The Illinois sports betting menu offers a wide variety of choices, which can be overwhelming for newcomers. Despite this, there are ways to streamline the betting process and make it easier to navigate.

Place your moneyline bet, a popular betting style that involves simply choosing the winning side without worrying about points or complex scenarios. The focus is solely on determining the victor of the game.

While moneyline betting may seem straightforward, there are key concepts that are essential for success. Our detailed guide to moneyline betting in Illinois will cover every aspect of this basic bet type.

What is a moneyline bet?

Moneyline bets are highly popular in Illinois online and mobile sportsbooks, especially in team sports such as the NFL and NBA. They are usually featured in the main game listing along with the point spread and total.

In sports like golf and tennis, bettors often have the option to choose the moneyline for head-to-head matchups. While this decision may seem simple, it doesn’t always lead to an easy win.

When making a moneyline bet, you are selecting the team you think will be the winner. The odds will be shown for both teams, highlighting the favored team and the underdog. We will discuss how the odds operate in moneyline betting later on.

How to bet the moneyline

For instance, let’s examine a standard NFL game listing, which could be displayed like this:

• Chicago Bears are a 5.5-point underdog with odds of -110, with a moneyline of +215 and an over/under of 45.5 with odds of -110.
• The Los Angeles Rams are favored by 5.5 points with odds of -110, have a moneyline of -260, and the total score is predicted to be under 45.5 with odds of -110.

The odds for three types of bets, point spread, moneyline, and total, are shown next to the team names from left to right. To place a moneyline bet, you must choose between the Rams at -260 odds or the Bears at +215 odds.

Select the box with the corresponding odds, then click on it to add the wager to the betting slip. Enter the wager amount, ensure all details are correct, and click submit to place the bet.

Online moneyline betting rules in Illinois

The majority of moneyline wager rules for online betting follow industry standards, however, it is important to be aware of potential exceptions. Here are the main points to keep in mind:

• Moneyline bets become active once the game or contest starts.
• Many bets will be based on the full duration of the game, including any overtime. However, there are also some bets that only consider the standard game time. Make sure to carefully review the bet details provided by the betting provider to ensure it aligns with your preferences.
• If a contest is delayed after it has begun, the moneyline bet will remain active as long as it is completed within a reasonable timeframe, such as 24-48 hours.
• If events are canceled or rescheduled, all moneyline bets will be void and refunded.

While this covers the important information, it is important to note that certain books may have individualized versions of house rules. It is recommended to consistently review the terms and conditions at sportsbooks.

How to read moneyline odds

To demonstrate how moneyline bets work, let’s examine the odds for a Major League Baseball game. Moneyline betting is a popular choice for baseball wagering, with odds for each game typically displayed as follows:

• Tampa Bay Rays +130
• Los Angeles Dodgers -150

The Dodgers are expected to win the contest based on their negative odds, which is a common indicator in moneyline betting where favorites are given negative numbers and underdogs are given positive ones.

When the numbers are drastically different, the oddsmakers suggest a clear mismatch on paper. Conversely, if the odds are very close, the bookmaker anticipates a game that may be too close to call.

Why do moneyline odds move?

Moneyline odds are typically released in advance of sporting events. For sports with regular games, such as the NBA or NHL, odds may be available the day before or on the same day as the game. For less frequent sports like the NFL, odds are usually posted several days in advance.

After the initial release, it is common to see fluctuations in the numbers. As public opinion becomes more clear, a clear preference may emerge. To optimize activity, sportsbooks may adjust the lines accordingly.

As a result, moneyline odds can differ between various operators. For example, in Illinois, DraftKings may have moneyline odds of -150 for the Bears, while FanDuel could offer -140 for the same game.

Small differences can add up over time. Remember to shop around for the best betting odds. Our live odds feed updates regularly with the latest numbers from multiple legal books, so be sure to check back often.

Calculating returns on moneyline bets

Moneyline odds not only show the favored team, but also help you quickly determine the potential payout for winning bets. For example, let’s consider the odds for a fictional NBA game.

• Los Angeles Clippers -220
• Chicago Bulls +250

If the odds are in favor of the Clippers, the moneyline number shows how much we must wager to make $100. For example, betting $220 and winning would give a profit of $100.

Placing a $100 bet on the underdog Bulls could result in a $250 return if they win the game.

This is the quick and simple way to solve it, however, there are also formulas that can be used. If the odds are negative, we must follow the next steps.

• Bet Amount/(Odds/100) = Profit

To start, we calculate the odds divided by 100 in the parentheses. The potential return is then found by dividing the bet amount by this result.

The formula has been slightly modified for positive odds.

• Profit equals the bet amount multiplied by the odds divided by 100.

We still divide the odds by 100, however, for positive odds, we multiply the result by the amount of the bet to determine potential winnings.

Calculating the potential return on a moneyline bet is easy to do by adding it to your betting slip. Just enter the amount you want to wager, and the sportsbook will display your potential winnings. Remember to double-check everything before hitting submit to avoid any mistakes.

Knowing math will be advantageous in the future because it will allow you to easily recognize value opportunities in moneyline odds by just scanning through the listings.

Moneyline betting examples

To gain a thorough understanding of moneyline odds and payouts, let’s review examples from each major sport.

NFL moneyline betting

The primary types of bets for NFL games are moneyline, point spreads, and totals.

• Minnesota Vikings +150
• Green Bay Packers -175

The Packers are the expected winners in this game. A $100 bet on them at -175 odds would earn you a profit of $57.10. Alternatively, if you bet on the Vikings and win at +150 odds, your $100 bet would return $150.

NBA moneyline betting

In NBA betting, spreads, totals, and moneylines are all key components.

• Houston Rockets +120
• Boston Celtics -140

The Celtics are the slight favorites over the Rockets in the moneyline for this matchup. If you wager $100 on the underdog Rockets with odds at +120 and they win, you will receive a return of $120. Conversely, if you bet $100 on the favored Celtics at -140 and they win, your profit will be $71.40.

MLB moneyline betting

The Moneyline is likely the most popular method of betting on MLB games, with the run line and totals coming in as close contenders.

• Milwaukee Brewers +115
• Chicago Cubs -105

Close odds suggest a close game is expected. Betting $100 on the underdog Brewers at +115 odds could earn you $115 if they win. Meanwhile, a $100 bet on the favored Cubs at -105 odds would result in a $95.20 return if they win.

NHL moneyline betting

In the NHL, betting primarily revolves around moneyline bets, but there are also opportunities to wager on goal lines and totals.

• Ottawa Senators +180
• Chicago Blackhawks -220

There is a significant difference in the numbers, indicating a possible imbalance. In this case, the Blackhawks are heavily favored, with odds of -220 meaning a $100 bet could yield $45.50. On the other hand, if you bet $100 on the underdog Senators and they win, the +180 odds suggest a potential payout of $180.

NCAA football moneyline betting

Even though college football spreads and totals get a lot of attention, the moneyline still has value to offer.

• Purdue +280
• Notre Dame -360

When betting on college football moneylines, there can be large disparities in odds. For example, the Fighting Irish are heavily favored, with a $100 bet resulting in a $27.80 profit if they win. On the other hand, if Purdue pulls off an upset at +280 odds, a $100 bet would yield a $280 return.

NCAA basketball moneyline betting

The situation is comparable in college basketball, where spreads and totals may be more popular, but there are also numerous betting opportunities on the moneyline.

• Illinois +105
• Loyola Chicago -125

This closely contested game has the potential to be profitable for either team. A $100 bet on Loyola Chicago at -125 odds could result in an $80 return if they win. Conversely, a $100 bet on the underdog, Illinois, at +105 odds could earn you a $105 return.

MLS moneyline betting

Although soccer betting often focuses on the moneyline, spread and totals bets are also widely popular in the sport.

• Chicago Fire +115
• The New York Red Bulls have odds of -135.

Be cautious when placing moneyline bets in soccer as some options allow for a tie. If you bet $100 on the favored team, the Red Bulls, you could potentially win $74.10. Alternatively, betting on the underdog team, the Fire, with odds of +115, could result in a $115 return.

Golf moneyline betting

As tournaments progress, sportsbooks set up head-to-head matchups using the moneyline.

• Phil Mickelson +125
• Tiger Woods -115

The rise of head-to-head golf bets is growing in sync with the popularity of the PGA Tour. For example, in a match where Mickelson has odds of +125, a $100 bet would result in a $125 return if he outperforms. Conversely, a successful $100 bet on Woods, with odds at -115, would yield a return of $87.

Tennis moneyline betting

Moneyline odds for each match in a tennis tournament, including both men’s and women’s games, will be available from sportsbooks.

• Rafael Nadal +100
• Novak Djokovic -105

During the early rounds of tennis tournaments, there are often many uneven matchups, but the competition tends to get tighter as the tournament goes on. In this specific match, a $100 bet on Nadal with odds of +100 would earn a profit of $105, while a $100 bet on Djokovic with odds of -105 would only yield a return of $95.20.

NASCAR moneyline betting

The moneyline is also used for head-to-head matchups in NASCAR races.

• Ryan Blaney +190
• Kevin Harvick -240

During a standard NASCAR race, numerous drivers are ready to compete and sportsbooks frequently group them into pairs for betting purposes. For instance, a $100 bet on Blaney could potentially win $190, while a $100 bet on Harvick might only yield a $41.70 return.

UFC moneyline betting

Moneyline odds for each match winner are always displayed on UFC cards.

• Justin Gaethje +260
• Khabib Nurmagomedov -340

Some matches offer even odds for both teams, but in this particular case, one team is clearly the favorite. Betting $100 on Nurmagomedov would result in a $29.40 payout if he wins. However, if Gaethje pulls off an upset, a $100 bet would earn you $260.

How to handicap moneyline bets

Moneyline bets are typically easy to understand and are a good starting point for new sports bettors. However, just because they are straightforward doesn’t mean they are always easy to win. Upsets are common, and bets that seem like a sure thing can sometimes go wrong.

Betting on sports comes with its own set of challenges, so be prepared. The goal of making moneyline bets on a game or event is to choose the team or player with the best chance of winning. Here are some strategies to help you reach this objective:

• Assess Strengths and Weaknesses Impartially: It is crucial to identify if there is a clear disparity between the two sides. For example, in the NFL, one team may have a strong rushing game while the other lacks in defending against it. In tennis, a player may consistently excel at a particular venue while their opponent does not. Recognizing these subtle advantages can boost your confidence in making informed decisions.
• Reviewing previous matches and familiar opponents: Teams and players who regularly face off provide a valuable source of information to assess past performances. Even those with infrequent matchups may have shared rivalries. While the past doesn’t predict the future, it can provide valuable insights into potential outcomes.
• Focus on Recent Performance Rather Than Overall Season: In any sport, the season can be a rollercoaster of ups and downs for athletes. It’s crucial to evaluate their current form to get a true picture of their capabilities. Strong performers are likely to maintain their success, while those struggling may continue to face challenges. Paying attention to these details can also reveal potential surprises in competition.

Using handicapping techniques can help you reach your goals, but it also carries some risks that must be avoided. Here are a few pitfalls to watch out for:

• Some people tend to bet on either favorites or underdogs on a regular basis. Those who bet on favorites believe that they win often enough to make a profit in the long run. Conversely, those who bet on underdogs think that big wins can make up for occasional losses. When making a moneyline bet, all you have to do is choose the winner and decide if the bet is worth it. It’s really that straightforward.
• Betting with a Biased Viewpoint: While we all have our favorite teams and players, as well as specific outcomes we hope for, it is important to avoid letting these biases influence our gambling decisions. Allowing emotions to dictate your betting choices can result in negative consequences in the long run. If you find it difficult to separate your personal preferences from your betting strategy, it is advisable to refrain from placing bets altogether.
• Dealing with Losses in Sports Betting: In the world of sports betting, losses are a part of the game. The key is to learn from your mistakes, adapt your strategies, and stay focused on future opportunities. Holding onto bitterness and expecting to break even simply because you feel it’s your turn could lead to disappointment.

What to remember about moneyline betting

Moneyline bets are a popular choice on online and mobile sportsbooks, where you simply pick the winner. The odds board shows you which outcome is favored and how much you could win if your bet is successful.

While the moneyline may seem easy to understand, it is not a guaranteed way to earn money. The same handicapping principles that apply to other types of bets also apply here. It is important to conduct thorough research and make well-informed decisions before placing a bet.