Sportsbook betting on the money line is often regarded as the simplest form of sportsbook betting because one simply must predict the outright winner of an event. However, the key to handicapping money line odds is evaluating the prices associated with each side. Only by combining this evaluation with an assessment of each side’s chances of winning can one truly find value in money line sportsbook odds.
Sportsbook betting on the money line is common when wagering on popular sports like football and basketball, although most sportsbook members tend to wager on sides instead. Nevertheless, the money line receives the majority of a sportsbook’s action for sports like MMA or boxing. Therefore, regardless of which sport you prefer to wager on, it is important to understand the ins and outs of handicapping money line sportsbook odds. The most common mistake that sportsbook bettors make when wagering on the money line is that they wager almost exclusively on the favorite. Such is the case because the bettors simply wager on the team that seems most likely to win a matchup outright. However, this sportsbook betting strategy is unwise because of the risk one must assume when wagering on favorites with the money line.
In order to handicap money line odds successfully one must not only consider which team will likely win a matchup, but also the probability with which a team will win a matchup. For instance, there is a big difference between a game in which one thinks the favorite has a 55% chance of winning and a game in which one thinks the favorite has a 95% chance of winning. Once one has determined this probability, it must be compared with the money line sportsbook odds to reveal where the best value lies. For example, if a sportsbook lists the favorite with a price of -200 and you believe the team only has a 55% chance of winning then betting on the sportsbook’s underdog will actually offer the best value.
On the other hand, if the favorite has a price of -200 and you believe the team has a 95% chance of winning then it is worthwhile to wager on the favorite. Additionally, when sportsbook bettors wager on the money line they must remember that there is no such thing as a guaranteed winner in professional sports. Even if the best team is playing the worst team, there is always a chance that the underdog will end up defying the sportsbook odds and winning outright. Therefore, when sportsbook bettors wager on big favorites the bettors should always remember that even though the wagers have a high probability of paying out, they are not guaranteed to do so.
Open a New Account and start betting on sports at SBG Global