Mastering Moneyline Odds: How to Read Moneyline Odds

9 min read
Aug 28, 2024, 8:48 AM
Author
Sol Fayerman-Hansen
Sol Fayerman-Hansen
Editor-in-Chief
Last Updated: Sep 19, 2024, 3:19 PM

Mastering Moneyline Odds

Moneyline odds are one of the most common and straightforward forms of betting odds in sports betting. Understanding how to read and calculate moneyline odds is crucial for anyone looking to make informed bets and maximize potential payouts. This guide will walk you through the basics of moneyline odds, how to read them, and how they apply to different sports, giving you the tools you need to succeed in moneyline betting.

Understanding Moneyline Odds

Moneyline odds represent the likelihood of a specific outcome in a sports event, such as one team winning a game outright. Unlike point spread betting, where the focus is on the margin of victory, moneyline betting is all about picking the winner of the match. The odds are expressed in terms of positive and negative numbers, which are directly related to the team's chances of winning.

In the American odds format, a positive number (e.g., +150) indicates how much profit you would make on a $100 bet. A negative number (e.g., -200) indicates how much you need to bet to win $100. This system allows bettors to quickly assess the potential payout and risk associated with a moneyline bet.

Example
If you see the Kansas City Chiefs listed at -200, it means you need to wager $200 to win $100. If the New York Giants are listed at +150, a $100 bet would yield a $150 profit if they win the game.

How to Read Moneyline Odds

Reading moneyline odds is straightforward once you understand the basics of the American odds format:

  • Positive Odds (e.g., +150): The plus sign indicates an underdog. The number shows how much profit you would make on a $100 wager. For example, +150 means a $100 bet would result in a $150 profit, plus your original wager of $100, making the total payout $250.
  • Negative Odds (e.g., -200): The minus sign indicates the favorite. The number shows how much you need to bet to win $100. For example, -200 means you need to wager $200 to win $100, with a total payout of $300 (your $200 bet plus $100 profit).

These odds reflect the implied probability of a team winning. The higher the negative number, the more likely the team is to win, and the lower the potential profit for the bettor.

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Positive odds represent underdogs and higher potential payouts, while negative odds represent favorites and lower risk.

Calculating and Converting Moneyline Odds

To fully understand the potential payouts and risks associated with moneyline odds, it's important to know how to calculate and convert them into different formats, such as fractional or decimal odds.

Calculating Potential Payouts

To calculate the potential payout of a moneyline bet, use the following formulas:

  • For Positive Odds:
    Payout = (Bet Amount (Odds/100)) + Bet Amount
    Example: For +150 odds, a $100 bet would yield:
    Payout = ($100 (150/100)) + $100 = $150 + $100 = $250
  • For Negative Odds:
    Payout = (Bet Amount / (Odds/100)) + Bet Amount
    Example: For -200 odds, a $100 bet would yield:
    Payout = ($100 / (200/100)) + $100 = $50 + $100 = $150

Converting Moneyline Odds

Sometimes, you may want to convert American odds into fractional or decimal odds for better understanding or comparison:

To Fractional Odds:

  • For positive odds, divide the odds by 100 (e.g., +150 becomes 3/2).
  • For negative odds, divide 100 by the odds and then multiply by -1 (e.g., -200 becomes 1/2).

To Decimal Odds:

  • For positive odds: (Odds/100) + 1 (e.g., +150 becomes 2.50).
  • For negative odds: 1 + (100/Odds) (e.g., -200 becomes 1.50).
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Use an odds calculator to quickly convert and calculate potential payouts across different formats.

Line Movement and Its Impact on Betting Odds

Line movement refers to changes in betting odds that occur from the time the lines are initially set to the time the game starts. These movements are directly related to betting activity, injuries, weather conditions, and other factors that may influence the outcome of the game.

Example
If a star player on a favored team gets injured, the odds may shift from -200 to -150, reflecting the reduced likelihood of that team winning. Bettors who place wagers after the line movement may see a different potential payout than those who bet earlier.

Understanding line movement is crucial for timing your bets and maximizing potential profit in moneyline betting. If you anticipate that the odds will shift in your favor, it might be wise to place your bet early. Conversely, waiting for better odds can sometimes pay off if you believe the lines will move in response to new information.

Moneyline Odds in Different Sports

Moneyline odds are used across a variety of sports, each with its own nuances. Here's how they apply to some of the most popular sports:

  • Football (NFL and College): Moneyline bets are common in football, where bettors can choose the outright winner of a game. The odds vary widely depending on team matchups, injuries, and other factors.
  • Basketball (NBA and College): In basketball, moneyline betting is popular, especially when the point spread is narrow. Bettors often use moneyline bets in combination with point spreads for better odds.
  • Baseball (MLB): Since baseball games are often closely contested, moneyline betting is the go-to option for most bettors. The absence of a point spread in baseball makes moneyline bets particularly appealing.
  • Hockey (NHL): Like baseball, hockey relies heavily on moneyline betting due to the low-scoring nature of the games. The moneyline odds reflect the tight margins often seen in hockey matchups.
  • Soccer: Soccer uses moneyline odds frequently, especially in matchups with clear favorites and underdogs. The global popularity of soccer makes moneyline betting a staple in sportsbooks around the world.

Tips for Getting Started with Moneyline Betting

  1. Understand the Basics: Before placing any bets, make sure you fully understand how moneyline odds work. Practice reading odds and calculating potential payouts to get comfortable with the process.
  2. Use an Odds Calculator: An odds calculator can help you quickly determine potential payouts, convert odds formats, and assess the value of different bets.
  3. Consider Implied Probability: Always consider the implied probability when assessing moneyline odds. This percentage reflects the likelihood of an event happening and can help you decide if a bet is worth the risk.
  4. Manage Your Bankroll: Start with small bets and gradually increase your wager amount as you become more confident in your betting strategy. Managing your bankroll effectively is crucial to long-term success in sports betting.
  5. Monitor Line Movements: Keep an eye on line movements and bet at the right time. Understanding why lines move and how they impact potential payouts can give you an edge over other bettors.
  6. Shop Around for the Best Odds: Different sportsbooks offer slightly different odds. Shopping around can help you find the best value for your bets, increasing your potential profit.

Starting small and gradually increasing your wager amount is a smart strategy for managing risk in moneyline betting.

Conclusion

Mastering moneyline odds is a key skill for anyone interested in sports betting. By understanding how to read and calculate these odds, you can make more informed decisions and increase your chances of placing a winning bet. Whether you're betting on football, basketball, or any other sport, the principles of moneyline betting remain the same. With practice and the right strategies, you can use moneyline odds to your advantage and enjoy the excitement and potential rewards of sports betting.

<p>Sol has over 20 years of experience in writing for diverse industries including sports, gambling, regulation, technology, and startups. As the Editor-in-Chief at RG, Sol brings a wealth of knowledge and expertise to the role, focusing on delivering transparent, evidence-based content grounded in thorough research. Sol's mission is to empower readers to enjoy gambling responsibly and make informed decisions, enhancing their overall experience through insightful and engaging content. Under Sol's leadership, <a href="https://www.rg.org">RG</a> prioritizes the highest standards of integrity and reliability, ensuring that all information provided is accurate and trustworthy. Sol's dedication to transparency and research-based writing helps create a responsible gambling environment where readers can truly benefit from the content. This commitment to excellence has positioned RG as a leading source of information in the gambling industry.</p><p><strong>Experience:</strong></p><ul><li>Over 20 years in writing and editing across multiple industries</li><li>Former head of regional innovation at BMO Financial Group</li><li>Senior Writer, Online Casino Reports</li></ul>
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Paruyr Shahbazyan began his business career in 2000 as a private entrepreneur. Over thirteen years, he developed a deep understanding for business and leadership, laying a solid foundation for his professional journey.

In 2013, Paruyr stepped into the sports and betting industry as the founder and president of Bookmaker Rating. This online mass media platform, which he led until 2020, focused on providing in-depth analysis and insights in sports betting, earning a reputation for its quality content. 

Continuing his innovative approach in 2022, Paruyr co-founded Azuro, a decentralized betting protocol. This venture showcases his dedication to integrating advanced technology in the evolving landscape of sports betting. Through these diverse experiences, Paruyr has continuously influenced and shaped the betting industry, driving new trends and setting high standards.

 ExperienceYear
Engaged in private entrepreneurship2000-2013
Founder and President at Bookmaker Rating, an online platform focused on sports and betting2013-2020
Co-founder at Azuro, a decentralized betting protocol2022

"Innovation in sportsbetting comes from a deep understanding of both technology and the human element of sports." 

- Paruyr Shahbazyan, Founder, RG

 

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Paruyr Shahbazyan's core beliefs lie in the power of informed decision-making and integrity in the betting industry. He understands that the foundation of successful betting is not just about odds and predictions, but also about the trust and reliability of the information provided. Paruyr advocates for a betting environment where transparency and knowledge are paramount, ensuring that bettors are well-equipped with accurate data and insights.

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Paruyr's vision is to revolutionize the sports betting industry through the integration of technology. He sees the future of betting as a blend of traditional sports knowledge with innovative tech solutions, like decentralized protocols, to enhance user experience and fairness. His aim is to create platforms that are not only user-friendly but also uphold the highest standards of ethical betting, contributing to a more responsible and enjoyable betting culture.

Future Perspectives

Looking towards the future, Paruyr envisions a betting landscape that is more inclusive, technologically advanced, and globally connected. He anticipates a significant shift towards more decentralized and transparent betting systems, driven by blockchain technology. Paruyr is committed to being at the forefront of this change, continuously exploring new possibilities and innovations that can redefine what it means to engage in sports betting in a digital world. His focus is on building systems that prioritize user empowerment, fairness, and the global growth of the sports betting community.

 

Sol Fayerman-Hansen
Sol Fayerman-Hansen
Editor-in-Chief

Sol has over 20 years of experience in writing for diverse industries including sports, gambling, regulation, technology, and startups. As the Editor-in-Chief at RG, Sol brings a wealth of knowledge and expertise to the role, focusing on delivering transparent, evidence-based content grounded in thorough research. Sol's mission is to empower readers to enjoy gambling responsibly and make informed decisions, enhancing their overall experience through insightful and engaging content. Under Sol's leadership, RG prioritizes the highest standards of integrity and reliability, ensuring that all information provided is accurate and trustworthy. Sol's dedication to transparency and research-based writing helps create a responsible gambling environment where readers can truly benefit from the content. This commitment to excellence has positioned RG as a leading source of information in the gambling industry.

Experience:

  • Over 20 years in writing and editing across multiple industries
  • Former head of regional innovation at BMO Financial Group
  • Senior Writer, Online Casino Reports
Cristina Varela Galan
Cristina Varela Galan
Problem Gambling Expert

Cristina used to work as a Psychology Assistant in the Bizkaia Pathological and Risky Gamblers Association. She was also part of a research team in Deusto University, specializing in pathological gambling area. While working there, she managed to develop her own project 

 “Exploring the association between emotional regulation, alexithymia, stressful life events and gambling in adolescent and young adult women”.

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Nick has been fascinated with sports since he was first taken to a Toronto Maple Leafs game back in 1998, and he's written about them professionally since 2014.

Nick has covered baseball and hockey for outlets like The Athletic, Sportsnet, and Yahoo Sports, and his sports betting expertise has grown since its legalization in Ontario in 2022. 

Between 2022 and 2023 he worked for a betting startup called NorthStar Bets, and in 2024 he contributed to Oddspedia before joining the Responsible Gambler team.

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Sergey Demidov
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Sergey has been in sports journalism since 2007 as a reporter, editor, and manager. He has covered the Olympic Games, soccer World Cups, the World Cup of Hockey in 2016, the European championships, the Stanley Cup Finals, IOC events, and many others. Sergey interviewed the sport's greatest athletes, coaches, and executives. Since 2016, he has been an Independent Senior Editor of NHL.com/ru.

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Anna Kravtcova
Problem Gambling Expert

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