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.
