What do odds of +200 mean [Example: Pittsburgh Steelers (+200) @ New England Patriots (-220)]
Without taking into account the point spread or the total, this is a simple Moneyline that a bettor can bet on. We can immediately see that the New England Patriots are favorites because the odds are -220 which means that for a bettor to win $100 profit, they need to wager $220. Conversely, if the bettor wishes to place a bet on the underdog Pittsburgh Steelers, if they wagered $100, they would profit double at +200 for a $200 profit. Thus we can summarize a Moneyline wager as follows: If a bettor places a bet on the favorite, the odds are what they would have to wager to profit $100. If a bettor places a bet on the underdog, the odds are how much they would profit on a $100 bet. Let’s take another example, this time for basketball.
Los Angeles Lakers (-425) @ Golden State Warriors (+450) (+10.5)
We can see that the Los Angeles Lakers are 10.5 point favorites over the Warriors and the Moneyline shows this. If the market deems that the Lakers are 10.5 points better than the Warriors in this particular game than the Moneyline odds will be lower. The higher the point spread, the lower the odds for the favorite and the larger the payout for the underdog.
Moneyline parlays have become popular amongst recreational bettors who want to combine their picks for a larger payout. Using the two examples above, if the bettor were to parlay the Los Angeles Lakers and New England Patriots they would make a ticket like this:
Los Angeles Lakers Moneyline -425
New England Patriots Moneyline -220
$100 bet pays out $79.68.
If the bettor were to bet these separately they would make $23.53 on the Los Angeles Lakers on a $100 bet and $45.45 on the New England Patriots for a $100 bet. So instead of risking $200 to make $68.98, the bettor can risk $100 to make $79.68. Of course, the odds of getting both games correct adds another element of risk that is baked into the higher payout. Some bettors even make underdog Moneyline parlays for an even greater payout. The odds of these hitting are quite low, but the payouts can be quite substantial.
Golden State Warriors Moneyline +450
Pittsburgh Steelers Moneyline +200
$100 bet pays out $1550. Bettors who perceive to have an edge on some underdog plays can parlay these picks into massive payouts.
Moneyline Betting Tool
The Zcode line reversal tool is a great tool to determine the Moneyline bet. Other options like smart money moves can also be determined through the Zcode line reversal tool.