Two simple formulas tell you exactly what a money line bet pays before you risk a dollar. One handles favorites, one handles underdogs — master both and you'll never be surprised by a payout slip.
What Are the Two Moneyline Payout Formulas?
American odds split into negative numbers (favorites) and positive numbers (underdogs). Each side uses its own math.
- Favorite profit = (100 ÷ |odds|) × stake
- Underdog profit = (odds ÷ 100) × stake
Total return always equals profit plus your original stake back.
How Do You Calculate a Favorite Payout?
Say a team is priced at –150. You want to know what a $50 bet returns.
- Divide 100 by 150 → 0.667
- Multiply by $50 stake → $33.33 profit
- Add stake back → $83.33 total return
Heavier favorites pay even less per dollar risked. A –700 line on a massive NFL favorite means risking $700 to profit only $100. One upset and seven winning nights are gone.
How Do You Calculate an Underdog Payout?
Now flip it. A team is listed at +130 and you bet $50.
- Divide 130 by 100 → 1.30
- Multiply by $50 stake → $65 profit
- Add stake back → $115 total return
Underdogs reward less probable outcomes with bigger profits. A +500 dog pays $500 profit on a $100 wager.
Quick-Reference Payout Table
| Odds | Side | $100 Stake Profit | $100 Stake Total Return |
|---|---|---|---|
| –150 | Favorite | $66.67 | $166.67 |
| –110 | Pick 'em / slight fav. | $90.91 | $190.91 |
| +130 | Underdog | $130.00 | $230.00 |
| +200 | Underdog | $200.00 | $300.00 |
What About Pick 'Em Games?
A pick 'em typically prices both teams near –110. Plug that into the favorite formula: (100 ÷ 110) × $100 = $90.91 profit. That gap between your $100 risk and $90.91 return is the vig — the sportsbook's built-in cut. Winning 52.4% of –110 bets is the break-even point, not 50%.
New to how these numbers work in the first place? The guide on how to read moneyline odds: positive, negative, and pick 'em walks through every format.
Does Combining Legs Change the Math?
Yes, dramatically. When you string multiple money line bets together, each leg's decimal multiplier compounds. The potential profit jumps — so does the risk. Moneyline parlay bets: how they work and when to use them breaks down that math with examples.
Any Other Factors That Affect Your Real Payout?
Odds shift constantly with betting volume and injury news. A line you saw this morning may not be the line available tonight. Always confirm the current number before submitting a ticket. Sportsbooks like DraftKings and FanDuel display the expected payout on the bet slip itself — use it as a sanity check against your own calculation.
Sports betting winnings are taxable federal income regardless of the amount. Sportsbooks issue IRS Form W-2G when winnings hit $600 or more and are at least 300× the wager. Factor that in when sizing bets.
For more context on what you're actually wagering on, start with what is a money line bet? The straight-win wager explained. And if you want to compare the money line against its main alternative, see the breakdown on moneyline vs point spread.
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