Should You Bet Money Line Or Spreads
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On September 5, 2019, Aaron Rodgers and the Green Bay Packers will take the field against Mitch Trubisky and the Chicago Bears to kick off the 2019-20 NFL season. By the time they do, sports bettors will have put down millions of dollars worth of bets on the game.
Want to get in on the action? If so, you’ll need to decide which of the two teams you want to bet on. You’ll also need to decide if you want to place a moneyline bet or a point spread bet.
Before deciding on moneyline vs spread betting, you should make sure that you know the difference between the two. Here is what you need to know about moneyline bets and point spread bets.
Moneyline betting is very easy to understand. When you place a money line bet, the only thing you’ll need to do is pick a team that you think is going to win a game outright.
If you were to place a money line bet on the aforementioned Packers/Bears game, you would need to place it on either Green Bay or Chicago. You would also need to check out the odds for a moneyline bet before making it.
As of right now, the moneyline odds for the Packers/Bears game are:
This means that, if you were to bet $100 on the Packers on the moneyline, you would win $150 if Green Bay wins the game. However, if you were to bet the Bears on the moneyline, you would need to put down $180 to win $100 back if Chicago wins the game.
Spread betting is slightly more complicated than moneyline betting. But it’s not that hard to figure out.
When you place a spread bet, you’ll need the team that you bet on to “cover the spread” that was created for the game in order for you to win.
Let’s use the Packers/Bears game as an example again. As of right now, the point spread for the game is:
If you place a spread bet on the Packers, you would need them to either win the game outright or cover the spread by losing by less than 3.5 points. If, on the other hand, you place a spread bet on the Bears, you would need them to win by more than 3.5 points to cover the spread.
In both instances, a $110 bet would net you $100 if your team covers the spread, regardless of which team you choose to take.
There are pros and cons that come along with both moneyline and spread betting.
Those who prefer putting down moneyline bets love the fact that they don’t have to worry about keeping an eye on the point spread when they’re watching a game. They only have to worry about whether or not their team wins.
But as you can see, one of the downsides of moneyline betting is that those who bet on a favorite often have to lay down more money than they would have to when using spread betting. And those who bet on an underdog don’t have the benefit of “getting” points during a game.
Those who prefer putting down spread bets, meanwhile, love the fact that they get more balanced betting odds that don’t force them to lay down more money than they want to. They also “get” points on underdogs and can win a bet even if the team they pick loses.
But one of the big drawbacks of spread betting is that a favorite can win a game outright but not cover the spread in the process. This can leave some bettors kicking themselves when they realize they would have won if they had just made a moneyline bet.
It’s up to you to decide which type of bet you like best. Many bettors switch up their approach based on the odds offered on specific moneyline vs spread bets.
If you don’t have a ton of betting experience, you might want to experiment with both moneyline and spread bets. You’ll be able to see which one you prefer.
Your opinion on moneyline vs spread betting may change over time, too. You’re free to switch things up and use whichever type of bet you want depending on what the betting odds are for different games.
Regardless of which type of bet you choose, we can help you make smarter bets when you sign up to receive our picks. Get in touch with us today to learn about the benefits of signing up for our NFL picks package.
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Written by Alex Murphy on June 14, 2015
If you are new to sports betting, there are a few things you should know before you place your first bet, the most important of which is the difference between spread betting and money line betting, which are the two most popular types of bets that are placed on sporting events. Here is a quick breakdown of both types of bets.
Money line betting is when you pick a team to win a contest outright, regardless of if the team you pick is the favorite or the underdog. This type of betting has two extremes in terms of payouts, if you pick a favorite to win, your payout is not as much as it would be if you pick an underdog to win. Due to that reason, a lot of people who bet the money line tend to favor the underdog, because they will make more money if the underdog wins the contest. One of the biggest benefits of the money line is the fact that you don’t have to worry about your team covering a spread, which makes betting on games easier.
Whenever you want to bet on the money line, you have to consider a few things, like the odds and the potential payout. For example, if the New York Yankees and the Boston Red Sox are going to play against each other, and the money line is:
This means that you have to place $700 to win $100 if the Yankees defeat the Red Sox, and if you bet $100 on Boson, you will win $500 if they defeat the Yankees. These types of lines are the reason some people feel that it isn’t worth it to place bets on the money line, especially when there is an overwhelming favorite.
Because of the potential payout if the Red Sox win, a lot of people who are new to sports betting will put their money on Boston, which is what the odd makers are hoping will happen. You have to understand that in this situation, the Yankees are the favorites because they are considered the better team. Unless a freak injury occurs, the Yankees are probably going to win that matchup 70% of the time.
Despite the fact that the favorite is likely to win most of the time, there are some exceptions to the rule, and some underdogs end up winning, but that doesn’t happen on a consistent basis, so don’t waste your money hoping an underdog will come through for you.
Due to the low payout of favorites on money line bets, a lot of sports betting has shifted to the point spread, because it allows people placing wagers to still be able to bet on underdogs if they wish, with some extra insurance in terms of the point spread. With the point spread bets, you still have the favorites and underdogs in every game, but if you are picking a favorite to win a game, they have to win by a certain amount of points, and if you are picking an underdog, they either have to win, or can’t lose by more than a certain amount of points.
This is a very appealing way to bet on sports for a lot of people, because you can get back close to what you are betting on the game, and in some instances, the exact amount you are betting, which makes it worth the gamble. Traditionally, when you bet using the point spread, the worst odds that you will get are -110 or -120, which means that you will make $90 on a $100 bet at -110, and $80 on a -120 bet, which is way more than you will make if you picked a big favorite on the money line.
Just like the money line, there is a downside to using the point spread, which is the fact that the team you pick has to cover the spread in order to win. If you pick a team to win at -3, it means that they have to win the game by more than three points, which means if they win by three points, the bet is called a push, which is a draw, and you get your money back. The same principle applies to the underdogs, if you pick a team at +3, it means that they either have to win the game, or can’t lose by more than three points. If they lose by three points, it is considered a push, and you get your money back.
These are the major differences between money line betting and point spread betting, each technique is different, but can be very profitable if used correctly.
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