So you’re interested in sports betting. Congrats! You’re in the right place. Let’s dive into the world of moneyline betting. What is it, and what makes it different from other kinds of betting?
What is Moneyline Betting?
To start, let’s talk about the conventional way of betting. You have two teams you want to wager on, and you pick one (or more) as a winner. Maybe you’ll bet on the NBA Los Angeles Lakers and the New York Knicks, picking the Lakers as the winners of the match up. If you think the Lakers will win, you place a wager (or bets) on them. Similarly, if you think the Knickerbockers will win, you place a wager (or bets) on them. If you feel confident about which team is going to win, you might try some scalping on the favorite. When one team is heavily favored to win, you can make a quick buck by taking the opposite side, or backing the other team. This is what is known as ‘over/under’ betting, where you try to guess which number the total will be (over/under).
Now, on to the good stuff. Moneyline betting is pretty self-explanatory. The moneyline is basically the line that the bookmaker gives you for the match up. For example, if an NBA game is played between the Los Angeles Lakers and the New York Knicks, and the bookmaker gives you odds of 3.5 for the Lakers to win and 9.0 for the Knicks, your money would be on the green team since they’re the underdog. You’ll notice the moneyline always stands for the ‘money winner’ in an equation like this:
- If you win, you get your money back (plus some)
- If you lose, you lose the amount you placed (plus some)
What if we told you there was a way to make more money betting on sports than you would otherwise? It’s called parlaying. Parlaying just means taking advantage of what is known as ‘synergy’. For those of you not familiar, synergy is when one thing enhances the effectiveness of another. For example, shooting a football improves your chances of scoring a touchdown. Or, if you’re a fan of the Philadelphia Eagles, it might be that laying points opens up more opportunities for you to win. In the case of the NFL, point spreads are set up to create more chances for you to win, creating what is called ‘moneyline parity’.
In other words, if you can get over on the underdogs, then parlaying makes it easier for you to strike it rich. Of course, there is always the risk of losing your entire stake. But, if you’re looking for opportunity, then moneyline betting is a great option. Since it’s pretty much ‘any sport, anytime’, you have the chance to place bets 24/7. And the best part is– you can do so for a small percentage of the money you would’ve spent on groceries. Win, Win!
Why Should You Betting on Sports?
Let’s get to the point. You’re reading this because you’re interested in sports betting. That’s why we’re here. Why should you bet on sports? There are plenty of perfectly good reasons. First off, as we mentioned above, it’s available anywhere and at any time. You don’t have to be at a casino to place a wager on sports. That’s convenient. Second, as a fan of a certain team, you can make some easy money. Third, parlaying takes advantage of something known as ‘synergy’, which we discussed above. Fourth, the actual games are often more exciting than the ones played at a traditional arena or stadium. Fifth, many books will give you a bonus for making a certain number of successful bets. Sixth, it’s a good idea to try out different sports and different teams to find out what works best for you. Seventh, you get to test your knowledge against that of a bookmaker. Few things are more satisfying than proving yourself smarter than someone who knows less than you. Finally, unlike other kinds of betting, in sports you often have more than two options. That gives you the chance to make the right choice, if you’re not confident about which one is best.
The Pros And Cons Of Sports Betting
Before we wrap this up, let’s discuss the good and the bad things about sports betting. First, the pros. Just like anything else, there are benefits to sports betting, and it’s worth thinking about what those might be. For instance, it’s always nice to have extra money. Second, the cons. Just like anything else, there are drawbacks to sports betting. But, let’s discuss a few of the major ones. Third, missing out on certain games. Unless you’re lucky enough to live in an area where your school’s football season lasts a while, you’ll probably have to miss some of the games. This is something you have to live with. Fourth, needing a drink. It’s not always fun to need a drink after you place a wager, but it’s part of the territory. Fifth, not being able to walk away if you lose. Unless you’re at a casino, you’re going to be committed to the bet you make. This is often seen as a positive thing by some, but it can also be a huge negative. Sixth, the arrogance of some gamblers. Just like any other vice, there are people who abuse their power when it comes to betting. They’ll push you to place bets you shouldn’t make, or make bets against you. They’re not nice people. Finally, the risk of getting into trouble. It’s always a possibility that you could get into trouble with the law when it comes to sports betting. The categories of crime vary by state, but they can include things like gambling, fraud, and racketeering. These are all very serious crimes, which can net you jail time. Just something to be aware of.
Hopefully, this article has helped you understand what moneyline betting is, and why you might want to consider it for your own betting pleasure (or business). To keep up with all the latest news and info, check out our blog regularly or follow us on Twitter, Instagram, or Facebook. And don’t hesitate to reach out to us if you want some help, or if you want to share your own stories about how sports betting has helped you in your life.