Quick Answer
A moneyline bet is a wager on which team or player will win outright. There is no point spread involved. Negative odds show the favorite, while positive odds show the underdog. For example, -150 means you must bet $150 to win $100, while +200 means a $100 bet wins $200 in profit.
For beginning sports bettors, moneylines can be intimidating, but once you understand the essentials, they’re just as easy to use as the point spread. While point spread bets are not solely determined by which team wins with the margin of victory coming into play, moneyline wagers are only settled based on who wins.
This betting guide was written by a contributor who covers U.S. sports betting markets, wagering mechanics, and sportsbook rules. The explanations below are based on standard American odds formats used by major online sportsbooks and were reviewed against current betting rules at multiple U.S.-facing sportsbooks at the time of writing.
A moneyline bet is the simplest type of sports wager you’re only picking which team or player will win the game, with no point spread involved. Odds are set based on the favorite and underdog, and they determine how much you can win.
In betting odds, “+” and “−” show risk and payout. Positive odds (+) indicate an underdog and how much profit you’d win on a $100 bet, while negative odds (−) indicate a favorite and how much you must bet to win $100.
With a moneyline, each side is assigned odds:
If your selection wins the game outright, your bet wins. If it loses, the bet loses. There are no margins or adjustments.
Moneyline bets are popular because they’re easy to understand and available across nearly all sports and sportsbooks. That said, odds can vary by sportsbook and state, and some events (like ties or overtime rules) may affect how the bet is graded.
A +200 moneyline means a $100 bet would win $200 in profit if the bet wins. It also indicates the team or player is the underdog, since positive odds show a lower implied chance of winning.
If you bet $100 on a moneyline, your payout depends on the odds listed. With positive odds, the number shows how much profit you would win on a $100 wager. With negative odds, the number shows how much you would need to risk in order to win $100.
Odds are commonly displayed using $100 as a reference amount for simplicity. You can wager more or less, and payouts will scale proportionally.
The difference between the favorite and underdog will continue to climb as the perceived gap between the favorite and the underdog increases. Combat sports use moneyline odds as well, and we sometimes see much larger moneyline disparities between fighters. In a UFC matchup, it wouldn’t be unusual to see odds such as:
Here, those betting on Shevchenko would risk $1,100 to win $100, while those taking Murphy would risk $100 to win $700.
The reason there is a variable difference between favorite and underdog odds is that bet splits on moneyline wagers can be much more heavily skewed to one side or the other than with other bet types. In point spread betting, the sportsbook hopes to have an equal amount of money wagered on each team, which will guarantee a profit. In moneyline betting, the oddsmaker realizes that more people will wager on one side or the other and can only hope to have enough wagered on each side to protect themselves from any liabilities.
Using the Shevchenko vs Murphy fight as an example, a sportsbook expects more money to be wagered on Shevchenko, as she has a much greater chance of winning the fight than Murphy. If 20 bettors collectively wager $22,000 on Shevchenko, the bookmaker hopes to receive $2,000 in wagers on Murphy from 20 other bettors. If Shevchenko wins as expected, the bookmaker will have the $2,000 on hand from the losing Murphy bettors and pay off the winners ($100 will go to the 20 bettors). However, if Murphy pulls off the upset and wins, the bookmaker will take the $22,000 from the losing Schevchenko bettors and pay off $14,000 to the winning Murphy bettors and still have $8,000 of the handle for its efforts.
Moneyline betting is generally offered on all sporting events, even those that use the point spread, such as football and basketball. A 3-point favorite in an NBA game will likely be in the neighborhood of a -160 favorite on the moneyline. The underdog will be around +140. You can always bet either way; the moneyline simply gives the bettor another option in deciding whether or not to make a wager.
Moneyline betting is available at most online sportsbooks. Odds and payouts can vary by sportsbook, so bettors often compare prices across multiple platforms before placing a wager.
The sportsbooks listed below were selected based on market availability, bet coverage, and consistency in posting standard moneyline odds. Availability and odds may vary by state and event.
Editorial Review By: Jay Sanin, Sports Betting Analyst - This article was reviewed for accuracy to ensure betting terminology, odds examples, and grading explanations reflect commonly used sportsbook rules. Betting rules may vary slightly by sportsbook and event.
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Written by
Mike McDermott has been part of the online gambling world since the early days back when dial-up connections were still a thing and online poker rooms were just starting to take off. With over 20 years in the industry, he's seen trends come and go, watched regulations tighten, and helped shape the strategies behind some of the most recognizable names in iGaming. Mike doesn’t just write about online casinos and sportsbooks he’s worked inside them. From advising on risk management and user experience to testing games for fairness and compliance, his experience runs deep. He’s consulted for operators, contributed to gambling safety initiatives, and still plays regularly to stay sharp. His goal? Simple. To help players make smarter choices, avoid shady sites, and understand the real odds behind the games. You’ll find his work quoted in major gambling publications and trusted by thousands of readers looking for real, unfiltered insights - not marketing fluff.