Moneyline bets are one of three elementary sports bets, the other being totals (over/under) and spread betting. No matter how simple this bet seems, if you haven’t played in a while, you might want to brush up on your understanding of moneyline betting.
Our quick-read guide offers introductory-level explanations and discusses the concept from every angle.
Moneyline Betting Explained
Moneyline bets involve predicting a game’s winner. In football, tennis, or a boxing match, a moneyline bet means betting on one of two sides to win—not the winner of halftime, a set winner (in tennis), or a round winner (boxing), but the ultimate winner when the event ends.
Some sports offer two-way moneyline odds, others three-way odds. In the case of the former, one of two outcomes is possible: either side to win. In the case of the latter, a tie is also a possible outcome, in which case a moneyline bet on either team/player will lose.
Types of Moneyline Bets
In the same way there are many types of bets, there are several ways in which you can bet on the winner of a sports event.
- Live moneyline odds – Live moneyline odds allow you to bet on the likely winner while the game still takes place. Live moneyline odds change repeatedly during the course of a match.
- Early moneyline odds – Online sportsbooks typically release odds for specific match-ups several days in advance. However, ahead of major tournaments and competitions, you may be able to find early moneyline odds for the opening games of that tournament weeks, even months in advance.
- Parlays (combined) – You can create a combined ticket with two or more legs where each leg is a moneyline bet.
How Moneyline Betting Works
Calculating single-bet moneyline payouts is relatively straightforward. For example, a team with -220 odds requires a $220 bet to gain $100. A team with +160 odds will pay $160 if you bet $100.
Betting $10 on an outcome with odds of +130 would return a $13 profit with a $23 total payout. Betting, for instance, $30 on a team with -300 moneyline odds yields a $10 profit i.e. a $40 total payout.
Calculating the potential profit and payout can be challenging, depending on the amount of your bet and the odds value. It’s always handy to have a betting calculator at hand. Though sportsbooks do the math on your behalf.
Reading the Odds
Some sportsbooks allow you to adjust the odds format to decimal, fractional, or American. For this guide, we’ll use American odds. To learn more about other types of odds formats see our full odds guide.
American odds are characterized by a numerical figure preceded by a ‘+’ (plus) or a ‘-’ (minus) sign. In cases where the moneyline odds for one team/player have a plus symbol and for the opponent a minus symbol, the underdog is determined by the plus symbol, while the favorite is determined by the minus symbol.
If two teams have the a minus symbol, then the one with the higher number is the favorite. A team with -200 odds has a higher win probability compared to a team with -110 odds. On the other hand, if both teams/players have a + symbol, the one with the lower figure is the favorite. A team with +130 odds is more likely to win than a team with +300 odds.
Moneyline Odds Example
The Indiana Pacers face the Milwaukee Bucks in the first round of the NBA playoffs. On DraftKings, the moneyline odds for the Pacers are set at -105 and -115 for the Bucks. These particular odds indicate the contested nature of the game, where the Pacers are only slight favorites.
Conversely, the New Orleans Pelicans face the Oklahoma City Thunder in Game 2 with average moneyline odds of +270 and -340, respectively. The figures render OKC Thunder (-340) as the clear favorite.
Moneylines vs. Totals
With totals, you bet whether a sports game will yield over or under a specified number of points determined by the sportsbook. Betting sites provide a numerical figure representing the combined number of points scored by both teams at the end of the game. Your job is to bet whether the game will finish with more (over) or less (under) points than the sportsbook’s projected total.
Totals are completely different from moneyline bets. Moneyline bets are concerned only with either of the two sides winning, regardless of the number of points scored. Conversely, totals are concerned with the combined number of points, irrespective of who wins.
Top Sportsbooks For Moneyline Betting
Moneyline odds are prevalent at US betting sites. We already cited DraftKings as one option. FanDuel, one of DraftKings’ biggest competitors, is also worth looking into.
The value of moneyline odds is comparable among BetMGM, Caesars, and bet365, each offering moneyline markets in line with the betting industry’s standard.
We recommend checking the odds at each of the cited betting sites before taking the line. Even small discrepancies can help you get an edge in the long run.
Tips and Strategies
To find the best moneyline odds, choose a sports game, then compare the odds between sportsbooks. If you notice one site offering slightly higher or lower odds, bet on the one that provides better value.
Another tip we can give you is to avoid single-betting on absolute favorites. The potential gain is too small for small-sized bets. Instead, consider combining multiple legs of absolute favorites into a parlay where the combined odds will generate a higher potential payout.
Lastly, remember to bet with money you can afford to lose. Although moneyline bets might appear easy to win, the majority of bettors lose more often than not.
Not sure how to bet at all? Try checking out our full beginners betting guide to learn how to get started.
