How to Bet Moneylines on Betway | Complete Guide

ByPat Pickens

Aug 2, 2022

If you watch sports on TV or in the arena you probably have seen or heard of Betway.

Despite the fact the online sportsbook is only available in a handful of states, it is a household name due to its aggressive in-arena/stadium marketing push that makes its name clearly visible at almost every professional sporting event.

If you’re in one of the states where Betway is legal and have been curious about placing wagers with the book, don’t be intimidated. Seize the day and take advantage of the collection of wagers the sportsbook has to offer.

Here’s a crash course on how to bet moneylines at Betway.

How to Bet Moneylines on Betway

Step 1: Create an Account or Sign In

You need an account in order to play with Betway. If you have an account be sure to sign in. If you don’t, sign up clicking on our custom link on our Betway full review page, if necessary, to unlock the best new-player offer.

Remember all sensitive information is secure and is requested only to affirm your identity.

Step 2: Deposit

Put your money into your Betway account. Betway accepts all kinds of depositing options like PayPal, PayNearMe, e-check, ACH and credit card in every state except New Jersey.

Keep in mind that Betway will not let you withdraw funds via credit card, meaning if you insert your money via that method it is likely you’ll need to deposit with PayPal or ACH in order to withdraw in that fashion.

Step 3: Peruse Betting Markets

Betway offers odds and lines on more than 2,000 sporting events per week, which means there is no shortage of moneyline wagers to make with the sportsbook.

Step 4: Place Your Bet

Find the moneyline bet you wish to make. Enter the amount you wish to wager. Press “Place Bet."

Step 5: Root For Your Bet to Hit

Cheer on your team and hope it wins!

What Does Moneyline Mean on Betway?

Moneyline bets are the simplest types of wager. In a moneyline bet, users are simply asked to determine who will win a game or match taking place. Sportsbooks assign odds for the favorite and underdog based on how likely they are to win, and those odds also dictate the amount of profit a bettor will make on a successful moneyline bet.

If the Green Bay Packers are a -210 moneyline favorite in a game against the Chicago Bears, and Chicago is a +170 underdog, that means Green Bay bettors would have to wager $210 to net $100 in profit. A Bears moneyline bet would earn a bettor $170 profit on a $100 bet.

If the next week the Packers are a +150 underdog while playing the Dallas Cowboys, and Dallas is a -190 favorite, that means a $100 wager on the Packers would net $150 in profit, and a $190 bet on Dallas would be required to fetch a $100 profit.

Betway Moneyline Rules

There aren’t too many rules for moneyline bets at Betway, but here’s the major one:

  • Pushes: A bet is voided if a bettor wagers on a team in a two-way wager and it is a draw. For instance, if a bettor places a two-way soccer bet (draw-no-bet), a traditional NFL moneyline bet, an MMA two-way bet or boxing bet, and the game/match ends in a draw, the bet is voided and the gambler receives his/her initial stake.
  • Official Game Pushes: If a game is not completed and not suspended and is called off either due to weather or other factors, a moneyline bet will also be voided and the bettor’s initial stake is returned.

Moneyline vs Spread

Moneyline betting, again, is simply determining which team or athlete will win the game or match at hand. In spread betting, sportsbooks will predetermine a number that the favorite would need to win by, or cover, and assign more lucrative odds for betting. Bettors can wager on if the underdog will lose by fewer than the predetermined number in an effort to draw more action to underdogs who may not stand a chance of winning outright.

There are crucial differences in wagering moneylines vs. spreads. For instance, a favorite often wins outright but does not cover the spread, especially in games where a team is a double-digit point favorite, since coaches only care about playing to win and don’t play to cover the spread. 

Still, there are times where betting the spread is a more favorable play. We do not advocate betting moneyline odds that are -150 or longer, since the juice isn’t worth the squeeze so to speak, but would advocate bettors wager on a favorite to cover 2.5 points in that instance since a small spread is worth cashing in on since teams that win typically do so by more than two points. 

Underdog vs Favorite

Most moneyline underdogs and favorites are easy to tell, especially if you’re a sports fan following the league you’re wagering. But underdogs are typically the team assigned plus-money odds, since those pay out more in profit to wagerers, and favorites will typically be given minus-money odds.

There are times when both teams will have minus-money odds, but those are usually reserved for games and matches played either at neutral sites or ones that appear extremely close on paper.

The favorite often will also have a minus number in the spread line — -1.5, -2.5, -7, etc.,

Betway NFL Moneylines

Betway is an elite option for NFL moneyline wagering. Betway offers moneyline odds for every NFL game, from the preseason to the Super Bowl, and gives competitive odds so bettors can get the most bang for their buck each week.

Betway will also curate multi-leg moneyline parlays, like wagering on three teams to each win one Sunday, and boost the odds so bettors who cash in can get even more profit.

Super Bowl

Betway is an excellent option for Super Bowl betting, especially moneyline wagers on the big game. Betway gives users futures, like which team will win the Super Bowl and which team will win the AFC and NFC, while also providing competitive odds and lines for big-game betting.

Moneyline Bet Strategies

The best strategy for moneyline betting is to do your homework and take advantage of value. Whether that is from shopping across sportsbook options for best odds or whether that is from market inefficiencies. Like favorable moneyline odds for a road favorite or a home underdog, that doesn’t seem to make sense then mash it.

I like to wager on home underdogs in the NBA, since home teams in basketball typically have a distinct advantage. I peruse moneyline markets and find the ones that don’t seem to make sense, even if they are for small profits like +120, then reap the rewards when the home team wins.

Do your homework and don’t be afraid to take risks — this is gambling, after all. If a key player is likely to miss an important game, bet the opponent while the odds are still favorable and before the marquee player is ruled out.

Also take advantage of boosted-odds wagers you were planning to place anyway. For instance, if the team you want to bet is boosted to +100 from -120, that’s a $0.17 profit increase for every $1 wagered, and you were planning on making that bet anyway.

Moneyline Betting for Beginners

Start small. Place wagers on games you really think will hit and monitor what happens. If your bet is successful try wagering a bit more. Maybe create a two-leg, moneyline parlay. Before you know it, you’ll be a pro gambling round robins and teasers with the best of them.

Betway is a great option for those dipping their toes into sports betting. It has a leg up on the competition in terms of its new-player bonus because it is a risk-free bet that reimburses in site credit if it doesn’t hit. That means if you place $100 on your first wager and it doesn’t hit, you’ll get $100 back in playable funds that can be used for as long as it is there.

How to Calculate Moneyline Odds?

As alluded to above, moneyline odds are dependent on how likely the favorite and underdog are to win. A moneyline bet with -120 odds will fetch $0.83 in profit for every $1 wagered. A -200 moneyline bet will net $0.50 on every $1 bet. A -450 moneyline wager will net $0.22 for every $1 gambled and so on.

Plus-money odds are far easier to calculate, since a bettor can simply divide down to determine how profit will pay out. A +170 odds bet will pay out $1.70 for every $1 bet. +200 is $2 for every $1. And so on.

Every winning bet pays out stake + profit, as long as a free bet isn’t used, and Betway, like most sportsbooks, will give users the exact payout amount for your wager before you place it.

Why Are Moneylines a Good Bet?

Moneylines are easy! You simply place the wager on whether the team you believe will win does or not and reap the reward if/when it does. There’s no caveats added or spreads to cover. Teams play to win, and when you’re a moneyline bettor, you win when they do — even if it’s in overtime, or by a single point.

Can Moneylines Be a Bad Bet?

When the odds aren’t favorable enough, yeah. You end up betting more to max out your payout when the odds aren’t lucrative enough, since few people truly want to profit $5 on a $10 bet, and -200 favorites often lose. Teams that have shorter moneyline odds sometimes lose.

It’s not fun to lose a moneyline bet. It’s especially not fun to lose a moneyline bet where the payout would be less than $0.50 on the dollar.

What Sports Are Available for Moneylines?

Any sport that has games or matches. Soccer will have three-way moneylines, since there are three results (win, lose, draw), but the rest will typically be two-way moneyline odds, even though ties are possible in the NFL.

Is There Bet Insurance on Moneylines?

When you place your initial risk-free bet on a moneyline wager there will be bet insurance. Sometimes Betway will offer promos like parlay insurance, and if you have a moneyline leg there you could get your money back. But more often, there isn’t insurance on Betway.

Author

Pat Pickens

Pat Pickens is a seasoned sportswriter who has covered the NHL since 2013 for various websites, including The New York Times, NHL.com, Sportsnet.ca, USA Today, the Associated Press and many others. His debut book, titled "The Whalers" about the history of the NHL's Hartford Whalers, was released in October 2021. His greatest successful wager was an LA Kings puck-line bet (+200) in Game 1 of the 2012 Western Conference Final.