Moneyline Explained

Everyone makes moneyline bets without even knowing it. Even non-gamblers make moneyline bets. Betting the moneyline for a game is possibly the most simple way to wager on sports. Bettors just choose a player or team to win. If the bettor chooses the winning side, the sportsbook will pay the amount due. It’s really that simple.

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• Moneyline Bets Explained
• Moneyline
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The moneyline numbers next to each team are American odds which: indicate each team’s implied probability; determine how much money you would win, based on your wager. The team that has a “+” sign on next to its moneyline number is the underdog, while the team with “-” next to its moneyline number is seen by your sportsbook as the favorite. A moneyline bet is picking which team will win a game. There is no spread or line associated. 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.

There’s no point spread with a moneyline bet. Bettors are just picking the winning side. While placing a wager is simple, trying to understand how the moneyline pays might be a bit complicated. Both sides of each moneyline wager are paid on a different schedule and that could make this kind of bet confusing.

The favorite team or player on the moneyline is the team that’s expected to win. This side of the bet usually listed with a minus (-) sign. The underdog team or player on the moneyline is the team that’s expected to lose. This side of the moneyline is usually listed with a plus (+) sign. These signs signify how either side of the wager will pay. The minus side will pay less than original wager while the plus side will pay more than the original wager.

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Example of a moneyline wager

Low scoring sports like baseball, soccer, and hockey are usually bet on using a moneyline. But they are also popular in football. The best way to explain how moneyline bets are paid is with an actual example. Let’s use the upcoming Super Bowl between the Kansas City Chiefs and Tampa Bay Buccaneers as an example.

The easiest way to understand moneyline wagers is by using a $100 bet. Using the above example, the moneyline on the underdog Buccaneers opened at +148 (currently ). At +148 odds, a $100 wager would pay $148 in profit if the Buccaneers won the game (for a total payout of $248). Bettors often like picking underdogs because they are usually “plus” money. This side of the moneyline bet pays out more money per unit than a wager on the favorite.

In this example, the moneyline on the favorite Chiefs opened at -176 (currently ). At -176 odds, a bettor would need to wager $176 to win $100. Since the favorite is considered the team with the better chance to win, a winning wager will usually pay out less than the original amount wagered.

Looking deeper into moneyline wagers

The two sides of each moneyline wager are essentially the opposite of each other. When wagering on the favorite it’s easiest to work from the dollar amount that will return a win of $100. When wagering on an underdog it’s easiest to understand how the moneyline pays based on how much a $100 wager will pay.

Understanding how a moneyline wager pays isn’t simple but it’s not very complicated. That said, it might take running through a few examples before fully grasping the payouts. Moneylines for football and basketball games are often tied to the point spread. When a game has a large point spread it usually has a large moneyline. Both are separate bets but are shown together in a sports wagering app screen and in a brick and mortar sportsbook.

As seen above, lines and odds may be different at various sportsbooks so consider this just an example of point spread line and a moneyline.

ALSO READ: 5 Fun Super Bowl prop bets to consider

Moneyline parlays

Moneyline parlays are growing in popularity. A parlay is a single wager that is comprised of multiple results. The payout for a parlay is greater than an individual wager on each player or game. Underdog moneyline parlays are becoming popular because the payouts can be very large. Moneyline parlays are becoming popular because of the perceived ease of choosing multiple favorites to win. Choosing one winner is difficult and multiple winners at the same time is even more difficult.

Moneylines are one of the most common types of bets in sports betting. Few, if any, sportsbooks do not offer moneyline wagers to their customers.

Since sports betting is new in Colorado, it’s important that Coloradans understand this common betting type. So, here is a handy guide on moneylines, complete with numerous examples to show how they work.

How the moneyline works

First and foremost, let’s define what a moneyline bet is. Simply put, a moneyline bet is a wager on which team will win the game or match.

Unlike other types of wagers, it does not matter what the margin of victory is or how many points the teams score. All that matters is which team or competitors emerge as victorious.

Moneyline bets are denoted on a sportsbook’s display by three-digit numbers that are next to each team’s name. In each contest, one of these numbers will be positive, and the other one will be negative.

One advantage of betting on the moneyline is that the sportsbook’s profit is baked into the line itself. So, unlike point spreads or totals bets, there is no need to pay any vig on top of your wager.

What the numbers mean

The team with the positive number next to it is the underdog, or the team expected to lose. The team with the negative number is the favorite, and is most likely to prevail.

The numbers let bettors know the payouts associated with betting each side of the game. The positive number is the payout amount that a winning bet will receive on a $100 wager. The negative number is the amount that a bettor must wager in order to win $100.

Of course, these payouts are not hard-and-fast amounts. Rather, they are expressions of the proportions that the sportsbook is using for that particular game.

In fact, positive moneylines are convertible into straight odds for those who wish to do a few calculations. One rule of thumb is that every 100 that the positive moneyline increases corresponds with another whole number of odds.

So, for instance, a +100 moneyline is a 1:1 odds bet, while a +200 moneyline is a 2:1 odds bet. A +300 moneyline is 3:1, and so on.

If that’s confusing, don’t worry. It’s a lot easier to understand with some practical examples.

Moneyline betting examples

The following examples should help illustrate how moneyline bets work. All of these entries are actual bets that were featured on DraftKings Sportsbook.

Money Line Explained Football

Bear in mind that a payout is simply the profit you can expect to realize on the bet. So, if you win, you will receive the payout plus your original bet back.

NFL: Super Bowl LIV

Chiefs: -122
49ers: +108

Explanation: So, in this scenario, the Kansas City Chiefs were the favorite to win Super Bowl LIV. However, given how close each number is to 100, the sportsbook clearly believed that it would be a tight ballgame.

To that end, a $100 wager on this game would only pay out $108. Expressed as straight odds, the 49ers were only a 1.08:1 underdog.

Sample payouts (assuming that the bet were to win)

• $100 on the Chiefs – $81.97 profit, $181.97 total
• $100 on the 49ers – $108 profit, $208 total
• $122 on the Chiefs – $100 profit, $222 total
• $122 on the 49ers – $131.76 profit, $253.76 total
• $50 on the Chiefs – $40.98 profit, $90.98 total
• $50 on the 49ers – $54 profit, $104 total
• $5 on the Chiefs – $4.10 profit, $9.10 total
• $5 on the 49ers – $5.40 profit, $10.40 total

NBA: Cleveland Cavaliers (CLE) vs. Oklahoma City Thunder (OKC)

CLE: +650
OKC: -910

Explanation: The larger numbers indicate that DraftKings did not expect the final result to be close. At the time, Oklahoma City’s record stood 10 games over .500, while Cleveland had lost 25 more games than it had won.

So, since the sportsbook felt that a certain outcome was particularly likely, bettors who took that side stood to profit very little. On the other hand, if Cleveland did manage to pull off the upset, then a bet would pay off quite handsomely.

Sample payouts

• $100 on CLE – $650 profit, $750 total
• $100 on OKC – $10.99 profit, $110.99 total
• $910 on CLE – $5915 profit, $6925 total
• $910 on OKC – $100 profit, $1010 total
• $50 on CLE – $325 profit, $375 total
• $50 on OKC – $5.49 profit, $55.49 total
• $5 on CLE – $32.50 profit, $37.50 total
• $5 on OKC – $0.55 profit, $5.55 total

NCAAB: McNeese State (MNS) vs. Texas A&M – CC (TACC)

MNS: -110
TACC: -110

Explanation: Occasionally, two teams are so evenly matched that they both feature negative moneylines. In this case, the sportsbook simply does not feel comfortable about predicting the outcome to the point that it will pay extra if the underdog wins.

One thing to bear in mind about moneylines is that point spreads for the same match can reveal further information about the rationale behind where the line is. In this case, DraftKings has set McNeese State as a mere 0.5-point favorite, so the game really could go in either direction.

Moneyline Bets Explained

Sample Payouts

In this case, since both lines are the same, the payouts will be the same, too.

• $100 on either – $90.91 profit, $190.91 total
• $110 on either – $100 profit, $210 total
• $50 on either – $45.45 profit, $95.45 total
• $5 on either – $4.55 profit, $9.55 total

Other uses for moneylines

Although moneylines are a betting type in their own right, the moneyline format appears in a few other places throughout most sportsbooks. For instance, books use a similar three-digit number to add in their vig to point spread and totals bets.

Though they don’t mean quite the same thing, they serve to inform bettors about how much they’ll have to lay to win $100 on a particular spread or over/under. The same rule about betting favorites on the moneyline – the negative number is how much to wager to win $100 – applies here.

However, moneylines also show up as a format to declare straight odds on various wagers. Notably, futures bets are often expressed in terms of moneylines.

Most recent betting guides

Example: NBA team futures

Futures bets are wagers on cumulative long-term events. A futures bet might pertain to a season award or an eventual champion.

In that vein, DraftKings has established a futures section for betting on the eventual NBA champion for the 2019-2020 season. Each team in the league appears on a list with a positive moneyline next to it.

Here are the listings for the top 11 teams:

• Los Angeles Clippers: +300
• Los Angeles Lakers: +300
• Milwaukee Bucks: +320
• Philadelphia 76ers: +1200
• Houston Rockets: +1500
• Boston Celtics: +2000
• Denver Nuggets: +2000
• Utah Jazz: +2000
• Dallas Mavericks: +3000
• Miami Heat: +3000
• Toronto Raptors: +3000

The first thing that sticks out about this list is that there are no teams listed as favorites (negative moneylines). Quite simply, it is difficult to forecast into the future with any great certainty. Even the favorites to win it all (the two Los Angeles teams) are still underdogs against the field.

Moneyline

The other thing to notice is that dividing each moneyline by 100 quickly reveals the straight odds associated with each bet. To put it another way, here are those same bets, converted into straight odds:

Sports Betting Money Line Explained

• Los Angeles Clippers: 3/1
• Los Angeles Lakers: 3/1
• Milwaukee Bucks: 16/5 or 3.2/1
• Philadelphia 76ers: 12/1
• Houston Rockets: 15/1
• Boston Celtics: 20/1
• Denver Nuggets: 20/1
• Utah Jazz: 20/1
• Dallas Mavericks: 30/1
• Miami Heat: 30/1
• Toronto Raptors: 30/1

Point Spread

So, needless to say, these are long odds, no matter who you choose. Hopefully, however, if you choose to make a futures bet, you will at least be able to read the odds as they appear now.