Money Line Bets Explained

As a professional sports bettor, one of the most common questions I get from aspiring gamblers is: “What’s the simplest bet to understand and start with?” The answer is always the same—money line bets.

Money line bets are the foundation of sports betting. They’re straightforward, versatile, and critical to long-term betting success. Whether you’re a complete beginner or a seasoned bettor looking to sharpen your edge, understanding money line betting inside and out is essential.

In this article, I’ll break down exactly what a money line bet is, how to read the odds, how to identify value, and most importantly—how to use money line betting to grow your bankroll like a pro.

What Is a Money Line Bet?

Let’s start with the basics. A money line bet is the most fundamental wager in all of sports betting. It simply means you’re betting on which team or player will win a game or match—no point spreads, no complications.

Bovada Online Casino

When you Join Bovada you will instantly score up to $3000 when you deposit at the biggest online casino. Bovada Offers the best slot machines and table games for USA players. Fast Payments, Crypto and Credit Card Friendly.

Visit Bovada Now Review

Unlike spread bets, where a team has to win by a certain number of points or cover a spread, money line betting only asks: Who wins, and who loses?

Example of a Money Line Bet:

Let’s say there’s an NFL game:

• Kansas City Chiefs: -150
• Miami Dolphins: +130

If you bet on the Chiefs at -150, you need to wager $150 to win $100. If you bet on the Dolphins at +130, a $100 wager wins you $130 if they pull off the win.

That’s all there is to it. No spreads. No totals. Just picking a winner.

How to Read Money Line Odds

As a pro bettor, I can tell you that reading odds quickly and understanding what they mean is a non-negotiable skill. In the U.S., money line odds are usually displayed with a plus (+) or minus (-) sign.

Here’s what each one means:

Favorites:

A minus sign (-) means that team or player is the favorite. The number shows how much you need to bet to win $100.

• Example: -180 = Bet $180 to win $100.

Underdogs:

A plus sign (+) means that team or player is the underdog. The number shows how much profit you make on a $100 wager.

• Example: +180 = Bet $100 to win $180.

This system helps you understand not only the potential return but also the implied probability of each side winning, which is critical for calculating value—something we’ll dive into shortly.

Money Line Odds Across Different Sports

Money line betting is not limited to just one sport. In fact, it’s the most popular betting format for several sports worldwide.

Let’s take a quick look at how it’s commonly used in different games:

1. Baseball (MLB)

Money lines are the primary form of betting in baseball. Because MLB games often have lower-scoring outcomes, point spreads (called run lines) are less significant. Bettors focus heavily on pitching matchups, lineups, and recent form to find value.

2. Hockey (NHL)

Like baseball, hockey is a low-scoring sport where the money line is the most common wager. NHL bettors also factor in goalie performance, injuries, and home-ice advantage.

3. Boxing & MMA (UFC)

Money lines dominate combat sports betting. You’re simply picking the fighter you believe will win. A heavy favorite might be -400, while a live underdog could be +300. These markets can be highly volatile and offer excellent upset opportunities.

4. Football & Basketball (NFL/NBA/NCAA)

While spread betting is king in football and basketball, money line bets are still heavily used, especially when bettors want to avoid the variance of late-game covers or when betting underdogs straight up.

5. Tennis, Soccer, Golf

In these global sports, money line bets are often called “match winner” bets. Soccer may also offer three-way money lines that include a draw option, but more on that in a moment.

Understanding Implied Probability

One thing every serious bettor should know is how to convert odds into implied probability. Why? Because this tells you what the sportsbook thinks the chances of a team winning are—and whether you agree is how you find value.

Here’s the formula:

• For negative odds (favorites):
  Implied Probability = Odds / (Odds + 100)
  Example: -150 → 150 / (150 + 100) = 60% chance to win
• For positive odds (underdogs):
  Implied Probability = 100 / (Odds + 100)
  Example: +150 → 100 / (150 + 100) = 40% chance to win

If you believe the underdog has a better than 40% chance to win in that situation, that’s a value bet.

The Value Betting Mindset

Professional bettors don’t bet based on who they think will win. They bet based on whether the odds offer value.

Let me say this again for emphasis: You don’t need to win every bet—you just need to beat the market consistently over time.

What Is Value?

Value means the odds being offered are better than the actual probability of the outcome occurring.

Here’s a quick example:

• You believe a team has a 50% chance of winning.
• The sportsbook is offering +130 odds (implied probability of 43.5%).

This is a +EV (positive expected value) wager. Over time, these bets are how you beat the house.

Avoiding Common Money Line Mistakes

Many new bettors fall into predictable traps when betting money lines. Here are a few pitfalls to avoid:

1. Always Betting Favorites

It’s easy to fall into the trap of betting favorites because they “should” win. But consistently laying -200 or -250 odds kills your long-term ROI unless your win rate is elite. Look for value, not comfort.

2. Chasing Longshot Underdogs

On the flip side, chasing big underdogs just because the payout looks juicy is a fast way to drain your bankroll. Big plus odds don’t always mean “value.” You still need a statistical edge.

3. Ignoring Market Movement

Smart money influences odds. If a money line is moving sharply, pay attention—it may reflect injury news, sharp action, or public bias. Monitoring line movement gives you a competitive edge.

4. Overbetting Favorites in Parlays

Many recreational bettors stack heavy favorites into parlays to boost returns. This strategy often leads to death by one upset. Every added leg increases risk. Instead, look for small, sharp, high-value bets.

When to Bet Money Lines Over Point Spreads

As a pro bettor, I often debate whether to take the spread or the money line. Here’s a quick rule of thumb:

• Take the spread when you believe the underdog can cover but not necessarily win.
• Take the money line when you believe the underdog has a solid chance to win outright.

On the flip side, if you’re backing a slight favorite at -120 instead of laying -3 points, the money line can reduce risk in close games—especially in college basketball and NFL matchups.

Advanced Strategy: Betting the Underdog Money Line

One of the most profitable long-term strategies I’ve used is identifying undervalued underdogs with a legitimate chance to win. These are often teams with misleading recent results or matchup advantages not priced into the line.

Here’s how I find them:

• Statistical analysis: Efficiency metrics, shooting variance, turnover rates
• Situational angles: Home-road splits, travel fatigue, coaching matchups
• Market psychology: Public overreaction to one or two games

These underdogs don’t need to win every time. You just need to hit at a profitable clip over the long run.

Live Money Line Betting – A Hidden Gem

Live betting is one of the most exciting ways to leverage money lines, especially for pros who watch games closely.

If a favorite starts slow and goes down early, their money line odds shift dramatically. This creates buy-low opportunities if you believe they’ll bounce back. I’ve cashed countless tickets this way, taking a team at +200 after a poor first quarter, knowing full well they had the firepower to recover.

The key is timing and having a deep understanding of in-game momentum and coaching patterns.

Three-Way Money Lines – What You Need to Know

In sports like soccer, hockey (regulation), and international basketball, you’ll often see three-way money lines:

• Team A Wins
• Team B Wins
• Draw (Tie)

These bets settle at the end of regulation. If you want to bet a team to win including overtime, make sure you’re choosing the correct market. Don’t let an unexpected draw void your ticket.

Mastering Money Line Betting

Money line bets may seem simple on the surface, but mastering it requires discipline, sharp instincts, and a data-driven mindset. As a professional bettor, money lines are a staple in my strategy—not because they’re “easier,” but because they offer some of the clearest value opportunities in the betting markets.

Whether you’re betting a tennis upset, a low-scoring NHL battle, or a Sunday night NFL showdown, money line betting gives you the freedom to trust your gut—and your numbers.

Study the lines. Watch the markets. Find the value. And always remember: it’s not about picking winners—it’s about picking the right price