In this article, we will learn about one of the most basic yet mildly confusing bets sportsbooks offer, the moneyline odds in Maryland. More specifically, we discuss how a moneyline works, real-life examples, pros and cons, and FAQs. With the help of this article, you will be able to wager on the moneyline more confidently to hopefully win some money.
The Moneyline explained
When you wager on the moneyline, you pick a team that you think will win. Though the wager is easy, the payout isn’t as intuitive, but it gets easier with time. To hopefully make the most from your bets, check out the point spread and selectively choose the favorite and underdog depending on the game.
Best sportsbooks in Maryland for Moneyline bets
If you think moneyline odds in Maryland are right for you, it’s time to find a sportsbook to bet on. Here is a list and quick overview of the most popular Maryland sportsbooks that offer moneyline bets:
BetMGM MD Moneyline Betting
BetMGM is our favorite sportsbook for moneyline betting. It offers accurate and comprehensive odds. Beginners will especially like this option because it offers a guide for wagering on the moneyline on both the app and website.
Fanduel MD Moneyline Betting
Fanduel is another site we love for online moneyline bets. It offers an intuitive and useful app that is great for beginners and experienced users alike. Not to mention, the odds are pretty on the nose.
Pointsbet MD Moneyline Betting
Pointsbet is a good sportsbook if you are not interested in live betting. Its odds are pretty good, though some can be below average when comparing them to other sites. Those who want live betting need to pick a different site, though.
DraftKings MD Moneyline Betting
DraftKings is a favorite for moneyline betting around the globe. The website is not very intuitive, which can be frustrating, but the odds are some of the best around. That makes the poor site more tolerable.
Barstool Sportsbook MD Moneyline Betting
Barstool Sportsbooks is a good choice for moneyline betting if you want to make moneyline parlays. The app comes with a Quick Pick 6 parlay builder that offers an easy and more informed way of picking your parlays. The one thing we don’t like about this site is that its odds are below average.
How does a Moneyline work?
A moneyline bet is considered the most straightforward wager you can make in sports betting. It involves picking between the two or three teams or players and betting on them to win. If you choose the correct outcome, you win. If not, you lose the bet. Simply put: pick the winner and win!
Because wagering moneyline bets is so easy, many new bettors make the mistake of betting it all on the most favorable team. Unfortunately, this strategy causes them to spend a lot for little rewards, if any at all. That’s because understanding payment of moneyline odds in Maryland is a bit confusing, whereas the wager itself is easy.
Because moneyline bet payments aren’t straightforward, they warrant more discussion. When you go to pick the team to win, you will have two options to choose from: the favorite or underdog. For games where the teams are virtually the same in terms of the likelihood of winning, there will be a third option. Let’s focus on the favorites and underdogs first.
For the favorite team, you will see a number beside its name with a negative sign in front of it (i.e., -150). The underdog team will have a number too, but the number will be accompanied by a positive sign (i.e., +150).
What the numbers tell us
These numbers tell you how much you have to bet in order to win a certain amount based on a $100 wager. By the way, you don’t have to bet $100 in either case. $100 bets just make the math simpler for the explanation.
Let’s take a look. For the favorite team, the number tells you how much you have to bet in order to win $100. For example, you would have to bet $150 to win $100, resulting in a total $250 payout if the favorite had -150 odds.
The opposite is true for the underdog. The number tells you how much you will win if you bet $100. If the team has an odd of +150, you will win $150 if you bet $100.
With this in mind, you have to bet more when betting on the favorite, putting more on the line, but they are more likely to win. Conversely, with the underdog, you put less on the line and can possibly have a bigger payout, but they are less likely to win.
Moneyline sports betting example
Moneyline bets make more sense with an actual example. Let’s pretend that the Baltimore Orioles are playing the Toronto Blue Jays. The Toronto Blue Jays are the favorite with -263, and the Baltimore Orioles are the underdog with +215.
If you are a big Orioles fan, you bet $100. If the Orioles win, you win $215, resulting in a $315 total payout. As the underdog, they may lose, though. If that’s the case, you are out $100.
Conversely, you need to bet $215 if you want to bet on the Blue Jays and win $100. If they win, you get $100, a total payout of $215. If they lose, you are out of $215.
Whenever you are making your moneyline wagers, we recommend using a moneyline calculator so you know much you will win before. This is especially true with parlays. A moneyline parlay calculator can help you not waste too much money when there are very few possible winnings.
We have already mentioned that there is a third option: +100. This third option is whenever the two teams playing are so similar in players and skills that it is impossible to pick a favorite and an underdog. When this happens, you will receive the same amount of money that you bet. So, you would win $100 if you bet $100. It’s pretty simple.
Best sports for Moneyline
Here are popular Maryland sports for moneyline wagers:
- Moneyline NFL
- Moneyline NBA
- Moneyline MLB
- Moneyline MMA
What about ties?
Sports that can end in a tie are less popular for moneyline bets, but you can find them on certain sportsbooks.
Some sportsbooks will offer a tie option, but most will not. If you do not have a draw option, you will have to pick between the two teams, even if the game can end in a tie. In the case that the game ends in a draw, the sportsbook will likely refund you your wager.
Moneyline vs Spread
Moneyline wagers do not have a point spread, but there is a connection between the two. Therefore, it would be helpful to look at the spread before betting on the moneyline if you want your best chances at winning and winning big, for that matter.
Most importantly, you will get a bigger payout if you bet on the favorite that is only the favorite by a few points. For example, you would win more if you bet on a team with a 3 point favorite than a team with a 7 point favorite. The reason for this is that the 7 point favorite has next to no chance of losing.
Whenever there is a very heavy favorite in favor of one team, many sportsbooks will not offer a moneyline bet. For example, most sportsbooks will remove the moneyline bet if an NBA game has a 10 point favorite.
If you were to bet on the underdog in games where the two teams are separated by a large point margin, you could win big time. However, it is very unlikely that you will win in this case. Still, upsets can and do happen.
Are Moneyline bets right for me?
Moneyline bets are one of the most common sports betting options, but they are not right for everyone. Moneyline wagers are great if there is a somewhat close game, and the underdog may win. It is also a great choice if you are looking for a bet that is easy to wager.
However, moneyline odds in Maryland are not ideal if you want to hit it big. Since you win less when picking the favorites, you have to bet a whole lot of money to hit it big. Unfortunately, many new bettors do not realize this fact at first, causing them to bet a lot of money with little reward.
- Easy wagers
- Available on most sportsbooks
- Common in the most popular Maryland sports
- Hard to hit big wins
- It can be a bit confusing at first
FAQ’s About Moneyline odds Maryland
Should I bet on the favorite?
To maximize your earnings, you should alternate between picking between the favorite and the underdog, based on the game. Checking out the point spread can help you determine which team you should bet on so that you can hopefully bet less money while receiving more earnings if you win.
Can I make a parlay?
Yes. You can make a parlay with moneyline bets. You will need to select a lineup of games and select the winner for each.
Can you make both moneyline and spread bets in a parlay?
Yes. You can put both money and spread bets in parlays. The potential payout will be based on the pricing of the spread bets.
Do the prices of moneyline bets differ on various sportsbooks?
Yes. Prices vary from site to site. In fact, the prices can vary dramatically. You might want to check out different Maryland online sportsbooks before making a bet on one.
Are moneyline wagers good bets?
Moneyline bets are good if you strategize properly. Picking a winner and loser at random is not enough, even for games where there is a clear favorite.