What is a Moneyline Bet?
Moneyline betting is one of the more basic forms of sports betting where you wager on which team you believe will win the game outright. Each team is assigned odds based on their perceived chances of winning, with favorites represented by negative odds and underdogs by positive odds.
How Does Moneyline Betting Work in Colorado?
In moneyline betting, odds are presented in either a positive or negative format. Negative odds indicate the favored team, while positive odds represent the underdog.
For example, if the Denver Broncos are facing the Kansas City Chiefs, and the Broncos are listed at -150, they are considered the favorites. On the other hand, if the Chiefs have odds of +200, they are viewed as the underdogs.
This is true for any sporting events whether you’re betting on the Broncos, Colorado Avalanche or even the Colorado Buffaloes. Many new players will use Colorado sportsbook promo codes on a moneyline bet as they’re typically the most simple to understand.
Calculating Payouts with Moneyline Odds
Understanding how moneyline bets will payout depending on the odds you're choosing can confuse new sports bettors and sometimes veteran bettors, too. Below is a basic rundown of what how you can calculate a potential payout before placing a moneyline bet.
Positive Moneyline Odds
Betting on the underdog with positive odds offers the potential for a higher payout. For instance, if you bet $100 on the Colorado Avalanche with odds of +150 and they win, you would receive a total payout of $250 ($100 initial stake + $150 profit).
Negative Moneyline Odds
With negative odds, you need to bet more than $100 to win $100. For example, if you bet $150 on the Denver Nuggets with odds of -120 and they win, you would receive a total payout of $250 ($150 initial stake + $100 profit).
Tips for Successful Moneyline Betting in Colorado
To maximize your chances of success with moneyline betting in Colorado, consider the following tips:
Following Line Movements
Many sports bettors sign up for multiple sportsbooks like bet365 Colorado or Fanatics Sportsbook CO. Since each sportsbook provides their own specific odds you might be able to find a better deal. Sports bettors in Colorado and across the world refer to this as “line shopping”.
Managing Your Bankroll Wisely
Set a budget only you are comfortable betting with. Determine what a unit, or set amount you’re comfortable betting with, prior to making your first bet. Your unit can be set as low ($1, for example) or high as you can reasonably afford.
Researching Past Performances
Dedicate time to researching the strengths, weaknesses, and recent performances of whoever you choose to bet on. Maximizing your potential based on research to win can only help your overall success on Colorado sports betting apps.
Popular Colorado Teams for Moneyline Betting
Colorado sports enthusiasts have a plethora of local teams to support and bet on, including:
Denver Broncos The NFL rules the sports betting roost when it comes to sports betting in the United States. While the recent success - or lack thereof - of the Broncos might have you betting positive moneyline odds as the underdog that just means you have an option to win more. You can find Broncos odds on most, if not all, Colorado sportsbooks.
Denver Nuggets Few professional sports teams in Colorado are more popular than the Denver Nuggets. The recent successes on the hardwood is a large reason thanks to the phenomenal play from players like Nikola Jokic, Jamal Murray, and others. Betting not only on their moneyline odds but also the Nuggets' odds to win the NBA Finals is a popular way for fans to bet.
Colorado Avalanche The success from Colorado’s NBA team has most recently come after the success from their NHL team. The Colorado Avalanche are year-in and year-out a top contender and popular moneyline bet each night.
College Sports Did you know you can bet on college sports in Colorado? If not, now you do! That includes the Colorado Buffaloes sports teams like Deion Sanders' football team. You’ll also find moneyline odds for men's basketball teams in the state on available apps as well.
Recap of CO Moneyline Sports Betting
Moneyline betting offers Colorado sports bettors a fun opportunity to support their favorite local teams and potentially profit from their wins. By understanding how moneyline odds work and considering various factors specific to Colorado teams and conditions, you can make informed betting decisions and enhance your overall sports betting experience in the Centennial State.
Moneyline Betting in Colorado FAQs
Yes, you can bet on Colorado-based collegiate teams such as the Colorado Buffaloes and Colorado State Rams in moneyline bets offered by licensed sportsbooks.
Moneyline bets are similar regardless of where you're betting from. A moneyline bet is the process of picking and outright winner of any sporting event. For example, if you think the Broncos will win in a game against the Raiders, you'd choose the Broncos moneyline to win.
Yes, you can bet on both teams, but it's essential to consider the odds and potential payouts carefully, taking into account factors such as home-field advantage and team strength.
Some sportsbooks live in the state such as BetMGM and BetRivers typically offer exclusive promotions and bonuses tailored for Colorado residents, so it's worth exploring different betting platforms. This is a great time to not only promo shop but line shop as well.
Utilize sports news websites, local newspapers, and dedicated sports betting platforms to stay informed about Colorado teams, players, and betting odds.
The experts at BetColorado who bring you the latest updates in Colorado sports betting. We pull together decades of experience to give you analysis as well as comparisons of the best CO online gambling apps.