Moneyline
A moneyline is a type of betting market where a wager is made on which team or player will win a given match outright. They are one of the most common sports bets placed along with spreads and totals.
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Moneyline Odds
Unless both players or teams have the same implied probability of winning the match a moneyline betting market will feature a favorite and an underdog. This is displayed in different ways depending on odds format.
American Odds
American odds (alternatively referred to as moneyline odds) is a format predominantly used in the United States. Positive and negative numbers are used to indicate potential profit. A bet on a moneyline with a negative number would require the bettor to risk that amount in order to profit $100. A bet on a moneyline with a positive number would see the bettor win that amount if they risked $100. It should be noted that bets can be for any amount and are not required to be in increments of $100.
Two competing teams with equal moneyline odds would normally be set at -110 due to the bookmaker's commission (known as the vig). A risk of $110 would yield a $100 profit on either side. The more a team is favored to win the more negative the moneyline odds will become. Odds of -150 would now require a greater risk of $150 to profit $100.
| Moneyline Odds | Risk | Profit | Return |
| -500 | $500 | $100 | $600 |
| -250 | $250 | $100 | $350 |
| -200 | $200 | $100 | $300 |
| -150 | $150 | $100 | $250 |
| -110 | $110 | $100 | $210 |
Consequently, the larger the underdog the more positive the odds will be. A moneyline set at +150 will require a smaller risk of $100 to produce a greater profit of $150. The table below visualizes the transition from negative to positive odds:
| Moneyline Odds | Risk | Profit | Return |
| -105 | $105 | $100 | $205 |
| -101 | $101 | $100 | $201 |
| +100 | $100 | $100 | $200 |
| +101 | $100 | $101 | $201 |
| +105 | $100 | $105 | $205 |
In the example below the New England Patriots are favored to win with -180 moneyline odds. A bet of $180 would yield a profit of $100 for a total return of $280 in the event of an outright Patriot victory by any margin. The Baltimore Ravens are underdogs with +160 moneyline odds. A wager of $100 would produce a $160 profit and a total return of $260 should the Ravens win.
| Team | Spread | Total | Moneyline | |
|
New England Patriots | -3.5 (-110) | Over 44.5 (-110) | -180 |
|
Baltimore Ravens | +3.5 (-110) | Under 44.5 (-110) | +160 |
Decimal Odds
Decimal odds format is commonly used in Canada and across Europe. In order to calculate total return multiply the amount staked by the decimal odds. The larger the number, the more return per unit staked.
When considering moneylines with decimal odds anything below 1.91
| Team | Spread | Total | Moneyline | |
|
|
New England Patriots | -3.5 (1.91) | Over 44.5 (1.91) | 1.55 |
|
|
Baltimore Ravens | +3.5 (1.91) | Under 44.5 (1.91) | 2.60 |
Fractional Odds
Fractional odds are primarily used to when discussing betting markets with long odds such as futures, but can also be used for moneyline wagers.
Odds are presented in the form of a fraction. Multiplying the risk amount by a market's fractional odds will calculate the total profit that would be made in the event of a win. The smaller the fraction the more that team or player is favored to win (resulting in a bigger payout). The larger the fraction the more that team or player is an underdog (resulting in a greater payout).
| Team | Spread | Total | Moneyline | |
|
|
New England Patriots | -3.5 (10/11) | Over 44.5 (10/11) | 5/9 |
|
|
Baltimore Ravens | +3.5 (10/11) | Under 44.5 (10/11) | 8/5 |
Twenty-Cent Lines
The indust