When it comes to sports betting, even the casual fan can become incredibly knowledgeable. In fact, many people consider themselves experts just because they know a little bit about so many different sports and odds movements. That being said, one subject that most people don’t touch on is the money line. What exactly is the money line and how does it work?
The Money Line Explained
The money line is one of the more basic principles of betting, simply put, you either win or lose the money you risked. However, because there are so many variables that can affect the final result, it can be difficult to fully understand just what that means in practice.
For example, if you make a wager on the Chicago Bears to win the Super Bowl, but they end up losing the game, you will technically lose the money you risked because they did not meet your expectations. However, since the Bears finished the season as champions, you can argue that you achieved your goal, making it a successful wager regardless of the actual outcome.
How Does The Money Line Work?
To begin with, the money line is always expressed in relation to two teams. When writing or speaking about the money line, the two teams involved are always mentioned in relation to each other. That is, you have the home team versus the visiting team, or the two teams will be the same but one will be favored over the other. For example, if you wager on the Chicago Bears to win the Super Bowl, you are in effect wagering that they will score more points than the New England Patriots, that is, you are getting them to cover the 5.0 points spread.
So, while it is essentially a 50-50 proposition as to whether or not your selected team will win, the amount of money you risk is determined by how much you are willing to wager. For example, if you place a $100 wager on the Bears and they win the Super Bowl, you will have covered your original $100 wager plus the $100 you risked, resulting in a profit of $200. But if they lose, you will have nothing left to show for your wager other than the money you risked. Essentially, you lose your original $100 and your $100 risk.
The money line is a popular betting option among sports fans because it is simple to understand and easy to apply. Many sportsbooks offer a simplified formula allowing for easier wagering. Some people even find it easier to predict the outcome when wagering on a team they already know something about, whether it be good or bad. Additionally, because it is always a “win-win” situation when betting on the money line, it tends to create more favorable outcomes when compared to other betting options. However, just because the money line is easy to understand and predicts well does not mean it is an ideal choice for every bettor.
Other Forms Of Betting
Other forms of betting that are available include over/under betting, while points-spread betting is also possible, as well as many various types of prop bets. Many people who enjoy betting but don’t know much about the money line may choose to simply stick with the basics and place bets using only the four elements of probability (frequency, magnitude, order, and space). Doing so will usually result in winning money, but it may not be the best choice for everyone.
Since it is difficult to explain each individual form of betting and the odds involved in each one, the best policy when it comes to beginners is to stick with what is most commonly accepted and used, namely, the money line. However, even experienced bettors should take the time to learn other forms of betting and how to apply the odds involved in those wagers. Doing so will increase your chances of having successful and enjoyable betting experiences time and time again.