What is a moneyline bet?
The simplest bet in sports: pick who wins. The price tells you what you risk and what you get back.
Beginner · 2 min read
The short answer
- A moneyline is a bet on the outright winner — the margin doesn't matter.
- A negative price is the favorite: you risk more than you win. A positive price is the underdog: you win more than you risk.
- Every price states a chance of winning, and the two sides add up past 100% because the sportsbook's cut (the vig) is inside it.
- The same team is often priced better at another sportsbook, so compare before you bet.
Favorite vs. underdog
A moneyline bet is a wager on which team or player wins outright. The margin doesn't matter — a one-point win pays the same as a blowout.
American odds tell you the price. A negative number is the favorite: it's the amount you must risk to win $100. A positive number is the underdog: it's the amount you win on a $100 risk. The bigger the number, the bigger the gap the market sees between the two sides.
Example
Chiefs -150 vs. Broncos +130. Backing the Chiefs, you risk $150 to win $100 — $250 back in total. Backing the Broncos, you risk $100 to win $130 — $230 back.
Every price is also a percentage
-150 works out to about a 60% chance of winning; +130 to about 43.5%. Read a price that way and you can tell whether it looks generous or stingy.
Those two add up to more than 100%. The extra is the sportsbook's cut (the vig), built into every price you see.
When to use a moneyline
A moneyline fits when the margin doesn't matter to you — you think a side wins, but not by much — and it is the main way to bet sports without spreads, like tennis and fights.
The same team can be -150 at one sportsbook and -135 at another, so compare a few before you bet (line-shopping).
Common mistakes
- Reading +250 as 'likely to win.' A plus price means less likely, with a bigger payout to compensate.
- Treating the chance a price states as the true chance — it already includes the sportsbook's cut.
Common questions
What does a -200 moneyline mean?
Risk $200 to win $100. That price works out to about a 66.7% chance of winning.
What's the difference between a moneyline and a spread?
Moneyline: pick the straight-up winner. Spread: pick whether the favorite wins by more than the posted number of points.
Can a moneyline bet end in a tie (a push)?
Only where a draw is a possible result, such as soccer. A tie returns your stake and pays nothing. In most US moneyline markets someone always wins.