What is a Moneyline Bet? How to Read & Bet Moneylines

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A moneyline bet is the simplest wager in sports betting — you’re just picking who wins the game between the favorite and the underdog.

Below is a comprehensive guide with everything you need to know about how this sort of wager works, the risks, how odds are calculated, and the best strategies for building them. Let’s get into it:

How Does a Moneyline Bet Work?

As mentioned above, a moneyline bet is the simplest form of wagering: you’re just picking which side will win the game outright, disregarding the score. The odds determine how much money you will make. A heavy favorite might only return a small profit, while backing the underdog can lead to more money if they pull off the upset.

Moneyline betting isn’t limited to team sports like football, basketball and baseball. It also applies for individual sports like tennis or UFC, where there’s no point spread. In these competitions, betting on the moneyline just involves choosing which player or fighter you think will win. For a sport like UFC, you might see what is called a “three-way moneyline”, which is just offering the option to bet on a draw or tie. This also applies to soccer where draws occur often. Odds can also swing based on key factors such as late-breaking injury news or key players getting the start at positions like pitcher in baseball or goaltender in hockey.

From a bettor’s perspective, the moneyline is as straightforward as it gets—you’re simply putting your confidence behind one side to come out on top. 

How to Read Moneyline Odds

People are often confused about how to read moneyline odds. Most sportsbook show odds in the American format, with a plus or minus signifying the favorite underdog. Let’s get into a specific example below:

Moneyline Favorites (-)

The team that has negative odds is the favorite (expected to win). Negative odds also show how much you must bet to win $100. For example, if the Lakers are listed at -150 in an NBA game, you’d risk $150 to win $100 in profit. It works the same across sports. If Shohei Ohtani and the Dodgers are favored at -200, a $200 bet would bring back $100 in profit. The bigger the minus number, the more heavily that team is favored—and the less profit you will earn. 

Moneyline Underdogs (+)

Now, let’s get into underdogs. The team with positive odds is the underdog, meaning they’re expected to lose. Let’s say there is a college football game between Alabama and Georgia, and the Tide are the home team. The odds are listed as Alabama at -150 and Georgia at +130. Betting $10 on Georgia would net you a profit of $23, a higher payout than betting on Alabama. Many bettors are drawn to underdogs because of the bigger payout potential. The trade-off, of course, is that the chances of winning are usually much slimmer—so it’s a higher reward, but also a higher risk. 

What Is a Pick ‘Em?

Sometimes, on the moneyline, a game is designated as a pick ‘em, meaning both teams have an equal chance at winning, according to the sportsbook. Those odds will see both teams at -110. Essentially, this means the sportsbook thinks that this game or match is a coin flip. Even though it’s essentially a 50-50 bet, the book build in their cut by making both lines slightly negative. Pick ’ems tend to show up in games where teams are extremely close in skill, or in lower-scoring sports like soccer, hockey, or baseball—where outcomes can hinge on just a single play. You’re also more likely to see a pick ’em in playoff matchups. 

How to Bet the Moneyline

So how do you actually place a moneyline wager? Let’s break it down step-by-step?

1. Choose a sportsbook: pick a trusted, legal book with an interface you find easy to use, fair odds, and easy payout options. If you’re new, compare welcome promos—but prioritize reliability.

2. Find the game: navigate to the sport and league (or use the books search function). Tap the matchup you want.

3. Select the moneyline market: choose the team/player to win outright (remember, this will be the team/player with negative odds!).

4. Enter your stake: type your bet amount; the slip will calculate potential payout and show it to you before you place the bet. 

5. Confirm the bet: review that you’ve selected the correct team/player you want to wager on, and confirm you’re good with the odds and payout. Hit “place bet.” You should then see it under “Open Bets” on the interface!

Moneyline Odds: How to Calculate Moneyline Probability & Payouts

Sportsbooks determine the odds for each sporting event based on a number of factors, including injuries, home vs. road team, starting players and more. So let’s take a look at payouts and how they’re calculated. It should be mentioned that you can use online payout calculators, or, if you want to do the math yourself, there are equations.

For positive (underdog) odds, the equation is your stake x odds, divided by 100. So, if you are betting $50 on a team with +150 odds, it would be 50 x 150 divided by 100, which equals $75. So your total payout would be $125, because you get to keep your original bet total (50) should you win the bet, along with the profit of $75.

For negative (favorite) odds, the equation is your stake x 100, divided by the odds. So, if you are betting $50 on a team with -200 odds, it would be 50 x 100 divided by 200, which equals $25. So your total payout would be $75, because again, you get to keep your original bet total should you win the bet ($25 winnings plus original $50 bet). 

Best Sportsbooks for Moneyline Betting

Different sportsbook ofter different promos and offers when betting on the moneyline. Some might offer bonus bets, deposit matches, or risk-free shots that give you extra leverage. For new users, some sportsbooks require you to win your first bet before unlocking the bonus. In that case, placing a moneyline bet on a reliable favorite can be a smart, lower-risk way to get started. On the flip side, if you’re playing with a no-sweat or second-chance promo, it’s often worth swinging for an underdog since the higher payout could give you more value.

One more thing to know about moneyline bets: Find the best line! Often, books come out with this line well before games take place. For instance, the moneyline for a Week 2 NFL game will more than likely be at the conclusion of Week 1. With that, bettors can monitor where the line begins and how it moves throughout the week, possibly having an opportunity to get better odds for an underdog or favorite.  

FanDuel Moneyline

• Welcome Bonus: new users can get $300 in bonus bets if their first cash bet of at least $5 wins.
• Recurring Promotions: known for daily odds boosts and its powerful Same Game Parlay tools that let you combine multiple bets into one tailored wager.
• What Makes It Good: a sleek, intuitive app, expansive market options, excellent parlay and live-betting features, and a strong reputation as the market leader.

DraftKings Moneyline Betting

• Welcome Bonus: offers a hefty package— “bet $5, Get $300 in bonus bets” and discounts on NFL Sunday Ticket.
• Recurring Promotions: regularly features odds boosts, parlay enhancers, and fantasy/sports betting integration that rewards active users.
• What Makes It Good: extremely broad sports coverage, user-friendly mobile experience, and strong brand appeal—both to casual bettors and fantasy players alike.

BetMGM Moneyline Bets

• Welcome Bonus: “First Bet Offer” up to $1,500 back in bonus bets if your first bet loses with promo code FOXSPORTS
• Recurring Promotions: frequent booster deals, multi-sport combo offers, and loyalty perks through the MGM Rewards program.
• What Makes It Good: a robust platform with dependable promos, loyalty incentives, and broad appeal thanks to its integrated casino and sports ecosystem

bet365 Moneyline

• Welcome Bonus: you typically choose between: bet $5, Get $200 in bonus bets (win or lose), or a First Bet Safety Net up to $1,000—refunded in bonus bets if your first bet loses.
• Recurring Promotions: known for live betting tools, in-play streaming, early payouts, and frequent boosts across sports and in different markets (including niche ones).
• What Makes It Good: exceptional depth of betting markets, smooth app functionality, and pro-grade features like cash-outs and same-game parlays make it a standout, especially for live and varied sports action.

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