With a Moneyline bet, you’re simply betting on which team will win the game. No point spreads, no fancy math – pick the team you think will win and put your money down.
If you’re new to sports betting, the Moneyline may initially seem a bit confusing. But don’t worry, it’s quite simple. This article will explain everything you need to know about Moneyline betting, including how to read odds and place bets.
Best Moneyline Betting Sites in Canada
If you’re looking for the best Moneyline betting sites in Canada, you’ve come to the right place. Here at Betting.ca, we’ve scoured the internet to find the top online sportsbooks that offer Moneyline betting odds on various sporting events.
Whether you’re a diehard hockey fan or want to bet on the big game, we’ve got you covered. We’ve also included a handy guide to help you understand how Moneyline betting works. So what are you waiting for? Check out our list of the best Moneyline betting sites in Canada and start placing your bets today!
What is the Moneyline?
The Moneyline is a type of bet based on which team will win the game. It doesn’t matter how many points they win by, or even if they win by one point – as long as your team is the winner, you’ll win your bet.
The Moneyline differs from other types of bets, such as point spread bets, based on how many points a team wins or loses. With a Moneyline bet, the only thing that matters is who wins the game.
How to Read Moneyline Odds
Moneyline odds may look confusing at first, but they’re actually quite simple. Here’s an example:
In this example, the Los Angeles Lakers are the favourite, and the Houston Rockets are the underdog. The minus sign (-) in front of the Lakers’ odds indicates that they’re the favourite, while the plus sign (+) in front of the Rockets’ odds means they’re the underdog.
The number next to the minus sign (-) is how much you need to bet to win $100. So, in this example, you would need to bet $250 on the Lakers to win $100.
The number next to the plus sign (+) is how much you would win if you bet $100. So, in this example, you would win $350 if you bet $100 on the Rockets.
Putting it all together, we can see that the Lakers are favoured to win by 4.5 points. If they win the game by 5 points or more, you will win your bet. But if they lose the game or only win by 4 points or less, then you would lose your bet.
How to Place a Moneyline Bet
Placing a Moneyline bet is simple – just find the team you want to bet on and put your money down. Most sportsbooks will allow you to bet on the Moneyline for any game, but some may have restrictions for certain sports or events.
For example, most sportsbooks will not allow you to bet on the Moneyline for the Super Bowl because there is too much public betting interest, and the odds would be unfair. But you can usually bet on the Moneyline for regular-season games, playoff games, and even some championship games.
When you’re ready to place your bet, go to the sportsbook and find the game you want to bet on. Then, look for the Moneyline odds and put your money down on the team you think will win.
It’s that easy!
Moneyline Betting Tips
Now that you know how to read and place Moneyline bets, it’s time to learn some tips to help you win. Here are a few things to keep in mind when betting on the Moneyline:
1. Favorites tend to lose more than they win
This may seem counterintuitive, but it’s quite common. In any game, the favourite will only win about 50-60% of the time. That means the underdog has a decent chance of winning, even if they’re not favoured.
2. Don’t be afraid to bet on the underdog
Because of the previous point, you shouldn’t be afraid to bet on the underdog. In fact, betting on the underdog can be pretty profitable since you can often get them at better odds than the favourite.
3. Do your research
Before you place any bets, make sure to do your research. Know which team is the favourite and why, and see if any factors could swing the game in the underdog’s favour. The more you know about the teams and the matchup, the better your chances of winning your bet.
4. Be patient
Don’t try to force bets just because you want to gamble. If you don’t see a betting opportunity that you like, then wait for another day. Trying to force a bet will only lead to bad decisions and lost money.
5. Manage your bankroll
Last but not least, always make sure to manage your bankroll responsibly. Don’t bet more than you can afford to lose, and never chase your losses. If you stick to these simple rules, you’ll be on your way to successful Moneyline betting.
Moneyline Betting Strategy
Now that you know all there is to know about Moneyline bets, it’s time to start putting that knowledge into action. This section will give tips and strategies for betting on money lines and help you start placing your first bet.
1. Do your research
As we’ve already talked about, knowing the teams in each game is crucial for successful Moneyline betting. There are a few other things you should also know, such as each team’s current form and any relevant injuries. This information can all be found on the internet, so there’s no excuse for not doing your research.
2. Bet on the underdog
One of the best ways to make money from Moneyline betting is to find some underdog bets. These are bets where the team is not favoured to win, but they still have a chance. The odds will be higher on these types of bets, which means you can potentially make more money if you win.
3. Be patient
Another important thing to remember is to be patient. Just because you don’t win every bet doesn’t mean you’re doing something wrong. It’s important to stick with your strategy and not get too discouraged if you have a few losing bets. Remember, the key is to make money in the long run, not just in the short term.
4. Manage your bankroll
Finally, it’s important to manage your bankroll responsibly. This means only betting what you can afford to lose and not chasing your losses if you have a down day.
By following these tips, you’ll be well on making money from Moneyline betting. Just remember to be patient, do your research, and bet responsibly. You can start making consistent profits from your Moneyline bets with a little time and effort.
Best Moneyline Betting Sites
Now that you know everything there is to know about Moneyline betting, it’s time to start placing some bets. But before you do that, you need to find a good sportsbook to bet with. Here are our top three picks for the best Moneyline betting sites.
BetOnline is one of the most popular sportsbooks, and it’s easy to see why. They offer various markets, competitive odds, and excellent customer service.
Sports Interaction is another great option for Moneyline betting. They also have an excellent mobile app so that you can bet on the go.
Bodog is another excellent choice for Moneyline betting.
Moneyline Betting in Canada
Moneyline betting is a popular way to bet on sports in Canada. Moneyline bets are wagers on the outcome of a game or event. There is no point spread or handicap, so the odds are usually even money (1:1). For example, a Moneyline bet on the Toronto Maple Leafs to beat the Montreal Canadiens might have odds of +100. This means that for every $100 you bet, you would win $100 if the Maple Leafs won.
Moneyline bets are popular because they are simple to understand, and there is no need to worry about a point spread. Moneyline odds can vary depending on the teams involved and the betting market, so shopping for the best prices is essential.
If you are new to sports betting, Moneyline bets are a great place to start. They are straightforward to understand, and there is no need to worry about a point spread. Pick the team or player you think will win and place your bet!
Moneyline betting is a great way to bet on sports. It’s simple to understand and easy to get started with. By following our tips and strategies, you’ll be well on making money from your Moneyline bets. And by using one of our top three picks for the best Moneyline betting sites, you’ll be sure to get the best odds and customer service possible. So what are you waiting for? Start placing some Moneyline bets today!
Moneyline Betting FAQ
Do you still have some questions about Moneyline betting? Here are answers to some of the most common questions about this type of wagering:
To calculate your potential winnings from a Moneyline bet, multiply the amount you bet by the odds of the team you’re betting on. For example, if you bet $100 on a team with +200 Moneyline odds, you would win $200 if they won the game.
Placing a Moneyline bet is simple. Go to the sportsbook and find the game you want to bet on. Then, look for the Moneyline odds and put your money down on the team you think will win.
Some tips for winning Moneyline bets include doing your research, betting on the underdog, and being patient. Also, manage your bankroll responsibly and only bet what you can afford to lose.
A parlay bet is a bet that combines two or more Moneyline bets into one. This can lead to higher potential winnings, but it also means that all of your bets have to win for you to cash out.
A round-robin bet is a type of parlay bet that combines three or more Moneyline bets into one. This bet is also known as a “full cover” bet since it covers all possible combinations of your Moneyline bets.
A teaser bet is a parlay bet that allows you to adjust the point spread in your favour. For example, if you bet on a team as a 6-point favourite, you could bet on them as a 3-point favourite with a teaser bet. This would increase your chances of winning, but it also comes with reduced odds.
There are a few ways to tell if a sportsbook is reputable:
Check to see if a government regulator licenses them. Read online reviews from other bettors. Please make sure they offer customer service in case you have any problems.