If you’re new to sports betting, understanding the basics is key to making informed decisions and increasing your chances of winning. One of the most popular ways to bet on sports is moneyline betting, and this guide will break it down in simple terms, helping you navigate the process and make smarter bets. Whether in Melbourne, Sydney, or Perth, learning about moneyline odds can give you an edge in your betting strategy.
What is Moneyline Betting?
Moneyline betting is one of the simplest and most popular ways to place a bet on sports. In a moneyline bet, you only need to pick the team or athlete you believe will win a match or game. The goal is straightforward: choose the winner.
In Australia, as in other parts of the world, moneyline betting is commonly used for sports like AFL, rugby, tennis, and cricket.
Key Terms to Know in Moneyline Betting
- Favorite: The team or athlete expected to win.
- Underdog: The team or athlete expected to lose.
- Vig (Vigorish): The commission charged by sportsbooks on each bet.
- Implied Probability: The likelihood of a specific outcome based on the odds.
How to Read Moneyline Odds
Moneyline odds in Australia often use the American Odds format, but you may also come across decimal odds. Here’s how to interpret them:
Moneyline Odds Example
- Favorite Team: -135
- Underdog Team: +115
- -135 means that if you want to win $100 by betting on your favorite team, you’d need to bet $135.
- +115 means that if you bet $100 on the underdog team and they win, you’d make $115 in profit.
These odds give you an idea of how much risk is involved and the potential payout for your bet.
How to Bet on the Moneyline
Let’s take an example from the AFL:
- Sydney Swans: -150
- Western Bulldogs: +130
The Sydney Swans are favorites; you’d need to wager $150 to win $100. On the other hand, betting on the Western Bulldogs as underdogs means that if they win, your $100 bet would yield $130 in profit.
Moneyline Favorites vs. Underdogs
In moneyline betting:
- Favorites: Have unfavorable odds (e.g., -150). You need to wager more to win less. It’s a safer bet but with lower returns.
- Underdogs: Have favorable odds (e.g., +200). You risk less to win more. It’s a riskier bet, but the reward is more significant.
Example Breakdown:
- $10 Bet on a Favorite at -150: You’d win around $6.67 if the favorite wins.
- $10 Bet on an Underdog at +200: You’d win $20 if the underdog wins.
What is a ‘Pick Em’ in Moneyline Betting?
Two teams are considered equally matched in a “pick ’em” situation. The odds are usually set at +100 for both sides, meaning no team is a clear favorite.
How to Win a Moneyline Bet
Winning a moneyline bet is simple—pick the winner. However, how much you win depends on the odds and the amount you wager.
- If you bet on a favorite, you must wager more money to win less.
- If you bet on an underdog, you’ll risk less money, but the payout will be higher.
Which Sports Use Moneyline Betting in Australia?
While moneyline betting can be used for most sports, it’s most commonly seen in:
- AFL (Australian Football League): Moneyline betting is popular here for choosing which team will win the match.
- Rugby: Whether it’s Rugby League or Rugby Union, moneyline betting allows you to bet on the winner.
- Tennis: Moneyline bets are often used to wager on a player to win a match.
- Cricket: Moneyline odds are used to select a test match winner or T20 game.
Moneyline Parlays
Moneyline parlays let you combine multiple moneyline bets into one. By tying together multiple bets, you can increase the potential payout. However, if just one of your picks fails, the parlay loses.
For example, if you bet on three different AFL games, you need all three picks to win for your parlay to be successful.
Why Do Moneyline Odds Change?
Moneyline odds can fluctuate due to several factors:
- Betting Activity: If most bettors pick one side, the odds may adjust to balance the wagers.
- Injuries or Lineup Changes: Key players being unavailable can impact a team’s chances of winning, changing the odds.
- Weather: In outdoor sports, weather conditions like rain or wind can affect the outcome, causing odds to shift.
- Public Perception: Teams or athletes in the spotlight may see their odds change due to fan interest.
Tips for Successful Moneyline Betting in Australia
- Shop Around for the Best Odds: Different sportsbooks may offer different odds. By checking multiple sites, you can find the best possible returns.
- Consider the Value: Don’t just bet on favorites; sometimes, betting on an underdog with good odds can be more profitable in the long run.
- Factor in Injuries: Pay attention to player injuries, as they can drastically affect the odds.
- Use Betting Calculators: Moneyline calculators can help you determine the exact potential profit based on your bet.
Conclusion
Moneyline betting offers a straightforward way to wager on sports, especially for those new to betting. Understanding how to read the odds and make informed bets is essential for maximizing your chances of winning. Whether you are betting on AFL, rugby, or tennis in Australia, this guide has equipped you with the basics to start making smarter bets today!
Now, start placing your moneyline bets and enjoy the excitement of sports betting in Australia!
Moneyline FAQ
What is the best way to win a moneyline bet?
Pick the winner, but be mindful of the odds and the amount you wager.
Is it better to bet on favorites or underdogs?
Favorites offer a lower risk but smaller returns. Underdogs offer higher rewards but are riskier bets.
How do I calculate potential winnings from a moneyline bet?
Use a moneyline calculator to determine your potential profit based on the odds and wager amount.
