A moneyline bet is a wager on which team or competitor will win outright. The American odds beside each choice show how much a winning bet earns: a plus sign gives the profit on a $100 stake, while a minus sign shows how much you must risk to earn $100 profit. Your total payout on a win includes your original stake.
What a moneyline bet is
A moneyline is the price for picking the outright winner of a contest, rather than betting on a point spread or a total. The sportsbook sets the odds for each outcome; the number describes the payout for a winning wager, not a promise that the outcome will occur. The DraftKings guide to moneyline bets describes the wager as picking the outright winner.
The North Carolina Problem Gambling Program’s guide, revised March 11, 2025, explains: “Betting odds, sometimes referred to as the ‘Moneyline’ represent the probability of an event happening and determine how much money you can win relative to your bet.” In practice, odds express a price and an implied probability; they do not guarantee the event’s result.
How to read plus and minus odds
American moneyline odds use a plus or minus sign. The standard $100 reference is for calculating profit, not necessarily the amount you have to bet.
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| Odds | What the number means | Example winning wager |
|---|---|---|
| +200 | Profit on a $100 stake | A $100 stake earns $200 profit and returns $300 total. A $50 stake earns $100 profit and returns $150 total. |
| -150 | Stake required to earn $100 profit | A $150 stake earns $100 profit and returns $250 total. A $75 stake earns $50 profit and returns $125 total. |
For positive odds, scale the stated profit to your stake: at +200, a $50 stake is half of $100, so the profit is half of $200. For negative odds, scale the target profit to your stake: at -150, risking half of $150 earns half of the $100 target, or $50. In either case, add the original stake to the profit to get the total payout on a win. These calculations exclude any taxes or other obligations that may apply to a bettor.
How to calculate implied probability
Implied probability translates American odds into a percentage represented by the price. It is not a guarantee, nor does the odds figure alone establish the actual chance of an outcome.
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- Positive odds: 100 ÷ (odds + 100). At +150, the calculation is 100 ÷ 250 = 40%.
- Negative odds: absolute odds ÷ (absolute odds + 100). At -150, the calculation is 150 ÷ 250 = 60%.
These percentages are arithmetic examples from the odds formulas, not statistics about how often a team or competitor wins. When a market lists multiple outcomes, the implied probabilities can add to more than 100% because bookmaker pricing may include a margin. The size of any excess depends on the specific market and sportsbook.
How American, decimal, and fractional odds differ
Odds formats express prices in different ways, so compare them after converting to the same format and distinguish profit from total return. For decimal odds, multiply your stake by the decimal price to get the total return, including the stake. DraftKings lists -110 American as 1.91 decimal and 10/11 fractional; 1.91 is a rounded representation of the equivalent price.
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How to compare moneyline prices
If comparing prices for the same event and market, use the same odds format and compare them at the same time, since prices can change. Consider what each price means for the amount you plan to stake, the profit you would receive if it won, and the implied probability. A larger potential payout by itself does not make an option a better bet: the price also implies a lower chance, and odds alone do not reveal the true chance of winning.
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Before placing a moneyline wager
- Check whether the displayed number is American odds and read the sign before calculating a payout.
- Separate profit from total payout; the total includes the original stake only when the wager wins.
- Treat implied probability as a translation of price, not certainty or a verified prediction.
- Check the wagering rules and eligibility requirements that apply where you live. Availability and legality vary by jurisdiction.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
