Can I Make Moneyline Bets in Maryland?
Yes, moneyline bets are legal in Maryland. The state legalized sports betting in May 2021. On November 23,it went live. You can place them at any operator, using a Maryland sports betting promotion if you choose. If you are new to betting, and have never used one of these offers, we suggest claim the Caesars Maryland promo code to place your first moneyline bet.
What Does Moneyline Mean And How Is A Moneyline Bet used?
Every major matchup in sports betting has a moneyline wager as part of its betting options. Moneyline odds are set by betting sites according to the likelihood of a team winning a game. Each matchup typically has a favorite and an underdog, though sometimes moneyline odds will be even.
Moneyline betting is simple because it is only concerned with the outcome of the game unlike other bets in which total points, margin of victory, or statistics come into play (prop bets). Moneyline betting is simply placing a wager on a Maryland sports betting app or site on a team to win a game, or an individual to win a match.
The Favored Team
Every matchup features a favorite. Whether it's because they have more talent, are playing at home, are healthier or are meeting an opponent at the right time, one team almost will always be expected to win as far as a moneyline is concerned.
Because they are expected to win, a bet on the favorite requires more money to earn a payout. A favorite is the team with minus moneyline odds: For example, if the Baltimore Ravens are -180 against the Green Bay Packers (who will have a positive number), the Ravens are considered the favorite, it would take $180 to win $100 in profit.
The Underdog Team
Everyone loves the underdogs. The underdog is not expected to win the game as far as oddsmakers are concerned, meaning bettors do not need to place as big of a bet to earn a payout given that it is less likely. Underdogs are given plus moneyline odds. For example, if the Washington Wizards are +200 against the Milwaukee Bucks, the Wizards are considered the underdog, and a successful $100 bet on them would net $200 in profit.
Betting odds come in all shapes and sizes, and most times there is a distinct favored team. For BetMGM Maryland and other sportsbooks, however, sometimes the difference is too close to call, however, and a sportsbook will make moneyline odds as small as -110 or +100 like bettors would see if they were betting the spread. The corresponding spread would likely be a pick 'em in this scenario.
Outcomes On The Moneyline
A moneyline bet is as simple as can be in sports betting. The winner and loser of a game is the respective winner and loser of the moneyline bet. Here are the possible scenarios:
A win on the scoreboard is a win for moneyline bets. Bettors will not need to sweat the last few minutes or innings of a game as far as the margin of victory is concerned like they would if betting the spread. A moneyline bet is only concerned with the outright winner.
Unlike point spreads and totals, there is no math needed when it comes to a moneyline loss. If the team you bet on loses the game, you lose the bet.
It's unusual as NBA, MLB and NHL games don't allow for ties, but there are instances in sports betting when a moneyline bet will push. NFL bets on regular-season games can end in ties, while soccer games that end in draws will push a moneyline bet as long as a draw was not one of the betting options (it typically is).
The vast majority of the time, however, a moneyline wager will result in a win or loss. That being said, for soccer and others sports, it's important to look at the rules of whichever sportsbook you're using. For example. FanDuel Maryland may have different tie/draw rules than others.
Calculating Payouts On Moneyline Odds
Every game features two moneylines. One team is the favorite and given minus moneyline odds, while underdogs are given plus moneyline odds. We'll discuss what each means so bettors know exactly what they're wagering and what their potential payout is if they win.
Note: Some operators such as DraftKings Maryland will calculate odds for you. Simply enter your wager amount into the bet slip, and it will calculate what you will win.
Minus Odds (-)
The favorite in each matchup is given a minus sign, meaning bettors must wager that amount of money to earn a $100 profit: -450 odds require a $450 bet; -1000 odds require a $1000 bet; -120 odds require a $120 bet. While bettors must wager more money upfront, it's because these favorites are expected to win and do not need to cover a spread of any kind.
Plus Odds (+)
Underdogs are given plus moneyline odds, meaning a $100 bet would yield that moneyline's total if the underdog wins the matchup: +300 odds means a $300 profit; +550 odds means a $550 profit; +1200 odds means a $1200 profit. While the payouts are higher, it's only because that team is expected to lose the contest and the moneyline requires them to win the game outright, not simply cover the spread.
It's rare, but there are times when oddsmakers don't give an edge to two evenly matched teams and both are given -110 odds or one will get +100 odds. These even moneyline odds are sometimes used for promotional purposes, too, where the favorites' odds are boosted to +100. In these cases, a $100 bet would yield $100 profit on the winner.
The NFL is one of the country's most popular sports, so it's no surprise that moneyline betting is extremely popular every Sunday in the fall and winter. Home teams and quarterback matchups are the biggest indicators here.
An example of an NFL moneyline bet: If the Ravens had +150 moneyline odds on the road against the Pittsburgh Steelers, a $100 bet on them to win would yield a $150 payout.
Backdoor covers on late-game free throws and meaningless garbage time buckets can make betting the spread a frustrating experience for basketball bettors. Luckily the moneyline bet on NBA gamesonly cares about which team wins the game.
An example of an NBA moneyline bet: If the Wizards had -300 moneyline odds against the Chicago Bulls, bettors would need to place $300 down to win $100.
There are more "upsets" in the MLB than in any other sport, making moneyline betting on MLB more difficult than in other sports. Starting pitching matchups are the most important consideration when placing these bets, as well as potential rest for star players.
An example of MLB moneyline bet: A $100 bet on the Baltimore Orioles' +175 odds to upset the favored Chicago White Sox would net $175.
Empty-net goals at the end of NHL games can make betting the 1.5-goal puckline more difficult than some other sports. It's why wagering on the moneyline continues to be an enticing option among NHL betting fans. Starting goaltenders and injury updates can swing the moneyline considerably, so it's critical for bettors to do their homework before placing bets.
An example of an NHL moneyline bet: The Washington Capitals, at -200 moneyline odds to beat the Philadelphia Flyers, would require putting down $200 to win $100.
Moneyline Parlay Bets
While point spreads and totals often have similar odds between -105 and -115, moneyline bets feature a wide range of odds that can add considerable value to a parlay.
While it requires an investment to bet on teams with moneyline odds of -200, -350 and -550 (you'd need to put $1,100 down to win $300), combining those moneylines into a parlay would create +127 odds on your bet slip, meaning bettors would need to bet $100 to win $127. Of course, all three teams would need to win their games for the parlay bet to be successful.
How Is Moneyline Related To A Spread Bet?
There is a distinct difference between moneylines and spread, but the two types of bets are also similar in many ways. Each matchup features a favorite and an underdog. The favorite is given minus moneyline odds (-320, for example), meaning a better must wager that amount of money ($320) to win $100. The favorite's point spread is also a negative number (-7.5, for example), meaning points at the end of the game are subtracted from that team's total to determine if they covered the spread.
Conversely, underdogs are given plus moneyline odds such as +220, meaning a bettor that places a $100 wager on the team to win receives a payout of $220. Likewise, the underdog's point spread is a positive number such as +3.5, meaning that number of points is added to the team's total at the end of the contest to determine whether it covered the spread.
What is Moneyline Betting FAQ
A moneyline wager is a bet on which team will win the matchup. The point spread and game total do not factor into the bet. Each game features a favorite (designated with minus odds) and an underdog (designated with plus odds).
A +200 moneyline means a bettor who wagers $100 will win $200 (plus the original bet back) if that team wins the game outright.
A moneyline pays out based of $100: If you bet the favorite, the odds indicate how much you must bet to win $100; if you bet the underdog, the odds indicate how much you would win on a $100 bet. The total payout would be the initial stake plus your profit.
The point spread is a number determined by oddsmakers that essentially evens the playing field (and payout odds) between two teams, whereas the moneyline is only focused on the outright winner of the game.
Yes, moneyline betting is one of the most popular forms of building a parlay. All major sportsbooks allow moneylines to be included in parlays.