- Moneyline bets in plain English
- What the minus and plus numbers tell you
- Working out returns on any stake
- Moneyline odds when two teams are level
- Moneyline betting when a draw is possible
- Other odds formats you might see
- Why moneyline odds change before a game
- Moneyline against the point spread
- Age limits and where to find support
- Explaining odds for a living
- Frequently asked questions
A moneyline bet is a wager on which team or player wins the game outright, with no point spread. In American odds, a minus number marks the favourite and shows what you'd risk to make 100 of profit. A plus number marks the underdog and shows the profit on a 100 stake.
Moneyline is the simplest bet in American sport to understand, and the odds that come with it are the part that trips people up. Numbers like -165 and +140 look odd if you grew up with fractions such as 5/2 or decimals such as 3.50.
I've pulled this together from Caesars Sportsbook's moneyline guide, the Gambling Commission and the NHS. It's a neutral explainer for adults, not a recommendation to bet, and the numbers are illustrations. Support for anyone worried about gambling is listed near the end.
Moneyline bets in plain English
A moneyline bet is a wager on which team or player wins the game or match outright. Caesars is clear that the point spread and the margin of victory don't matter. Each side gets odds that show which one the market favours and what a correct pick returns.
Most team sports use a two-way moneyline, with two possible outcomes. In individual sports such as tennis, MMA and golf, Caesars says the moneyline is the main bet type.
What the minus and plus numbers tell you
US sportsbooks mostly use American odds. The sign tells you who's expected to win, and the number tells you what a correct pick returns:
- A minus number is the favourite. The number is how much you'd have to risk to make a profit of 100. At -165 you'd risk 165 units to make 100 units of profit. The bigger the minus number, the heavier the favourite and the smaller the profit compared with the stake.
- A plus number is the underdog. The number is the profit on a 100 unit stake. At +140, a 100 unit stake would return 140 units of profit, or 240 in total. The bigger the plus number, the bigger the potential return and the less likely the market thinks that result is.
The 100 is only a reference point. You can use the same system for any stake.
Working out returns on any stake
Caesars gives two simple formulas. For a favourite, profit is 100 divided by the odds number, multiplied by your stake. For an underdog, profit is the odds number divided by 100, multiplied by your stake. Add the stake back to get the total return.
| Example odds | Stake of 50 units | Profit if it wins | Total return |
|---|---|---|---|
| -165 (favourite) | 50 | 30.30 | 80.30 |
| +140 (underdog) | 50 | 70.00 | 120.00 |
| -150 | 50 | 33.33 | 83.33 |
| +200 | 50 | 100.00 | 150.00 |
The first two rows come from Caesars' worked examples, and the last two from its reference table for a 50 unit wager. In practice, the bet slip does the sum for you once you enter a stake.
Moneyline odds when two teams are level
Not every game has a clear favourite, and the moneyline reflects that.
When both sides look roughly equal, Caesars says they're offered near even, such as -110 on each, and this is often called a pick 'em. Both sides can sit slightly below +100 because the sportsbook's commission, the vig, is built into the odds on both sides. Caesars adds that this is why the implied chances of the two outcomes add up to more than the whole.
Moneyline betting when a draw is possible
Football (soccer) and some hockey markets can use a three-way moneyline, which adds a draw as a third outcome. Caesars gives the example of USMNT at -110, Mexico at +200 and the draw at +250.
You pick exactly one result before the match. If you picked a team and the match is drawn, the bet loses. Caesars says a draw in a three-way market isn't a push or a partial refund. In a two-way market a push, which voids the bet, is uncommon.
Other odds formats you might see
American odds aren't the only way to show the same information. Caesars notes that decimal odds show the total return for each 1 unit staked, including the stake, so 2.65 means a profit of 1.65. Fractional odds show the profit for each 1 unit staked, so 3/2 means a profit of 1.50. Most US bettors see American odds, but you may meet decimal or fractional odds on some moneyline markets, especially if you read UK sources.
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If you're moving between formats, it helps to remember that they all describe the same thing: how much you'd risk and what a correct pick would return.
Why moneyline odds change before a game
Caesars says moneyline odds shift between the opening line and game time. The reasons it lists include injuries, lineups, recent form, home advantage and the amount being bet on each side. So an article that quotes odds is only a snapshot, and the number you see later can be different.
Moneyline against the point spread
The moneyline asks one question: who wins? The spread adds a margin. Caesars' spread guide compares a favourite at -280 on the moneyline with the same team at about -110 on the spread, because on the spread it needs to win by enough points. My guide to how a point spread works covers that side, and if you're curious about combining selections, what a parlay is explains how legs are linked.
Age limits and where to find support
In most cases the minimum legal age for gambling in Great Britain is 18, which includes betting shops and online gambling. In the US the age and the rules depend on the state.
The NHS lists the National Gambling Helpline on 0808 8020 133, free and open 24 hours a day, for information, support and counselling. Your GP can also point you to local services.
Explaining odds for a living
Plain explanations of odds formats help readers understand what a bet involves before they place one.
Writers in this niche can browse betting blogs open to contributor articles.
Frequently asked questions
What does moneyline mean in betting?
It's a bet on which team or player wins outright. The margin of victory doesn't matter, and each side has odds that show who is favoured.
What does -165 mean?
It's American odds for a favourite. It means you'd risk 165 units to make 100 units of profit.
What does +140 mean?
It's American odds for an underdog. A 100 unit stake would return 140 units of profit, or 240 units in total, if it wins.
Can a moneyline bet end in a draw?
In a two-way market there's usually a winner. In a three-way market, which is common in football, a draw is its own outcome, and a bet on a team loses if the match is drawn.
How old do you need to be to place a moneyline bet?
In most cases the minimum legal age for gambling in Great Britain is 18. In the US it varies by state.
