Moneyline (ML) - You bet on a team to win a contest, period. There are no pointspreads. If you select the winner of the contest, you win your bet. The problem here is that the books adjust the amount of juice you have to pay in order to equalize the action. If, for example, two basketball teams were pickem, then the ML would be somewhere between -105 and -110 on each team depending upon the sportsbook.
So let's look at a basketball team that is favored by 10 points. The corresponding ML for that team would be around -470. In other words, you would have to bet $470 to win $100 on the favorite. The dog may be listed anywhere from +420 to +250 depending upon sportsbook. If you wagered $100 on a +420 dog, and they win the game, you win $420 (plus you get your $100 back). The books only make money on these bets when the dog wins (assuming the action is equal on both teams).
ML bets are the norm in baseball and hockey although run lines are available through some outlets. Betting on ML dogs where the spread on the juice is large is tough sledding. Betting on ML favorites over -200 on a regular basis is a recipe for certain disaster.
Hope that helps.
