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A moneyline bet is a wager on which team or competitor wins a game outright, with no point spread involved. Odds are shown with a minus sign for favorites (the amount you risk to win $100) and a plus sign for underdogs (the amount you win on a $100 stake). The bigger the number, the wider the perceived gap between the two sides.
What is a moneyline bet?
A moneyline bet is simply a bet on the winner. You are not concerned with margin of victory, only with which side comes out ahead when the final whistle blows. The “moneyline” is the number a sportsbook attaches to each team to set the price of backing it.
Because there is no spread to cover, a moneyline ticket grades as a win the moment your chosen team wins by any amount. That makes it the most intuitive market for newer bettors, while still carrying important nuances in how the odds are priced.
How do moneyline odds work for favorites (minus)?
A favorite carries a minus (-) number, which tells you how much you must risk to profit $100. The favorite is the side the market expects to win, so you pay a premium for that perceived edge.
For example, odds of -150 mean you would risk $150 to win $100 in profit (returning $250 total if it cashes). A larger minus number, such as -300, signals a heavier favorite and a smaller payout relative to your stake. You do not have to wager exactly $100 — that figure is just the standard reference point. A $15 bet at -150 would win $10 in profit.
How do moneyline odds work for underdogs (plus)?
An underdog carries a plus (+) number, which tells you how much profit you win on a $100 stake. The underdog is the side the market expects to lose, so you are rewarded with a bigger payout for taking that risk.
For example, odds of +130 mean a $100 bet would return $130 in profit ($230 total) if the underdog wins. A larger plus number, such as +250, indicates a longer shot and a more lucrative payout. The wider the gap between the two prices, the more lopsided the matchup is in the market’s eyes.
How do you calculate the payout on a moneyline bet?
The math is straightforward once you know which side of $100 you are on. For favorites, divide 100 by the odds (ignoring the sign) and multiply by your stake. For underdogs, divide the odds by 100 and multiply by your stake.
- Favorite at -200: a $50 bet wins $50 ÷ (200 ÷ 100) = $25 profit.
- Underdog at +180: a $50 bet wins $50 × (180 ÷ 100) = $90 profit.
Your total return is always your profit plus your original stake. Most online sportsbooks calculate this automatically in the bet slip, but understanding the formula helps you compare prices across books and spot the better number.
What is implied probability, and how do you read it from moneyline odds?
Implied probability is the chance of winning that a given set of odds reflects, expressed as a percentage. It lets you translate a moneyline into the break-even win rate you would need for the bet to be profitable over time.
For a minus-priced favorite, the formula is the odds divided by (the odds plus 100). So -150 implies 150 ÷ 250 = 60%. For a plus-priced underdog, it is 100 divided by (the odds plus 100). So +150 implies 100 ÷ 250 = 40%. If your own analysis suggests a team wins more often than its implied probability, the data points to value on that side. Note that the two sides of a game add up to more than 100% — that extra slice is the sportsbook’s built-in margin, often called the “vig” or “juice.”
How is a moneyline different from a point spread?
A moneyline only asks who wins, while a point spread requires a team to win or lose by a certain margin to cash. With a spread, a favorite must win by more than the listed number and an underdog can lose by less than it and still cover.
Moneylines tend to be favored in lower-scoring sports like baseball, hockey, and soccer, where margins are tight, while spreads dominate higher-scoring sports like football and basketball. Many bettors compare both markets before deciding which structure offers better value for a particular matchup.
Where can you bet moneylines online?
Virtually every offshore sportsbook posts moneylines on all major sports and many minor ones. Books such as Bovada, BetOnline, and BookMaker list moneyline prices alongside spreads and totals on every game board.
Because the same matchup can be priced slightly differently from one book to the next, comparing numbers — a practice called line shopping — can meaningfully improve your long-term return. For a full breakdown of reputable options, see our best sportsbooks rankings.
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Frequently Asked Questions
What does a minus sign mean on a moneyline?
A minus sign marks the favorite and shows how much you must risk to win $100. For instance, -150 means a $150 stake returns $100 in profit. The larger the minus number, the heavier the favorite and the smaller your relative payout.
What does a plus sign mean on a moneyline?
A plus sign marks the underdog and shows how much profit a $100 bet would earn. Odds of +130 mean $100 wins $130. A larger plus number indicates a longer shot and a bigger potential payout.
Can a moneyline bet end in a push?
In most sports, a moneyline cannot push because there is no margin to cover — one side wins outright. In sports or formats that allow ties, some books offer a three-way moneyline (win, lose, draw), while others void or refund the bet if the game ends level. Always check the book’s rules.
Is the moneyline favorite always the better bet?
No. A favorite is more likely to win, but its shorter price means a smaller payout, so it is not automatically the smarter wager. Value comes from finding a side whose true chance of winning exceeds the implied probability in the odds, whether that side is the favorite or the underdog.
How do I know if a moneyline offers good value?
Compare the odds’ implied probability to your own estimate of each side’s chance of winning. If you believe a team wins more often than the percentage baked into the price, the data points to value. Line shopping across multiple sportsbooks also helps you secure the most favorable number.