A moneyline bet is a wager on a team to win a game. But the odds are adjusted based on each team or player's ability, so the amount you win or lose can vary greatly, depending on the event. The sportsbook isn't giving you the better team at the same price as an inferior team.
Moneylines use American odds, which are centered around a $100 bet.
Let's look at NFL Week 1 in 2024. We expect the Chiefs to be slightly better than the Ravens this season, which is why Kansas City is –150 against Baltimore in the opener. The Ravens are +130.
- A line at -150 means you must wager $1.50 for every $1 you want to profit
- At +130, you'll win $1.30 for every $1 wagered
The moneyline between the Texans and Colts, on the other hand, is almost even, with Houston at -125 and Indianapolis at +105. That's because these two teams are expected to be much closer in ability this season.
In comparison, the point spread levels the playing field by giving the worse team a handicap but evens the payouts on both sides.
You can place point spread bets (and more) with any of Action's best sportsbooks, including bet365 and Caesars. For more information about bet365, read Action's bet365 bonus code review. To read more about Caesars, check out our Caesars Sportsbook promo code recap.
Before placing a moneyline or spread bet, make sure to check out our NFL ATS standings, NFL Picks, and NFL Odds pages.
We also have you covered with other NFL resources, such as NFL Futures, NFL Props Picks, NFL Props, and Touchdown Props!
You can learn more about the Best NFL Betting Apps and Best NFL Betting Promos by checking out our reviews!
Moneyline Wagers Explained
How it Works
Moneylines are displayed in American odds at a sportsbook like FanDuel.
A moneyline in American odds is centered around winning or wagering $100 on a given bet.
When Betting a Favorite: The odds for favorites will have a minus (-) sign and indicate the money you need to risk to win $100.
When Betting an Underdog: The odds for underdogs will have a plus (+) sign and indicate the money you'll win for every $100 risked.
Let's use a UFC fight as an example, with odds from FanDuel.
1) The Favorite
Khabib was a -290 favorite over Tony Ferguson, who was a +230 underdog.
Let's say you're betting on the favorite Khabib at -290. You need to risk $290 to win $100. If he wins, you pocket $100, plus your original $290 back.
2) The Underdog
If you're betting on Ferguson at +230, a $100 bet would win you $230, plus your original $100 back.
You don't need to bet $100 on everything of course — that's just how the odds are displayed — and these moneyline odds scale to any bet amounts.
It's often easier to think about American odds in $1 increments — for every $1 you want to win betting on Khabib, you have to risk $2.90. For every $1 risked on Ferguson, you'd win $2.30.
You can use our odds calculator to make non-round, more difficult conversions. And sportsbooks will always calculate the payouts for you.
The basic formulas to calculate them on your own are below.
How to Make a Moneyline Bet
Making a moneyline bet at a sportsbook like FanDuel is easy, and no different than making a point spread bet.
- Find your desired sport
- Click the moneyline next to the team or player you want to bet to highlight it.
- Head to your bet slip on the right side of your screen
- Click "Login & Place Bets"
You can place moneyline bets with sportsbooks like Fanatics, BetMGM, and PointsBet. Be sure to get started by taking advantage of welcome offers such as the Fanatics Sportsbook promo, the BetMGM bonus code, and/or the PointsBet promo code. An exciting new sportsbook has entered the market as well — ESPN BET. Keep track of updates regarding ESPN's sportsbook offering by reading our ESPN BET promo code and review.
If you're not in a legal sports betting state, or one with only in-person betting, you can take advantage of social sportsbook or DFS bonuses like the Fliff Promo Code, Underdog Fantasy Promo Code, Sleeper Fantasy Promo Code, and PrizePicks Promo Code to get a similar experience.
How to Calculate Moneyline Odds
Sportsbooks will always make the calculations for you. But if you want to calculate moneyline payouts on your own, here's the easiest way:
Favorite: Multiply the amount you want to win by (Moneyline / 100)
So if you want to win $35 betting on Khabib at -290, you'll do the following formula and arrive at a $101.50 bet:
Win Amount x ((-1 x Moneyline)/100) = Wager
$35 x 2.9 = $101.5
Underdog: Multiply your wager by (Moneyline / 100), or divide the amount you want to win by (100 / (100 / Moneyline)).
So if you want to win $100 on Ferguson, you would do the following and arrive at a $43.48 bet:
Win Amount / (230 / 100) = Wager
$100 / 2.3 = $43.48
Here's another example where the odds are closer to 50/50.
For every $1 bet on Darren Til, you'll win $1.02.
So a $50 bet on Till wins $51 (50 x 1.02).
For every $1.20 risked on Robert Whittaker, you'll win $1.
So a $50 bet on Whittaker wins $41.65.
Why Would I Bet a Moneyline?
In low-scoring sports like baseball and hockey, the moneyline is the most popular bet.
In higher-scoring sports like football and basketball, the point spread is the most popular.
But the moneyline is a good alternative if you…
- Think the underdog will win the game straight-up
- Think the favorite will win but not cover the spread
This is an oversimplification, but these are generally two reasons people bet moneylines.
Here is a recommended resource list to help you bet smartly on football:
- How to Bet on Football Guide
- Check our Expert NFL Picks
- Bettors can keep an eye on betting activity and distribution with our NFL Public Betting data.
Is There Juice on a Moneyline?
Juice is the cut a sportsbook takes on each bet, and there is juice on moneylines. It's the gap in between two moneylines.
Sportsbooks aren't letting you off the hook that easy, after all.
That's why you have to risk more to bet on a favorite than you would win betting on the underdog.
Take this hypothetical Duke–Kentucky college basketball game in which Duke is a 2.5-point favorite. Here's what the moneylines might look like.
- Duke -140
- Kentucky +120
The implied probability of the Duke winning is 58.33%. For Kentucky, it's 45.45%. That adds up to 103.8%, meaning the sportsbook has a 3.8% hold on this wager.
Some books will offer 10-cent lines on baseball moneylines, meaning a -140/+120 moneyline would turn into -135/+125, which is quite advantageous for the bettor.
Legalized online North Carolina sports betting is live! Learn more about the sportsbooks discussed in this article by checking out our best North Carolina sports betting apps page now that beting is legal. BetMGM and FanDuel were among the first of the apps to launch now that legal wagering is live in the Tar Heel State. Learn more by checking out our BetMGM North Carolina bonus code and the FanDuel North Carolina promo code.
Stay up to date and keep track of all of the states with legal sports betting to see what the status of legal mobile sports betting is in your location.
Here are a couple of recommended resources to help you bet with insight on college basketball:
Next in Betting Education 101: Juice in Sports Betting
