have a If we believe the Celtics have an even greater chance of winning, then we should back them at odds of This is basically what finding value is all about. When we think that a wager is more likely to win than the odds suggest, we should place that wager. As long as we're estimating those chances accurately, we should have no problem making an overall profit. It's important to note that finding value isn't necessarily about betting on what we think will happen.

Backing them would be a wise decision if we believe their chances of winning are higher than Even though this means we actually think their chances of losing are higher than their chances of winning, we should still back them. We'd be placing a wager with positive expected value, which should be everyone's goal when betting on sports. Earlier, we explained how the implied probability of is Notice these two probabilities total It's called vig, and it's basically a commission that they charge customers for placing wagers.

By removing the vig, you can see what the fair odds on the game would be. Many assume that because there's a 30 cents gap between the two lines, we just deduct 15 cents from the favorite and add 15 cents to the underdog.

To remove vig correctly, we need to divide the total of the two implied probabilities by each individual probability. So, in this case, we need to do the following calculations. The two results above are the no-vig probabilities. If you're sharp, you'll notice that adding We can now go to our odds converter and enter This will give us moneyline odds of If we enter We explain removing vig, and how this process helps us, in more detail in our article on handicapping the market.

These type of sports bets simply involve winners and losers and do not require winning or losing by specific margins as in point spread betting. Since there is no point spread, Oddsmakers set the money line so that more money must be risked on the favorite the expected winner and less money on the underdog in an effort to balance the willingness of bettors to back the respective sides of a game. When betting on Football or Basketball, you are given the option to bet a point spread or a money line bet.

More Money Lines Information. If you do as much football betting as we do, then you know how valuable that extra half point or even point can be against the spread when it comes to picking winners. Many different bookmakers release different numbers and NFL Football Odds always tend to differ at each sportsbook.

Their are benefits that a NFL bettors can find by initiating their football bets in-play, as opposed to taking the Opening odds on their preferred competitor. Knowing when to use one and when to use the other is what defines the fine line between success and failure. Remember your goal of being a consistently profitable long-term sports bettor means using every weapon in your arsenal, and being one step ahead of everyone else.

With practice and structured commitment you will be more accustomed to fine tune a sports betting strategy which is best suited to your style of personality. Finding online sportsbook that will satisfy all your requirements can be quite difficult since there is such a broad selection. Therefore we have chosen only the best online bookmakers, reviewed and rated them according to our strict criteria. In our bookmaker reviews you will find all important information about bookie from sports coverage, deposit and withdrawal methods and fees, minimum deposit, accepted currencies, minimum and maximum bet, type of customer support to bookmaker bonuses and quality of odds margin.

How to get sportsbook help. The Sports Betting Rules.