Moneyline Bets Explained: How to Bet the Winner (With Examples)
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A moneyline bet is the simplest wager in sports: you pick which team or player wins, with no point spread to cover. The catch is in the price — beating a heavy favourite pays little, while backing an underdog pays more because it happens less often.
This guide breaks down how moneylines are quoted, how to turn any price into a payout and an implied probability, and where the moneyline is the smartest bet to make versus where the spread serves you better.
What a moneyline bet is
On a moneyline, you are betting only on the outright result. If your side wins the game, your bet wins, regardless of the margin — a one-point escape and a blowout pay exactly the same.
Prices are shown in American odds. A favourite carries a minus sign and a number that tells you how much you must stake to win $100. An underdog carries a plus sign and a number that tells you how much you win on a $100 stake.
How moneyline odds work
Say the Chiefs are -160 at home against the Bills at +135. The -160 means a $160 stake returns $100 profit; the +135 means a $100 stake returns $135 profit. The favourite costs more because the book judges it more likely to win.
Convert each price to an implied probability to see what the book really thinks. A -160 favourite implies about 61.5%; a +135 underdog implies about 42.6%. Add them and you get roughly 104% — the extra 4% is the hold, the book’s built-in margin.
Because each book prices independently, the best available number on a side moves around. Finding +145 on the same underdog instead of +135 is free money over a season.
Example bet walkthrough
You like the Bills at +135 and stake $50. Profit on a win is $50 × 1.35 = $67.50, and you get your $50 stake back, for a total return of $117.50. If the Bills lose, you lose the $50.
Now compare books. DraftKings has +135 but FanDuel has +145. On the same $50, +145 returns $72.50 profit instead of $67.50 — $5 more for an identical bet. That is the entire case for line shopping in one number.
Moneyline strategy tips
A few habits separate sharp moneyline bettors from the field:
- Shop every price. The difference between +135 and +145 is pure profit and costs you nothing but a second tab.
- Favour underdogs in low-scoring sports. In baseball, hockey, and soccer, a single goal or run decides games, so dogs win outright more often than their reputation suggests.
- Avoid heavy favourites priced -250 or worse on their own. The payout rarely justifies the risk on a single bet.
- Compare the moneyline to the spread. If a -160 favourite is also -3, decide whether the cushion of the spread is worth the lower payout.
- De-vig the two prices to find the fair line, then only bet when a book offers better than fair.
Best sportsbooks for moneyline betting
Moneyline value comes down to consistently good prices and fast line moves. Three books stand out:
- DraftKings — deep market coverage and competitive favourite pricing, with reliable cross-sport moneylines.
- FanDuel — frequently posts the best underdog prices in major US sports, which is where moneyline edges live.
- BetMGM — strong on secondary leagues, useful when you want a price the bigger books have not sharpened yet.
Common moneyline mistakes
Two errors quietly drain moneyline bankrolls:
- Betting big favourites as if they are safe. A -300 favourite still loses one time in four, and a single upset wipes out several winning bets.
- Ignoring the price at other books. Taking the first number you see instead of the best number you can find is the most common — and most fixable — leak in betting.
Frequently asked questions
- Is a moneyline bet just picking the winner?
- Yes. A moneyline bet wins if your team or player wins outright, no matter the margin. There is no spread to cover, so the price does all the work of balancing favourites and underdogs.
- When is the moneyline better than the spread?
- The moneyline is often the better bet on underdogs you expect to win outright, and in low-scoring sports where margins are small. The spread is usually better on favourites you expect to win comfortably.
- How do I calculate a moneyline payout?
- For a plus-money price, profit = stake × (odds ÷ 100). For a minus-money price, profit = stake ÷ (odds ÷ 100). Our odds converter does this instantly for any stake.
- Why are moneyline odds different at each sportsbook?
- Each book prices independently and shades lines toward its own customers. That is why the best price on a side varies, and why comparing books before you bet is the highest-value habit you can build.
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Educational content for informational purposes only. Not betting or financial advice. Please gamble responsibly. 21+ where applicable.