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At the Online Gambling Paper we always stride in helping bettors by explaining the basic sports betting terminology in the simplest way possible. Here we will look at the term 'money line', its variations, mistaken meanings and more. As usual examples will be provided to help you better understand what money line means in sports betting. So let's begin without wasting any more time.
The User must fill in the registration form provided by LV BET which shall Gambling Odds Plus Minus at least include the following details. The customer’s identity. You warrant to, provide true, accurate, current and complete information regarding identity during the registration process. Plus, it will help you to avoid making silly mistakes like placing big bets on events that actually have bad odds. Who sets the odds for sports betting? Most bookmakers use their own teams to calculate odds based on various criteria, from the location of the match and the weather, to player absences or injury risks. Whether it's $5 or $5,000, from an office pool or from a casino, all gambling winnings must be reported on your tax return as 'other income' on Schedule 1 (Form 1040), line 8.If you win a non-cash.
The term 'money line' will be seen in sports betting mostly in the United States and it's often referred to as 'American odds' (although this is a mistake, read last paragraph). It usually takes the form of a plus '+' or minus '-' sign, followed by a three digit number, for example, -110. The simplest explanation of the money line term in sports betting is - the odds on an outright (or straight-up) outcome of a game or other sporting event. This makes money line the best bet for beginners, since you simply bet on who will win the game, period. Here is an example, at the online sportsbook Bookmaker, the money line on the NFL game Broncos @ Patriots is as follows: Denver +145, New England -165. This means that the money line odds on Denver to win the game, without any other conditions, such as point spread, straight-up are +145 and the money line on the Patriots to win the game is -165. Here would be a great time to explain what these numbers (or 'lines') mean:
Calculating the American odds, or money line odds, is very simple, although to a foreign or a beginner bettor it would be a complete gibberish. This is how you calculate the money line - if there is a plus sign '+' in front of the number, the number shows how much money you will win for every $100 you wager, if your bet is a winner. For example, if the Denver Broncos win the game, you will win $145 for every $100 wagered, i.e. if you bet $200 you will win $290. And if the sign if front of the money line odds is minus '-', the number shows how much you have to bet in order to win $100. Looking at the above example, if the Patriots win the game you will have to bet $165 to win $100, i.e. if you bet $165 on the Pats to win the game and they do, your money will go from $165 to $265 (the $165 you initially wagered + the $100 won). By looking at the money line odds you can easily spot the favorite and the underdog - the favorite team holds money line odds beginning with minus and the underdog holds odds beginning with plus. There is one other form the money line odds can take, that being 'EVEN', often posted by the sportsbooks as 'EV'. This simply means that you will get paid even money on your bet. For example, if the money line odds on the Broncos were listed as 'EVEN' you will get $100 for every $100 bet, or $150 for every $150, etc.
Now that you know how the money line works in sports betting, here would be the perfect place to clear a confusion often ran into by people new to betting or to the American system of betting odds. It's very important to make a clear distinction between 'money line' and just 'line'. As we already explained, 'money line' is a form of bet, relating to the straight-up outcome of the game. In this aspect, money line is similar to 'point spread' or 'total'. On the other side, 'line' is the payout on the bet, i.e. how much you will win if your bet is a winner. In this regard, 'line' is similar to 'odds', the form for calculating payout in the U.K. (fractional) or 'coefficient', the form for calculating payouts in Europe, also called 'decimal'. I know it got overly complicated all of a sudden so let's look at an example once again. The image below has been taken from the online sportsbook BodogLife and shows part of their NFL betting sheet. To show you the difference between 'money line' the bet and 'line' the form of calculating the payout, we have circled 'money line' with red and some of the 'lines' with blue:
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As you can see, the Titans line on the point spread is -115 or how much you will win if the team covers the spread, while the money line on the Titians is -400 or how much you will win if the Titans win the game.
Related Articles and Explanations:
| How sports betting and the betting odds work? |
| What is point spread, how point spread works, what ATS means |
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Understanding how to read odds is crucial to betting on sports. This guide will teach you how to read odds for moneyline, total, and spread bets. We will be looking at American, decimal, and fractional odds, which are three different ways of writing the same odds.
What are Odds?
Odds represent the likelihood of an outcome occurring. In sports betting, each team is assigned odds that represent the likelihood of them winning the game. When the odds for two teams are even, meaning 1 to 1, it means that each team is equally as likely to win the game. If Team A is assigned 2 to 1 odds, it means Team B is twice as likely to win. If Team A is assigned 10 to 1 odds, it means Team B is ten times as likely to win.
Odds are typically expressed with a positive or negative sign in front of them and are not written as 2 to 1 or 3 to 1.
How do Plus and Minus Odds Work?
In a betting line between two teams, the team expected to win, or favorite, will have minus or negative odds. This means for every dollar wagered, you will earn less than a dollar if your bet wins. The team expected to lose, or underdog, will have positive or plus odds. This means for every dollar you wager, you will gain more than a dollar if your bet wins.
The table below shows an NHL game where the Boston Bruins are favorited to beat the St. Louis Blues.
| Team | Odds | Amount Wagered | Total Payout |
|---|---|---|---|
| Boston Bruins | -150 | $1 | $1.67 ($1 bet + .67 cent won) |
| Boston Bruins | -150 | $10 | $16.67 ($10 bet + $6.67 won) |
| St. Louis Blues | +130 | $1 | $2.30 ($1 bet + $1.30 won) |
| St. Louis Blues | +130 | $10 | $23 ($10 bet + $13 won) |
American Odds
American odds are what you will see displayed on almost every sportsbook. Just like the metric system, dates, and miles per hour (mph), Americans do things differently when it comes to betting odds. Take a look at this standard slate of betting odds from for an MLB game.
| Team | Spread (Runline) | Moneyline | Total |
|---|---|---|---|
| Chicago White Sox | +1.5 (-115) | +140 | Over 9.0 (-120) |
| Los Angeles Angels | -1.5 (-105) | -120 | Under 9 (-105) |
The first thing you will notice when reading odds will be that:
- Odds have either a plus or minus in front of them
- Odds are in terms of 100
Betting Odds are written in terms of 100 as an industry standard. The easiest way to think of the plus and minus signs is as follows. If it is a plus, you will receive more than a $100 payout on a $100 bet. If it is a minus, you will have to bet more than $100 to win a $100 payout.
Thankfully, you can view your potential winnings on each bet before placing it at an online sportsbook. That said, it is beneficial to understand the betting odds.
Moneyline Bets
Definition of bet: A moneyline bet is a wager on which team will win the game outright. Both the favorite and the underdog are given odds to win the game. Read the chart below to get started on reading odds for the following game:
Green Bay Packers (-150) vs. Detroit Lions (+130)
| Moneyline Odds | How to Read it | What it Means |
|---|---|---|
| Lions +130 | Lions plus 130 | By betting $100 you will win $130 if the Lions win |
| Packers -150 | Packers minus 150 | To win $100, you must wager $150 on the Packers to win |
Spread Bets
Definition of bet: A spread bet is a wager on which team will cover the spread or point spread.
How to read spread odds for the following game: Los Angeles Lakers +5 (-110) vs. Houston Rockets -5 (-110)
| Spread Odds | How to Read it | What it Means |
|---|---|---|
| Lakers + 5 (-110) | Lakers plus 5 points at minus 110 odds | The Lakers must win the game, or lose by less than 5 for you to win your bet |
| Rockets -5 (-110) | Rockets minus 5 points at minus 110 odds | The Rockets must win the game by more than 5 points for you to win your bet. A tie is a push, meaning you don't win or lose. |
Total (Over/Under) Bets
Definition of bet: A total bet focuses on how many points are scored, regardless of who wins the game. After a total point score has been set, bettors can wager on whether the actual score of the game will be over or under the set point score.
How to read over/under odds for the following game:
New York Yankees vs. Boston Red Sox Over 7 (-115) Under 7 (-110)
| Total Odds | How to Read it |
|---|---|
| Over 7 (-115) | In order to win $100, you must bet $115 on the overall combined run score to be higher than 7 |
| Under 7 (-110) | In order to win $100, you must wager $110 on the total combined run score to be less than 7 |
Keep in mind for both spreads and totals that if the game ends in a draw for the bet (Yankees 4, Red Sox 3), then you get your bet back but do not win or lose any additional money.
Fractional Odds
Fractional odds are used more commonly in parts of Europe, as well as in horseracing. To calculate fractional odds, you have to do some mental division or enter your desired amount and see what the sportsbook shows as your payout! Here are some odds for a fictitious horse race and how you go about reading them.
| Horse Name | Odds | How to Read it | Your Bet | You Win |
|---|---|---|---|---|
| Laser Focus | 15/1 | Fifteen to one | $10 | $150 |
| American Pride | 7/2 | Seven to two | $10 | $35 (10 x 3.5) |
| Green Eggs | 3/5 | Three to five | $10 | $6 (10 x .6) |
In this race, where we only have three horses, you can see Laser Focus is the underdog, while Green Eggs (no ham) is the favorite. A lot of sportsbooks offer a fractional view if you prefer it to the American odds.
Decimal Odds
Decimals odds are used more commonly in parts of Europe. When using decimal odds, the underdog has the higher of the two numbers, while the favorite has the lower of the two. To calculate decimal odds, you can use the following equation.
Return = Initial Wager x Decimal Value
Example: Let’s say the Arizona Diamondbacks 2.00 are playing the Chicago Cubs 1.90
| Team | Your Bet | Your Return | Your Profit |
|---|---|---|---|
| Arizona 2.00 | $1 | $2 | $1 |
| Chicago 1.90 | $10 | $19.09 | $9.09 |
A lot of sportsbooks offer a decimal view if you prefer it to the American odds.
In conclusion, American odds are almost always displayed at any United States sportsbook, while fractional and decimal odds are almost always displayed at any sportsbook outside of the United States. Check out our Guides Page to see where sports betting stands in your state!
Why do Odds Matter in Sports Betting?
The odds are essential when selecting a sportsbook because they affect your money. If you choose a sportsbook with poor odds, you will end up wasting money every time you place a bet. Let’s say you bet $10 on the Vikings moneyline at -200 at one sportsbook. If you win your bet, you pocket $5. If you went line-shopping and found the same bet for -175 at another sportsbook, you would pocket $6, $1 more. Understanding betting odds allows you to decipher between good and bad odds.
Look at the odds below offered on five games from the 2019 NFL Season. Odds from five different sportsbooks are shown. You'll notice each sportsbook offers different odds for each game. If you were betting on these games, you would be able to find the best odds for your desired bets. Using this strategy of line shopping will allow you to save money while betting on games.
How to Use Odds to Calculate Implied Probability
Odds can be used to calculate the implied probability of a team winning or losing a game. You can use a simple math equation to understand what the sportsbook thinks the probability of each team winning is. For positive odds, probability = 100/(odds + 100). For negative odds, probability = odds/(odds – 100).
| Team | Odds | Implied Odds of Winning | Implied Percentage |
|---|---|---|---|
| Miami Heat | +130 | 100/(130 + 100) = .4347 | 43.47% |
| Chicago Bulls | -110 | -110/(-110 - 100) = .5238 | 52.38% |
If you think the Chicago Bulls have a 70% chance of winning, then betting on them would be considered a smart bet.
The process is simple, but If you don’t feel like doing the math, use ESPN’s gamecast preview: preview or Action Network’s odds calculator.
Odds FAQ
What does a negative point spread mean?
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In a professional sports matchup a point spread is given to each team for sports betting purposes. When a negative point spread is given to a team, it means they are favorited to win the game. When a positive point spread is given to a team, it means they are not expected to win the game.For example, if the Kansas City Chiefs are minus three (-3) against the Los Angeles Rams (+3), then it is expected that the Kansas City Chiefs will win the game and that Los Angeles will lose.
What do odds of +200 mean?
Odds of +200 mean 2 to 1. For every $1 wagered on a team with +200 odds $2 will be paid out. Odds of +200 are greater are offered on teams that are NOT expected to win a game.
How do parlay odds work?
A parlay bet is a group of spread, moneyline, or total bets combined into one bet to increase the payout odds. In order for the parlay to win, each separate bet has to win. Parlay odds offer bigger payouts than normal odds because they are riskier since each individual bet has to win.
Here is an example of a standard parlay payout table based on true odds. What this means is exact payouts are shown for wagers at -110 odds, where a bet of $110 wins you $100.
| Parlay Size | Payouts |
|---|---|
| 2-Team | 2.645/1 |
| 3-Team | 5.958/1 |
| 4-Team | 12.283/1 |
| 5-Team | 24.359/1 |
| 6-Team | 2.645/1 |
| 7-Team | 91.424/1 |
| 8-Team | 175.446/1 |
| 9-Team | 335.852/1 |
| 10-Team | 642.082/1 |
| 11-Team | 1226.701/1 |
| 12-Team | 2342.793/1 |
Methodology
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For the BettingBuck.com annual best online sportsbooks review published in 2020, a total of 2,300 data points were collected over six months and used to score sportsbooks. Additionally, odds data was collected for each sportsbook on over 1,400 bets to give each sportsbook a comparative odds ranking.
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Sports betting sites were scored across seven core categories to computer an overall rating: total number of sports and bets offered, odds, live betting features, mobile apps, educational resources, ease of use, and current bonuses.