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What is a Moneyline Bet?
A moneyline bet is the simplest form of sports betting: you’re picking which team or player will win a game or match outright. Unlike point spreads, where the margin of victory matters, moneylines focus solely on the winner. This makes it a great starting point for beginners betting in Illinois.
- Favorites: Indicated with a minus sign (e.g., -150). You’ll need to wager more to win less because the team is expected to win.
- Underdogs: Indicated with a plus sign (e.g., +130). A smaller wager can yield a bigger payout if the underdog pulls off an upset.
How Moneyline Odds Work
Moneyline odds reflect the implied probability of a team winning and determine your potential payout. Here’s a quick breakdown:
- Negative Odds (e.g., -150): You’d need to bet $150 to win $100, meaning a total payout of $250 (your $150 stake + $100 profit).
- Positive Odds (e.g., +130): A $100 bet would win you $130, for a total payout of $230 (your $100 stake + $130 profit).
The top IL betting apps like DraftKings, FanDuel, and Bet365 offer competitive moneyline odds across sports like football, basketball, baseball, and hockey.
Moneyline Betting Example
Let’s say the Chicago Bears are playing the Green Bay Packers:
- Bears: +140
- Packers: -160
If you bet $100 on the Bears (+140) and they win, you’d get $240 back ($100 stake + $140 profit). If you bet $160 on the Packers (-160) and they win, you’d receive $260 ($160 stake + $100 profit). It’s that simple!
Why Bet Moneylines in Illinois?
- Simplicity: No need to worry about point spreads or over/under totals—just pick a winner.
- Flexibility: Available for nearly every sport, from NFL and NBA to MLB and NHL games popular in Illinois.
- Upset Potential: Betting on underdogs can lead to big payouts, especially in rivalry games like Bears vs. Packers.
Tips for Moneyline Betting in Illinois
Shop Around
Illinois has a competitive betting market. Compare odds at sportsbooks like Caesars Sportsbook, Fanatics Sportsbook, or BetMGM to maximize value.
Research Trends
Look at team performance, injuries, and historical matchups. For example, how do the Bulls fare against Eastern Conference rivals?
Consider Home Advantage
Teams like the Blackhawks or Cubs often perform better at home—factor that into your bets.
Start Small
If you’re new to sports betting, test the waters with smaller moneyline wagers.
Where to Bet Moneylines in Illinois
Illinois offers a robust selection of legal online sportsbooks. Here are some top options:
- DraftKings Illinois: Known for competitive odds and a user-friendly app.
- FanDuel Illinois: Great for live betting and moneyline promotions.
- Bet365 Illinois: Offers extensive markets and bonus bets for new users.
- BetMGM Illinois: Perfect for Illinois bettors with its local partnerships and rewards program.
To get started, sign up with one of these platforms, claim any welcome bonuses, and place your first moneyline bet. You must be 21+ and located within Illinois state lines to wager legally.
Final Thoughts on Moneylines in Illinois
Moneyline betting is an easy and exciting way to dive into sports betting. Whether you’re backing the Bears, Bulls, or an underdog like the White Sox in a big series, understanding moneylines can enhance your experience. Ready to get started? Pick your favorite Illinois team, find the best odds, and place your bet today!
Moneylines in Illinois FAQ
Moneylines in Illinois work the same as anywhere else: you bet on which team or player will win a game outright. Odds are presented as positive (e.g., +150 for underdogs) or negative (e.g., -200 for favorites) numbers, showing how much you can win or need to wager.
Moneyline payouts depend on the odds. For favorites (e.g., -150), a $150 bet wins $100, totaling $250 back. For underdogs (e.g., +130), a $100 bet wins $130, totaling $230. Your wager is returned with your winnings if you’re successful. Sportsbooks process payouts instantly or within a few hours after the game ends, depending on the platform.
Yes, you can parlay moneyline bets in Illinois! A parlay combines multiple moneyline picks into one wager for a higher payout. For example, you could parlay the Bears (+140) and Cubs (-120) to win. If both win, your return is greater than betting them separately, but all selections must win for the parlay to pay out.
In most cases, yes—moneyline bets in Illinois typically include overtime unless otherwise specified. For sports like the NFL or the NBA, the bet is on the final winner, including any extra periods. However, some sportsbooks may offer “regulation time only” moneylines (e.g., for hockey or soccer), so always check the rules before betting moneylines.
Moneylines focus on picking the outright winner, while point spreads involve betting on the margin of victory. With a moneyline, you might bet the Bulls at -130 to win. With a point spread, you’d bet them at -3.5 (-110), meaning they must win by 4+ points. Moneylines are simpler, but point spreads often offer better odds on favorites.
Author
Blake Weishaar is a content strategist and fact-checker for IllinoisBet.com. He's been at the forefront of the gaming industry for close to a decade, including the rapid expansion of sports betting with the repeal of PASPA in 2018. You can rest assured that Blake will provide the most up-to-date and accurate information on Illinois' sports betting market.
