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Betting 101 · Red Meat & Cigar Club editorial

Moneylines

Just pick the winner.

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Empower Field at Mile High, NFL stadium
Photo: Pdubs.94 / Wikimedia Commons, CC BY-SA 4.0

Example numbers — made up for illustration, not real lines

The moneyline is the simplest bet in sports: pick who wins. No point spread, no totals — the final result is all that matters. It's the default in baseball and hockey, very common in soccer and combat sports, and available on nearly every game in every major league.

How it's priced

Because a favorite and an underdog aren't equally likely to win, the sportsbook prices them differently. Example: Home -170, Opponent +145.

Converted to implied probability, -170 is about 63% and +145 about 41% — a total near 104%, with the extra being the book's margin.

Favorites: lower payout, not a sure thing

Betting heavy favorites can feel safe, but big minus prices mean you risk a lot to win a little. At -400 you risk $400 to win $100, and the price implies the favorite loses about one time in five. Upsets happen every weekend. A single loss at -400 wipes out the profit from four wins.

Underdogs: higher payout, lower odds of winning

Plus prices pay more because the book thinks the outcome is less likely. An underdog at +250 implies about 29%. Underdogs are fun — a small bet on a big upset is a classic way to add excitement — but they lose more often than they win.

Sport-by-sport

Baseball: the moneyline is the main bet, and prices depend heavily on the starting pitchers. Books may list the bet as tied to the named starters. Hockey: moneylines are standard; check whether the bet includes overtime and shootouts (it usually does). Soccer: often a three-way moneyline — home, draw, or away — because games can end tied, plus a two-way "draw no bet" option. Football and basketball: spreads are more popular, but moneylines are always available. Combat sports: fights are priced on the moneyline, often with separate method-of-victory props.

Moneyline vs. spread

Choosing between them is about which question you want to answer. The moneyline asks "who wins?" The spread asks "by how much?" A favorite might be -7 on the spread and -320 on the moneyline; an underdog +7 or +260. Neither is inherently better; they're two prices on the same game.

Live moneylines

During games, books post live moneylines that move with the score and clock. They change fast and can carry wider margins. If you watch games with an app open, set limits beforehand — live betting makes it easy to place more bets than you planned.

Key takeaways

Worked example

Example: a baseball game lists Home +125 and the opponent -145. A $20 bet on Home returns $45 total ($25 profit) if they win. A $29 bet on the opponent returns $49 total ($20 profit). The implied probabilities are about 44.4% and 59.2%, totaling about 103.6%. If the listed starting pitcher is scratched, many books void "listed pitcher" bets, while "action" bets stand regardless. Check which kind you placed.

Common mistakes

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