Moneyline bet is one of the simplest forms of wager in sports betting. It is a bet with two or three outcomes in which team A or team B wins the game. There’s no point spread and no conditions.
But the odds of Moneyline depend on each team or player’s ability. Also, depending on the event, the amount you win or lose can vary greatly.
Types of Outcomes on a Moneyline Bet
Win: You will win the bet when selecting the winning player or team – or a draw. A draw is an option in a soccer/European football match or a boxing/MMA match.
Loss: You will lose the wager when you fail to choose the winning player or team. You will also lose if you do not select ‘draw’ in a game when needed.
Draw or Draw no bet: A “Draw no bet” occurs when there is no option of draw offered in the Moneyline betting. It mostly happens in soccer matches where Moneyline bet only offers the chance for either team to win. On the other hand, if the drawn option is available, then you are only able to win the wager if you selected a draw as the outcome.
How Does Moneyline Betting Work?
In Moneyline betting, you get two options: a straight-up bet on the favorite or a straight-up bet on the underdog.
When betting a favorite: The odds for favorites will have a negative that indicates the money you need to risk to win $100.
When Betting an Underdog: The odds for underdogs will be a positive sign, which indicates the money you’ll win for every $100 risked. In simple words, the positive numbers indicate how you win for risking $100. And, the negative numbers indicate how you risk winning $100. The odds for each bet depend on which side you choose.
Let’s understand it with examples of games:
Boston is the favorite here as it has a negative sign in front of the number. It means bet $170 to win $100.
Calgary is the underdog as it has a positive sign in front of the number. It means you need to place a bet of $100 to win $150.
Premier League Soccer – Draw or No Bet
Manchester United -550
Manchester United is the favorite. It risks $550 to win $100.
Newcastle is the underdog. It needs a bet of $100 to win $375.
The final payout includes the original bet plus winnings.
How to Calculate Moneyline Odds
Sportsbooks can help you calculate the Moneyline odds. But, if you want to calculate the Moneyline payouts manually, here are the ways:
Favorite: Multiply the amount you want to win by (ML / 100). The quotient is the payout for taking the favorite. For example, if you want to win $50 betting on Khabib at -300, you’ll do the following formula and arrive at a $150 bet:
Win Amount x ((-1 x Moneyline)/100) = Wager
$50 x 3 = $150
Underdog: Multiply your wager by (ML / 100), or divide the amount you want to win by (100 / (100 / Moneyline)). The product is the payout for taking the underdog.
For example, if you want to win $100 on Ferguson at +200, you would do the following and arrive at a $50 bet:
Win Amount / (+1 x Moneyline / 100) = Wager
$100 / 2 = $50
Tips for Moneyline Betting
- Try to compare numbers to find the value of the bet.
- Buy Moneyline values from different sportsbooks.
- Use the Moneyline bet when having full faith in the underdog. They can offer a higher expected value than a spread bet.
- Use Moneyline betting for sports like hockey, baseball, boxing, golf, or tennis.
- Try not to risk $300 or more to win $100 when you could bet $120 to win $100.