NFL moneyline betting is straightforward in concept — pick the winner, collect if right — but the odds can look intimidating when a heavy favorite opens at –700 or beyond. Understanding what those numbers actually cost you is the first step toward smarter wagering.
How Do NFL Moneyline Odds Work?
American odds use a simple sign system. A negative number is the favorite; a positive number is the underdog. A line of –300 means you risk $300 to profit $100. A line of +250 means a $100 bet profits $250 if the underdog pulls it off.
If you want the full breakdown of how to read every format — favorites, underdogs, and pick 'em games priced near –110 — the guide to reading moneyline odds covers each scenario with worked examples.
What Does a –700 NFL Favorite Actually Mean for Your Wallet?
Heavy NFL favorites can open at –700 or higher. At –700, you must risk $700 just to profit $100. One upset — a bad snap, a fourth-quarter turnover — and you've lost seven times your potential gain. That's the math that makes blindly backing heavy chalk a dangerous long-term habit.
The underdog in that same game might be priced around +500, meaning a $100 bet returns $500 in profit. The payout is tempting, but the implied probability is low for a reason. Neither side is automatically "value" — the line reflects the market's best read on win probability.
Where Does Value Hide in NFL Moneylines?
Value shows up when the public inflates a favorite's price beyond what the actual win probability supports. Prime-time games, popular franchises, and home teams in cold weather tend to attract square money that pushes lines past fair value. That's often where underdogs become interesting. For a structured approach to spotting those spots and understanding the vig's drag on every bet, see the moneyline betting strategy guide.
Line movement matters too. Odds shift constantly with betting volume, sharp action, and injury news. A line that opened at –180 and has moved to –220 by kickoff tells a story worth reading before you place anything.
Favorites vs. Underdogs: A Quick NFL Reference
| Odds | Role | Profit on $100 Bet | Risk to Profit $100 |
|---|---|---|---|
| –700 | Heavy favorite | $14.29 | $700 |
| –150 | Moderate favorite | $66.67 | $150 |
| –110 | Pick 'em / slight favorite | $90.91 | $110 |
| +130 | Moderate underdog | $130 | $100 |
| +500 | Heavy underdog | $500 | $100 |
Does the NFL Moneyline Include Overtime?
Standard NFL moneyline markets include overtime. So a game that's tied at the end of regulation and decided in OT still settles your bet normally. Some books offer "regulation only" markets as a separate option — always check the label before confirming a wager. More detail on that distinction is in the guide on whether moneylines include overtime.
Can You Parlay NFL Moneylines?
Yes, and sportsbooks make it easy to string multiple NFL winners onto one ticket. Every leg must hit, though. One loss sinks the whole parlay. The moneyline parlay guide explains exactly how the combined odds are calculated and when a parlay makes sense versus a series of singles.
Where to Bet NFL Moneylines Legally
Online NFL moneyline betting is live in 38-plus states as of 2025, following the Supreme Court's 2018 ruling that ended the federal ban. California, Texas, and Florida are among the major states where it remains unavailable. Must be 21+ in most states. Gambling problem? Call 1-800-GAMBLER.
DraftKings, FanDuel, BetMGM, and Caesars are among the largest licensed operators covering NFL markets. For a side-by-side look at platforms, promos, and availability, check the best sportsbooks for moneyline betting comparison. If you want a full state-by-state legality rundown, the legal moneyline betting by state overview is the right next stop.
The moneyline vs point spread comparison is also worth a read if you're deciding which bet type fits a particular NFL matchup better — spreads and moneylines serve different purposes depending on how lopsided the game looks.