The sports betting menu is crowded with choices. Some of the wagering opportunities you’ll come across are a bit on the advanced side, but there are also ones which are straightforward and easy to wrap your head around.

Moneyline bets fall into the latter category. For these wagers, you’re simply choosing the winner of the game. That’s it. There’s no point spread to worry about or anything like that. If the side you pick wins the game, you’re golden.

A moneyline bet is one of the simplest and most common types of sports bets that you’ll see in the industry. What is a moneyline bet? A moneyline bet is a wager on who will win a game or a contest. A 'moneyline' wager refers to odds on the straight-up outcome of a game with no consideration to a point spread. In most cases, the favorite will have negative moneyline odds (less payoff for a safer bet) and the underdog will have positive moneyline odds (more payoff for a risky bet). One of the most popular ways to bet on sports is the moneyline. This common betting option is used by new, recreational and experienced bettors and it’s one of the simplest ways to make a sports bet because you’re wagering only on which team will win or lose. Odds Shark’s Moneyline Betting Guide will explain the wide variety of moneyline bets that can be made, why and how sportsbooks display the odds and how.

While the concept itself is simple, there’s more than meets the eye when it comes to the moneyline. There are times when the bets make sense, situations where you should pass, and other scenarios in which you may want to do a little shopping.

We’re going to take a detailed look at everything you need to know right here. For starters, here are the best spots to place your bets online legally and safely.

How Does the Moneyline Work?

After a quick glance at the moneyline odds, you will immediately know which side is the favorite or the underdog in a game. Oddsmakers will attach odds to both sides of the equation.

The favorite will be designated with negative odds, while the underdog will have positive odds attached. Here’s what they’ll look like at an online sportsbook using a random NFL game as an example.

• Los Angeles Rams +110
• San Francisco 49ers -130

In this fictitious game, the 49ers are favored, and bets on that side will pay out at odds of -130 if correct. For the underdog Rams, successful bets on that side pay out at odds of +110.

So how do the odds impact what the actual return will be. Here’s the math on both sides for a $100 wager.

• $100 bet at odds of +110 = potential total return of $210 (the original $100 bet plus a profit of $110).
• $100 bet at odds of -130 = potential total return of $176.90 (the original $100 stake plus a profit of $76.90).

As you can see, a successful bet at positive odds offers the chance for greater returns than successful bets at negative odds.

However, that doesn’t mean you should randomly place your wagers on underdogs and hope for the best. Normal handicapping rules apply with moneyline betting, and the goal is to place your bets on the side you feel gives you the greatest chance of being right.

What is a Moneyline Bet?

A moneyline wager is a straight bet on the winner of a game. There are no point spreads attached or any other factors to consider. The sole concern is which side will win the contest.

After taking a look at the moneyline odds for a game you’re interested in betting on, you’ll know which side is expected to win. The favorite will have negative odds attached, while the underdog has positive odds.

Once you know that, the task at hand is to handicap the game and figure out which side you like. We’ll cover some tips on handicapping in a bit. For now, just know that it’s not as complex as it may sound.

Returns are going to vary based on which side you bet on. In a nutshell, you’ll see larger returns for correct bets on underdogs, but you shouldn’t let that be the determining factor on your choices.

There will be times when you find that the underdog makes the most sense, but there will also be plenty of times when you come up with the favorite as the answer to the question.

It can be helpful to be selective with which wagers you place on the moneyline. We’ll be covering that in more detail as we move along.

Betting on Favorites vs. Underdogs

When looking at moneyline odds, the favorite and the underdog will be readily apparent.

• Chicago Bulls +120
• Houston Rockets -140

In this fictitious NBA matchup, the Rockets are a decent-sized favorite. You’ll see less of a return for betting on that side as a result, while successful wagers on the underdog Bulls would see a bigger return.

Once again, it’s important not to let the potential return be your guide. Making the correct call is the bottom line, so your choices should revolve around which side you think has the greater chance to win.

To that end, it can be helpful to break down the game first prior to worrying about what the potential return will be. After you do this enough times, you’ll be able to figure out the range of returns quickly anyway, and that can help you be more selective with your choices.

For example, you may find that huge favorites are relatively safe wagers, but that the returns aren’t what you have in mind on a long-term basis. As such, you make a concerted effort to look for other opportunities first, such as favorites at odds of -180 or less.

After breaking down enough games on the other side, you’ll begin to understand that huge underdogs are that way for a reason. Sure, they’ll come in here and there, but solely focusing on big underdogs and hoping for a big score is not a recipe for a healthy bankroll.

Balance is a big key with moneyline betting, and the ultimate return on investment is the bottom line to focus on.

Examples of Moneyline Betting

Moneyline odds are offered for all of the major North American sports. The odds are presented in the same way for each, so you’ll be able to interpret them quickly.

For example, here’s a moneyline for an MLB game with a huge favorite.

• San Francisco Giants +180
• Los Angeles Dodgers -220

At first glance, you can quickly tell that the Dodgers have a big advantage for this contest, such as a stronger overall team or a substantial edge in pitching.

Now, let’s take a look at an NHL contest which has much tighter odds.

• Boston Bruins +100
• Montreal Canadiens -120

After looking at this game, we can reasonably assume that these two squads are relatively even. The Canadiens are favored, but the gap in odds is far from substantial.

For basketball and football, point spread bets receive a ton of attention, but there’s also moneyline betting for these two sports. A common misconception is that there’s not enough value to be found on the moneyline in comparison to the spread.

If you solely focus on big favorites, that’s true. However, there are plenty of games in which the moneyline odds are tight. When you look at the point spread for these contests, you can quickly see which ones may have favorable moneyline odds.

As an example, a point spread of 2.5 points or less is a good indicator of a tight game. That being the case, the moneyline odds will have decent value on both sides that’s worth exploring.

Moneyline Betting on Close Games

Speaking of close games, you’ll come across many of these on the odds board regardless of which sport you’re focused on. When evenly-matched teams square off, it can be close to a toss-up in terms of which side will win.

Oddsmakers recognize this, and they will price the games accordingly. For example, in a really tight NFL game, you could see moneyline odds like this.

• Minnesota Vikings -105
• New Orleans Saints -115

When the odds are in such a close range, the difference in return is pretty small. However, that doesn’t mean you should flip a coin and hope for the best.

You’ll still be handicapping the game in search of a winner. It doesn’t matter how even teams may seem at first glance or according to the odds. There are almost always points of difference to be found, and you can always pass on those that are legitimately too close to call.

Moneyline Bet Odds and Line Moves

When odds are released for a slate of games, these are known as the opening lines. After they’re out, the betting public has a chance to weigh in.

Depending on how the action comes in, this can lead to a shift in lines. For example, if lots of money comes in on the favorite, odds on that side will rise in a bid to even out the action.

For bookmakers, the goal is to not be too lopsided one way or the other. If they get a ton of bets on one side and few on the other, that opens up liability on their end. To limit situations such as this, they will adjust the odds where needed in a bid to attract action on the other side.

Lines can also move based on new information that emerges after the initial release. A lineup change, trade, or previously undisclosed injury are among the things which can have an impact.

A good rule of thumb is to examine any changes from the opening line to the time you are ready to place your bets. This can point you to what the overall market sentiment is on the game, and also potentially alert you that there’s some news out there that you may have missed.

Moneyline shopping – What is it, how do you do it?

All odds are not created equal. While major sportsbook operators are typically in range, you can find some ticks of difference, especially on the moneyline.

In general, the differences won’t be eye-popping. Bookmakers that are far off the beaten path will stick out like a sore thumb. As a result, bettors will quickly jump on that line and bring it back more to the level of the general consensus.

To find these points of difference, you’ll need to engage in what’s known as line shopping. This refers to checking the odds and lines at different sportsbooks in a quest to find the best price.

If you were going to buy something online and found differing prices in a few different spots, you would naturally gravitate towards the better deal. It’s the same thing with sports betting odds.

For example, if one book is offering odds of -140 on a favorite, but another book is at -130, the better deal is at the latter. You’ll get a better return there for placing your wager on that particular game.

How to Handicap Moneyline Bets

Handicapping games can sound formidable when you’re unfamiliar with the concept. However, it can actually be a simple process if you allow it to be.

It can be quite easy to get lost in research, and that can make it just as simple to get overwhelmed with information. Especially when starting out, keep it simple and focus on the things that really matter.

Here’s a simple five-point plan that you can use as a starting point.

• The odds and lines for the game. What is this telling you?
• Overall strength of the two teams. Is there a marked difference between the squads?
• Home/road splits. How do the two teams perform in the role they have for this game?
• Key Stats. Points for and against, and other sport-specific stats that really make a difference in the outcome.
• Recent Play. Is one team playing much better than the other recently?

The process gets quicker the more times you go through it. Once you have a handle on it, you can begin to tweak and personalize it to your specifications, such as by adding more stats into the equation that you feel really impact the outcome.

Money Line Explained

The Bottom Line on Moneyline Betting

Moneyline bets are straight forward wagers in which you are simply deciding which side you think will win. For each game on the docket, oddsmakers will designate a favorite and underdog.

Which side is which will be reflected in the odds. Favorites will have negative odds, while the underdog will have positive odds. The odds tell us the likelihood of something happening, as well as what the potential return will be for our wagers.

Moneyline odds are found for all of the major sports. The odds can shift based on market action, as well as news which may develop after the initial release.

There are a number of different systems for handicapping moneyline odds. We’ve included a simple one here in this article which you can use as a starting point. As you advance with sports betting, you’ll be able to implement your own system and tweak as needed.

Moneyline bets present the most straightforward way to wager on a sports contest. A moneyline wager simply asks the bettor to choose which team will win a game, with no point spread involved.

The payout odds on the favorite and underdog can differ significantly on a moneyline bet. Using a moneyline calculator breaks down the math on the odds, which allows bettors to assess the true value on each side.

The following page includes the GamingToday.com MoneyLine Calculator, as well as several valuable tables and graphs designed to help bettors gain an edge with moneyline bets.

Moneyline Calculator

Fill in the dollar amount for your bet and the American Odds (for example -110) and calculate the implied probability and the return on the moneyline.:

What Is A Moneyline Bet?

Legal US sportsbooks generally present several different ways to wager on sports. Moneyline bets represent just one of several different wagering options, which include point spread, totals, parlays, and in-game betting.

Moneyline Bets

A moneyline wager allows the bettor to put a bet on which team or athlete will win a contest, straight up. The moneyline underdog will always pay out at better odds than the favorite.

Skilled bettors look for value on moneyline bets by evaluating teams that have a better chance of winning than the implied probability of the odds might dictate.

Moneyline favorites are listed with “-” odds, and the underdog is listed at “+” odds.

For example, here’s a look at a line offered by PointsBet on Game 1 of the 2020 World Series:

How To Bet On The Moneyline

American Odds

PointsBet sets the Los Angeles Dodgers as the favorite in the game, with -165 moneyline odds. To calculate “-” odds, divide 100 by the odds, then multiply that quotient by the amount you bet.

For example, suppose you want to calculate how much profit a $50 bet on the Dodgers would yield. First divide 100 by 165 (without the “-”), which yields 60.6. Then multiply that number by your $50 bet to arrive at the profit (60.6*$50=$30.30).

A $50 bet on the Dodgers at -165 odds would yield $30.30 in profit. The $50 wager would return $80.30 to the bettor ($30.30 profit plus the original $50 bet).

To calculate “+” odds, divide the odds by 100 and multiply that product by the amount of the wager.

A $50 bet on the Tampa Bay Rays, for instance, would calculate as 140/100 (which yields 1.4), multiplied by $50 (1.4*$50=$70). A winning $50 moneyline bet on the Rays returns $120 total to the bettor ($70 profit plus the original $50 bet.)

Decimal Odds

Decimal odds can be used to make a simple calculation of odds multiplied by wager amount to arrive at the total amount returned to the bettor.

The -165 odds on Los Angeles, for example, convert to 1.6061 decimal odds using the Gaming Today moneyline calculator. Multiplying that by a $50 bet yields $80.30, and subtracting the original bet amount yields the profit earned ($80.30-$50=$30.30).

What Is A Moneyline Calculator?

The Gaming Today Moneyline Calculator allows for quick calculations for any wager amount and payout odds. Using American, decimal, fractional, Hong Kong, Indonesian, or Malay Odds, you can input the odds and the amount of a wager and see the payout that would come if the bet is a win.

While it’s valuable to understand and be able to calculate favorite and underdog Moneyline odds for all of the different odds notations, the moneyline calculator can save a significant amount of time and energy.

One of the most important features of the Gaming Today Moneyline Calculator is the Implied Probability feature.

For any favorite or underdog input, the calculator produces the implied probability of that team winning. Astute bettors can use the calculator to find teams that have a higher actual win probability than the implied probability dictated by the odds.

The “To Win” window displays the amount of profit yielded by any combination of odds and wager amount. To calculate the return to the bettor, add the “To Win” number to the original amount of the wager.

How To Use The Moneyline Calculator To Place A Sports Bet

Suppose you wanted to put the Gaming Today Moneyline Calculator to work to decide how you wanted to bet on Game 1 of the 2020 World Series. Here’s another look at the lines offered on that game by PointsBet:

To calculate a $50 moneyline wager on the Tampa Bay Rays, input $50 in the “Bet Amount” window and put “+140” in the “American Odds” window. Hit enter or click on the “Convert Odds” button and see how the moneyline calculator converts that information into several different useful categories.

The calculator converts the “+140” odds into all of the different notations you might see used by a sportsbook.

In Gambling What Is The Moneyline Rule

The +140 American odds convert to 2.40 decimal odds, 7/5 fractional odds, 1.40 for Indonesian/Hong Kong odds, and -0.7143 Malay Odds. A tool like our moneyline calculator can be a crucial component of a betting strategy when evaluating odds at sportsbooks that use different notations.

The “Implied Probability” output tells you that at +140 odds, the Rays have a 41.67% implied probability of winning. A skilled bettor will take that bet if they think Tampa Bay’s actual chance of winning the game is higher than that.

The “To Win” output yields the profit produced if the Rays win. A $50 winning bet on the Rays yields $70 in profit and a $120 total return to the bettor ($70 profit plus the $50 original bet).

Looking for other calculators to use when sports betting? Check out:

Calculating Positive And Negative Moneyline Odds

The math used in calculating the payout on a moneyline is pretty simple. It is one of the most important first steps to understanding sports betting and is crucial to success. Below is a graph of profit won on $100 bets for negative odds. Note that it is a curve that approaches, but will never get to $0. Even -1,000,000 odds still yields some profit from a win:

And here is a graph of profit for positive numbers. The really important difference is that the line is linear. as the odds increase, so does the profit. That goes on forever.

Looking at the odds offered by the sportsbook, note whether they are negative odds (for example -110) or positive odds (for example +120). The calculation changes based on if it is a positive or negative odd. Below we work through an example of a bet of $100 at -110 moneyline odds. It is important to notice that multiplying by -1 is required to give us the positive payout:

PAYOUT = BET AMOUNT / (-1 *MONEYLINE ODDS / 100)

So that looks like:

$90.91 = $100 / (-1 * -110/100)

That also means that you will be returned that amount AND your original bet, meaning you now have $190.91. Let’s work another negative example of a $100 bet at -150:

$100 / (-1 * -150 / 100) = $66.67

Now let’s work through a positive money example. Let’s say you bet $100 at +120

PAYOUT = BET AMOUNT * ODDS / 100

That looks like:

$120 = $100 * 120 / 100

In that case, you are returned your original bet plus profit, so you now have $220.

What Is Line Movement?

Sportsbooks make money by setting lines that bring in an appropriate amount of wagers on both sides of a bet. The house offers odds that factor in a cut of overall wagers, known as vig, that goes to the sportsbook.

In the World Series Game 1 example from above, if 90% of bets come in on the Dodgers, the sportsbook stands to lose big money if Los Angeles wins. A Tampa Bay win in that situation is even more disastrous for the sportsbook.

If the bets coming in on a game are too one-sided, the line on the game will start to move to try to prompt more bets for the other side. It’s important to remember that sports betting isn’t a zero-sum game, and you’ll be losing in the long run even if you win 50% of the time.

Legal Online Sports Betting In The US

A federal mandate known as the Professional and Amateur Sports Protection Act (PASPA) was overturned in May 2018, giving US states the legal clearance to offer state-regulated sports betting. Several states now offer both retail and online sports betting, including New Jersey, Pennsylvania, Nevada, Illinois, Indiana, Colorado, and several others.

The top online sport betting brands in the US include the following:

DraftKings Sportsbook

One of the biggest brands to emerge in the booming online sports betting industry, DraftKings Sportsbook offers mobile sports wagering in eight states. The sportsbook offers every imaginable kind of wager across multiple sports.

That betting menu includes daily moneyline opportunities on all major US sports leagues, as well as numerous international leagues. A tool like the Moneyline Calculator can be an indispensable tool to use for evaluating the odds and implied win probabilities at DraftKings Sportsbook.

FanDuel Sportsbook

Another huge player in the legal sports betting market, FanDuel Sportsbook offers mobile sports wagering in seven states. Along with DraftKings Sportsbook, FanDuel Sportsbooks stands as one of the top two mobile sports betting brands in the US.

FanDuel Sportsbook’s vast selection of moneyline wagering options becomes a potentially profitable market for bettors using a moneyline calculator. Such a tool allows sharp players to compare odds across multiple sportsbooks and only place the most favorable bets.

FOX Bet

A collaboration between FOX Sports and The Stars Group, the FOX Bet brand operates online sportsbooks in New Jersey, Pennsylvania, and Colorado.

The moneyline odds at FOX Bet can vary greatly versus some of its competitors, and bettors using a moneyline calculator tool gain a significant edge versus players that don’t.

Moneyline Calculator FAQs

Yes. More than a dozen states either currently offer online sports betting or have a launch of mobile sports betting products pending.

New Jersey, Nevada, and Pennsylvania represent the three biggest online sports betting markets in the US. Other states with legal online sports wagering include Colorado, Illinois, Indiana, Iowa, West Virginia, and a few others.

The Gaming Today Moneyline Calculator can be used as a valuable resource on any moneyline bet. It’s especially useful for evaluating the implied probability of winning and payout odds.

Understanding Money Line

The moneyline bet calculator’s ability to display odds across multiple notation formats (American, Decimal, Fractional, Indonesian/Hong Kong, and Malay odds) allows bettors to compare lines across sportsbooks that use different notations.

Even if you’re a veteran sports bettor, running every bet you’re considering through the calculator provides significant benefit.

Yes. Nothing in the terms and conditions of any US legal online sportsbooks prohibits the use of a moneyline calculator.

The calculator provides computations that any person could produce with pen and paper but in a much faster and more efficient manner.

For “+” American odds, divide the odds by 100 and convert that quotient into a fraction. To convert +160 into fractional odds, for example, divide 160 by 100 (160/100) and reduce that fraction to the lowest whole number denominator. American odds of +160 would convert to 8/5 fractional odds.

For “-” American odds, divide 100 by the odds and convert to the simplest form fraction. For -160 odds, for example, the calculation looks like 100/160, which reduces to 5/8 fractional odds.

To convert “+” American odds to implied winning probability, the formula looks like this:

100 / (“+” American odds + 100)*100 = implied probability

For example, +160 odds would be calculated as 100/(160+100)*100. This converts to 100/260*100, which ends up yielding a 38.46% implied probability.

To convert “-” odds, the formula looks like this:

“-” odds / (“-” odds + 100)*100 = implied probability

For instance, -160 odds would translate to 160/(160+100)*100, converting to 160/260*100, which yields a product of 61.54. The implied probability of -160 odds is a 61.54% chance of winning.

Several online sportsbooks offer comprehensive coverage of sports and ways to bet. Some of the best choices for online sports betting in the US include DraftKings Sportsbook, FanDuel Sportsbook, PointsBet, FOX Bet, and BetMGM.