The Definitive Guide to Moneyline Betting – Moneyline Betting Explained

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Updated 2 days ago on

17 min read

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The easiest way to gamble on sports, money line betting offers fans a straightforward way to profit from their sports knowledge. A money line bet allows sports fans to simply predict the winner of a match without having to worry about other factors, like the margin of victory. Sports fans can select the winner at a predetermined price set by the oddsmakers. An essential tool when single-game betting or parlay betting, money line selections can help sports bettors increase their winning percentage and overall profits.

A report by Deloitte projects the Canadian sports betting market to be worth as much as $28 billion annually. With the Safe and Regulated Sports Betting Act in effect, sports fans can cash in on moneyline betting in Canada like never before. While sports betting in Canada is regulated at the provincial level, Ontario is leading the charge toward an open and regulated market, which is expected to bring new operators to Canada before the end of 2022. 

To learn more about moneyline betting in Canada and how to sports bettors can use it to their advantage, read on below

What is Moneyline Betting?

Moneyline betting is the most common way to bet on a sporting event. Also known as a straight-up bet or straight wager, a moneyline bet involves betting on one side to win the match. The best new sportsbooks in Canada offer pre-game money line betting odds and in-play money line betting options, giving Canadians the chance to bet on the winner at any point during a match. 

To learn more about money line betting and how to use it to your advantage, read on below. 

What Is A Moneyline Bet?

A moneyline bet is a wager on the winner of the final outcome of a match. 

When placing a money line bet, sports fans do not have to concern themselves with winning the game by a certain margin of victory. Instead, bettors accept fixed odds set by the oddsmakers and place their wagers on a team or player to win the match. 

To win a money line bet, bettors must select the winner of the match, as determined by the governing body of the official sports league.

Moneyline Betting Definition

Moneyline betting is simple. Sports fans simply place a wager on one team or player to win the match. 

Unlike point spread betting, which aims to generate even odds for both sides, money line odds are assigned based on the relative strength of each opponent. This can produce substantially wider discrepancies between the money line betting odds for both sides.

Moneyline Betting Explained:

The best NBA betting sites in Canada offer several different types of moneyline betting options for every basketball game.

For this example, we’ll focus on an NBA contest between the Houston Rockets and the Boston Celtics. Boston comes into this contest favoured by -11.5 points, which translates to 1.14 odds on the money line. On the other hand, the underdog Rockets come into this matchup pegged at 6.00 odds to win the contest, generating substantially more value for moneyline bettors. 

In this case, a $100 wager on Boston to win the game would generate moneyline bettors just $14 in profits. Meanwhile, betting $100 on Houston to win would generate a total return of $600, including $500 in profits, if the Rockets were to emerge victorious. That accounts for a difference in profits of approximately 3,571 percent.

The Different Types Of Moneyline Bets

Money line bets give sports fans a realistic chance at turning their knowledge of the game into cold hard cash. With predetermined odds for both sides, bettors can simply make their selection and watch their bets come through to earn some extra cash. At the best online gambling sites in Canada, sports fans can find a number of different money line betting options, including pre-game and in-play money line odds for nearly every sporting event. 

Below, we’ll break down the different types of money line bets and how sports fans can use them to earn a profit while betting online.

Moneyline Betting In Canada

Standard moneyline betting involves a wager on one side to win the final result of a match. Sports fans can find money line betting options for every sport, including basketball, football, baseball, hockey, soccer, tennis, and more. 

When placing a money bet on the final result, bettors do not have to worry about winning the contest by a certain margin of victory.

Quarter Moneyline Betting In Canada

In addition to traditional game lines, fans can place money line bets for certain intervals during a match. Money line bets can be placed for every quarter or period, giving fans the ability to narrow down their wagers to more specific markets. When betting on quarter money line or period money line bets, sports fans can maximize their edge by betting on certain lineups or moments of the game. 

1st Half Moneyline Betting In Canada

Canadians can also place wagers on halftime money line bets. When betting on the first half moneyline, a team only has to be ahead at halftime for the bet to be settled as a winner. Most sportsbooks also offer money line odds for the first half as well as the second half. When betting on underdogs, first half money line bets can be a way to mitigate some risk if the weaker opponent can’t hold on for the win. 

Player Props Money Line Betting In Canada

For certain sports, Canadians can also find money line bets in the player props market. At times, bettors can predict whether one player will accumulate more stats than another player in a particular contest. Similar to daily fantasy sports, player props money line bets can be a fun way for sports fans to engage with their favourite teams and athletes.

Ranking The Best Moneyline Betting Sites In Canada

Want to cash in on the best moneyline betting odds and start winning real money online?

Scroll down below for a quick summary of the top 10 moneyline betting sites in Canada and what they have to offer.

  1. BodogMoneyline Betting Site In Canada With Custom Bets
  2. Sports Interaction – Canadian Sportsbook With Singe-Game Moneyline Betting
  3. PowBet – Competitive Moneyline Betting Odds And A Sports Jackpot
  4. FezBet – Great Odds And A Wide Variety Of Moneyline Betting Promotions

The Best Moneyline Betting Sites In Canada

The Safe and Regulated Sports Betting Act has opened the door for moneyline betting in Canada, where sports fans can now bet on single games and events, like the Super Bowl and Stanley Cup Finals. For the first time, Canadians will be able to legally place moneyline bets without combining them with other selections. 

While provincial gambling sites now have moneyline betting options, the best online sportsbooks offer better odds, bigger bonuses, and access to essential features, like the ability to cash out live bets.

Below, we’ll review the top five moneyline betting sites in Canada and let new users know what they have to offer to Canadian members.

1. Bodog – Moneyline Betting Site In Canada With Custom Bets 

Moneyline betting sites in Canada offer free spins and bonus cash

When it comes to moneyline betting, Bodog offers members more ways to win. At Bodog, bettors can find excellent moneyline odds for pre-game matches and in-play events or request odds for custom bets with #NameYourPlay. 

The welcome bonus offer at Bodog combines free cash and free spins to help users get the most out of their online betting experience. New members can cash in on a welcome bonus offer worth up to $400, plus 50 free spins. Bodog offers competitive odds, great bonuses, and essential features for members of all experience levels. 

Bodog Sportsbook Review –
Moneyline Betting Site In Canada With Custom Bets

Pros

Cons

✅ Competitive odds for game lines, props, and futures markets in all sports  ❌ In-play betting experience is not as smooth as top competitors
✅ Trusted brand with great features and modern design ❌ No mobile app 
✅ Welcome bonus of up to $400 plus 50 free spins
✅ Make custom bets with #NameYourPlay and Props Builder options

Welcome Bonus Offer:

Bodog offers new sports bettors a 100 percent deposit bonus of up to $400, plus 50 free spins.

To sign up to Bodog and claim your bonus offer, click below.

Explore Our Other Bet Type Guides

How To Place A Moneyline Bet

With online betting options already available in British Columbia, Ontario, and Alberta, it has never been easier to place a moneyline bet in Canada. Once Canadians have signed up to their favourite sportsbook, they can start placing money line bets and winning real money online right away. Members can find money line odds for pre-game matches and in-play events in every sports league around the world.

Below, we’ll walk Canadians through how to place a moneyline bet at the best online casinos in Canada.

Step 1: Browse Through The Betting Markets

First, Canadians will have to visit their preferred sportsbook. Once logged on, members can browse through the sports betting markets to find a list of events to bet on. Simply scan through different sports or use the search function to find various leagues and events.

Step 2: Make A Moneyline Selection

To make a moneyline bet, members must choose a side to win the match. Bettors can simply click on the odds for the team or player that they’d like to select. At most sportsbooks, clicking on the odds for a selection will automatically add the pick to the bet slip.

Step 3: Open The Bet Slip

Once members have made their selections, they are ready to review their bet slip. Many sportsbooks offer quick betting options and will automatically open the bet slip.

Step 4: Enter The Bet Amount

After members have reviewed their selections, they are ready to enter in the amount of their wager. Simply enter the bet amount in the appropriate field. When entering the bet amount, the total return or profits from the bet will be automatically generated at the bottom of the bet slip. 

Step 5: Place The Bet

Next, members are ready to submit their wager. To place the money line bet, click “Place Bet” at the bottom of the bet slip. Once the bet has been placed, members will receive confirmation with an official bet slip equipped with their stake and the total return of the wager.

Explore Our Provincial Betting Guides

Alberta Betting Sites
Unravel the online betting sites in Alberta. With full-reviews of each casino, covering the pros & cons and their current bonus codes!
Alberta Betting Sites
British Columbia Betting Sites
We're making it easier for the residents of British Columbia with our in-depth reviews of the best betting sites in BA, Canada. Read to find out more.
British Columbia Betting Sites
Manitoba Betting Sites
Second guessing the legalities behind betting online in Manitoba? Our review covers the latest legal information, the top online betting sites & so much more.
Manitoba Betting Sites
New Brunswick Betting Sites
Make the most of single-event betting with our latest review. Explore our expert-rated online casinos that are available in New Brunswick, & so much more.
New Brunswick Betting Sites
Newfoundland Betting Sites
We know that the residents of Newfoundland have a hard time when it comes to betting online. Our guide covers the latest legal information, top casinos & more.
Newfoundland Betting Sites
Northwest Territories Betting Sites
Discover how residents betting in the NWT will soon be able to take advantage of single-event wagering, online betting, live betting, and more.
Northwest Territories Betting Sites
Nova Scotia Betting Sites
It won't be long until NS residents will have access to some of the best sports betting sites in Nova Scotia. So, stay up to date with the latest information.
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Nunavut Betting Sites
Although limited, learn about the current best sportsbooks in Nunavut that are already offering single-game betting, & keep updated with the latest legalities.
Nunavut Betting Sites
Prince Edward Island Betting Sites
Explore some of Prince Edward Island's best gambling sites, the latest betting laws, bonus codes, and so much more with our latest review.
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Quebec Betting Sites
Since the legalization of single-event betting in Quebec, the gambling sector has been booming. Discover the top-online casinos to place your next bet & more.
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Saskatchewan Betting Sites
Discover everything about betting in Saskatchewan & the best casinos. Save yourself the confusion and read our guide to find out all your answers.
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Yukon Betting Sites
Deep-dive into our Yukon betting guide, bringing you all the best betting sites, answering questions such as, is betting legal in Yukon? & so much more.
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Ontario Betting Sites
More licenses are being granted in Ontario, which transpires into more betting sites. Explore our expert-rated online betting sites, and everything in between.
Ontario Betting Sites

Advantages Of Moneyline Betting

Unlike point spread betting, money line odds give fans a chance to profit from their sports knowledge by simply predicting the outcome of a match between two opponents. 

Since bettors do not have to worry about winning the game by a certain margin of victory, it is generally considered easier to make winning money line bets. It also exposes bettors to less variance, especially late in games where the final outcome has all but been decided on the scoreboard.

 A great option for both single-game betting and parlay betting, money line bets offer increased win probability when betting on favourites and bigger odds when betting on underdogs.

Money line odds are also easy to understand and offer better value over the long run than point spread bets.

For a quick breakdown of the advantages of moneyline betting at the best new online casinos in Canada, check out the chart below. 

The Advantages Of Moneyline Betting 

✅ Easier to make winning bets
🏀 Great for single-game betting and parlay betting
💰 Win without worrying about margin of victory
🎲 Exposes bettors to less overall variance 
🏆 Increased probability of winning when betting favourites 
🐶 Get bigger odds when betting underdogs
💲 Better odds and overall value

 

Disadvantages Of Moneyline Betting

Sports betting at a profitable level is notoriously difficult and money line betting is no different in that regard. While money line bets offer specific advantages, they are still challenging to win on a consistent basis. 

Like other forms of sports betting, it can be hard to remain profitable when money line betting, even when selecting favourites to win the match. And since the odds often coincide with the implied probability of winning, it can be hard for recreational bettors to identify value and find an edge. As the sportsbooks begin to adjust to the performance of individual teams and players, edges on money line bets tend to disappear over time. 

Check out the chart below for a quick rundown of the disadvantages of moneyline sports betting. 

The Disadvantages Of Moneyline Betting 

❌ Tough to win consistently
👎 Hard to remain profitable
🎲 Difficult to identify value
📉 Edges tend to disappear over time

 

Moneyline Betting Strategy

Betting the moneyline can be a profitable way for sports fans to have some skin in the game. Like point spread betting lines, there are already profits worked into the moneyline odds offered by the sportsbooks. 

This makes it even more important to shop for the best moneyline odds on every selection. Sharp bettors can sign up to more than one sportsbook to cash in on the best odds and double their bankroll with multiple welcome bonus offers. 

While bettors should only risk what they can afford to lose, they can find some added value when backing one side to win the match. When betting the moneyline, members can find odds valued at 2.00 or higher for weaker teams, which means sports fans can earn a profit with a lower overall winning percentage by backing underdogs to win the match outright. 

Some sportsbooks have essential promotions that make it easier for moneyline bettors to earn a profit. Sports fans can also benefit from early cash out offers for nearly every sport. These early cash out offers pay bettors in full after taking the lead by a certain amount of points, no matter the final result of the match. 

After a run of good luck, moneyline bettors should also look to withdraw some of their winnings to take some profits and minimize their overall risk.

Moneyline Betting Tips

💸 Only risk what you can afford to lose
🎰 Shop for the best moneyline odds
💰 Claim welcome bonus offers
💲 Cash in on exclusive features and bonuses
🐶 Identify hidden value by betting underdogs
🏆 Have a run of good luck
💵 Withdraw cash to minimize risk

 

Do Professional Bettors Use Money Betting?

Moneyline bets are an essential tool for both recreational and sharp bettors. Professional sports bettors use money line betting to capitalize on bigger odds for underdogs and to decrease their overall variance when betting on favourites. 

In order to remain profitable, professionals only focus on games where they have an edge and rarely make parlay bets. 

However, moneyline betting is an important weapon in a sharp bettor’s arsenal and there are times when sharps choose to place money bets instead of point spread bets. Professional sports bettors place money line bets to increase their betting volume, capitalize on bigger odds, and boost their overall winning percentage. 

Unlike point spread betting, where bettors need to win around 53 percent of their bets to earn a profit, money line bettors can earn a profit at much lower winning percentages. Since money line odds are priced at 2.00 or higher for weaker teams, bettors can often win bigger amounts of money when heavy underdogs win the game outright. 

To learn more about the difference between point spread betting and money line betting, scroll down below. 

Moneyline vs. Point Spread 

A money line bet is the most simple way to place a wager on a sporting event. It places a bet on one side to win the final outcome of a match, regardless of the final score. Unlike point spread betting, the selection does not have to win by a certain margin of victory for the bet to be settled as a winner.

While money line betting is offered for every sport, some sports, like baseball and hockey, are considered moneyline betting sports. Other sports, like football and basketball, rely on point spreads to even out the odds. 

When betting on the moneyline, sports fans can expect to find bigger odds for backing weaker teams or underdogs to win the match outright. On the other hand, favourites will offer less value when selected to win on the moneyline. This differs compared to point spread betting, which aims to generate relatively equal odds for betting on both sides of a contest.

To learn more about the differences between moneyline betting and point spread betting, scroll down below.

What Is The Difference Between Money Line Betting and Point Spread Betting

The main difference is that a point spread bet requires one side to win by a certain margin of victory for the bet to be settled as a winner. On the other hand, a money line bet is simply a wager on the winner of the final outcome of a match, regardless of the margin of victory.

In order to even out the odds and make it profitable to bet on both sides of a contest, point spread betting assigns a handicap for one side to win the game by a certain winning margin. This helps take into account the relative strength of both teams and generate an equal probability for both outcomes. 

On the other hand, money line bets can generate unbalanced odds for both sides. While the money line odds are a reflection of the relative strength of each team, it doesn’t change the fact that selecting one side has a higher probability of occurring than the other. 

For a quick breakdown of the differences between money line betting and point spread betting, check out the chart below.

Moneyline Betting vs. Point Spread Betting

Moneyline Betting

Point Spread Betting

💸 Must win the match 💸 Must win by a predetermined margin of victory
🎰 Odds coincide with the implied probability of winning 🎲 Both sides have a 50/50 chance of winning 
🏆 Favourites are more likely to win 🏆 Underdogs are more likely to win
💵 Bigger payouts for underdog bets 💵 Bigger payouts when betting favourites

 

What Is The Best Moneyline Betting Site?

When the final buzzer sounds, the best moneyline betting site will ultimately come down to personal preference, especially for individual users.

In order to get the most out of their sports betting experience, Canadians are encouraged to sign up for accounts with more than one sportsbook. This allows bettors to shop for the best moneyline betting odds and cash in on multiple welcome bonus offers, which can help them maximize their overall profits in the long run.

For Canadians that want the best moneyline betting odds and features, Bodog is the best place to start. New users can sign up to Bodog to receive a welcome bonus offer worth up to $200 in free bet credits. 

To sign up for Bodog and cash in on the best moneyline betting odds and features, click below.

FAQ

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Shortly after graduating with an Honors in Business Administration, Nick turned his attention from traditional stocks and bonds to investing in the performance of sports teams. He uses a combination of advanced stats and historical data to create sports investment models to identify value and generate consistent profits. Nick's work can also be found at Pistons Powered, SafeBettingSites, Winners And Whiners, and more.