Moneyline odds explained
A moneyline is a bet on who wins, with no point spread. The odds set the payout. A minus number is what you stake to win 100. A plus number is what a 100 stake wins.
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Worked example
To start, the box below is filled in with LAL -200 / BOS +170. This starting line has both sides of one game, so its card also shows the bookmaker's margin. The box is editable: type any line, or tap one under the card, and the explanation updates.
LAL −200 / BOS +170: the favorite is LAL (−200) and the underdog is BOS (+170).
What it means
A moneyline is a bet on who wins, with no points involved. A bet on LAL risks 200 to win 100. A 100 stake on BOS wins 170.
Scenarios
| If… | LAL | BOS |
|---|---|---|
| LAL win | Win | Loss |
| BOS win | Loss | Win |
| Tie or draw | Depends on house rules | Depends on house rules |
On a 2-way moneyline, what happens on a tie or draw depends on the sport and the sportsbook's rules. In boxing, a two-way market (just the two fighters) refunds the stake on a draw. A three-way market that includes the draw loses both fighter bets.
The numbers
LAL −200
- Implied probability
- 66.67%
- Decimal
- 1.50
- American
- −200
- Per 100 staked
- returns 150 (profit 50)
BOS +170
- Implied probability
- 37.04%
- Decimal
- 2.70
- American
- +170
- Per 100 staked
- returns 270 (profit 170)
Both sides together
- Implied probabilities add up to
- 103.70%
- Bookmaker margin
- 3.70%
- Fair probability: LAL
- 64.29%
- Fair probability: BOS
- 35.71%
Margin (overround) = the implied probabilities added together, minus 100%. Fair probabilities remove the margin by dividing each one by that total.
Watch out for
A minus price doesn't mean you lose money. −200 means you stake 200 to win 100, and the 200 comes back too if the bet wins.
Learn more: Moneyline guide
Common lines to try
Reading minus and plus
American odds are built around 100.
- Minus (−200): how much you stake to win 100. Stake 200, win 100, get 300 back in total.
- Plus (+170): how much a 100 stake wins. Stake 100, win 170, get 270 back in total.
- +100, also called evens, is the point where the two meet. Stake 100, win 100.
A minus price marks the favorite and a plus price marks the underdog, the same as on a point spread. On a moneyline there is no head start in points: the team only has to win.
| Odds | Profit per 100 staked | Total return per 100 | Implied probability |
|---|---|---|---|
| −200 | 50 | 150 | 66.67% |
| −110 | 90.91 | 190.91 | 52.38% |
| +100 | 100 | 200 | 50.00% |
| +150 | 150 | 250 | 40.00% |
| +170 | 170 | 270 | 37.04% |
The odds converter shows these as decimal and fractional odds too.
Implied probability
Implied probability turns a price into a percentage.
- Minus odds: stake ÷ (stake + 100). For −200: 200 ÷ 300 = 66.67%.
- Plus odds: 100 ÷ (odds + 100). For +170: 100 ÷ 270 = 37.04%.
It describes the price, not the game. This site doesn’t say how likely a team is to win.
Why both sides add up to more than 100%
For LAL -200 / BOS +170: 66.67% + 37.04% = 103.70%.
The 3.70% above 100% is the bookmaker’s margin, also called the overround. Divide each side’s implied probability by 103.70% and you get the fair probabilities, which add up to exactly 100%: 64.29% and 35.71%.
Some sites quote hold instead, which comes out a little smaller. The glossary explains the difference.
When the game ends level
What happens on a tie depends on the sport and the market, so check the house rules.
- Soccer usually uses a 3-way market (home, draw, away). A draw loses a bet on either team.
- Boxing depends on the market. In a two-way market (just the two fighters), a draw refunds the stake. In a three-way market that includes the draw as an outcome, a draw loses a bet on either fighter.
Common misreadings
- A minus price means you lose money.
- -200 means you stake 200 to win 100. If the bet wins, you get the 200 stake back as well, so 300 in total.
- +170 means a 170% chance.
- +170 is a payout: a 100 stake wins 170. As a probability it works out to 37.04%.
- Implied probability is the real chance of winning.
- It's what the price implies, and it includes the bookmaker's margin. Removing the margin gives fair probabilities, but neither number is a prediction.