To place your bet, all you need to do is click on the moneyline number attached to the team you believe is going to win the game. If you think Anaheim will win, click on the +135. If you like Nashville, click on the -135. Breaking Down the Moneyline. When betting on odds with a positive figure, you need to be $100 to make a profit of that figure in dollars. If betting on the Astros, you would only need to bet $100 to make a profit of $140 if they win. If your prediction is correct, your bet will win. Should your prediction be incorrect, your bet will lose. Moneyline bets present the most straightforward way to wager on a sports contest. A moneyline wager simply asks the bettor to choose which team will win a game, with no point spread involved. Some bettors will bet the underdog on the moneyline as well as picking the team to cover the spread in an effort to protect themselves in case one bet hits and not the other. Moneyline Parlays. One sports betting strategy some bettors go with is parlaying moneyline plays. If you are extremely confident in two or more moneyline outcomes, combine them into your wager and cash your ticket with a higher payout.
A good part of the enormous appeal of sports is that it is a results-oriented business. Heading into a game, there's plenty of time to research in a bid to figure out what may happen.
Once the game plays out and the final whistle blows, the result is in the books and there's a winner and a loser. That's when it's time to analyze what happened and why.
All of that translates over quite nicely to sports betting too. That's a bottom-line business as well, and a moneyline bet is the most cut and dried of them all.
The only thing you need to worry about is picking the winner of the game. If you manage to do so, you'll earn a profit on your wager.
Afterward, you can rinse and repeat and try again. Moneyline is a great entry point for those new to betting, and a staple in the playbook for many seasoned handicappers. Here's what you need to know.
What is the moneyline in sports betting?
A moneyline bet is among the simplest sports wagers you'll find. The only requirement is to pick the winner of the game and that's it.
There are no additional points to worry about or any other extraneous circumstances. Betting on the moneyline is simply about winners and losers.
It's a standard offering at sportsbooks and generally among the featured listings in the main betting lobby for online and mobile platforms.
For an example, let's take a look at a standard listing for an Indianapolis Colts game.
We can see that the Jaguars are set to take on the Colts, who are pretty hefty 9.5-point favorites. To the right of the spread we see the moneyline odds, which also reflect the fact that Indianapolis is a big favorite.
To bet on either side in this game, you simply click on the box for your choice. If you click on the Colts at moneyline odds of -390, that choice will automatically be added to the betting ticket.
From there, it's just a matter of typing in the amount of your bet and clicking submit. For your reference, a standard $100 bet at moneyline odds of -390 would return $125.60 — the original stake plus winnings of $25.60.
Moneyline betting odds explained
The odds listings for moneyline are generally very straightforward as well. The favorite for a game will be designated with negative odds, while the odds will be positive on the underdog side.
- Cleveland Cavaliers +155
- Indiana Pacers -175
In the above example, the odds tell us that the Pacers are a clear favorite over the Cavaliers. We can dig into the game further from this point and then make our choice.
To understand what the potential return would be, we can plug in a bet on the slip and make sure we don't hit submit. Here's what the math looks like.
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- A $100 winning bet on the Cavaliers at odds of +155 would return a total of $255 — the stake plus a profit of $155.
- A $100 winning bet on the Pacers at odds of -175 returns a total of $157.10 — the amount of the initial bet plus winnings of $57.10.
As you can see, betting on underdogs can be potentially more lucrative, but don't let that be the driving force behind your decision-making.
The idea is to win more often than you lose when it comes to betting and to make a profit along the way. As such, your choices should be determined by which side you feel most confident about.
Many sets of moneyline odds will have clear favorites and underdogs, but there are times when the game sets up as closer than that. Here's an example.
- Columbus Blue Jackets -105
- Pittsburgh Penguins -115
As the oddsmakers see this NHL game, it's close to being a toss-up. Both sides have negative odds to reflect that, and they may fluctuate as the game approaches based on market action. Here's the potential return on both sides of the equation.
- A $100 winning bet on the Blue Jackets at odds of -105 would return a total of $195.20 — the stake plus a profit of $95.20.
- A $100 winning bet on the Penguins at odds of -115 returns a total of $187.00 — the amount of the initial bet plus winnings of $87.00.
Moneyline odds can help you quickly get a handle on a slate of games. You'll know which side is expected to win, and after a little bit of practice, you'll be able to figure out what type of returns you might see on winning bets.
The straightforward nature of the bet makes it an excellent place to begin for new bettors. At the same time, bettors with more experience can also lean on it for somewhat more predictable returns in comparison to other bet types.
How to bet on the moneyline
As with all of the bet types on the wagering menu, practice, patience and persistence can help cut down on the learning curve relatively quickly. To that end, let's take a look at some examples of how to bet on the moneyline for several major sports.
NFL moneyline betting
In terms of overall betting volume, the NFL is the most popular offering at sportsbooks. While point spreads and totals attract plenty of attention, there's also the opportunity to keep it simple and focus on the moneyline.
For a point spread, bettors need to factor in what's basically an estimated margin of victory and choose the favorite or the underdog to 'cover.' There's no need to do that with the moneyline as it's simply about which side will win.
- Houston Texans +120
- Indianapolis Colts -140
In the above example, the Colts are slight favorites over the Texans. A winning $100 bet on Houston would lead to a profit of $120, while a correct $100 bet on the Indianapolis side translates into winnings of $71.40.
NBA moneyline betting
The NBA is another of the most popular choices on the betting menu, and also a sport in which the spread and totals attract numerous bets. Moneyline is also offered, so bettors therefore have the option to bottom-line the contest and merely worry about which side will win.
- Detroit Pistons +110
- Indiana Pacers -130
A glance at the odds board tells us that the Pacers are the favorites, but the tight range also lets us know that the game is expected to be pretty close.
If we place a $100 bet on the Pistons side and they go on to win, we'll be rewarded with winnings of $110. For a correct $100 bet on Indiana, the return would be $76.90.
MLB moneyline betting
Moneyline is the most popular bet type for MLB. There's a run line option as well, but the standard is set at 1.5, meaning that the winning side needs to win by more than that while the underdog can cover by keeping it closer than that margin.
The starting pitching matchup is the biggest driver for the odds you'll see displayed each day. When a big mismatch looks like it's on tap, that'll be reflected in the odds you'll see.
- Seattle Mariners +190
- New York Yankees -240
The odds are telling us that the Yankees are really big favorites, so it'll be quite the upset if the Mariners are able to pull this one out.
Naturally, your research may tell you different, so be sure to take the time to break down the games as opposed to just randomly picking huge favorites and calling it a day.
A $100 winning bet on Seattle at odds of +190 would deliver a profit of $190, while a winning $100 bet on the New York side would net $41.70.
NHL moneyline betting
Betting on the NHL is similar to MLB. There's a puck line that's typically set at 1.5 for each game, but moneyline is the biggest driver for betting action.
The regular season is a grind for all sports, and upsets happen on every slate of games as a result. It's important to remember that the odds are pointing you toward the most likely outcome based on the information at hand.
- Ottawa Senators +135
- Toronto Maple Leafs -155
According to the odds, the Maple Leafs should win this game. However, closer examination could tell you a different story. In short, don't be shy about digging in to spot potential upsets, as hitting on some of them can make a big difference for your bankroll.
For this example game, a winning $100 bet on the Senators returns $135, while a correct $100 bet on Toronto would result in a return of $64.50.
College basketball moneyline betting
For experienced handicappers, college basketball is an incredibly popular sport. The point spread attracts tons of attention, but there are also returns to be found on the moneyline.
Moneyline is also a great way to break in for those who are looking to get in on the action with a new sport. As opposed to worrying about what the final margin of the game will be, moneyline bettors only need to focus on which side is going to win.
- Wisconsin +120
- Indiana -140
After getting a good handle on the moneyline and breaking down games, branching out into other wager types such as spreads and totals will be less challenging.
For this example, a winning $100 bet on the Wisconsin side returns $120, while a correct $100 wager on Indiana leads to a profit of $71.40.
College football moneyline betting
Saturdays in the fall and winter are the most wonderful time of the year for many sports fans, and numerous bettors share that sentiment. There are plenty of seasoned bettors who have made college football their top sport to key in on.
The weekly schedules are chock full of choices. While there are a number of marquee matchups each week, there are also lots of mismatches between powerhouse programs and smaller schools.
- The Citadel +325
- Alabama -450
Alabama is a huge favorite for this contest and expected to have its way with The Citadel. While there are no sure things in sports betting, this could be a proverbial layup for moneyline bettors.
However, if The Citadel pulls out an upset for the ages, then $100 bettors on that side are looking at a stellar return of $325. For Alabama bettors, a winning $100 bet means a profit of $22.20.
While that may not sound terribly exciting, the opportunity to make a profit of 22.2% is nothing to sneeze at. Some bettors may dismiss smaller returns as not being worthy of their time, but they can absolutely add up over the course of a season.
Finding the best moneyline odds
All sportsbooks offer moneyline betting, but not all of the odds are created equal. While most of the major operators are in range in terms of what they offer to the public, there are ticks of difference to be found.
After bets start getting placed following the initial release of lines, oddsmakers may tweak the odds in a bid to even out the action. As a result, the moneyline odds can be a bit different at one operator in comparison to another.
You can easily spot these discrepancies if you engage in a practice that has come to be known as line shopping. This means that you are checking out the odds at multiple books while hunting for the best price.
For an example, let's consider an NFL game in which the Kansas City Chiefs are a consensus favorite over the Las Vegas Raiders. Here's what the odds look like at one operator.
- Las Vegas Raiders +135
- Kansas City Chiefs -155
You do some shopping and notice that another book is offering this game at a different price.
- Las Vegas Raiders +125
- Kansas City Chiefs -145
While this may not seem like a huge difference, it can absolutely add up. Let's consider the differences for a winning $100 bet on the Chiefs side at both sets of odds.
- At odds of -155, the profit is $64.50.
- At odds of -145, the profit is $69.00.
By shopping around a bit, you have put yourself in line to earn an extra $4.50. While that doesn't move the needle all on its own, turning that trick a few times over the course of an NFL season can be a boon to the bottom line.
In today's connected world in which numerous operators are easily accessible online and via mobile, line shopping is really simple. It's worth taking the time to do it to make sure you are putting yourself in position to earn the best returns possible.
Handicapping the moneyline
Overall, the moneyline is a great simple bet to focus on for sports betting. However, that doesn't mean you can just wing it and hope to come out ahead in the long run.
There's some legwork to be done with moneyline betting, but there are also different approaches you can take. That's one of the many great things about sports betting: there's no one size fits all approach, and many different paths can lead you to success.
For some bettors, the answer is to lean on some trusted resources and then to form their own opinion from there. Some will pay for picks and advice, while others will dive in and handicap themselves.
The approach you choose is ultimately up to you, but it's a good idea to have a good handle on the basics of handicapping regardless. Beyond just teaching you how to break down the games, this can also help you to spot opinions that may be way off the mark.
Here's a quick and simple process you can use to form the basis of your own research.
- Study the odds: You need to know what the odds board is telling you and respect it. The big favorites are where they are for a reason, as are the long shots. Don't overthink it, but also don't let that discourage you from digging deeper. After all, you may uncover something that others are missing as you conduct your own research.
- Realistically assess the teams: It's important to clear the head of preconceived notions and any rooting interests before breaking down a game. If you can't do that, just pass and move on to another game. Take a detailed look at the teams involved and consider their strengths and weaknesses. By doing so, the side that is stronger overall should become apparent.
- Pay attention to recent form: Momentum is a big factor on the field of play, and that's also true for stretches during lengthy regular seasons. Top squads can go on downswings, while also-rans can get it together as the year moves along. Pay close attention to how teams have performed over their most recent games for clues on what may be to come in the near future.
- News and notes: For each game that you plan on betting on, it's imperative to take the time to review the news and notes surrounding the game. The news cycle moves fast in the world of sports, and there are often many useful nuggets to be found. Pay particularly close attention to player injuries, playing time issues and comments from coaches.
Taking the time to go through these four simple steps can help put you ahead of the curve. Once you get a handle on the process, you can expand your routine and dig in even deeper with advanced stats and metrics.
Moneyline bets present the most straightforward way to wager on a sports contest. A moneyline wager simply asks the bettor to choose which team will win a game, with no point spread involved.
The payout odds on the favorite and underdog can differ significantly on a moneyline bet. Using a moneyline calculator breaks down the math on the odds, which allows bettors to assess the true value on each side.
The following page includes the GamingToday.com MoneyLine Calculator, as well as several valuable tables and graphs designed to help bettors gain an edge with moneyline bets.
Moneyline Calculator
Fill in the dollar amount for your bet and the American Odds (for example -110) and calculate the implied probability and the return on the moneyline.:
What Is A Moneyline Bet?
Legal US sportsbooks generally present several different ways to wager on sports. Moneyline bets represent just one of several different wagering options, which include point spread, totals, parlays, and in-game betting.
Moneyline Bets
A moneyline wager allows the bettor to put a bet on which team or athlete will win a contest, straight up. The moneyline underdog will always pay out at better odds than the favorite.
Skilled bettors look for value on moneyline bets by evaluating teams that have a better chance of winning than the implied probability of the odds might dictate.
Moneyline favorites are listed with '-' odds, and the underdog is listed at '+' odds.
For example, here's a look at a line offered by PointsBet on Game 1 of the 2020 World Series:
| Point Spread | Total | Moneyline | |
|---|---|---|---|
| Tampa Bay Rays | +1.5 (-150) | Over 7.5 (+100) | +140 |
| LA Dodgers | -1.5 (+130) | Under 7.5 (-121) | -165 |
American Odds
PointsBet sets the Los Angeles Dodgers as the favorite in the game, with -165 moneyline odds. To calculate '-' odds, divide 100 by the odds, then multiply that quotient by the amount you bet.
For example, suppose you want to calculate how much profit a $50 bet on the Dodgers would yield. First divide 100 by 165 (without the '-'), which yields 60.6. Then multiply that number by your $50 bet to arrive at the profit (60.6*$50=$30.30).
A $50 bet on the Dodgers at -165 odds would yield $30.30 in profit. The $50 wager would return $80.30 to the bettor ($30.30 profit plus the original $50 bet).
To calculate '+' odds, divide the odds by 100 and multiply that product by the amount of the wager.
A $50 bet on the Tampa Bay Rays, for instance, would calculate as 140/100 (which yields 1.4), multiplied by $50 (1.4*$50=$70). A winning $50 moneyline bet on the Rays returns $120 total to the bettor ($70 profit plus the original $50 bet.)
Decimal Odds
Decimal odds can be used to make a simple calculation of odds multiplied by wager amount to arrive at the total amount returned to the bettor.
The -165 odds on Los Angeles, for example, convert to 1.6061 decimal odds using the Gaming Today moneyline calculator. Multiplying that by a $50 bet yields $80.30, and subtracting the original bet amount yields the profit earned ($80.30-$50=$30.30).
What Is A Moneyline Calculator?
The Gaming Today Moneyline Calculator allows for quick calculations for any wager amount and payout odds. Using American, decimal, fractional, Hong Kong, Indonesian, or Malay Odds, you can input the odds and the amount of a wager and see the payout that would come if the bet is a win.
While it's valuable to understand and be able to calculate favorite and underdog Moneyline odds for all of the different odds notations, the moneyline calculator can save a significant amount of time and energy.
One of the most important features of the Gaming Today Moneyline Calculator is the Implied Probability feature.
For any favorite or underdog input, the calculator produces the implied probability of that team winning. Astute bettors can use the calculator to find teams that have a higher actual win probability than the implied probability dictated by the odds.
The 'To Win' window displays the amount of profit yielded by any combination of odds and wager amount. To calculate the return to the bettor, add the 'To Win' number to the original amount of the wager.
How To Use The Moneyline Calculator To Place A Sports Bet
Suppose you wanted to put the Gaming Today Moneyline Calculator to work to decide how you wanted to bet on Game 1 of the 2020 World Series. Here's another look at the lines offered on that game by PointsBet:
| Point Spread | Total | Moneyline | |
|---|---|---|---|
| Tampa Bay Rays | +1.5 (-150) | Over 7.5 (+100) | +140 |
| LA Dodgers | -1.5 (+130) | Under 7.5 (-121) | -165 |
To calculate a $50 moneyline wager on the Tampa Bay Rays, input $50 in the 'Bet Amount' window and put '+140' in the 'American Odds' window. Hit enter or click on the 'Convert Odds' button and see how the moneyline calculator converts that information into several different useful categories.
The calculator converts the '+140' odds into all of the different notations you might see used by a sportsbook.
The +140 American odds convert to 2.40 decimal odds, 7/5 fractional odds, 1.40 for Indonesian/Hong Kong odds, and -0.7143 Malay Odds. A tool like our moneyline calculator can be a crucial component of a betting strategy when evaluating odds at sportsbooks that use different notations.
The 'Implied Probability' output tells you that at +140 odds, the Rays have a 41.67% implied probability of winning. A skilled bettor will take that bet if they think Tampa Bay's actual chance of winning the game is higher than that.
The 'To Win' output yields the profit produced if the Rays win. A $50 winning bet on the Rays yields $70 in profit and a $120 total return to the bettor ($70 profit plus the $50 original bet).
Looking for other calculators to use when sports betting? Check out:
Calculating Positive And Negative Moneyline Odds
The math used in calculating the payout on a moneyline is pretty simple. It is one of the most important first steps to understanding sports betting and is crucial to success. Below is a graph of profit won on $100 bets for negative odds. Note that it is a curve that approaches, but will never get to $0. Even -1,000,000 odds still yields some profit from a win:
And here is a graph of profit for positive numbers. The really important difference is that the line is linear. as the odds increase, so does the profit. That goes on forever.
Looking at the odds offered by the sportsbook, note whether they are negative odds (for example -110) or positive odds (for example +120). The calculation changes based on if it is a positive or negative odd. Below we work through an example of a bet of $100 at -110 moneyline odds. It is important to notice that multiplying by -1 is required to give us the positive payout:
PAYOUT = BET AMOUNT / (-1 *MONEYLINE ODDS / 100)
So that looks like:
$90.91 = $100 / (-1 * -110/100)
That also means that you will be returned that amount AND your original bet, meaning you now have $190.91. Let's work another negative example of a $100 bet at -150:
$100 / (-1 * -150 / 100) = $66.67
Now let's work through a positive money example. Let's say you bet $100 at +120
PAYOUT = BET AMOUNT * ODDS / 100
That looks like:
$120 = $100 * 120 / 100
In that case, you are returned your original bet plus profit, so you now have $220.
What Is Line Movement?
How To Bet A Moneyline Bet
Sportsbooks make money by setting lines that bring in an appropriate amount of wagers on both sides of a bet. The house offers odds that factor in a cut of overall wagers, known as vig, that goes to the sportsbook.
In the World Series Game 1 example from above, if 90% of bets come in on the Dodgers, the sportsbook stands to lose big money if Los Angeles wins. A Tampa Bay win in that situation is even more disastrous for the sportsbook.
If the bets coming in on a game are too one-sided, the line on the game will start to move to try to prompt more bets for the other side. It's important to remember that sports betting isn't a zero-sum game, and you'll be losing in the long run even if you win 50% of the time.
Legal Online Sports Betting In The US
A federal mandate known as the Professional and Amateur Sports Protection Act (PASPA) was overturned in May 2018, giving US states the legal clearance to offer state-regulated sports betting. Several states now offer both retail and online sports betting, including New Jersey, Pennsylvania, Nevada, Illinois, Indiana, Colorado, and several others.
How To Bet Moneyline On Bovada
The top online sport betting brands in the US include the following:
DraftKings Sportsbook
One of the biggest brands to emerge in the booming online sports betting industry, DraftKings Sportsbook offers mobile sports wagering in eight states. The sportsbook offers every imaginable kind of wager across multiple sports.
That betting menu includes daily moneyline opportunities on all major US sports leagues, as well as numerous international leagues. A tool like the Moneyline Calculator can be an indispensable tool to use for evaluating the odds and implied win probabilities at DraftKings Sportsbook.
FanDuel Sportsbook
Another huge player in the legal sports betting market, FanDuel Sportsbook offers mobile sports wagering in seven states. Along with DraftKings Sportsbook, FanDuel Sportsbooks stands as one of the top two mobile sports betting brands in the US.
FanDuel Sportsbook's vast selection of moneyline wagering options becomes a potentially profitable market for bettors using a moneyline calculator. Such a tool allows sharp players to compare odds across multiple sportsbooks and only place the most favorable bets.
FOX Bet
A collaboration between FOX Sports and The Stars Group, the FOX Bet brand operates online sportsbooks in New Jersey, Pennsylvania, and Colorado.
The moneyline odds at FOX Bet can vary greatly versus some of its competitors, and bettors using a moneyline calculator tool gain a significant edge versus players that don't.
Moneyline Calculator FAQs
Yes. More than a dozen states either currently offer online sports betting or have a launch of mobile sports betting products pending.
New Jersey, Nevada, and Pennsylvania represent the three biggest online sports betting markets in the US. Other states with legal online sports wagering include Colorado, Illinois, Indiana, Iowa, West Virginia, and a few others.
The Gaming Today Moneyline Calculator can be used as a valuable resource on any moneyline bet. It's especially useful for evaluating the implied probability of winning and payout odds.
- A $100 winning bet on the Cavaliers at odds of +155 would return a total of $255 — the stake plus a profit of $155.
- A $100 winning bet on the Pacers at odds of -175 returns a total of $157.10 — the amount of the initial bet plus winnings of $57.10.
As you can see, betting on underdogs can be potentially more lucrative, but don't let that be the driving force behind your decision-making.
The idea is to win more often than you lose when it comes to betting and to make a profit along the way. As such, your choices should be determined by which side you feel most confident about.
Many sets of moneyline odds will have clear favorites and underdogs, but there are times when the game sets up as closer than that. Here's an example.
- Columbus Blue Jackets -105
- Pittsburgh Penguins -115
As the oddsmakers see this NHL game, it's close to being a toss-up. Both sides have negative odds to reflect that, and they may fluctuate as the game approaches based on market action. Here's the potential return on both sides of the equation.
- A $100 winning bet on the Blue Jackets at odds of -105 would return a total of $195.20 — the stake plus a profit of $95.20.
- A $100 winning bet on the Penguins at odds of -115 returns a total of $187.00 — the amount of the initial bet plus winnings of $87.00.
Moneyline odds can help you quickly get a handle on a slate of games. You'll know which side is expected to win, and after a little bit of practice, you'll be able to figure out what type of returns you might see on winning bets.
The straightforward nature of the bet makes it an excellent place to begin for new bettors. At the same time, bettors with more experience can also lean on it for somewhat more predictable returns in comparison to other bet types.
How to bet on the moneyline
As with all of the bet types on the wagering menu, practice, patience and persistence can help cut down on the learning curve relatively quickly. To that end, let's take a look at some examples of how to bet on the moneyline for several major sports.
NFL moneyline betting
In terms of overall betting volume, the NFL is the most popular offering at sportsbooks. While point spreads and totals attract plenty of attention, there's also the opportunity to keep it simple and focus on the moneyline.
For a point spread, bettors need to factor in what's basically an estimated margin of victory and choose the favorite or the underdog to 'cover.' There's no need to do that with the moneyline as it's simply about which side will win.
- Houston Texans +120
- Indianapolis Colts -140
In the above example, the Colts are slight favorites over the Texans. A winning $100 bet on Houston would lead to a profit of $120, while a correct $100 bet on the Indianapolis side translates into winnings of $71.40.
NBA moneyline betting
The NBA is another of the most popular choices on the betting menu, and also a sport in which the spread and totals attract numerous bets. Moneyline is also offered, so bettors therefore have the option to bottom-line the contest and merely worry about which side will win.
- Detroit Pistons +110
- Indiana Pacers -130
A glance at the odds board tells us that the Pacers are the favorites, but the tight range also lets us know that the game is expected to be pretty close.
If we place a $100 bet on the Pistons side and they go on to win, we'll be rewarded with winnings of $110. For a correct $100 bet on Indiana, the return would be $76.90.
MLB moneyline betting
Moneyline is the most popular bet type for MLB. There's a run line option as well, but the standard is set at 1.5, meaning that the winning side needs to win by more than that while the underdog can cover by keeping it closer than that margin.
The starting pitching matchup is the biggest driver for the odds you'll see displayed each day. When a big mismatch looks like it's on tap, that'll be reflected in the odds you'll see.
- Seattle Mariners +190
- New York Yankees -240
The odds are telling us that the Yankees are really big favorites, so it'll be quite the upset if the Mariners are able to pull this one out.
Naturally, your research may tell you different, so be sure to take the time to break down the games as opposed to just randomly picking huge favorites and calling it a day.
A $100 winning bet on Seattle at odds of +190 would deliver a profit of $190, while a winning $100 bet on the New York side would net $41.70.
NHL moneyline betting
Betting on the NHL is similar to MLB. There's a puck line that's typically set at 1.5 for each game, but moneyline is the biggest driver for betting action.
The regular season is a grind for all sports, and upsets happen on every slate of games as a result. It's important to remember that the odds are pointing you toward the most likely outcome based on the information at hand.
- Ottawa Senators +135
- Toronto Maple Leafs -155
According to the odds, the Maple Leafs should win this game. However, closer examination could tell you a different story. In short, don't be shy about digging in to spot potential upsets, as hitting on some of them can make a big difference for your bankroll.
For this example game, a winning $100 bet on the Senators returns $135, while a correct $100 bet on Toronto would result in a return of $64.50.
College basketball moneyline betting
For experienced handicappers, college basketball is an incredibly popular sport. The point spread attracts tons of attention, but there are also returns to be found on the moneyline.
Moneyline is also a great way to break in for those who are looking to get in on the action with a new sport. As opposed to worrying about what the final margin of the game will be, moneyline bettors only need to focus on which side is going to win.
- Wisconsin +120
- Indiana -140
After getting a good handle on the moneyline and breaking down games, branching out into other wager types such as spreads and totals will be less challenging.
For this example, a winning $100 bet on the Wisconsin side returns $120, while a correct $100 wager on Indiana leads to a profit of $71.40.
College football moneyline betting
Saturdays in the fall and winter are the most wonderful time of the year for many sports fans, and numerous bettors share that sentiment. There are plenty of seasoned bettors who have made college football their top sport to key in on.
The weekly schedules are chock full of choices. While there are a number of marquee matchups each week, there are also lots of mismatches between powerhouse programs and smaller schools.
- The Citadel +325
- Alabama -450
Alabama is a huge favorite for this contest and expected to have its way with The Citadel. While there are no sure things in sports betting, this could be a proverbial layup for moneyline bettors.
However, if The Citadel pulls out an upset for the ages, then $100 bettors on that side are looking at a stellar return of $325. For Alabama bettors, a winning $100 bet means a profit of $22.20.
While that may not sound terribly exciting, the opportunity to make a profit of 22.2% is nothing to sneeze at. Some bettors may dismiss smaller returns as not being worthy of their time, but they can absolutely add up over the course of a season.
Finding the best moneyline odds
All sportsbooks offer moneyline betting, but not all of the odds are created equal. While most of the major operators are in range in terms of what they offer to the public, there are ticks of difference to be found.
After bets start getting placed following the initial release of lines, oddsmakers may tweak the odds in a bid to even out the action. As a result, the moneyline odds can be a bit different at one operator in comparison to another.
You can easily spot these discrepancies if you engage in a practice that has come to be known as line shopping. This means that you are checking out the odds at multiple books while hunting for the best price.
For an example, let's consider an NFL game in which the Kansas City Chiefs are a consensus favorite over the Las Vegas Raiders. Here's what the odds look like at one operator.
- Las Vegas Raiders +135
- Kansas City Chiefs -155
You do some shopping and notice that another book is offering this game at a different price.
- Las Vegas Raiders +125
- Kansas City Chiefs -145
While this may not seem like a huge difference, it can absolutely add up. Let's consider the differences for a winning $100 bet on the Chiefs side at both sets of odds.
- At odds of -155, the profit is $64.50.
- At odds of -145, the profit is $69.00.
By shopping around a bit, you have put yourself in line to earn an extra $4.50. While that doesn't move the needle all on its own, turning that trick a few times over the course of an NFL season can be a boon to the bottom line.
In today's connected world in which numerous operators are easily accessible online and via mobile, line shopping is really simple. It's worth taking the time to do it to make sure you are putting yourself in position to earn the best returns possible.
Handicapping the moneyline
Overall, the moneyline is a great simple bet to focus on for sports betting. However, that doesn't mean you can just wing it and hope to come out ahead in the long run.
There's some legwork to be done with moneyline betting, but there are also different approaches you can take. That's one of the many great things about sports betting: there's no one size fits all approach, and many different paths can lead you to success.
For some bettors, the answer is to lean on some trusted resources and then to form their own opinion from there. Some will pay for picks and advice, while others will dive in and handicap themselves.
The approach you choose is ultimately up to you, but it's a good idea to have a good handle on the basics of handicapping regardless. Beyond just teaching you how to break down the games, this can also help you to spot opinions that may be way off the mark.
Here's a quick and simple process you can use to form the basis of your own research.
- Study the odds: You need to know what the odds board is telling you and respect it. The big favorites are where they are for a reason, as are the long shots. Don't overthink it, but also don't let that discourage you from digging deeper. After all, you may uncover something that others are missing as you conduct your own research.
- Realistically assess the teams: It's important to clear the head of preconceived notions and any rooting interests before breaking down a game. If you can't do that, just pass and move on to another game. Take a detailed look at the teams involved and consider their strengths and weaknesses. By doing so, the side that is stronger overall should become apparent.
- Pay attention to recent form: Momentum is a big factor on the field of play, and that's also true for stretches during lengthy regular seasons. Top squads can go on downswings, while also-rans can get it together as the year moves along. Pay close attention to how teams have performed over their most recent games for clues on what may be to come in the near future.
- News and notes: For each game that you plan on betting on, it's imperative to take the time to review the news and notes surrounding the game. The news cycle moves fast in the world of sports, and there are often many useful nuggets to be found. Pay particularly close attention to player injuries, playing time issues and comments from coaches.
Taking the time to go through these four simple steps can help put you ahead of the curve. Once you get a handle on the process, you can expand your routine and dig in even deeper with advanced stats and metrics.
Moneyline bets present the most straightforward way to wager on a sports contest. A moneyline wager simply asks the bettor to choose which team will win a game, with no point spread involved.
The payout odds on the favorite and underdog can differ significantly on a moneyline bet. Using a moneyline calculator breaks down the math on the odds, which allows bettors to assess the true value on each side.
The following page includes the GamingToday.com MoneyLine Calculator, as well as several valuable tables and graphs designed to help bettors gain an edge with moneyline bets.
Moneyline Calculator
Fill in the dollar amount for your bet and the American Odds (for example -110) and calculate the implied probability and the return on the moneyline.:
What Is A Moneyline Bet?
Legal US sportsbooks generally present several different ways to wager on sports. Moneyline bets represent just one of several different wagering options, which include point spread, totals, parlays, and in-game betting.
Moneyline Bets
A moneyline wager allows the bettor to put a bet on which team or athlete will win a contest, straight up. The moneyline underdog will always pay out at better odds than the favorite.
Skilled bettors look for value on moneyline bets by evaluating teams that have a better chance of winning than the implied probability of the odds might dictate.
Moneyline favorites are listed with '-' odds, and the underdog is listed at '+' odds.
For example, here's a look at a line offered by PointsBet on Game 1 of the 2020 World Series:
| Point Spread | Total | Moneyline | |
|---|---|---|---|
| Tampa Bay Rays | +1.5 (-150) | Over 7.5 (+100) | +140 |
| LA Dodgers | -1.5 (+130) | Under 7.5 (-121) | -165 |
American Odds
PointsBet sets the Los Angeles Dodgers as the favorite in the game, with -165 moneyline odds. To calculate '-' odds, divide 100 by the odds, then multiply that quotient by the amount you bet.
For example, suppose you want to calculate how much profit a $50 bet on the Dodgers would yield. First divide 100 by 165 (without the '-'), which yields 60.6. Then multiply that number by your $50 bet to arrive at the profit (60.6*$50=$30.30).
A $50 bet on the Dodgers at -165 odds would yield $30.30 in profit. The $50 wager would return $80.30 to the bettor ($30.30 profit plus the original $50 bet).
To calculate '+' odds, divide the odds by 100 and multiply that product by the amount of the wager.
A $50 bet on the Tampa Bay Rays, for instance, would calculate as 140/100 (which yields 1.4), multiplied by $50 (1.4*$50=$70). A winning $50 moneyline bet on the Rays returns $120 total to the bettor ($70 profit plus the original $50 bet.)
Decimal Odds
Decimal odds can be used to make a simple calculation of odds multiplied by wager amount to arrive at the total amount returned to the bettor.
The -165 odds on Los Angeles, for example, convert to 1.6061 decimal odds using the Gaming Today moneyline calculator. Multiplying that by a $50 bet yields $80.30, and subtracting the original bet amount yields the profit earned ($80.30-$50=$30.30).
What Is A Moneyline Calculator?
The Gaming Today Moneyline Calculator allows for quick calculations for any wager amount and payout odds. Using American, decimal, fractional, Hong Kong, Indonesian, or Malay Odds, you can input the odds and the amount of a wager and see the payout that would come if the bet is a win.
While it's valuable to understand and be able to calculate favorite and underdog Moneyline odds for all of the different odds notations, the moneyline calculator can save a significant amount of time and energy.
One of the most important features of the Gaming Today Moneyline Calculator is the Implied Probability feature.
For any favorite or underdog input, the calculator produces the implied probability of that team winning. Astute bettors can use the calculator to find teams that have a higher actual win probability than the implied probability dictated by the odds.
The 'To Win' window displays the amount of profit yielded by any combination of odds and wager amount. To calculate the return to the bettor, add the 'To Win' number to the original amount of the wager.
How To Use The Moneyline Calculator To Place A Sports Bet
Suppose you wanted to put the Gaming Today Moneyline Calculator to work to decide how you wanted to bet on Game 1 of the 2020 World Series. Here's another look at the lines offered on that game by PointsBet:
| Point Spread | Total | Moneyline | |
|---|---|---|---|
| Tampa Bay Rays | +1.5 (-150) | Over 7.5 (+100) | +140 |
| LA Dodgers | -1.5 (+130) | Under 7.5 (-121) | -165 |
To calculate a $50 moneyline wager on the Tampa Bay Rays, input $50 in the 'Bet Amount' window and put '+140' in the 'American Odds' window. Hit enter or click on the 'Convert Odds' button and see how the moneyline calculator converts that information into several different useful categories.
The calculator converts the '+140' odds into all of the different notations you might see used by a sportsbook.
The +140 American odds convert to 2.40 decimal odds, 7/5 fractional odds, 1.40 for Indonesian/Hong Kong odds, and -0.7143 Malay Odds. A tool like our moneyline calculator can be a crucial component of a betting strategy when evaluating odds at sportsbooks that use different notations.
The 'Implied Probability' output tells you that at +140 odds, the Rays have a 41.67% implied probability of winning. A skilled bettor will take that bet if they think Tampa Bay's actual chance of winning the game is higher than that.
The 'To Win' output yields the profit produced if the Rays win. A $50 winning bet on the Rays yields $70 in profit and a $120 total return to the bettor ($70 profit plus the $50 original bet).
Looking for other calculators to use when sports betting? Check out:
Calculating Positive And Negative Moneyline Odds
The math used in calculating the payout on a moneyline is pretty simple. It is one of the most important first steps to understanding sports betting and is crucial to success. Below is a graph of profit won on $100 bets for negative odds. Note that it is a curve that approaches, but will never get to $0. Even -1,000,000 odds still yields some profit from a win:
And here is a graph of profit for positive numbers. The really important difference is that the line is linear. as the odds increase, so does the profit. That goes on forever.
Looking at the odds offered by the sportsbook, note whether they are negative odds (for example -110) or positive odds (for example +120). The calculation changes based on if it is a positive or negative odd. Below we work through an example of a bet of $100 at -110 moneyline odds. It is important to notice that multiplying by -1 is required to give us the positive payout:
PAYOUT = BET AMOUNT / (-1 *MONEYLINE ODDS / 100)
So that looks like:
$90.91 = $100 / (-1 * -110/100)
That also means that you will be returned that amount AND your original bet, meaning you now have $190.91. Let's work another negative example of a $100 bet at -150:
$100 / (-1 * -150 / 100) = $66.67
Now let's work through a positive money example. Let's say you bet $100 at +120
PAYOUT = BET AMOUNT * ODDS / 100
That looks like:
$120 = $100 * 120 / 100
In that case, you are returned your original bet plus profit, so you now have $220.
What Is Line Movement?
How To Bet A Moneyline Bet
Sportsbooks make money by setting lines that bring in an appropriate amount of wagers on both sides of a bet. The house offers odds that factor in a cut of overall wagers, known as vig, that goes to the sportsbook.
In the World Series Game 1 example from above, if 90% of bets come in on the Dodgers, the sportsbook stands to lose big money if Los Angeles wins. A Tampa Bay win in that situation is even more disastrous for the sportsbook.
If the bets coming in on a game are too one-sided, the line on the game will start to move to try to prompt more bets for the other side. It's important to remember that sports betting isn't a zero-sum game, and you'll be losing in the long run even if you win 50% of the time.
Legal Online Sports Betting In The US
A federal mandate known as the Professional and Amateur Sports Protection Act (PASPA) was overturned in May 2018, giving US states the legal clearance to offer state-regulated sports betting. Several states now offer both retail and online sports betting, including New Jersey, Pennsylvania, Nevada, Illinois, Indiana, Colorado, and several others.
How To Bet Moneyline On Bovada
The top online sport betting brands in the US include the following:
DraftKings Sportsbook
One of the biggest brands to emerge in the booming online sports betting industry, DraftKings Sportsbook offers mobile sports wagering in eight states. The sportsbook offers every imaginable kind of wager across multiple sports.
That betting menu includes daily moneyline opportunities on all major US sports leagues, as well as numerous international leagues. A tool like the Moneyline Calculator can be an indispensable tool to use for evaluating the odds and implied win probabilities at DraftKings Sportsbook.
FanDuel Sportsbook
Another huge player in the legal sports betting market, FanDuel Sportsbook offers mobile sports wagering in seven states. Along with DraftKings Sportsbook, FanDuel Sportsbooks stands as one of the top two mobile sports betting brands in the US.
FanDuel Sportsbook's vast selection of moneyline wagering options becomes a potentially profitable market for bettors using a moneyline calculator. Such a tool allows sharp players to compare odds across multiple sportsbooks and only place the most favorable bets.
FOX Bet
A collaboration between FOX Sports and The Stars Group, the FOX Bet brand operates online sportsbooks in New Jersey, Pennsylvania, and Colorado.
The moneyline odds at FOX Bet can vary greatly versus some of its competitors, and bettors using a moneyline calculator tool gain a significant edge versus players that don't.
Moneyline Calculator FAQs
Yes. More than a dozen states either currently offer online sports betting or have a launch of mobile sports betting products pending.
New Jersey, Nevada, and Pennsylvania represent the three biggest online sports betting markets in the US. Other states with legal online sports wagering include Colorado, Illinois, Indiana, Iowa, West Virginia, and a few others.
The Gaming Today Moneyline Calculator can be used as a valuable resource on any moneyline bet. It's especially useful for evaluating the implied probability of winning and payout odds.
The moneyline bet calculator's ability to display odds across multiple notation formats (American, Decimal, Fractional, Indonesian/Hong Kong, and Malay odds) allows bettors to compare lines across sportsbooks that use different notations.
Even if you're a veteran sports bettor, running every bet you're considering through the calculator provides significant benefit.
Yes. Nothing in the terms and conditions of any US legal online sportsbooks prohibits the use of a moneyline calculator.
The calculator provides computations that any person could produce with pen and paper but in a much faster and more efficient manner.
For '+' American odds, divide the odds by 100 and convert that quotient into a fraction. To convert +160 into fractional odds, for example, divide 160 by 100 (160/100) and reduce that fraction to the lowest whole number denominator. American odds of +160 would convert to 8/5 fractional odds.
What Does Moneyline Bet Mean
For '-' American odds, divide 100 by the odds and convert to the simplest form fraction. For -160 odds, for example, the calculation looks like 100/160, which reduces to 5/8 fractional odds.
To convert '+' American odds to implied winning probability, the formula looks like this:
100 / ('+' American odds + 100)*100 = implied probability
For example, +160 odds would be calculated as 100/(160+100)*100. This converts to 100/260*100, which ends up yielding a 38.46% implied probability.
To convert '-' odds, the formula looks like this:
'-' odds / ('-' odds + 100)*100 = implied probability
How To Bet A Moneyline
For instance, -160 odds would translate to 160/(160+100)*100, converting to 160/260*100, which yields a product of 61.54. The implied probability of -160 odds is a 61.54% chance of winning.
How To Bet A Moneyline
Several online sportsbooks offer comprehensive coverage of sports and ways to bet. Some of the best choices for online sports betting in the US include DraftKings Sportsbook, FanDuel Sportsbook, PointsBet, FOX Bet, and BetMGM.
