By Larry Rupp
The online sports gambling industry is continuing to boom across the United States. According to the Legal Sports Report, Americans have wagered more than $65 billion on sports since the Supreme Court struck down the federal ban on state authorization of sports betting back in 2018.
New styles of betting such as player props and same-game parlays seem to be getting introduced every month, but it is the traditional bets that still reign supreme. It’s important to understand these two kinds of options before exploring how much the market truly has to offer.
With that in mind, let’s take a look at the difference between wagering on moneylines vs. spreads.
Betting on Moneylines
Betting on the moneyline is considered one of the most basic aspects of the industry. Bettors are simply laying money down on which team they believe will win in any given matchup.
The main advantage of keying in on this part of the betting market is not having to worry about how many points the team wins by as long as they are on top when it is all over. On the other side, the biggest disadvantage of betting moneylines is the usual minimal payout. Betting on teams that are expected to win will not pay out as much as betting on teams that are expected to lose.
For example, the Atlanta Falcons have odds set at -130 to defeat the Carolina Panthers in Week 8, according to DraftKings Sportbook. Bettors would have to place a $130 wager on Atlanta in order to win $100. Meanwhile, betting $100 on the Panthers to win at +150 odds would earn $150.
It can be a tricky situation to maneuver, which is why many bettors enjoy placing wagers against the spread instead.
Betting on Spreads
Betting against the spread involves a little bit more risk, but presents a much better opportunity to win money in the long run. The spread is defined as the margin of victory in any given sporting event. That could include runs in a baseball game or points on a basketball scoreboard.
The best way to take it all in is with an example. Let’s say the Chicago Bulls are 6.5 point favorites against the Washington Wizards with odds set at -110. That means a bettor placing a $110 wager on Chicago would need them to win by 7 or more points in order to win $100. If the Bulls win by anything less than 7 or lose the game outright, the bet becomes a loss.
Nearly every spread bet will have odds set right around -110 and is supposed to be seen as a 50/50 shot. It gives bettors a way to predict how much a certain sports team will win or lose by.
In the end, the moneyline and the spread work side by side, and placing a wager on either one can be a great way for new bettors to get their feet wet. After all, scared money doesn’t make money.
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