How to place a Moneyline bet in Ohio
Staff Last updated: Whatever events you want to bet on, moneyline betting is a must-have option for all sports bettors. It’s the most common way to bet on sports.
In this guide, we’ll review everything you need to know to value and place moneyline bets at Ohio sportsbooks.
- Moneyline bets Ohio 2024
- What is a moneyline bet in OH?
- Workings of Ohio Moneyline bets
- The process to bet on the Moneyline in Ohio
- Moneyline bets to use on games in Ohio
- Operators to use for moneyline bets in Ohio
- Moneyline Betting Results in Ohio
- Most common moneyline betting mistakes
- Assessing Moneyline Odds Payouts
- FAQ Moneyline betting in Ohio
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What is a moneyline bet in OH?
A moneyline bet is simple—you’re simply picking a winner. There’s no need to be concerned about points or backdoor coverings.
If you wish to bet on a side, some games only lend themselves to moneylines. Hockey, baseball, and soccer all belong to this group. Individual sports such as tennis, golf, and MMA are also ideal for moneyline wagers.
Concept of moneyline bets in Ohio
When you place a moneyline bet, select the club or player you believe will win the matchup. Ohio sports betting sites set odds based on the estimated likelihood of a team winning its respective matchup. Based on pertinent news and how the public wagers, the odds will change in the days leading up to the competition.
So, how exactly do moneyline bets work? Nothing matters more than who wins the match when betting on the moneyline. The winning margin and overall points scored are irrelevant.
Workings of Ohio Moneyline bets
Moneyline betting applies to almost every sports competition. In an NFL game, for instance, a point spread levels out the chances. A prime example is the Bengals -6 over the Pittsburgh Steelers, when each side has a value of -120. That implies that whatever side you wager on, you must risk $120 to win $100.
Instead of a point spread, you risk varying sums of money based on which group you bet with moneylines. In this case, the Bengals could be -150, and the Steelers could be +130. That implies you have to bet $150 on the Bengals to win $100 or risk $100 on the Steelers to win $130.
While betting, the favorite
The moneyline favorites odds are often negative. The odds for favorites always have a minus (-) symbol in front of them, indicating how much money you must risk for winning $100.
That implies you’ll always have to bet more than you think you’ll win if the favorite wins. If you see -140 on the Cleveland Guardians, for instance, you must risk $140 to gain $100 if the Guardians emerge victorious. The bigger the favorite, the smaller the negative number. That implies a -230 favorite has a better chance of winning than a -140 favorite.
While betting, the underdogs
Underdogs typically have positive odds but might sometimes have less negative odds than the favorites. Underdog odds always have a plus (+) symbol in front of them, indicating how much money you’ll win for every $100 staked.
So, if the contest is close to equal, you may see something like Bengals -125, Browns -115. That implies that the Bengals are modest favorites, but because bookies retain “juice,” both teams have negative odds. However, Underdogs have positive odds. A positive odds underdog is the Reds +160 vs. the Brewers. If the Reds win, a $100 bet will return $160.
The process to bet on the Moneyline in Ohio
Moneyline odds are available alongside point spreads and totals in the leading Ohio mobile betting apps. Go to the game in question, and you’ll find moneyline options. Then, choose a side, determine how much funds you are willing to stake, and fill out the betting slip.
Two-way moneyline bets in Ohio
It is a type of moneyline in which the only two options are the game’s sides. There are no options for a tie or overtime bet. The Bengals -130, Browns +110 moneyline bet has the Browns as the moneyline favorites.
Three-way moneyline bets in Ohio
This type of Moneyline adds another bet choice to the list, typically a wager on a tie or draw. A 60-minute choice on an NHL moneyline allows you to wager on either team or a tie at the end of regulation. Soccer games always have three-way moneylines, and draws are typical. In soccer games that go to additional time after 90 minutes, you’ll even notice Three-Way 90-minute moneylines.
Beginners moneyline
All bets have a risk associated with them. Moneylines are not secure or riskier than any other type of bet. You also can lose your gambling stake. Beginners should control their risk by betting small amounts at first, especially with moneylines, and considering the regularity with which favorites win.
Operators to use for moneyline bets in Ohio
Caesars Sportsbook
This sportsbook is a fresh and revamped sports gambling forum following the 2021 purchase of William Hill. Caesars’ existing online sportsbook is growing its presence due to the transition. Its betting options include numerous minor and major sports.
Using Caesars Sportsbook Ohio, you can place moneyline bets, futures, player and team props, parlays, teasers, and round robins. Caesars’ futures bets speak out for their competitor’s odds.
BetMGM
The BetMGM Ohio sportsbook is MGM Resorts’ unique sports betting partner nationwide, digitally, and in MGM’s brick-mortar casinos.
With real-time betting odds, advanced offers, and various wagering formats ranging from moneyline and point spread bets to parlays and futures, the BetMGM sportsbook app opens you up to the sports you love.
There are also plenty of live betting and player prop markets available.
FanDuel
This sportsbook has established itself as a leading sports betting destination. FanDuel Ohio Sportsbook provides a broad array of betting markets, competitive odds, and an easy-to-use platform for placing bets.
Also, FanDuel Sportsbook offers numerous ways to win if you like to bet spreads, moneylines, teasers, props, parlays, or other betting choices.
Betfred
The Sportsbook is a bookmaker with a base in the United Kingdom that has gradually expanded its services. A man named Fred founded Betfred, and it has become one of the world’s most popular and respectable sportsbooks.
Also, Betfred Ohio provides a wide range of available bet types, such as moneylines, parlays, teasers, futures, and so on.
Moneyline Betting Results in Ohio
With moneyline bets, there are only three possible outcomes. It’s either winning, losing, or a tie (draw) in the bet.
Win
Assume you wager $100 on the Ohio State Buckeyes to win over the Wolverines at +140 odds. If the Buckeyes win, you’ll receive $140. Alternatively, if you backed the Wolverines at -160 against Ohio, you would earn $100 but would have had to wager $160.
Lose
As predicted above, if the Buckeyes lose to the Wolverines, you will lose $100. If Ohio wins, your $160 bet on the favored Wolverines is lost.
Draw
In sports betting, a draw is known as a “push.” It usually appears in a point spread and total bets, but it can also appear on a moneyline wager if the match is a two-way moneyline and finishes in a tie. Assume you bet on a Cleveland Browns game with a two-way moneyline, and they tie. If this happens, the wager is canceled, and you receive your wager back.
Most common moneyline betting mistakes
Even while moneyline betting appears to be basic and uncomplicated, several typical mistakes sports bettors make.
Here are some common mistakes
- Be wary of spending too much money on a solid favorite. While it may appear evident that a team will win a particular game, the odds consider this.
- If you wager on a team as a -250 favorite, you should understand that to be a winning bettor laying that much money, you must win three out of every four bets. So, if you lose one wager at such odds, you’d have to win three consecutively to make a profit.
- Moneyline parlays are another common blunder made by sports gamblers. Parlays may appear to give inflated payments.
- Choosing just one winner, on the other hand, is difficult. A parlay requires you to pick many winners, each of which must be right.
- If you make a five-leg parlay and four of your teams win while only one loses, your parlay is a loss. However, if you had made all five of those bets individually, you would have made a tidy profit.
Assessing Moneyline Odds Payouts
A formula can determine the implied odds of a moneyline bet at your online sportsbook if the odds are positive or negative.
Positive odds
The positive odds indicate that you will win more than ever lose. For instance, if the Buckeyes are +160 against Tampa Bay, a $100 bet would win $160, for a sum of $260 if the Buckeyes win. Use the below formula for determining the implied odds:
- 100/(100 + Positive Odds)
As a result of the previous example, the implied odds on the Buckeyes are 100/(100+160). It’s an excellent bet to position if the Buckeyes have a more than 40% chance of winning.
Negative odds
The negative odds, on the other hand, require you to risk more than you stand to win. Assume the Reds are valued at -175, which means a $100 bet would win $57, for a total of $157 if the Reds win. The implied odds formulae are as follows:
- Negative Odds/(Neg. Odds – 100)
The Chief has implied odds are thus -160/(-160 – 100), or 61.9%. They must have a better than 61.9% chance of winning to bet with a positive expected profit on the Chief.
Even odds
The even odds are exactly what they sound like. You win $100 if you bet $100. On American-style wagering lines, it is denoted as +100. To bet on an even moneyline, you must believe your group has a better than 50% chance of winning.
More betting types in Ohio:
FAQ Moneyline betting in Ohio
Which sports can you bet the moneylines
There are various sports on which one can place moneyline bets. These include sports like football, baseball, basketball, hockey, and more.
What is the best way to win a moneyline bet?
Playing the moneyline is the same as selecting a team to win the game outright (favorite or underdog). You win your bet if the team you pick wins the match outright. If your team loses, you lose your bet.
What happens if you wager/bet $100 on +120 Moneyline
If you bet $100 at +120, you win $120 if your team wins the match.
What is a moneyline payout?
To determine a moneyline payout, consider this: With “-” odds, that number associated is what you must wager to win $100. For “+” odds, you’ll win that amount of money with a successful $100 wager.