Sportsbook 101: Spread Bets vs. Moneyline Bets

Spread bets and moneyline bets are the most popular types of wagers to place when it comes to betting on the NFL. Designed to make betting on either team equally appealing, they’re relatively easy to learn—making them a great way for beginners to start placing their first sports wagers online.

Spread Betting vs. Moneyline Betting

What is a spread bet?

In order for you to understand how to place a spread (or point spread) bet, it may help you to know how oddsmakers decide which team is favored to win over the other and what number to assign in setting a point spread in a given game; that is the number of points set against the favorite, which they must cover. In placing a bet against the spread, the favorite must win the game by more points than the amount set by the oddsmakers. If you bet on the underdog, however, they must not lose the game by more than the points allocated. But you can also win spread bet if your team wins the game outright.

In the example illustrated below, imagine that you are betting on the 2011 AFC Championship Game: Baltimore Ravens vs. New England Patriots. It’s late in the 4th quarter and the Patriots score a 1-yard touchdown from quarterback Tom Brady.

Shortly after that, the Pats convert the extra point to make the score 23-20 and New England holds onto the lead to take the win and the AFC Championship over Baltimore. Patriots fans celebrate big time… that makes sense; but Ravens backers celebrating a Baltimore loss? What the…? Welcome to the world of sports betting – where you can win a spread bet even if your team loses the game.

The Ravens were the “underdogs” with the (+7) spread and the Patriots were the seven-point “favorites” at (-7). The team with the plus (+) number is the underdog and the team shown with the minus (-) is the favorite.

The Ravens lost the game but won against the spread (ATS) because of the +7 as the underdog. Therefore, if you consider the spread score you’d have Baltimore at 27 (20 + 7) against the Patriots’ 23 points. This means that any spread bet for the Ravens is a winning bet.

Spread Betting on the Ravens

Teams

Game Score

Game Result

Spread

Spread Score

ATS result

Baltimore Ravens

20

Loss

+7

27

Win

New England Patriots

23

Win

-7

23

Loss

What is a moneyline bet?

Placing a moneyline bet is pretty simple: pick the team you think will win the game and you’re done. As with spread betting, a plus (+) next to the number indicates that team is the underdog; while a minus (-) number next to a team indicates that team is the favorite. Compared to a spread bet, which has one or two digits, a moneyline bet usually has three or four digits.

Unlike a spread bet, the winner of this type of bet is decided by the result of the game itself—meaning, if your team wins the game you also win your moneyline bet. In the case shown above, New England Patriots moneyline bettors win their bets because the Patriots won the actual game straight-up (SU).

The moneyline numbers are actually the prices which dictate the payout credited to your account if and when you win.

Using the Baltimore-New England moneyline: If you had a $265 bet on New England (-265) then the Patriots win would have netted you $100 in total winnings. (Original $265 at risk + $100 win = $365 credited to your account.)

Moneyline Betting on the Patriots

Teams

Moneyline

Game Result

Bet Amount

Payout

New England Patriots

-265

Win

$265

$100

Conversely, if Baltimore had won the game, a $100 bet on Baltimore (+225) would have netted you $225 in total winnings. (Original $100 at risk + $225 win = $325 credited to your account.)

Moneyline Betting on the Ravens

Teams

Moneyline

Game Result

Bet Amount

Payout

Baltimore Ravens

+225

Win

$100

$225

Make your NFL spread bets and moneyline bets at Top Bet Sportsbook today.

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