Are you looking to bet on NBA games and are slightly confused about the lingo? Are you attempting to make a basketball money line bet, and you are unsure what to do or how to get started? We are here to provide the aid you need.
Making bets can be confusing and even more complicated when you are unsure of how you are betting. This article will provide you with helpful information on how to read money line odds, the difference between and money line vs. a spread, and so much more. We will even give you tips for betting on a money line.
Luckily, you do not have to do anything more than just to keep reading. Once you get to the end, you will be ready to place your first money line bet. Happy betting!
What is the Meaning of Moneyline Bet in Basketball?
A Money line bet is relatively straightforward and one of the simplest types of bets. There are only two options when making money line bets. A better must choose either team A or Team B.
A money line bet focuses on who wins the selected basketball game. Having an additional point spread does not matter when placing money line bets. You only win if you have chosen the right team.
How Does Moneyline Bet Work in Basketball?
There are several various components to money line betting and two terms which you should get familiar with. These terms are the underdog and the favorite. In money line betting, the favorite is the team that the sports betting service favors to win. It is also, frequently, the fan-favorite or the pick majority fans would pick as well. For example, in a New Orleans Pelicans vs. Miami Heat game, the apparent favorite would be the Heat.
For example, using the hypothetical game above and one hundred dollars as a baseline, Miami Heat would show a money line of -150. This translates to a better having to bet one hundred and fifty dollars in order to win one hundred dollars. Being that this is the favorite, they are already projected to win; upping the money line keeps the bets fair.
The opposing team and another term to know is “underdog.” The underdog is not only the opposing team, but they are the team that is most likely to lose. In this scenario, the underdog would be the New Orleans Pelicans. If the underdog wins, the payout is more significant since the odds are not in their favor. You will see plus sign as an indicator that a team is an underdog. Teams with this symbol will have a greater payout than the better’s original amount.
How to Place a Moneyline Bet in NBA?
There are several ways to begin to place your money line bet, as well as several services that will allow you to do so. All you need to do is create an account with one of your favorite sports betting sites or apps to get the process started. There are several options to choose from. A quick scan online will return several options.
Keep in mind that different states have different rules concerning betting. For example, if you are in Michigan or Canada and your home state is different, you will not be allowed to place bets. Your state will also restrict the apps which you can use based on your current location. For this reasoning, paying attention to the questions asked when signing up for the website or service is essential. Some of these sites and services include the following options:
- Caesars Sportsbook
- Points Bet
These are only a few options; however, there may be several others depending on your state. Many of these sites contain sign-on bonuses, live betting, and even the mobile app.
After you decide which betting service is best for you, or you have signed up for multiple, you must enter all of your information correctly and accurately. Using dummy data or incorrect information may result in you not being able to add or remove funds from your account. Before withdrawing any funds from the account, you will need to validate your identity. Once you have successfully signed up for the site, you will need to fund your account. This means adding money to use to place your bet. Once your account is fully funded, you are ready to place your first bet.
Your bets can also be made in person; however, when making bets in person, make sure that you tell the cashier clearly and accurately what you are attempting to do to ensure your bet is correct. However, you will confirm before handing over your funds. If you do bet in person, you will likely need to come back to the establishment to pick up the winnings if you do win, which, for some, can be an inconvenience.
After you have set up your accounts, you are ready to start betting. You will need to assess the games that will be upcoming and determine which bets will be most worth your while. It’s important to remember what the plus and minus signs mean when placing your bets. The team which has a number represented with a minus is the favorite. The greater the negative number is, the greater the favorite. This also means the lower the payout if this team wins. Your greater odds come in when the underdog defeats the fan-favorite.
After you have placed your bet, there is nothing left for you to do but wait and see who takes home the win.
Money Line vs. Spread: Which Bet is Better in Basketball?
A money line and a spread are two types of wagers which betters can use to get introduced to the world of sports betting. They are reasonably easy to understand, and the payouts can be nicely sized depending on your bets. We have already told you what a money line bet is; however; you may be wondering what the differences are between the money line bet and the spread.
A spread is more complex to win than a money line bet; however, the payout may be a little nicer. With a spread, the objective you are going for is to predict how near or far the final score spread will be. Below you will find an example of what a spread may look like.
- Portland Trailblazers +6.5
- Denver Nuggets -6.5
In the example shown above, if you are hypothetically going to place a bet on the game in favor of the Denver Nuggets, in order for you to win, they will need to win against the Trailblazers by at least 7 points. The Trailblazers would need to lose the game by 6 points or less for you to win this wager.
Depending on your objective when betting, which is typically to win the most money, the spread may be the riskier option, but it will have a greater payout. Before you start spreading, betting in a money line may be a safer and better practice, to begin with.
Which bet is better all depends on your aim when gambling. Choose the money line bet if you are looking for an easy bet with a small payout and minimal risk. If you are looking to take a greater risk and receive a greater reward, the spread bet is perfect for you.
3-Way vs. Money Line Betting: What’s the difference?
Another bet which is often compared when thinking about placing a money line bet is the 3-way bet. A 3-way bet allows a better to place a bet on an event, in this case, basketball, with three possible outcomes. These outcomes can be a draw between the teams; team one wins or team two wins. These are also the three wagering options. The main difference in this bet type is the addition of the draw wager when comparing a traditional money line bet.
A money line bet, similar to a three-way bet, does not consider a tie or a draw. In order to win your bet, there must be a clear winner. If you are confused about which way to bet or which type of bet you choose, that once again depends on your aim. If you are new to betting and want something easy, the basketball money line bet will always be a great option.
If you are an experienced better and looking to expand your horizon, it may be good to get into three-way betting. For newbies, it may be hard to understand at first, but it is not impossible. There is ultimately a type of bet for everyone.
7 Tips for Betting a Moneyline in Basketball
1. Know what you are getting yourself into – Calculating your payouts may be good to do before placing a bet. Though some sites will calculate your projected winning for you, several others do not. Therefore, it’s important to know if your bet will actually be profitable. There are several ways you can do this; the easiest is using the formula below. This formula uses a baseline of $100.
In looking at the example below, we will calculate your projected payout for the hypothetical game.
New Orleans Pelicans +190
Wager Amount $100
($100 / 100) * 190 = (1) * 190 = $190 in profit
Your profit would be $190 if you choose and win with the underdog team. Remember, you will not only get your $190 in profit, but you will also get your $100 back. This brings your total payout to $290.
2. Don’t overcomplicate things – The money line bet is extremely simple and something that even the most novice can understand better. Don’t overcomplicate things. These bets are simple, and your better service will do the majority of the work for you. All you have to do is choose a bet amount and wait.
3. Be willing to take the risk – You will never get anywhere in gambling if you aren’t willing to risk the chance of losing. Calculate how much your payout will be if you add a little bit more to your bets. A $20 difference may be the difference in a 200- or 300-hundred-dollar payout.
4. Know how bets look in every scenario – Depending on where you are betting and the site you are using, your bet may look different. Traditionally you will see the two teams you are looking to bet on, and the Moneyline will show the plus or minus, denoting who is the favorite, who is the underdog, and the odds, of course.
5. It is essential to understand how to read money line odds. The traditional way is referred to as American Odds. However, in some instances, you may see fractions or decimals. However, in places like Europe, they will use decimals to represent their money lines. Decimals also make things easier to calculate.
6. You may also come across your odds written as fractions. The numbers will all represent the same thing. However, they will be read differently and use a different formula to calculate your payout.
7. Your betting service is always looking to make a profit – No matter what the odds are in a game or who wins, your betting service is looking to make the same amount of money on either winner. To win a payout on both sides, the betting service may attempt to make some bets more attractive than others if they see that one side has an extensive amount of bets.
8. Find the best Moneylines – Don’t be afraid to sign up for multiple betting sites; we encourage it. Different betting sites will likely have different odds giving you a chance for a different payout. Where one site may show a team as +150, another may provide the odds of +175. This means that on the +175 site, you will make a greater payout on the same game. Who doesn’t like more money?
9. Spread the betting – IF you are unsure of what to do or what bet to choose, there is nothing wrong with betting on multiple sites and even doing numerous bets. It is your money; however, just choose wisely.
We hope you found these seven tips helpful. They can be applied when betting on NBA money line odds or even college basketball money lines; the choice is all yours.
Wrapping Things Up: What is a Money Line Bet in Basketball?
If you want to make a straightforward bet, the money line is an excellent option. There are no bells and frills. Winning a money line bet comes down to if your chosen team wins or loses. If you are unsure about your money line bet, you can place several other types; you don’t have to keep all your eggs in one basket.
If you are still looking to learn more about money bets or still need some extra help, you the seven tips for money line basketball to get you going. May the odds be in your favor; happy betting!