12 Moneyline betting
12 Moneyline betting is the act of identifying and backing a player, team or outcome in a betting market where there are only two outcomes. Most commonly this will be in Tennis, Cricket or American Sports, where markets mean you traditionally back team/player 1 or team/player 2. 12 Moneyline betting is one of the most popular types of betting market in the world but shouldn’t be confused with the 1x2 market, where x represents the opportunity to bet on the draw. You can read more about that here.
Pros and Cons
- Pro - Moneyline betting is the most popular, and thus readily available betting market in the world. Every bookmaker offers moneyline betting.
- Pro - Moneyline betting usually offers the highest possible betting limits and good market liquidity on most sports and leagues, meaning it’s well suited to professional bettors and casual punters alike.
- Con - In some sports such as tennis, an injured or retired player loses the match, which depending on the bookmakers rules can mean you lose your bet even if they lead or it’s only one set in.
- Con - Moneyline odds are the most carefully judged and watched betting odds of any market and are quite often priced correctly, which can make it harder to find value and make money from sports bettings. You’ll want to shop around for the best betting odds available.
If you are newer to sports betting then it can be confusing trying to wrap your head around all of the available markets. The numbers, the symbols, the terminology, it can be confusing. One confusing aspect of match betting in particular is moneyline betting. There are two separate markets that are known as the moneyline, and how they work vary depending on the sport. You should note that the 12 Moneyline is different to the 1x2 Moneyline. Here, we are going to focus on the 12 Moneyline and explain how it works.
What does 12 Moneyline even mean?
Moneyline is an American betting term that is equivalent to when we say match market in Europe. It simply refers to the fact you are betting on the outcome of the game/match. The numbers 1 and 2 refer to the outcomes and can be referring to a team, player, group or outcome.
The 12 Moneyline market is only used for sports, events and matches where there are two outcomes and the draw is not possible. In the 1x2 Moneyline market, the explanation is the same with the x representing the outcome of a draw.
Some examples of events where 12 Moneyline is the only one available, and the draw (represented by x) is not a possibility, include Tennis, Two Ball Golf and US Sports where overtime and penalties are included in deciding the final result: eg hockey, basketball and American football bets.
Betting odds and probability - An example bet
12 Moneyline is most common in US Sports because that is the only sport that tends to give the match market that name. Whilst the exact same logic applies to tennis, you’ll still often see that referred to simply as match betting or match result. Some bookmakers will however refer to some European sports with the 12 Moneyline market (where match betting is concerned) so it’s good to keep sports like golf, tennis and cricket in mind.
In many US Sports, the 1x2 moneyline market which you can read about here is a possibility for games where the 12 moneyline can also be bet on. Because the 1x2 only considers regulation time (four quarters, three periods or 9 innings, depending on the US Sport), the best odds are higher due to the risk of the draw meaning a lost bet. If a game is drawn at the end of regulation time using the 12 moneyline, your sports bet is still an active bet until a winner is found in the extra quarter/innings or on penalties (Ice hockey).
This lesser risk is often reflected in the betting odds. On paper and in its most basic mathematical consideration, picking one of three markets (1x2) suggests you have a 33% chance of winning. With the draw removed and two markets available, that chance increases to 50%, so the best odds decrease due to lower risk and the bookmakers increased liability.
New York Giants vs New York Jets best odds: Giants 4/6 (1.66, -134) vs Jets 5/4 (2.25, +125)
With a 12 moneyline bet the draw is not in the equation. If you place a bet on the Giants, they can win in regulation, first overtime, second overtime, whenever. If they win by any means, you win. It goes without saying if you bet on a team and they end up as the loser, you lose, but there, I said it anyway. Below is how to calculate your winnings based on the above example. Let’s say you bet on those Giants.
Stake x Betting odds = Return
Fractional Odds You divide the number on the left by the number on the right, and always add one to reach your decimal odds which in this example are 1.66.
4/6 (=0.66) +1 =1.66 x100 = 166 (-100 = 66 profit from betting
Decimal Odds Decimal odds are arguably the most simple way to bet and work out returns as they are ready made for basic mathematical equations. 1
.66 x 100 = 166 ( - 100 = 66 profit from betting)
US Odds US Odds are setup to reflect how much you must bet to earn $100, or how much you will earn from $100. Where favourites are concerned such as the Giants (-134), the -134 reflects that you are liable (risking, betting) $134 to win $100. If you are betting on the underdog, the Jets, you stand to make +$125 from every $100 you bet. Betting the Giants at -134, you must stake $134 to make $100
Implied Probability is an important factor in understanding single, 1x2 moneyline betting, asian handicap betting and 12 moneyline betting. If you are new to sports betting, implied probability can give you a rough idea of any teams realistic chances of winning a game. Below is an explanation of implied probability using the above example.
Whilst picking one of two outcomes suggests a 50/50 chance of paper, this isn’t the toss of a coin. The many factors involved in sports betting inform the odds, which reflect the probability. Using decimal odds, you can calculate what bookmakers believe to be the implied probability.
NY Giants - Betting odds: 1.66 - Implied probability: 60.2% NY Jets - Betting odds: 2.25 - Implied probability: 44.4%
Below is a table for the implied probability associated with some of the most common odds seen in the two way betting market.
You shouldn’t take the bookmakers word for it as there are many variations and they can’t be trusted fully. You can read more about implied probability right here (link to singles article).
Moneyline betting is one of the most popular sports betting markets with a professional bettor and casual punters alike. How the two groups utilise these markets may be very different, with a casual punter more likely to incorporate them in trebles and accumulators, whilst a professional bettor is more likely to stick to singles and the occasion doubles. Tennis and Cricket offer only 12 moneyline with backing the draw not an option. There’s a big overlap between professional US sports bettors using the 12 Moneyline in partnership with parlay betting, although that is a slightly lower value and higher risk betting strategy.
Moneyline betting is the most sensible way to bet in the opinion of many professional bettors and casual punters. Moneyline bets can be placed in single, double, treble or multiple format, although a professional bettor will likely stick to the first two or parlays. The added risk of betting the 1x2 betting market is not reflected in justifiably better betting odds, and it isn’t uncommon for NBA games, for example, to finish all square and go to overtime almost daily.
US Sport does offer a 1x2 option, but only in Ice Hockey does this boost the betting odds by a worthwhile amount, and that’s a risky sport to tackle. The possibility of overtime in all US Sports makes the 1x2 moneyline market a major risk where available and so 12 moneyline is the preferred option in two way sports or overtime sports such as Tennis, Cricket and US Sport, but also even in football any two way betting markets will be a much safer bet if you can find the right betting odds. The two way betting market in football is known as draw no bet, which you can read about here. Moneyline betting is considered one of the best betting strategies.