If you watch sports on TV or in the arena you probably have seen or heard of Betway.
Despite the fact🏀 the online sportsbook is only available in a handful of states, it is a household name due to its aggressive🏀 in-arena/stadium marketing push that makes its name clearly visible at almost every professional sporting event.
If you’re in one of the🏀 states where Betway is legal and have been curious about placing wagers with the book, don’t be intimidated. Seize the🏀 day and take advantage of the collection of wagers the sportsbook has to offer.
Here’s a crash course on how to🏀 bet moneylines at Betway.
How to Bet Moneylines on Betway
Step 1: Create an Account or Sign In
You need an account in🏀 order to play with Betway. If you have an account be sure to sign in. If you don’t, sign up🏀 clicking on our custom link on our Betway full review page, if necessary, to unlock the best new-player offer.
Remember all🏀 sensitive information is secure and is requested only to affirm your identity.
Step 2: Deposit
Put your money into your Betway account.🏀 Betway accepts all kinds of depositing options like PayPal, PayNearMe, e-check, ACH and credit card in every state except New🏀 Jersey.
Keep in mind that Betway will not let you withdraw funds via credit card, meaning if you insert your money🏀 via that method it is likely you’ll need to deposit with PayPal or ACH in order to withdraw in that🏀 fashion.
Step 3: Peruse Betting Markets
Betway offers odds and lines on more than 2,000 sporting events per week, which means there🏀 is no shortage of moneyline wagers to make with the sportsbook.
Step 4: Place Your Bet
Find the moneyline bet you wish🏀 to make. Enter the amount you wish to wager. Press “Place Bet."
Step 5: Root For Your Bet to Hit
Cheer on🏀 your team and hope it wins!
What Does Moneyline Mean on Betway?
Moneyline bets are the simplest types of wager. In a🏀 moneyline bet, users are simply asked to determine who will win a game or match taking place. Sportsbooks assign odds🏀 for the favorite and underdog based on how likely they are to win, and those odds also dictate the amount🏀 of profit a bettor will make on a successful moneyline bet.
If the Green Bay Packers are a -210 moneyline favorite🏀 in a game against the Chicago Bears, and Chicago is a +170 underdog, that means Green Bay bettors would have🏀 to wagerR$210 to netR$100 in profit. A Bears moneyline bet would earn a bettorR$170 profit on aR$100 bet.
If the next🏀 week the Packers are a +150 underdog while playing the Dallas Cowboys, and Dallas is a -190 favorite, that means🏀 aR$100 wager on the Packers would netR$150 in profit, and aR$190 bet on Dallas would be required to fetch aR$100🏀 profit.
Betway Moneyline Rules
There aren’t too many rules for moneyline bets at Betway, but here’s the major one:
Pushes: A bet is🏀 voided if a bettor wagers on a team in a two-way wager and it is a draw. For instance, if🏀 a bettor places a two-way soccer bet (draw-no-bet), a traditional NFL moneyline bet, an MMA two-way bet or boxing bet,🏀 and the game/match ends in a draw, the bet is voided and the gambler receives his/her initial stake.
A bet is🏀 voided if a bettor wagers on a team in a two-way wager and it is a draw. For instance, if🏀 a bettor places a two-way soccer bet (draw-no-bet), a traditional NFL moneyline bet, an MMA two-way bet or boxing bet,🏀 and the game/match ends in a draw, the bet is voided and the gambler receives his/her initial stake. Official Game🏀 Pushes: If a game is not completed and not suspended and is called off either due to weather or other🏀 factors, a moneyline bet will also be voided and the bettor’s initial stake is returned.
Moneyline vs Spread
Moneyline betting, again, is🏀 simply determining which team or athlete will win the game or match at hand. In spread betting, sportsbooks will predetermine🏀 a number that the favorite would need to win by, or cover, and assign more lucrative odds for betting. Bettors🏀 can wager on if the underdog will lose by fewer than the predetermined number in an effort to draw more🏀 action to underdogs who may not stand a chance of winning outright.
There are crucial differences in wagering moneylines vs. spreads.🏀 For instance, a favorite often wins outright but does not cover the spread, especially in games where a team is🏀 a double-digit point favorite, since coaches only care about playing to win and don’t play to cover the spread.
Still, there🏀 are times where betting the spread is a more favorable play. We do not advocate betting moneyline odds that are🏀 -150 or longer, since the juice isn’t worth the squeeze so to speak, but would advocate bettors wager on a🏀 favorite to cover 2.5 points in that instance since a small spread is worth cashing in on since teams that🏀 win typically do so by more than two points.
Underdog vs Favorite
Most moneyline underdogs and favorites are easy to tell, especially🏀 if you’re a sports fan following the league you’re wagering. But underdogs are typically the team assigned plus-money odds, since🏀 those pay out more in profit to wagerers, and favorites will typically be given minus-money odds.
There are times when both🏀 teams will have minus-money odds, but those are usually reserved for games and matches played either at neutral sites or🏀 ones that appear extremely close on paper.
The favorite often will also have a minus number in the spread line —🏀 -1.5, -2.5, -7, etc.,
Betway NFL Moneylines
Betway is an elite option for NFL moneyline wagering. Betway offers moneyline odds for every🏀 NFL game, from the preseason to the Super Bowl, and gives competitive odds so bettors can get the most bang🏀 for their buck each week.
Betway will also curate multi-leg moneyline parlays, like wagering on three teams to each win one🏀 Sunday, and boost the odds so bettors who cash in can get even more profit.
Super Bowl
Betway is an excellent option🏀 for Super Bowl betting, especially moneyline wagers on the big game. Betway gives users futures, like which team will win🏀 the Super Bowl and which team will win the AFC and NFC, while also providing competitive odds and lines for🏀 big-game betting.
Moneyline Bet Strategies
The best strategy for moneyline betting is to do your homework and take advantage of value. Whether🏀 that is from shopping across sportsbook options for best odds or whether that is from market inefficiencies. Like favorable moneyline🏀 odds for a road favorite or a home underdog, that doesn’t seem to make sense then mash it.
I like to🏀 wager on home underdogs in the NBA, since home teams in basketball typically have a distinct advantage. I peruse moneyline🏀 markets and find the ones that don’t seem to make sense, even if they are for small profits like +120,🏀 then reap the rewards when the home team wins.
Do your homework and don’t be afraid to take risks — this🏀 is gambling, after all. If a key player is likely to miss an important game, bet the opponent while the🏀 odds are still favorable and before the marquee player is ruled out.
Also take advantage of boosted-odds wagers you were planning🏀 to place anyway. For instance, if the team you want to bet is boosted to +100 from -120, that’s aR$0.17🏀 profit increase for everyR$1 wagered, and you were planning on making that bet anyway.
Moneyline Betting for Beginners
Start small. Place wagers🏀 on games you really think will hit and monitor what happens. If your bet is successful try wagering a bit🏀 more. Maybe create a two-leg, moneyline parlay. Before you know it, you’ll be a pro gambling round robins and teasers🏀 with the best of them.
Betway is a great option for those dipping their toes into sports betting. It has a🏀 leg up on the competition in terms of its new-player bonus because it is a risk-free bet that reimburses in🏀 site credit if it doesn’t hit. That means if you placeR$100 on your first wager and it doesn’t hit, you’ll🏀 getR$100 back in playable funds that can be used for as long as it is there.
How to Calculate Moneyline Odds?
As🏀 alluded to above, moneyline odds are dependent on how likely the favorite and underdog are to win. A moneyline bet🏀 with -120 odds will fetchR$0.83 in profit for everyR$1 wagered. A -200 moneyline bet will netR$0.50 on everyR$1 bet. A🏀 -450 moneyline wager will netR$0.22 for everyR$1 gambled and so on.
Plus-money odds are far easier to calculate, since a bettor🏀 can simply divide down to determine how profit will pay out. A +170 odds bet will pay outR$1.70 for everyR$1🏀 bet. +200 isR$2 for everyR$1. And so on.
Every winning bet pays out stake + profit, as long as a free🏀 bet isn’t used, and Betway, like most sportsbooks, will give users the exact payout amount for your wager before you🏀 place it.
Why Are Moneylines a Good Bet?
Moneylines are easy! You simply place the wager on whether the team you believe🏀 will win does or not and reap the reward if/when it does. There’s no caveats added or spreads to cover.🏀 Teams play to win, and when you’re a moneyline bettor, you win when they do — even if it’s in🏀 overtime, or by a single point.
Can Moneylines Be a Bad Bet?
When the odds aren’t favorable enough, yeah. You end up🏀 betting more to max out your payout when the odds aren’t lucrative enough, since few people truly want to profitR$5🏀 on aR$10 bet, and -200 favorites often lose. Teams that have shorter moneyline odds sometimes lose.
It’s not fun to lose🏀 a moneyline bet. It’s especially not fun to lose a moneyline bet where the payout would be less thanR$0.50 on🏀 the dollar.
What Sports Are Available for Moneylines?
Any sport that has games or matches. Soccer will have three-way moneylines, since there🏀 are three results (win, lose, draw), but the rest will typically be two-way moneyline odds, even though ties are possible🏀 in the NFL.
Is There Bet Insurance on Moneylines?
When you place your initial risk-free bet on a moneyline wager there will🏀 be bet insurance. Sometimes Betway will offer promos like parlay insurance, and if you have a moneyline leg there you🏀 could get your money back. But more often, there isn’t insurance on Betway.
