The Money Line Bet Explained
The money line bet appears to be the simplest type of bet and is definitely one most beginners choose because all it entails is predicting the winner. A slightly more involved bet is the point spread bet where the winner is predicted along with the points that the winner wins by and from there the bets become more complex but not too difficult once they are understood.
When it comes to the money line bet, it is one of the most common types of bets and is always available at Canadian friendly online sports books. This is because all sporting events, tournaments, championships and games must result in a winner. Money line bets were around long before the point spread bets came about and even though the money line bet sometimes takes a backseat to the point spread betting option, it remains a common betting option on all major sports.
When to Place Money Line Bets
While the point spread bet is a great option for sports such as basketball and football, the money line bet can also be a good option but especially on sports such as hockey, boxing and baseball because the margins for winning points are quite small. It is basically an option for all of Canada’s top sports and anything else a sports bettor wishes to bet on.
No written rule exists regarding when it is best to play the money line bet or opt for another type of bet and even though this betting option appears simple, it should be placed with care because of how the odds and pay outs are determined. Placing this bet incorrectly can be costly and not as valuable as certain other betting options. The great news is that huge amounts of CA$ can possibly be won with a little bit of research and reading the odds correctly.
Understanding the Money Line Bet
American odds are used for Canadian sports bettors which means they are displayed with a plus and minus. The plus sign indicates the underdogs and the minus sign indicates the favourites to win and calculations are typically done using a CA$100 denomination.
If the odds read that one team is at +210 and the other team is at -240 it means that the underdogs need a bet of CA$100 to win CA$210 and the favourites need a bet of CA$240 to win $100.
Alternative betting options, such as point spread bets, add points to both sides to even the playing field a little more. Having to predict the score does get a little bit more tricky which is why many bettors prefer the money line bet which may cost more to get the same return that another type of bet would net.
There are many bettors in Canada who prefer to place their money line bets on the underdogs because if the underdogs win, the pay-out is far greater. This should be done with knowledge though because it may come down to how close the underdog’s performance is to the favourites and if any of the favourites have suffered injury or had any other recent issues.