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How to Bet Moneylines on Caesars | Complete Guide

ByPat Pickens

Aug 22, 2022

Betting moneylines is the simplest way to wager on sports, since you are betting on which team will win the game. People have been betting on teams/players to win a bet for centuries, yet only recently, in the past 50 years, has the term moneyline and the practice become so scientific.

The Caesars Online Sportsbook is an exceptional way to wager on moneylines, since Caesars offers exceptional odds and a boatload of betting markets on its platform. Caesars offers betting odds for every game and event every day, with sports from around the world.

If you’re interested in betting with the Caesars platform, and earning those valuable Caesars Rewards, but aren’t quite sure how to do so, don’t worry. We have you covered about how to make moneyline bets on Caesars.

How to Bet Moneylines on Caesars

Placing a moneyline bet is super-simple with Caesars. Here’s a look at the steps.

Step 1: Create an Account or Sign In

If you don’t have an account with Caesars, you can click through our custom link on our Caesars full review page, “Get Bonus," and sign up with the code “GAMEDAYFULL" to unlock the sportsbook’s best offer.

Remember, any info is secure and used only to affirm your identity.

Step 2: Deposit

Depositing is as simple as buying something on your favorite online retailer. Simply enter preferred payment method, keeping in mind that Caesars does not let bettors withdraw to a credit card, meaning you’ll need to deposit with an ACH or e-wallet, like PayPal, to withdraw in that way.

Step 3: Find Moneyline Wager to Bet

Peruse the Caesars app or website and find the wager you wish to make. Caesars offers bets for every North American sport and most global games each day.

Step 4: Place Your Bet

Enter the amount you wish to wager, tap place bet.

Step 5: Root for it to win

Cheer for your wager to win!

What Does Moneyline Mean on Caesars?

Moneyline bets are simply betting on which team will win the game or match. There are moneyline bets for all sports, team and individual, and they’re all assigned odds based on their likelihood of winning.

Unlike spreads, there’s no minimum amount of points, goals or runs a team must win by. There’s no over or under required for it to hit. As long as the team or player finishes as the victor in the game or match your moneyline bet will hit.

Caesars Moneyline Rules

There are minimal rules as far as betting moneylines at Caesars. The main one is in the event of a draw, in two-way betting in football, soccer or combat sports, all moneyline bets are voided and stakes are returned.

Moneyline vs Spread

Moneyline bets are simply wagers where you bet on a team to win. There’s no spread required to cover. Simply bet on a team/athlete to win its game/match and cash in if they do.

Spread bets are where a favorite must win by a certain amount or an underdog may cover if it loses by less than a certain amount.

For instance, if the Miami Dolphins are a seven-point favorite over the New York Jets, maybe Miami’s moneyline odds would be -220. If the Dolphins won by more than seven points, they would cover. If they won by fewer than seven, but still won, their moneyline bet would hit but they would not cover the spread.

If the Jets won they would be the moneyline winner, usually at odds that are about +175.

Underdog vs Favorite

The underdog, or sometimes dog for short, is the team that is less likely to win. Favorites are usually the team that is perceived that is likely to win.

Underdogs will typically have plus-money moneyline odds, that can vary from +100 to +900 or longer depending on how lopsided the game appears. Favorites can have moneyline odds from -115 to -2000.

Underdogs can at times have minus-money odds, usually -105, in a game that is perceived to be very close. In the event of an extremely evenly matched game, especially one at a neutral site, each team might have -110 moneyline odds and the spread will be “Pick ’em."

Because betting on a -2000 moneyline favorite will only yield you a $5 profit on a $100 wager, betting a spread is typically more lucrative. Also waiting to live-bet, or bet while the game is ongoing, is a great option if moneyline odds are too short to justify putting out a stake.

Caesars NFL Moneylines

Since the NFL is the most popular sport in the world on which to gamble, and Caesars has a partnership with the NFL, the sportsbook is an elite option for football betting. Caesars offers moneyline, spreads and totals for every game from the preseason to the Super Bowl — though we don’t advocate betting on exhibition games, they’ll take your wagers if you still want to.

Caesars has Week 1 NFL odds available from the minute the schedule is released then releases subsequent weeks shortly after each team’s game ends. Caesars has elite odds and spreads, typically better than the numbers offered by its competitors, which makes it an excellent option for bettors wishing to get the best bang for their buck.

Super Bowl

The Super Bowl is the marquee betting event of the sports calendar, all sportsbook offer Super Bowl bonuses, and Caesars has great odds and a plethora of markets available for the big game. Bettors can place their moneyline wagers instantaneously after the conference-championship games are over, plus Caesars offers futures odds year-round for bettors who want to wager on which team will hoist the Lombardi Trophy in February.

Moneyline Bet Strategies

We generally don’t advocate bettors to wager moneylines that are -150 or shorter. The payout simply is not worth the risk of losing the bet.

The best wager, especially for moneylines, is to trust your gut and try to take advantage of market inefficiencies. In football, if a team is an underdog simply because it’s on the road, pounce. If a spread seems too low because a good team is playing away from home, take advantage.

In basketball, I like to bet on home, plus-money underdogs, especially in cases where the teams appear evenly matched. Home teams generally fare better in the NBA. Some lines simply don’t make sense, and those are the ones to take advantage of.

But the best strategy is to do your homework, have fun and be responsible. Betting on sports is supposed to be fun and a good way to add juice to the games we’re all already watching. There’s no reason for it not to be.

Moneyline Betting for Beginners

The best tip to beginner who might be tentative about betting moneyline wagers is simply to try it. Place a moneyline wager in a game that you feel confident about and see how it goes. If you feel more confident after placing one wager, try a second bet. If that goes well maybe try combining, or parlaying, two moneyline wagers to get more profitable odds. 

As you get more comfortable, it then becomes wiser to place more long-shot moneyline wagers, as long as they are bets you like. There’s no sense in throwing your money away on a long-odds underdog just on the one-in-a-million shot that it wins. But underdogs do win, even ones with long odds — like +300.

Again, be sure to do your homework (which includes checking different sportsbooks NFL odds to bet on the best odds available) but also trust your gut. The best bets are the ones we love.

How to Calculate Moneyline Odds?

If all the pluses and minuses are confusing, that’s understandable. But calculating odds isn’t particularly difficult, especially when it comes to plus-money odds. Plus-money odds are easy to calculate since plus odds relate to 100, meaning a +150 bet will net a bettor $150 in profit on a $100 wager. That makes calculating the odds on a $10 bet simple ($15) and so on.

Minus-money odds can be slightly more difficult to calculate, but they also relate to $100 wagers. For instance -110 moneyline odds means you must bet $110 to net $100 in profit. Those odds are essentially a coin flip, since the house always has an edge in casino/sports gambling.

If moneyline odds are -200, that means your return is $0.50 for every dollar wagered, which is why we don’t advocate betting moneyline odds that are shorter than -150.

Why Are Moneylines a Good Bet?

They are easy! You’re simply betting on which team will win. Which tennis player will win his/her match. Which MMA/boxer will win his/her bout. Simply place your bet and root for the team to win. It’s that easy.

Can Moneylines Be a Bad Bet?

Because odds can be really, really bad for moneyline wagers, especially those that are a sure thing. Plus, even teams listed at -500 can lose, since upsets happen in sports all the time. If you place a $20 bet on a -500 favorite, your return is only $4 profit, and if the team somehow loses you’ll be out $20. The return isn’t worth it for the risk.

What Sports Are Available for Moneylines?

Every sport! You can bet moneylines on football, basketball, tennis, hockey, baseball, soccer — though soccer typically has three-way moneyline bets since there’s a strong chance of draws. Any sport where one team or person faces another will have moneyline odds available to bet on Caesars.

Is There Bet Insurance on Moneylines?

There can be. If you’re placing a risk-free bet that means if the team you’re betting loses you’ll receive either site credit or a second free bet. Caesars will periodically offer promotions like risk-free wagers up to a certain amount, usually $25, where if your moneyline bet on a certain game does not hit they’ll give you another wager.

Consult the sportsbook’s promos section to get the full scale of what Caesars offers. There are odds boosts and promotions every day in most sports.

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.

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