The company known for their clothing is now looking to dress sharply in sports betting.
Fanatics Sportsbook has launched in Maryland, Massachusetts, Ohio, and Tennessee. While four states is not a lot considering the amount that have legalized sports betting, Fanatics has a library of states in their sights after their acquisition of PointsBet Sportsbook earlier in 2023.
One of the important features of sports betting is the Moneyline wager. It is the classic, go-to bet for bettors just starting and veterans of the practice. To help you better understand Moneyline wagers and the way it works on Fanatics, I’ll break down more of what to expect with this essential betting option on the newest sportsbook.
How to Make Moneyline Bets on Fanatics
Fanatics Sportsbook has an easy enough layout to get to the Moneyline wager of your choice. Here are the steps involved, starting with signing up for Fanatics:
Step 1: Create an Account or Sign In
The first thing you need to do is sign in or create an account if you haven’t already. Head to our Fanatics Sportsbook review to learn everything about the new venture.
You can visit their homepage, which gives a QR code link to download the app for iOS and Android. You can also head to the Apple App Store or Google Play to search and download the app.
Next, input your personal information, including your name, address, etc. Wait for a confirmation e-mail and you’re ready to roll. Alternatively, if you already have an account, sign in with your username and password.
This process is secure and a necessary step to ensure safe, legal betting.
Step 2: Deposit Funds
In order to put money into your account, you’ll need to select “Deposit," which is prominently displayed in a green trim on the top-right of your screen. There are several banking methods available for you, making it a convenient process. You’ll need to deposit a minimum of $5, which will immediately show up in your balance. Now, you’re ready to find your bet.
Fanatics is offering new users their Bet $5, Get $200 in Bonus Bets promo. New bettors in the four states with Fanatics can take advantage of this immediately.
Step 3: Navigate the Betting Markets
It’s time to find your preferred wager.
Think about which sport you’d like to target. You can access each one by selecting “Search," which are arranged in alphabetical order. You may also choose from the “Popular" section if this is applicable to your sport, giving you quick access. Once you’ve done that, you’ll see a list of games featuring moneylines.
We will update you on whether they will incorporate more betting markets from the PointsBet Sportsbook mobile app, depending on how they incorporate that apparatus.
Step 4: Add to Your Bet Slip
In order to add a pick to your bet slip, all you need to do is click on the one that you want. Let’s say that you want to place a wager on an MLB moneyline since Fanatics has launched in the heart of the season. When clicking “Baseball" page, you can click my preferred choice.
You’ll now have to type in your stake to see your potential payout, which is based on the odds. For example, a +100 moneyline would pay $100 on a $100 wager. Note that Fanatics has set amounts ready to wager once you click on any option.
There is an edit option, a pencil image, to the left of the set amounts that allows you to make your wager of any amount.
Step 5: Straight or Parlay?
The last step would be to decide whether you want to place a straight bet or make a combination of two or more in a parlay. If you want the former, simply select “Place Bet."
To create a Fanatics parlay, you’ll want to go back to the selection of games, whether it’s another MLB contest or it can be from multiple sports. Click your next choice to add it to the bet slip. You’ll now see the updated odds if it were in a parlay.
What Does Moneyline Mean on Fanatics?
Making a moneyline pick is the simplest wager available. All you need to do is choose a team to win. You don’t need to worry about the winning margin or how many runs were scored in the contest. Let’s take a look at an example to get a better understanding:
MLB: Rangers (+120) at Astros (-140)
In this case, if you take the Rangers (+120), you would need Texas to win at Houston. If you go with the Astros, you’d be taking the home favorite (-140).
The moneyline is based on the implied probability of a given outcome. The Astros are -140 favorites here, giving them approximately 58.3% chance of winning, while the Rangers are about 45.5%, according to the odds.
The key here is to target games where you think the moneyline is too high (bet on the underdog) or too low (take the favorite).
Fanatics Moneyline Rules
The rules for moneyline bets are among the most simple of each bet type, you just have to remember the following:
- Baseball games need to go at least five innings (4.5 if the home team is leading) for the bet to stand. Sometimes, you may see a game settled early because of rain, where this rule will take effect.
- Overtime counts unless you’re taking the 3-way moneyline, where you can take either team to win or draw after regulation. This is popular in soccer, but you can also do it in hockey.
Fanatics has a ‘House Rules’ section on the bottom of their app that goes over every rule, including Moneyline wagers. I strongly recommend reviewing their rules prior to placing any wager.
Moneyline vs. Spread
Moneyline and spread are similar in that both involve choosing a team to win a given game. The difference here is that moneyline only requires you to pick the winner, while the spread involves the projected winning margin. Let’s take a look at an example using an NFL game:
Moneyline: Chicago Bears +130 vs. Detroit Lions -150
Whether I take the Bears or Lions, I just need the team to win the game, regardless of score.
Spread: Chicago Bears +3.5 (-110) vs. Detroit Lions -3.5 (-110)
If I take the Lions, I would need them to win by four or more points. If they win the game but it’s by three or fewer, it doesn’t matter — I’d still lose my wager.
Betting on the Bears would require them to either win outright (by any margin) or lose by three points or fewer.
As you can see here, the odds are different. Usually, spreads have a standard of -110 odds, but it could fluctuate between +100/-120 on either side. On the other hand, moneyline bets can vary significantly, depending on the implied probability of the game. You may see +500 or +1000 underdogs as well as -1000 favorites.
Underdog vs. Favorite
When betting the Moneyline, you’re either selecting the underdog or favorite. The underdog has plus odds (+), meaning that your payout is greater than your stake. The favorite has minus odds (-), so you’ll need to risk more than your potential winnings.
Here’s an example, using an NFL game:
Los Angeles Rams (+200) at Miami Dolphins (-250)
The Rams are +200 underdogs here, so if you stake $100, you’ll win $200 if they defeat the Dolphins. If you take Miami, you’ll be risking $250 to win $100.
The payout is higher on underdogs, but the implied probability is lower. On the other hand, favorites have a better chance at winning, but you’re risking more money.
Fanatics NFL Moneylines
The NFL season is arguably the most bet on in sports. Fanatics will be offering Moneyline bets for every regular season game.
When betting NFL moneylines, you’ll want to target underdogs. This is an unpredictable league where upsets happen on a weekly basis, so going with this approach can be profitable in the long run. You’ll find a lot of value on underdogs.
Likewise, it’s best to stay away from favorites, especially if the juice (lower odds in favor of the favorite, such as -300) is too high. This means that you’ll be staking more than your winnings. This can be a drain on your bankroll over time because betting on a favorite does not guarantee a win.
Here’s an example to help you understand more:
Let’s say that the Tampa Bay Buccaneers are -3.5 (-110) favorites on the road against the Carolina Panthers. If you take them on the spread, you’re risking $110 to win $100.
However, since they’re favored by 3.5, their moneyline is likely to be around -150. This means that you’re risking $150 to win $100. Is an extra $40 of risk worth it when the spread is only -3.5 points? No, because all you need is Tampa Bay to win four or more.
On the other hand, instead of taking the Panthers at +3.5, you may opt to go with them on the moneyline at +140. Instead of risking $110 to win $100, you’d get a $140 payout on a $100 stake. This is why you should target underdogs. Stick to the spread with favorites.
Super Bowl odds feature the same moneyline wagers as the rest of the NFL season. You’ll have a chance to take a team to win the big game. Alternatively, you can go with:
- 1st/2nd/3rd/4th quarter moneyline
- 1st/2nd half moneyline
In this case, your team only needs to win the quarter or half. The final result does not matter.
Moneyline Bet Strategies
Here are some strategies to keep in mind when placing a moneyline wager:
- Shop around multiple sportsbooks to find the best line, which will save you money in the long run.
- Consider a team’s home and away splits and recent performance.
- Think about the head-to-head matchup — are there any mismatches?
- Determine if you feel that the moneyline is too high or low — is one team under/overvalued?
- Don’t lay too much juice on favorites.
- Prioritize straight bets over parlays, putting more units on the former.
- Monitor any line movement or last-minute injuries.
Moneyline Betting for Beginners
- Create parlays of heavy favorites, minimizing your risk while still taking advantage of higher implied probability.
- Focus on underdogs for straight bets because you can find value on an upset.
- Research each team’s strengths and weaknesses to see how they match up.
- Find the best odds by searching through different NFL betting sites.
- Don’t risk too much of your bankroll on one game.
How to Calculate Moneyline Odds?
Moneyline odds are displayed in American style on Fanatics. This is where each side has a negative or positive integer that relates back to $100. Here’s how to calculate the odds:
Underdog: Arizona Diamondbacks +110 over Colorado Rockies
- Divide the moneyline by 100: 110 / 100 = 1.1
- Multiply the result by your stake: 1.1 x $100
- Your payout here is $110 on a $100 wager
Favorite: Baltimore Orioles -150 over Toronto Blue Jays
- Divide the moneyline by 100: 150 / 100 = 1.5
- If you’re risking $100: 100 / 1.5 = $66.67 payout
- If you want to win $100: 100 x 1.5 = $150 risk
The higher the number on the negative integer, the more you’ll be risking. If the underdog moneyline is greater, that means you’ll have a chance to win more money.
Why Are Moneylines a Good Bet?
There are numerous reasons to bet on Moneyline wagers:
- You can find value in underdogs.
- All you need is for your team to win.
- Combine a few heavy favorites into a Fanatics parlay bet to reduce your risk and improve your odds.
- It’s easy to understand for beginners. Comfort is priority #1 with sports betting.
Can Moneylines Be a Bad Bet?
The main way that moneylines can be a bad bet is if you’re laying too much juice on a heavy favorite. Imagine you’re wagering $10 per game at -150 odds. If you lose two wagers, that’s already a net loss of $30, which essentially amounts to three $10 bets.
You would need to maintain a high winning percentage in order to be profitable while betting on these odds. You want to vary your risk as often as possible.
Be sure to limit your straight bets on heavy favorites. Focus on putting them in parlays because you’ll reduce your risk that way. For example, instead of taking a -150 on a single wager, parlay it with another -150. Instead of risking $15 to win $10, you’d be staking $10 to win about $18.
While it’s more difficult since you need to win two games instead of one, you’re risking less money.
What Sports Are Available for Moneylines?
You’ll be able to choose moneyline on any sport where a winner is determined, such as:
- Formula One
Is There Bet Insurance on Moneylines?
Fanatics is new to the scene, so they have not offered bet insurance…yet. It is a safe expectation to have bet insurance offers as the new sportsbook continues to grow and find ways to welcome new users.
Take advantage of the Bet $5, Get $200 in Bonus Bets offer. You’ll have multiple chances to win with the bonus bets, and it does not change your bankroll (unless you win, of course). More bites at the betting apple gives you more experience.