Moneyline Bets Explained: A Beginner’s Guide to Smarter Wagering

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A money line bet is the most basic form of sports wagering. It involves selecting a team or player to win outright, without considering point spreads. Depending on the sport, there may be two or three possible outcomes. In most cases, bettors choose between two teams or competitors, but for sports like soccer or combat sports (boxing/MMA), a “draw” may also be an option, which you can place on a platform like Sbobet88.

Some sportsbooks offer a “draw no bet” option, refunding wagers on draws while paying out correct predictions.

How Moneyline Odds Work

Moneyline odds consist of three key elements: the favorite, the underdog, and an even or pick ’em scenario.

Favorite (Negative Moneyline) – The favorite is expected to win, and its odds are represented with a minus (-) sign. For example, if the odds are -150, a bettor must wager $150 to win $100. If successful, they receive $250 ($150 stake + $100 profit).
Underdog (Positive Moneyline) – The underdog has a lower probability of winning and is represented with a plus (+) sign. If the odds are +150, a $100 bet would return $150 in winnings, totaling a $250 payout. Since underdogs are less likely to win, they offer a higher potential reward.
Even or Pick ’em – When teams are evenly matched, sportsbooks may offer “EV” (even) or “PK” (pick ’em) odds. In this case, a successful $100 bet would yield $100 in profit, resulting in a $200 payout.

Moneyline Bets in Football

In football, money line bets are straightforward: you simply pick the team you believe will win. Since there are no ties in the NFL, only two options are available—the favorite and the underdog.

For example, if the Chiefs are -180 and the Raiders are +160, you would need to bet $180 to win $100 on the Chiefs. Conversely, a $100 wager on the Raiders would yield $160 in winnings if they win. Moneyline bets are often preferable when betting on close games or low-scoring matchups, as they eliminate the complexity of point spreads.

Moneyline Bet Outcomes

Bettors will experience one of three results:

Win – The chosen team or player wins, resulting in a payout. If a draw is an option and correctly predicted, it also results in a win.
Loss – The selected team or player loses, or the bettor fails to predict a draw when one occurs.
Draw or Draw No Bet – In sports where a draw is possible, some sportsbooks offer a “draw no bet” option. If a match ends in a draw under this condition, the wager is refunded.

Moneyline vs. Point Spread

Although moneyline bets don’t factor in point spreads, they are influenced by them. For instance, a team favored by 3 points might have a moneyline of -160, while a 7-point favorite could have a -350 money line. As the spread increases, so does the amount required to bet on the favorite. Meanwhile, betting on an underdog offers higher payouts but comes with greater risk.