Moneyline is one of the most straightforward and fun bets to place. It’s easy to understand and can offer bettors some big payouts, especially if they back an underdog. It’s important to remember, though, that just like point spreads, Moneyline bets are not guaranteed winners and should always be placed based on thorough research.
Typically, sportsbooks have their own oddsmakers that set the Moneyline odds for games and events. They assess each team (or player in a tennis match or fighter in a UFC bout) and determine how likely they are to win. Then, the oddsmakers add a negative or positive number next to each team or player to indicate how much you would win if you placed a winning $100 bet on them.
In addition, the oddsmakers will try to get the odds even on both sides of the Moneyline so that they can pay out winners easily. This is especially true in sports leagues that use overtime to settle ties after regulation, like the NHL and NFL.
While betting on the favorite is a solid strategy, it can quickly become expensive if a heavy favorite loses multiple times. That’s why it is important to set a limit for the maximum amount you are willing to risk on Moneyline bets. Shopping around for the best prices for a particular team can also help, as lines tend to shift throughout the week as public wagering comes in. For example, if you find the Yankees at -600 at one sportsbook, but the Astros are offering +600 elsewhere, that can be a significant difference in potential winnings.