What Are Moneyline Bet?
A moneyline bet is a type of sports betting market where you wager on the outcome of a match. There are three options that you can use when placing such bets. Those are the following:
- The home team to win (1)
- The away team to win (2)
- The match to end in a draw (X)
It doesn’t matter how a team wins, by how many goals, points, or runs. Also, it is irrelevant how long it would take them to win the match. All that it is important is the end result, where they must win the match.
The same goes with the draw moneyline bets, where the number of goals and timeframe are not decisive factors. Moneyline is the simplest way of sports betting that is available to every Nigerian bookmaker.
You can find it in every available sport, from football and basketball to darts and badminton. Sportsbooks that offer special events such as political elections or competitive shows, make sure to include moneyline bets.
Players can either place one or multiple moneyline bets on a single bet slip. It goes without saying that combining several wagers will get you a higher payout. However, it will also increase the risk of losing the bet. The ones that wager on multiple moneyline bets are usually betting with a lower amount.
But, it is worth noting that many punters like to place single moneyline bets. They usually put a higher bet amount to win a bigger payout.
Why Punters Should Do Moneyline Bets?
There are several reasons that you should place moneyline bets at Nigerian bookmakers. First of all, it is the simplest way of sports wagering that you can find in every sportsbook. You just pick a match and decide whether to back the home or away team or maybe bet on a draw.
It is the best way for beginners to start off at a sportsbook. All that they need to know are the three outcomes of the match and they can begin their betting journey.
If you have a big budget then you can place single moneyline bets and collect a decent payout. Here, you are only wagering on the outcome of one match. In a way, it is much better than betting on multiple selections. However, remember that you can also lose the wager.
Yet, placing multiple moneyline bets will get you a much bigger payout while also placing a lower amount. As good as it looks, it is still much harder to guess the outcome of several matches.
Additionally, you will also find the moneyline bets as a part of the live betting markets. They give you a chance to see how the match unfolds, before deciding on the type of moneyline.
Maximize Your Advantages With Moneyline Bets
To maximize the benefits of sports betting with moneyline bets, you will need to know a few things. First of all, use these types of markets only when you are certain about the end result. Make thorough research before concluding the wager, regardless of the sport and event.
If you are willing to spend a bigger amount on a moneyline bet, then make sure to wager on the favourite. The underdogs might bring you a bigger payout, but the chances of them winning are often very low.
But, be careful as nothing is certain in the world of sports. Almost every week, you can find a favourite that will fail to win a match.
The moneyline bets are also giving you a chance to materialize on the underdogs. Look for a favourite that has a bad form and an underdog that is in good shape. Betting on such teams comes with a big payout, as the odds tend to be bigger.
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You are also free to place moneyline bets even with a smaller amount. However, make sure to include selections that you are certain will provide the desired outcome. This type of betting will bring you a good payout, while also spending less money.
Another way to maximize your betting advantages is by using boosters and enhanced odds. Nigerian bookmakers offer these promos to make the odds bigger.
This means that your potential payouts will also increase. Look for the matches that feature the boosters and determine whether they are worth wagering on.
Moneyline Bets Betting Example
Before we reveal an actual example of moneyline bets, you might need to know some additional information. To place such wagers, you must first join a top Nigerian bookmaker. All of them feature moneyline bets, but make sure that you check their licenses.
After registering an account, make sure to verify it and deposit some money. Next, access the sports section and select a sports category that you fancy.
You will find many sporting events, so make sure to analyze a few of them before you choose a match. Now, the moneyline bets are usually the first markets that you can select.
Click on one of the three moneyline odds that you like to bet on and input an amount. Last, sit back and wait for the match to end in your favour.
For example, let’s say that you want to bet on a football match between Liverpool and Tottenham. With the moneyline bets, you can wager whether Liverpool to win, Tottenham to win, or the match to end in a draw. It is as simple as that.
Whatever you choose from the three options needs to show at the end of the match. For instance, if you bet on Liverpool to win, then the team must win for you to get a payout.
Pros/Cons
Pros
- Available at every sporting and non-sporting event
- Super easy to use and understand
- Top bookmakers offer big moneyline odds
Cons
- Not a good option to bet when there is a big favourite
- Need to combine several moneyline bets to earn a good payout
- You must place a large amount when wagering on a single moneyline bet
Odds
The moneyline bet odds vary from one bookmaker to the other. All of them are using highly sophisticated software that calculates the odds based on numerous factors. Yet, some of the younger sportsbooks may offer better moneyline odds as a way to attract more punters.
Nigerian sportsbooks separate the teams into favourites and underdogs, based on the moneyline bets. The favourites come with lower odds while the underdogs have higher odds. As for the draw, it can vary depending on the event, but it usually features some pretty big odds.
Betting on the moneyline bets with bigger odds will get you a larger payout. But, it goes without saying that these types of wagers are harder to win.
Bookmakers are calculating the payout depending on the type of bet slip. If you wagering in a single moneyline bet, then the sportsbook will multiply the featured odds with your bet amount.
Placing multiple moneyline bets will get you a much bigger payout. Here, the odds from all moneyline selections multiply with each other and the bet amount. The end result will show your potential payout.
We must also mention that the moneyline odds tend to fluctuate during live sporting events. This depends on the score, the teams’ performances, and the remaining time. The winning team will get lower odds of winning, while the losing team will get increased odds.
Moneyline Bets Offers and Promotions
As the most popular betting market, Nigerian bookmakers made sure to include it in their offers and promotions. You can find super generous boosters that will significantly increase your moneyline odds. They usually feature at certain sporting events that the operator chooses.
Then there are the boosters that trigger when you place multiple moneyline bets on a single bet slip. These are unique promos that require a certain number of selections and minimum odds.
At the sportsbooks, you can find offers that give out free bets. After claiming them, you can use extra wagers on one or several moneyline bets, depending on the terms and conditions. They are a great way to earn some money without spending any of your own funds.
Some sports bonuses reward extra cash that you can use on these types of betting markets. These offers almost always require a certain deposit before you can claim the reward. But, once you get your hands on them, you can use the bonus money to generate an additional payout.
Cashback offers are also very popular with bookmakers. They are giving a portion of your moneyline losses back to you after a certain period. It is a nice gesture from the operator, as you at least lower your overall exposure.
As a newly registered punter, you can apply for a welcome bonus, which can help you start off in style. You can use the free bets or bonus money from this offer to try out the moneyline bets. Just make sure to read the terms and conditions before you apply.
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What Are the Alternatives to Moneyline Bets?
There are many alternatives to moneyline bets that you can use at the Nigerian bookmakers. One of them is the double chance bets, which are unique markets.
With double chance betting you are wagering on two of the possible three outcomes. However, the odds are significantly lower than moneyline bets. Yet, combining several of them on a bet slip will surely increase your potential payout.
Next, we have the half-time/full-time bets. These are similar to moneyline bets, but a lot harder to guess. With these betting markets, you are wagering on the outcome of the half-time as well as the full-time. Hard or not, these bets come with much bigger odds.
Then there are the handicap bets. With these markets, you are betting on a team that comes with a virtual advantage or disadvantage. For instance, you can bet on the favourite to win a match by a 2-goal margin. It is a type of bet where some of the odds are bigger than the moneyline odds.
The last that we’ll mention is the result/total goals bet. It is very similar to the moneyline bet as you bet on the outcome of the match. However, you are also wagering on the total goals scored in the match. You can choose the total goals to be over or under 2.5.
FAQ
To place a moneyline bet, you will first need to register and verify an account at a reputable Nigerian bookmaker. Then, deposit some money and access your favourite sport. There, look for an event that will draw your attention. Choose whether to back one of the teams or wager on a draw. Click on the odds, enter an amount, and conclude the bet. Finally, sit back and wait for the match to end.
Yes, it is very much possible to make moneyline bets. Every Nigerian bookmaker is offering these types of betting markets, as they are the most basic options that you can use. Make sure to find a reputable sportsbook before you make moneyline bets. Also, compare the odds, as they vary from one betting website to the other.
Yes, you can cash out a moneyline bet before the featured match actually ends. However, this feature is not available at every Nigerian bookmaker. Also, there is a timeframe where you can cash out early before it becomes unavailable. So make sure to check these details before you choose a sportsbook and start wagering.
Yes, you can use your smartphone to place moneyline bets. The top Nigerian bookmakers are utilizing the latest HMTL5 technology on their platforms. This means that you can freely access it on your Android and iOS mobile devices. Some of them also have their own mobile betting apps where you can place moneyline bets.
No, you should never expect to win every moneyline bet that you make. There are three outcomes in these betting markets, where you are only wagering on one of them. So there is always the possibility of losing a bet, even if you are backing the favourite in a match.
Responsible Gambling
You should always be aware of responsible gambling when placing sports bets. This goes with all betting markets including moneyline wagers. It might look like a super fun activity, but it can quickly become harmful if you are not careful.
Punters who place larger amounts on moneyline bets are in serious danger as they can lose a lot. The ones that place multiple wagers can experience the same troubles as they are always betting.
Make sure to be aware of gambling addiction and its harms at all times. If you experience anything like it, then make sure to reach out to an organization that helps punters overcome gambling addiction.
Reputable bookmakers are including several tools that you can use to prevent addiction. Among them are the deposit limits and self-exclusion, which are of great help.
Recap of Moneyline Bets
Moneyline bets are the simplest and oldest form of sports betting that features every Nigerian bookmaker. You can find it at any sporting and non-sporting event, which makes it a universal betting market.
With the moneyline bets, you get to choose from three basic options. Those are the home team to win, the away team to win, or a draw. They are the perfect betting markets for beginners who are just starting out with sports betting.
Experienced players are also using them for either single or multi-bets. Single moneyline bets are the favourite for big spenders, as they don’t fear losing some money. However, many punters are also placing smaller amounts on multiple moneyline selections on one bet slip.
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