Moneyline betting

Betting on the moneyline is one of the easiest ways to get into sports betting, even if you’re new to the game. Let’s walk through what a moneyline bet is and cover some examples using popular Canadian sports teams and events. The goal here? Keep it simple, straightforward, and fun.

What’s a Moneyline Bet?

Moneyline betting is one of the simplest and most popular forms of sports wagering. Instead of betting on point spreads or totals, you simply pick the team or player you think will win the game or match.

Example:

Team A: -150
Team B: +200
If you bet $100 on Team B and they win, your payout is $300 (profit of $200).

Moneyline Odds: How Do They Work?

Moneyline odds can be presented in three formats:

American Odds: Displayed as positive (+) or negative (-) numbers.
- Example: +200 means you win $200 on a $100 bet; -150 means you need to bet $150 to win $100.
Decimal Odds: Easy to calculate payouts; just multiply your stake by the odds.
- Example: Odds of 2.5 on a $10 bet yield $25 total payout.
Fractional Odds: Common in the UK.
- Example: 5/1 means you win $5 for every $1 wagered.

When to Use Moneyline Bets

For newcomers, moneyline bets are a great starting point. They’re simple to understand—your team wins, you win. Also, the lower vig in moneyline markets makes them a more bettor-friendly choice.

They are ideal for:

Predicting outright winners in games.
Sports like soccer, basketball, or tennis where the focus is on the winner rather than the score.

How to Place a Moneyline Bet

To place a moneyline bet is simple, you just need to make sure you choose a reliable Canadian Sportsbook and choose a Match or Games with win, lose or tie selection. Make sure to decide your stake after reviewing the odds and place your bet accordingly.

Check our best Canadian betting sites to get started.

Tips for Moneyline Betting

Look for Value: Don’t just bet on the favorite; assess whether the odds offer value.
Consider Underdogs: In certain situations, underdogs can offer high returns with calculated risks.
Research Key Factors: Analyze team/player form, injuries, and head-to-head stats.
Line Shopping: Always check multiple sportsbooks for the best odds. For example, if you’re betting on the Raptors, one sportsbook may offer them at -120, while another has them at -110. Over time, getting the best odds can add up!
Live Betting: Want to bet on the action as it unfolds? In live betting, moneyline odds adjust as the game progresses. Say the Leafs are trailing by a goal in the second period; you might find favorable odds on them to make a comeback.
Stick to Low-Vig Markets: this type of bets often carry lower vig than prop bets or futures, which is generally better for beginners or those looking to maximize value.

Looking for more guidance in betting? Check all our betting guides.

How Does the Moneyline Payout?

At the end of the game, your bet is graded one of three ways:

Win: Your team won! You get back your original stake plus your winnings.
Loss: Your team lost. Your bet is a loss, and you forfeit your stake.
Draw (Tie): In rare cases where a tie occurs (like in regular season NHL games), the sportsbook may refund your stake.