Understanding Basic Sports Bets: Moneylines, Spreads, Totals
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If you’re interested in gaining more knowledge about online sports betting in Massachusetts, this guide is tailored for you. Within these pages, you will find detailed information about the three most commonly used bet types for any sporting event.
- Moneylines
- Point spreads
- Over/unders
What is a moneyline bet?
If you’re a beginner in Massachusetts sports betting, the moneyline bet is likely the most common one.
- A moneyline bet involves selecting the game’s victor.
Regardless of the total points scored by each team, your bet is successful as long as the team you wagered on emerges as the winner.
Every team will be assigned a unique odds number, typically consisting of one positive and one negative value. A positive number indicates that the team is considered the underdog, while the specific value represents the potential winnings on a $100 bet.
To illustrate, suppose the Boston Celtics have odds of +150. Placing a $100 bet would result in a $150 win, leading to a total payout of $250 (including both the initial bet and the winnings).
The team being the favorite is indicated by a negative number, representing the amount you need to bet to win $100. For instance, if the Celtics have a -120 odds, betting $120 would potentially yield a profit of $100 and a total payout of $220.
Moneyline betting is commonly preferred in baseball, soccer, and hockey due to their typically low scoring nature. Consequently, selecting the ultimate winner usually presents bettors with greater potential value compared to the over/under or spread bets (also known as puck line or run line, which we will discuss further).
Moneyline betting example
In the 2019 Super Bowl, the moneyline odds for the New England Patriots stood at -133, while the Los Angeles Rams were listed at +125. To potentially earn a $100 payout by betting on the New England Patriots, you would have needed to wager $133.
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What is a point spread bet?
The point spread represents a wager placed on the difference in scores.
- In order to secure victory, the favored team must achieve a specific number of points or goals.
- In order to succeed, the underdog must either narrowly lose or emerge victorious in the game.
Half points in spreads
Spreads are commonly represented with a half-point increment, known as the “hook,” to prevent a push where both sides would receive a refund. For instance, if the Patriots are playing against the Buffalo Bills and are favored by three points.
In the event of a 27-24 victory for the Patriots, the bet would result in a push. This would mean that you would receive a refund of your initial bet amount. While the sportsbook would not suffer any losses from the bet, it would also not generate any profits.
If you bet on the Patriots as 3.5-point favorites and they win 27-24, you would lose the wager. In contrast, anyone who wagered on the Bills would emerge as winners. The inclusion of the hook ensures that there is a clear winner, while also enabling the sportsbook to potentially utilize the losing bets to compensate the winners and generate a profit.
Run line and puck line
The reason for the differing approaches of the NHL and MLB lies in the fact that hockey and baseball games typically yield significantly lower scores compared to other sports.
In NHL betting, the puck line acts as the equivalent of the spread. The puck line is set at -1.5 goals for the favored team and +1.5 goals for the underdog. For bets on the favored team to be successful, they must win by a margin of at least two goals. On the other hand, bets on the underdog can be won if they either win by any score or lose by just one goal. This concept is similar to the run line in baseball betting, where the standard is also set at 1.5 runs.
Should you bet the favorite or the underdog against the spread?
There is no straightforward response to this query. Supporting the underdog may not guarantee a higher payout, even if your prediction is correct. In the case of NFL and NBA spreads, the standard payout for both teams is -110. On any given day with 12 games, you may come across one to six games where the underdog has slightly better odds, though the disparity is often insignificant, such as -105 versus -115.
Nevertheless, supporting an underdog on the spread offers a higher probability of winning compared to backing them on the moneyline. Even if the underdog ultimately loses, there is still a possibility for your bet to be successful based on the point margin.
Buying points
Certain sportsbooks offer the option to purchase points in order to enhance the spread for your desired bet. This entails either paying a higher amount for the bet or reducing your potential payout. There are bettors who consistently opt to buy the hook, whereas others disregard it entirely. It is important to note that buying the hook may result in higher expenses compared to the potential long-term costs associated with betting on a standard line with the hook.
Spread betting examples
In the 2019 Super Bowl odds scenario, the Patriots were favored by 2.5 points against the Rams. To secure a successful spread bet, the Patriots needed to win by a margin of three or more points. Since the Patriots emerged victorious with a winning margin of 10 points, you would have claimed the wager if you had selected New England.
What are totals bets?
If you place a bet on the total, you are wagering on whether the combined score of the game will exceed or fall below a predetermined line set by the sportsbook.
Proposition bets are a form of totals betting that encompass various scenarios. For instance, you can place bets on the over/under of a pitcher’s total strikeouts in a baseball game or a running back’s rushing yards in a football game.
Over/under betting example
Suppose the Patriots are scheduled to face the New York Jets in the upcoming season, and the total score predicted for the game is 44. If New England emerges victorious with a score of 23-20, choosing the under bet would result in a win for you, as the combined score of the game is 43.
Do all sports offer moneylines, point spreads and over/under bets?
Certainly, the majority of sports will offer moneylines, spreads, and totals, albeit with certain variations such as the run line and puck line mentioned earlier. In soccer, moneylines typically follow a “three-way moneyline” format due to the prevalence of ties in the sport.
Moneyline pros and cons
- It’s simple: You select the team that will emerge victorious.
- Bets (usually) won’t push.
- Underdogs have higher chances of being more profitable.
- Favorites have lower odds of being profitable.
Point spread pros and cons
- It is not necessary for underdogs to emerge victorious in the game.
- Purchasing points could potentially enhance your odds.
- More intricate compared to the moneyline.
Over/under pros and cons
- Easy to understand.
- If you’re not inclined to wager on either team’s victory, an excellent alternative is to refrain from placing a bet.
- You have the option to buy or sell points.
- The number of variables involved can vary depending on the specific sport.
Which sports bet has the best odds?
Typically, underdog moneyline bets offer bettors the highest potential for profitability in sports betting, although there are some exceptions. In hockey and baseball, the spread of 1.5 remains relatively stable. However, the odds linked to the spread differ, making a -1.5 bet on a favored team potentially more lucrative than a moneyline bet.
Is it easier to win on moneyline, spreads or totals?
If bets were easy to win, it wouldn’t be considered gambling.
Consistent success in each of these bets requires thorough research and unwavering commitment. Moneylines serve as an ideal starting point for novice bettors, although they are not necessarily easier. Betting on heavily favored teams may not yield substantial returns. To gain further understanding, refer to our comprehensive guide on profitable sports betting.
Which one is the best bet for beginners?
New bettors often find moneyline bets to be the most suitable option. Simply selecting the team you anticipate to win allows for an easy understanding of odds and the fundamentals of sports betting.
However, it should be noted that all bets come with their own set of challenges. By expanding your understanding of the fundamentals of sports betting, you can potentially increase your profitability when it comes to NBA and NFL point spreads and totals.