Moneylines are a popular way to place bets on sports events, particularly when wagering on the outcome of a game. Here's a breakdown of how moneylines work:
American Odds: Moneylines in the United States are typically expressed in American odds format. These odds are centered around the idea of winning or losing $100.
Favorite: When you bet on a favorite, the moneyline is represented by a negative number (e.g., -200). This means you need to risk that amount to win $100. So, if you bet on a -200 favorite, you must wager $200 to potentially make a profit of $100.
Underdog: On the other hand, when you bet on an underdog, the moneyline is represented by a positive number (e.g., +200). This indicates how much profit you can make for every $100 wagered. So, if you bet on a +200 underdog, a $100 bet could potentially earn you a profit of $200.
Fractional Bets: You can also place fractional bets on moneylines. For example, if you bet on a -200 favorite, you could risk $20 to win $10, $2 to win $1, and so on. Conversely, if you bet on a +200 underdog, you could wager $10 to win $20, $1 to win $2, and so forth.
The Juice: The reason you have to risk more on the favorite than you'd win on the underdog is due to the sportsbook's profit margin, which is known as the "juice" or "vig." Sportsbooks adjust the odds to ensure they make money regardless of the outcome. This is how they maintain their edge over bettors.
Applicability: Moneylines are used in various sports, but they are especially common in sports with lower-scoring games like baseball, hockey, and soccer.
So, when you see moneyline odds like -375 for the Colts and +300 for the Texans, it means that the sportsbook believes the Colts are heavily favored, and you'd need to risk a substantial amount to make a significant profit on them. Conversely, betting on the underdog Texans offers the potential for a higher return, but it's considered a riskier bet due to the perceived difference in team strength.
