Moneyline

A moneyline bet is the simplest form of sports wager: you bet on which team or player will win the game outright, with no point spread involved. Odds are expressed as positive or negative numbers. Negative numbers indicate the favorite: -150 means you must bet $150 to win $100. Positive numbers indicate the underdog: +150 means a $100 bet wins $150.

Moneyline odds reflect the implied probability of each outcome. A -200 favorite has an implied probability of 66.7%, while a +200 underdog has an implied probability of 33.3%. The total implied probability always exceeds 100% because of the bookmaker's margin (vigorish). The difference between the total implied probability and 100% represents the bookmaker's built-in profit.

Betting favorites on the moneyline means risking more to win less, but with a higher probability of winning. Betting underdogs means risking less for a potentially larger return, but with a lower probability. Neither approach is inherently better. Value exists when the true probability of an outcome differs from the implied probability of the odds offered.

Moneylines are available for most major sports but are particularly popular in baseball, hockey, and soccer where games are frequently decided by one or two goals/runs and point spreads are less practical. In football and basketball, moneylines are available alongside point spreads, giving bettors multiple ways to wager on the same game.