Moneyline bets are one of the simplest sports bets you can place. That’s probably why they’re the most popular bet with bettors across the US in sports like baseball and basketball. Where can you place them and grab yourself a good moneyline betting bonus?
Top NY Bonuses, Special Promotions & OffersOne way bettors decide which sportsbook is for them is by checking out the best sportsbook bonuses. Here are some you can use for moneyline betting.
Pros and Cons of Moneyline Betting in New York
All bet types have pros and cons, and moneyline bets are no different. Here are some of the pros and cons you will find when it comes to moneyline betting.
|Ideal bet for beginners||Tend to offer lower odds on favorites|
|Includes all forms of overtime|
|Requires less research|
Moneyline Betting in New York Explained
Below you’ll find the answers to some of the most common questions people have about moneyline bets.
What is a moneyline bet?
A moneyline bet is one of the simplest bets you can place on any sport: it is essentially predicting the winner of an individual game or match. Not to be confused with futures betting, which predicts the outright winner of a competition.
How does moneyline betting work?
In moneyline betting, an oddsmaker assesses the individuals or teams involved and assigns odds to them. The favorite will be assigned moneyline odds that are lower and return less; the underdog will be given higher odds that could offer a larger return on your stake. For example, you could back the New York Yankees on a moneyline bet at -110 (favorites) to beat the Boston Red Sox at +110 (underdogs). Since the Yankees are a slight favorite, you would have to bet $110 to win $100. At +110, a $100 bet on the Red Sox would pay $110 if Boston pulls off the upset.
How do I place a moneyline bet?
Placing a moneyline bet couldn’t be simpler. All you need to do is log in to your existing sportsbook account or sign up to one of our recommended sites above. Once logged in, deposit funds into your account–unless you have bonus funds you could use. Find the event you want to place a bet on and select the outcome of the game that you think will happen. Your selection will be added to your bet slip, and you can then assign your stake and place your bet. All that’s left is to see if your bet comes in and returns a profit.
What should I know before placing a moneyline bet?
One tip for placing moneyline bets in MLB or any other sports is to track line movement. This means keeping an eye on how odds change. If you see a team such as the New York Knicks at -130 and the odds continue to drop to -140 and then -150, it suggests more and more people are backing this option. If that reverses and the moneyline odds reach -120 or -110, it suggests people are backing the underdog instead.
Oddsmakers’ goal is to get an even amount of betting on each side so they aren’t on the hook for a big loss, so tracking odds can tell you a lot about how the public is betting and how oddsmakers are reacting to that information.
Should you avoid big favorites?
To make serious money on a team that is -300, you would have to put down 3x as much as what you stand to win for a decent payout. Risking $300 to win $100 can seem like a lot, especially since the favorite doesn’t always win. Be sure to check things like form (how a team is playing in recent games) and roster changes to assess an event before placing a bet on a heavy favorite.