What Is a Moneyline Bet? How Moneyline Odds Work
A moneyline bet is a bet on which team wins the game. There is no point spread. The favorite has a minus number, such as -150, and the underdog has a plus number, such as +130. The numbers set how much you risk and how much you win.
How to read a moneyline
A minus number is the amount you risk to win $100. A plus number is the amount you win on a $100 bet. You do not have to bet $100. The numbers scale to any stake.
| Moneyline | $20 bet wins | Total returned | Implied win chance |
|---|---|---|---|
| -200 | $10.00 | $30.00 | 66.7% |
| -150 | $13.33 | $33.33 | 60.0% |
| -110 | $18.18 | $38.18 | 52.4% |
| +100 | $20.00 | $40.00 | 50.0% |
| +130 | $26.00 | $46.00 | 43.5% |
| +200 | $40.00 | $60.00 | 33.3% |
Moneyline vs point spread
A spread bet asks whether a team wins by enough points. A moneyline bet only asks who wins. A 7-point favorite might be -110 on the spread and -320 on the moneyline, so you pay much more for the safer bet.
Underdogs work the other way. Taking +7 pays about even money. Taking the same team to win outright pays far more. Our moneyline vs point spread guide compares the two in detail.
When does a moneyline bet make sense?
- In baseball and hockey, where the moneyline is the main way to bet a game.
- On a small underdog you think can win outright, not just cover.
- When a spread sits on a number you do not trust, such as -3 in the NFL.
Heavy favorites are where bettors get hurt. At -400 you need to win four out of five just to break even. Convert the price with our implied probability guide before you bet it.
What happens if the game ends in a tie?
In sports with overtime, a standard moneyline includes overtime, so there is always a winner. If an NFL game ends tied, moneyline bets are refunded at most sportsbooks. Soccer uses a three-way moneyline that includes the draw.