Money line odds are some of the simplest in the business. Everyone has used a money line while gambling. Also known as American odds, they are generally also used for predicting who will win a game. To understand these bets, all you need to do is read this guide. We’ve broken down everything you need to know, plus how to calculate the payout. After all, that’s why you’re gambling in the first place.
Of course, knowing the odds still doesn’t prepare you for making that bet. That’s why we’ve created online betting guides specifically to help Aussies place wagers. If you’d prefer to skip ahead to betting and the best odds, we’ve listed our top picks below. Now, let’s get started with how to read money line odds.
Top Money Line Odds Websites
How to Read Moneyline Odds
As one of the simplest forms of odds, money lines can easily be read by bettors when they take straight odds. Moneylines are typically used for a two-way outcome, sometimes three. To read these odds, AU punters can simply check which team has a negative number and a positive number. For example, if Team C has odds of -120 and Team D has odds of +150. Take a look:
- Team C is ‘chalked’ at -120 so you’ll need to wager $120 to win back $100
- Team D is ‘chalked’ at +150 so you’ll make a profit of $50 if you wager $100
Typically, these odds are used for American sports like baseball, hockey, football and basketball. Occasionally, an Aussie sportsbook will have these odds, but they tend to prefer less complicated odds. Usually, baseball and hockey are less likely to have higher scores. That’s why they’ll use money lines as opposed to point spreads.
2-Way Moneyline Betting Explained
More often than not, money lines will be used for bets on two outcomes. This is known as a 2-way moneyline and counts as a straight bet on a single winner. Sometimes, there could be a 3-way money line where a draw is also featured in the odds. This may seem like a good way to cover the spread, but you’ll likely lose money more often. Margins of victory aren’t included in the odds, so the total return is usually low.
Of course, a winning bet for American sporting events can be tricky to achieve. On the other hand, it’s fun to try if you can bet enough on the favourites to win. After all, sports betting is a game of chance even with the most thorough research. Read our other great betting guides to learn more about wagering.