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Whether you are already familiar with sports betting or just starting out, it is essential to grasp the fundamentals of sports betting odds, as well as the complexities of moneyline and point spread betting. Given that Texas is getting ready to introduce regulated sports gambling, it becomes even more important to acquaint yourself with these concepts.
You have the opportunity to place bets on one team against another using these two popular bet types before and during games.
What is a moneyline bet?
The moneyline bet is the simplest type of wager. You may have even placed moneyline bets unknowingly. Essentially, a moneyline bet requires you to choose the team you think will win a particular matchup.
Nevertheless, it is important to note that these bets do not typically rely on equal probabilities. It is well-known that teams exhibit diverse levels of performance, which is precisely why odds are taken into consideration when placing moneyline bets.
Betting on an underdog has the potential for a higher monetary gain than betting on the favorite. Moneyline odds typically use a plus sign to represent the underdog and a minus sign to represent the favorite.
The moneyline in popular sports like football, basketball, and baseball functions in a comparable manner to the point spread, as correctly choosing the winning team ensures success in your moneyline wager.
In this NFL moneyline example, the Dallas Cowboys are considered underdogs with a moneyline of +275, while the Cincinnati Bengals are regarded as favorites with a moneyline of -330. This means that if someone wants to earn a $100 profit, they would need to bet $330 on the Bengals.
Placing a $100 bet on the Cowboys would yield a $275 profit.
What is a point spread bet?
The point spread is a popular choice for sports betting because it evens the playing field. Unlike the moneyline, which adjusts odds for teams, the point spread is determined by oddsmakers who assign a specific number of points to the weaker team.
For instance, consider a scenario where the experts predict that one team is better by five points compared to the other. In such a situation, the team that is favored must win by a margin exceeding five points to meet the spread requirement. On the other hand, the underdog would meet the spread requirement by either losing by fewer than five points or by winning the game outright.
When point spreads are being discussed, a frequently asked question pertains to half-points. Grasping this concept is quite simple. If a team is favored by, let’s say, 4.5 points, it guarantees that there will be no chance of a tie (or push).
Sportsbooks generally dislike half-point spreads because they guarantee a definite winner, unlike when bets hit the precise number defined by the sportsbook, leading to a refund for bettors. The reason behind this is that actual sports do not operate with half-points.
The Denver Broncos are the favored team with a 10-point advantage in the NFL point spread against the Houston Texans. To cover the spread, the Broncos need to win by more than 10 points. On the other hand, for the Texans to cover the spread, they either need to lose by less than 10 points or win the game.
Are moneylines and spreads used for all sports?
Moneylines can be used in nearly any sport as there will always be a victor and a loser. However, point spreads can differ.
Football and basketball betting benefit greatly from point spreads, as they add thrill to the games by adjusting the spread significantly due to the typically high number of points scored. However, hockey and baseball take a different approach. In these sports, the equivalent of a point spread is known as a run line in baseball and a puck line in hockey.
In both scenarios, the team expected to win always starts with a 1.5 run or goal advantage, while the less favored team is given a 1.5 goal or run handicap. However, considering the fixed spread and different team capabilities, sportsbooks usually return to offering odds comparable to the moneyline.
Pros and cons for moneylines vs. spreads
There are advantages and disadvantages to both the moneyline and point spread. Choosing the moneyline gives you the opportunity to win a significant payout if you make a correct bet on the underdog and they pull off an unforeseen victory.
However, it is extremely difficult to consistently win such bets over a long period of time. This is because those teams are often seen as major underdogs for a good reason. On the other hand, when betting on the favored team, the likelihood of winning is significantly higher, although the payouts are usually small.
In contrast, finding favorable odds when placing bets on the point spread is rare. Nevertheless, these types of wagers present a greater likelihood of achieving consistent victories. Sportsbooks typically strive to balance the odds by adjusting the spread, aiming to attract equal bets on both sides of a competition.
Which bet type has the best odds?
Point spread bets are highly advantageous in terms of betting odds, making them a prime option for achieving long-term success. Generally, these bets come with a standard odds of -110.
While betting on the moneyline and hitting on a significant underdog may lead to a substantial return, the spread betting method is a more reliable approach for consistent profit-making.
Is it easier to win on moneylines or spreads?
No matter the type of bet you choose, winning money on sports is undeniably difficult. Beginners may find it easiest to understand and select the game’s winner using a moneyline bet.
It is crucial to comprehend that placing bets on moneyline favorites will not generate significant profits, and you are more prone to losing a majority of the bets you make on moneyline underdogs.
Which are better for beginners—moneylines or spreads?
The best way to begin is by trying out moneyline betting, which offers a simple concept. By starting with this approach, you can become acquainted with the potential risks involved in choosing underdogs and the moderate profits gained from successfully betting on favorites.
Once you understand the dynamics and tendencies of moneyline odds, you can opt for point spreads as a more strategic approach. Bookmakers strive to set spreads that offer a 50% chance of winning.