Wagering on Football Money Lines
What is a Money Line?
A money line is a type of wager that doesn’t have a spread to cover. You wager on who you think will win the game or event straight up. It doesn’t matter if it’s the favorite or the underdog.
Money lines are based on a $100 parameter. You will risk more to win less on the favorite and risk less to win more on the underdog. On certain games you may see an even (ev) wager, this means that you win the same amount that you risked.
Money lines are based on bets of $100. If you bet on the favorite, you will put more money on the line in order to win what you bet, but if you bet on the underdog, you will win back more than your bet. Sometimes you might see an even (EV) wager. With these wagers you win back what you bet (minus the vig/juice, of course).
How do you calculate a Money Line payout?
Example:
Cincinnatti Bengals +230
New England Patriots -270
You will have these two options:
If you bet on the Bengals then you are risking $100.00 to win $230.00.
Say you bet 1000 on the underdog (Cincinnatti Bengals +230)
(Moneyline / 100) * Bet Amount = Payout
(230 / 100 ) * 1000 = 2300 payout risking 1000
If you bet on the Patriots to win then you are risking the $270.00, only to win $100.00.
Say you make a 1000 bet on the favorite (New England Patriots -270)
(100 / Moneyline) * Bet Amount = Payout
(100 / 270 ) * 1000 = 370 payout, risking 1000
So as you can see, it’s entirely up to you whether you’re willing to risk a whole grand to win a mere 370, or if you want to take your chance on the underdog to potentially double your winnings.
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