What does a negative moneyline number mean?
The minus sign marks the favorite. The number after it is your cost to profit $100. A line of –150 means risk $150, win $100 in profit. A line of –700 — the kind you see on a dominant NFL team — means risk $700 to clear only $100. That's a steep price for picking the obvious winner. One upset wipes out seven wins.
Formula: Favorite profit = (100 ÷ |odds|) × stake. So a $50 bet at –150 returns (100 ÷ 150) × 50 = $33.33 in profit, plus your $50 stake back.
What does a positive moneyline number mean?
The plus sign marks the underdog. The number is your profit on a $100 wager. +130 means bet $100, collect $130 in profit if they win. +500 on a big underdog means a $100 ticket pays $500 profit — real money if you call it right.
Formula: Underdog profit = (odds ÷ 100) × stake. Bet $40 at +200: (200 ÷ 100) × 40 = $80 profit.
Want to skip the math entirely? The moneyline payout calculator handles any odds and stake in seconds.
What is a pick 'em game?
When both teams are considered even, the book prices each side near –110. Neither team carries a plus sign. That –110/–110 setup is called a pick 'em. Both sides pay the house a cut no matter who wins — that's the vig. At –110, a bettor needs to win roughly 52.4% of bets just to break even.
How does implied probability connect to the odds?
Every odds number implies a win percentage. –200 implies roughly a 66.7% chance of winning per the sportsbook's pricing. The higher the negative number, the more "certain" the book considers that outcome — and the less you collect for being right. Spotting when implied probability is off is the core of moneyline value hunting.
Moneyline odds at a glance
| Odds | Role | Profit on $100 bet | Implied probability |
|---|---|---|---|
| –200 | Favorite | $50 | ~66.7% |
| –110 | Pick 'em side | ~$90.91 | ~52.4% |
| +130 | Underdog | $130 | ~43.5% |
| +500 | Heavy underdog | $500 | ~16.7% |
How is a moneyline different from a point spread?
With a moneyline, the only question is who wins. No margin required. A point spread asks whether a team wins by enough. Each format has trade-offs — the full breakdown lives in the moneyline vs point spread comparison guide.
New to the bet type altogether? Start with what a money line bet actually is before diving into odds reading.
Odds shift constantly — sharp action, injuries, weather, and public money all move lines. Locking in a stale number delivers worse expected value than the current market price. Bookmark the top-rated sportsbooks for moneyline betting and compare lines before placing any ticket. Must be 21+ in most states. Gambling problem? Call 1-800-GAMBLER.