Moneyline Betting
A moneyline bet is the simplest wager in sports betting: pick the winner. There is no spread, no handicap; the team or fighter you back simply has to win. The complexity is all in the odds.
How American Odds Work
- Negative number (e.g. -150) is the favorite. You must risk $150 to win $100.
- Positive number (e.g. +200) is the underdog. A $100 bet wins $200.
- +100 (or “even”) means a $100 bet wins $100.
Quick Payout Math
- $100 at -200 wins $50 → total return $150
- $100 at -110 wins $90.91 → total return $190.91
- $100 at +150 wins $150 → total return $250
- $100 at +300 wins $300 → total return $400
Implied Probability
Every moneyline implies a winning probability. Convert with these formulas:
- Negative: odds ÷ (odds + 100). Example: -150 → 150 / 250 = 60% implied.
- Positive: 100 ÷ (odds + 100). Example: +200 → 100 / 300 = 33.3% implied.
If you believe a team’s true win probability is higher than the implied number, you have a value bet.
When to Use the Moneyline vs. the Spread
- Underdogs you actually believe in: Plus-money moneyline pays much better than the spread.
- Sports without a meaningful spread: MLB and NHL are moneyline-first sports because runs/goals are scarce.
- UFC, tennis, golf: No spread option; moneyline is the standard market.
Wisconsin Availability
Every Wisconsin retail sportsbook offers moneyline markets on every game. See Oneida, Potawatomi, and Ho-Chunk.