Understanding Moneyline Odds — How to Bet on Who Wins
Learn how moneyline odds work in sports betting. Covers American moneyline notation, calculating payouts, and when to bet moneylines vs. spreads.
What Is a Moneyline Bet?
A moneyline bet is the simplest wager in sports betting: you're picking which team or player will win the game outright, with no point spread involved. The odds reflect each side's probability of winning.
In American odds format, favorites are shown with a minus sign (e.g., -150) and underdogs with a plus sign (e.g., +130). The number tells you how much you'd win on a $100 bet (underdogs) or how much you need to bet to win $100 (favorites).
Moneyline Payout Calculations
For positive moneyline odds (underdogs): Payout = (Stake × Odds) / 100. Example: $100 at +150 pays $150 profit ($250 total return).
For negative moneyline odds (favorites): Payout = (Stake × 100) / |Odds|. Example: $100 at -150 pays $66.67 profit ($166.67 total return).
The break-even win percentage for a -150 favorite is 60% (150/250). For a +150 underdog, it's 40% (100/250). Understanding these implied probabilities is essential for identifying value bets.
Moneyline Betting FAQ
When should I bet the moneyline instead of the spread?
Bet the moneyline when you believe an underdog will win outright (avoiding the spread's margin requirement) or when betting on heavy favorites where the spread offers insufficient value relative to the moneyline price.
What is a 3-way moneyline?
A 3-way moneyline includes the draw as a separate outcome, common in soccer. You can bet on the home win, draw, or away win. If a match goes to extra time, most 3-way moneylines are graded on the result after 90 minutes plus stoppage time.