The general idea behind a money line bet, is that you are simply choosing a team to win a game outright. Unfortunately, it’s not quite as easy as simply picking a team to win and you betting $10 and getting $10 back, because we always have to worry about the odds that go along with a money line bet! The main thing that factors into the odds that go along with a money line bet, is how heavy of a favorite or underdog that the team that you are betting on is. So for example, say that you are betting on a team who is -3 or -4 in the NBA, you’ll find that betting them straight up won’t cost you an incredible amount, and you’ll probably get odds of around -150 or so in most situations. But as that line begins to get larger and larger, those odds will continue to go up as well, meaning that you aren’t going to get as great of a return on your money for betting the heavier favorite on the money line.
Betting on the money line is a pretty straight forward deal, but it’s also one that definitely requires some strategy, because you need to be able to set a line on when betting the money line is worth it or not. On top of that though, you’ll find that betting on underdogs can be a bit crazy as well, mainly because heavy underdogs can pay out huge, but you have to find good angles for betting on them. We’ll cover all of this and more below, and make it so that we can have consistently profitable bets on the money line in any sport out there, because we always have the option to bet a team straight up!
Researching Underdog Bets
Obviously seeing those massive odds on a team who is an underdog can be very tempting to bet. It’s always tough to turn down a bet in which you see the option to bet something like $2 and win $15, but this means that the team that you are betting on is a pretty massive underdog. In order to place this bet you need to have a great bit of research on the game, and love the angle on the side of the underdog. You should NEVER bet a team on the money line who is an underdog just because of how big their odds are, because that is the fastest way for you to lose money. There are some great spots for betting on underdogs with big odds though, and often times you’ll find that it may have something to do with the specific match-up, or how a team is doing at home vs. on the road. Regardless of the angle, just make sure you are taking the time to do the research on the game!
Knowing When Lines are Worth it
So say that an NFL team is favored by four but you don’t know if they can win the game by more than a field goal. This can either be a spot to buy points, or to simply bet on the money line. The odds will vary quite a bit, but if you can get a team at around -140 or -150 for this (bet $14 or $15 to win $10) then it could be worth the bet. But if you find that betting a team on the money line is a bit too expensive, then you need to just avoid it all together. Many people set limits on the odds that they are willing to take for betting a team on the money line, and this is a very smart thing to do. Another thing that’s worth pointing out is that if you are betting on a huge favorite, taking them on the money line with the awful odds that comes with it is almost NEVER a good idea, so you may as well just avoid that all together.
In general betting on the money line can be a great thing if done correctly. Don’t give up too much in terms of the odds, and also make sure that you are doing your research in full before placing a money line bet. You never want to just go into a bet blindly without knowing what you are getting on both sides, because doing the research could change your entire perspective on a bet!