If you’re new to the world of sports betting, it might be a little bit mysterious where to start. There are so many different terms and slogans that can leave you totally confused as to what exactly is going on.
Does Moneyline mean something different in New Jersey than it does in Nevada? Or is it even legal to use in some states and not others? Do you need to be a member of an online betting site to use moneyline betting? What is a prop bet and what is the spread?
Don’t worry, finding the answers to these questions is totally possible. They might not be simple, but they’re not hard either. In this article, we will try to answer as many of your questions as we can, so that you can get the absolute most out of your newfound love for betting. Let’s get into it.
What Is Moneyline Betting?
When you place a bet on an event such as a horse race or a basketball game, you’re agreeing to take a certain amount of money, either in the form of cash or credit, on the outcome of the event.
Most people simply refer to this as “taking a wager” or “making a bet”, but that can be a bit misleading. What is usually meant by that is a wager placed on an even number for an even amount of money. For example, you might wager 10 bucks on the next hockey game to be played in Philadelphia. If the game ends up being canceled or postponed, you’ll need to cough up another 10 bucks to cover your original lose.
In some cases, when there is more than one individual wagering on an event, those individuals may be referred to as “counterparties”. For example, if Joe Schmo bets 10 bucks on the next hockey game to be played in Philadelphia, and Billie Joe bets 20 bucks on the same game, they would be wagering against each other. In that case, it is understood that Joe Schmo and Billie Joe are “counter-parties” and that they are wagering against each other on the outcome of the game. If you’re not familiar with the terminology, don’t worry, we’ll explain wagering later.
The reason it’s important to understand what Moneyline means, is because there are so many different ways to phrase it. For example, “the total combined bet between HorseA and HorseB”, “the combined moneyline odds”, or even “the moneyline score” can all mean the same thing. Let’s break it down.
Different Forms Of Moneyline
When you place a wager on an event, you may specify which way you want to win or lose, using either a vertical or a horizontal line. For example, you could choose to bet on the favorite horse in the race, or you could choose to back the underdog. If you pick the favorite, you’ll need to put down some cash regardless of the outcome. If you bet the underdog, you’ll stand a chance of winning if the match ends in a tie. Tie bets allow the casino or bookmaker to share profits with the bettor, if the bet wins.
You may not associate moneyline with ties, but that’s because most bookmakers don’t allow them. However, if you’re playing at a regulated online casino in New Jersey, ties are perfectly acceptable. In other words, if you’re playing at a land-based casino in New Jersey, you’re most likely going to lose your tie bet, since taking a tie bet is generally not allowed there. In most cases, people wager on ties because they think that the odds of the underdog winning are better than those of the favorite. While this might be true in some instances, it really depends on the event and the betting odds, as you’ll see later in this guide.
Why Does Moneyline Matter?
This simply means, taking into consideration all the various bets set on the outcome of an event, the total amount wagered on that event. In other words, it’s the total amount of money that’s been placed on the outcome of an event. In some cases, this can be expressed as a percentage or a ratio. For example, if Joe Schmo bets 10 bucks on the next hockey game to be played in Philadelphia, and Billie Joe bets 20 bucks on the same game, they have bet 100 percent of the money on the game. This might seem like a no-brainer, but just to be on the safe side, it’s important to add up all the individual bets and percentages before you make that calculation.
In some instances, you might see the overall odds or the money line used instead of the total amount wagered on an event. For example, let’s say that Joe Schmo and Billie Joe have placed a combined total of 40 bucks on the next hockey game to be played in Philadelphia. In that case, the overall odds of winning would be 2 to 1, since they betted on the favorite. Then, if you want to find the moneyline odds, which is the total amount wagered on the game, you would merely have to divide the total 40 bucks by two. So in this case, the moneyline odds would be 10 bucks.
In other instances, people might refer to the total combined moneyline as the “implied odds” or the “line”. Some people call it the “house advantage” when discussing betting on sports. It basically indicates the amount that the bookmaker or casino has to make up in order to cover their operating expenses, otherwise known as the “take” or “betting obligation”.
Where Can I Play?
If you’re looking for a safe and secure place to play online, you should visit one of the many reputable online casinos that offer games from the NetEnt, Rival, and Parlayware families of casino software. You’ll need to make sure that you have a reliable wireless connection before you start playing, as well as a stable Internet connection. Playing at a reputable online casino means that you’ll be playing at a safe and secure location, and there will be no worries about the legitimacy of the site or the games offered there.
How Do I Place A Bet?
There are several ways to place a bet on an event, whether you’re playing online or offline. First off, you can go through an online casino’s cashier and place a wager manually. In most cases, you’ll need to enter the total amount that you wish to wager, along with the outcome of the event in the form of a tie or a win/loss record. Some casinos will accept bets via email, text message, or even through an app, so you can place a bet wherever and whenever you like, provided you’re able to follow the instructions correctly.
How Do I Split The Profits?
If you win, you’ll need to decide with the casino or bookmaker whether or not you want to share the profits from the wager. In some cases, the winnings from the wager might be credited to your account in cash, while in other cases, it might be in the form of a chip or token that can be used to make additional wagers. If the bet is placed at a brick-and-mortar casino, you’ll most likely need to contact the casino’s customer support in order to get the correct chip or token for your winnings.
What Are The Different Terms For Bets?
There are several other terms for bets besides moneyline, as we discussed earlier. Some of these other terms might be a little more difficult to understand, but that’s mostly because they’re used somewhat differently. It’s important to learn the different terms so that you can use them correctly, but don’t be overwhelmed by all the jargon. When in doubt, just ask the person next to you, or the casino’s customer support staff for help. They’ll be happy to point you in the right direction.
Here’s a short list of the different terms and their meanings: