Moneyline
A bet on which team or player will win a game outright, without a point spread.
The moneyline is the most straightforward type of sports bet: you simply pick who wins. There is no point spread. The only question is which side wins the game.
Because there is no spread to even things out, the odds do the work instead. Favorites pay less than you risk, underdogs pay more, and the price tells you how likely the sportsbook thinks each outcome is.
Reading Moneyline Odds
Moneyline odds are usually shown in American format:
- Negative number (e.g., -150): the favorite. You must bet $150 to win $100.
- Positive number (e.g., +130): the underdog. A $100 bet wins $130.
If both sides are close to even, you may see something like -110 / -110 or -105 / -115.
How Much a $100 Moneyline Bet Pays
| Odds | Profit on $100 | Total Return | Implied Chance |
|---|---|---|---|
| -300 | $33.33 | $133.33 | 75.0% |
| -200 | $50.00 | $150.00 | 66.7% |
| -150 | $66.67 | $166.67 | 60.0% |
| -110 | $90.91 | $190.91 | 52.4% |
| +100 | $100.00 | $200.00 | 50.0% |
| +150 | $150.00 | $250.00 | 40.0% |
| +200 | $200.00 | $300.00 | 33.3% |
| +300 | $300.00 | $400.00 | 25.0% |
The implied chance is also your breakeven win rate. If you bet -150 favorites, you need to win more than 60% of them just to break even.
How to Calculate Implied Probability
- Negative odds: |odds| / (|odds| + 100) × 100
- Positive odds: 100 / (odds + 100) × 100
So -150 implies 150 / 250 = 60%, and +130 implies 100 / 230 = 43.5%. Our Odds Converter does this instantly.
Where the Sportsbook's Cut Hides
The book's margin sits in the gap between the two prices. Take Chiefs -180 / Raiders +155:
-180 implies 64.3% | +155 implies 39.2%
64.3% + 39.2% = 103.5%
The extra 3.5% over 100% is the book's built-in edge. Remove it and the fair, no-vig probabilities are roughly 62.1% for the Chiefs and 37.9% for the Raiders.
Moneyline vs. Point Spread
On a spread bet, a favorite has to win by a certain margin. On the moneyline, it just has to win, but you pay a higher price for that. A team that is -7 on the spread at -110 is often around -330 on the moneyline.
The moneyline is usually the better fit when you think an underdog can win outright, or in low-scoring sports where margins are small. That is why it is the main market in baseball, hockey, soccer, tennis, and combat sports.
Moneylines in Different Sports
- MLB and NHL: the moneyline is the main bet, with run lines and puck lines (±1.5) as the spread alternative.
- NFL and NBA: the spread gets more action, but moneylines are popular on underdogs.
- Soccer: usually a three-way moneyline (home, draw, away), so a draw loses both team bets.
- UFC and boxing: moneyline on the fighter, with draws often refunded or offered as their own bet.
Moneyline Parlays
You can combine moneylines into a parlay. Two favorites at -150 and -200 combine to 1.667 × 1.500 = 2.50 in decimal odds, or +150. That is a better payout than either alone, but both teams have to win.
Common Moneyline Mistakes
- Laying big prices on "sure things." At -300 you risk $300 to win $100, so one upset wipes out three wins.
- Not shopping lines. Getting an underdog at +155 instead of +140 lowers your breakeven from 41.7% to 39.2%, which adds up over a season.
- Ignoring the draw in soccer. A two-way bet on a team does not win if the match ends level.
Key Takeaways
- Moneyline bets require only picking the winner, with no spread involved.
- Negative odds indicate the favorite; positive odds indicate the underdog.
- Heavy favorites carry large negative moneylines and require more risk for less reward.
- The moneyline is often the best bet for sports with low-scoring outcomes like baseball and hockey.
Examples
- Chiefs -180 vs. Raiders +155: betting the Chiefs means wagering $180 to win $100.
- Dodgers -130 vs. Cubs +110: backing the Cubs returns $110 profit on a $100 bet.
Related Terms
Test Your Knowledge
1 / 4Do you know what Point Spread means?
A handicap applied to a game that forces the favorite to win by a specified margin.
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Frequently Asked Questions
Can the moneyline result in a push?
In most sports, moneyline bets cannot push because there must be a winner. In rare cases (like overtime rules in some sports), ties can occur and most books refund the bet.
What is a moneyline parlay?
A moneyline parlay combines multiple straight-up winner picks into a single bet. All picks must be correct to win.