- Selection Is Key. In the same way the real estate is about location, location, location, betting on the.
- With a moneyline wager you’re betting only on which team will win. A wager is successful as long you pick the winning team, regardless of whether the team wins by one point or 20. Here’s an example of a.
Moneyline bets present the most straightforward way to wager on a sports contest. A moneyline wager simply asks the bettor to choose which team will win a game, with no point spread involved.
The payout odds on the favorite and underdog can differ significantly on a moneyline bet. Using a moneyline calculator breaks down the math on the odds, which allows bettors to assess the true value on each side.
In sports betting, a moneyline bet is a wager on which team will win a game. Moneylines are the primary wagering option for hockey and baseball, while for basketball and football they are viewed as a. JOIN NOW AND BET ON THE NFL Back in the day, there was only one way to bet on the NFL: fixed-odds betting. This is a bet where each team is given specific odds to win, and you pick one side or the other.
The following page includes the GamingToday.com MoneyLine Calculator, as well as several valuable tables and graphs designed to help bettors gain an edge with moneyline bets.
Moneyline Calculator
Fill in the dollar amount for your bet and the American Odds (for example -110) and calculate the implied probability and the return on the moneyline.:
What Is A Moneyline Bet?
Legal US sportsbooks generally present several different ways to wager on sports. Moneyline bets represent just one of several different wagering options, which include point spread, totals, parlays, and in-game betting.
Moneyline Bets
A moneyline wager allows the bettor to put a bet on which team or athlete will win a contest, straight up. The moneyline underdog will always pay out at better odds than the favorite.
Skilled bettors look for value on moneyline bets by evaluating teams that have a better chance of winning than the implied probability of the odds might dictate.
Moneyline favorites are listed with “-” odds, and the underdog is listed at “+” odds.
For example, here’s a look at a line offered by PointsBet on Game 1 of the 2020 World Series:
| Point Spread | Total | Moneyline | |
|---|---|---|---|
| Tampa Bay Rays | +1.5 (-150) | Over 7.5 (+100) | +140 |
| LA Dodgers | -1.5 (+130) | Under 7.5 (-121) | -165 |
American Odds
PointsBet sets the Los Angeles Dodgers as the favorite in the game, with -165 moneyline odds. To calculate “-” odds, divide 100 by the odds, then multiply that quotient by the amount you bet.
For example, suppose you want to calculate how much profit a $50 bet on the Dodgers would yield. First divide 100 by 165 (without the “-”), which yields 60.6. Then multiply that number by your $50 bet to arrive at the profit (60.6*$50=$30.30).
A $50 bet on the Dodgers at -165 odds would yield $30.30 in profit. The $50 wager would return $80.30 to the bettor ($30.30 profit plus the original $50 bet).
To calculate “+” odds, divide the odds by 100 and multiply that product by the amount of the wager.
A $50 bet on the Tampa Bay Rays, for instance, would calculate as 140/100 (which yields 1.4), multiplied by $50 (1.4*$50=$70). A winning $50 moneyline bet on the Rays returns $120 total to the bettor ($70 profit plus the original $50 bet.)
Decimal Odds
Decimal odds can be used to make a simple calculation of odds multiplied by wager amount to arrive at the total amount returned to the bettor.
The -165 odds on Los Angeles, for example, convert to 1.6061 decimal odds using the Gaming Today moneyline calculator. Multiplying that by a $50 bet yields $80.30, and subtracting the original bet amount yields the profit earned ($80.30-$50=$30.30).
What Is A Moneyline Calculator?
Betting Moneyline Football
The Gaming Today Moneyline Calculator allows for quick calculations for any wager amount and payout odds. Using American, decimal, fractional, Hong Kong, Indonesian, or Malay Odds, you can input the odds and the amount of a wager and see the payout that would come if the bet is a win.
While it’s valuable to understand and be able to calculate favorite and underdog Moneyline odds for all of the different odds notations, the moneyline calculator can save a significant amount of time and energy.
One of the most important features of the Gaming Today Moneyline Calculator is the Implied Probability feature.
For any favorite or underdog input, the calculator produces the implied probability of that team winning. Astute bettors can use the calculator to find teams that have a higher actual win probability than the implied probability dictated by the odds.
The “To Win” window displays the amount of profit yielded by any combination of odds and wager amount. To calculate the return to the bettor, add the “To Win” number to the original amount of the wager.
How To Use The Moneyline Calculator To Place A Sports Bet
Suppose you wanted to put the Gaming Today Moneyline Calculator to work to decide how you wanted to bet on Game 1 of the 2020 World Series. Here’s another look at the lines offered on that game by PointsBet:
| Point Spread | Total | Moneyline | |
|---|---|---|---|
| Tampa Bay Rays | +1.5 (-150) | Over 7.5 (+100) | +140 |
| LA Dodgers | -1.5 (+130) | Under 7.5 (-121) | -165 |
To calculate a $50 moneyline wager on the Tampa Bay Rays, input $50 in the “Bet Amount” window and put “+140” in the “American Odds” window. Hit enter or click on the “Convert Odds” button and see how the moneyline calculator converts that information into several different useful categories.
The calculator converts the “+140” odds into all of the different notations you might see used by a sportsbook.
The +140 American odds convert to 2.40 decimal odds, 7/5 fractional odds, 1.40 for Indonesian/Hong Kong odds, and -0.7143 Malay Odds. A tool like our moneyline calculator can be a crucial component of a betting strategy when evaluating odds at sportsbooks that use different notations.
The “Implied Probability” output tells you that at +140 odds, the Rays have a 41.67% implied probability of winning. A skilled bettor will take that bet if they think Tampa Bay’s actual chance of winning the game is higher than that.
The “To Win” output yields the profit produced if the Rays win. A $50 winning bet on the Rays yields $70 in profit and a $120 total return to the bettor ($70 profit plus the $50 original bet).
Looking for other calculators to use when sports betting? Check out:
Calculating Positive And Negative Moneyline Odds
The math used in calculating the payout on a moneyline is pretty simple. It is one of the most important first steps to understanding sports betting and is crucial to success. Below is a graph of profit won on $100 bets for negative odds. Note that it is a curve that approaches, but will never get to $0. Even -1,000,000 odds still yields some profit from a win:
And here is a graph of profit for positive numbers. The really important difference is that the line is linear. as the odds increase, so does the profit. That goes on forever.
Looking at the odds offered by the sportsbook, note whether they are negative odds (for example -110) or positive odds (for example +120). The calculation changes based on if it is a positive or negative odd. Below we work through an example of a bet of $100 at -110 moneyline odds. It is important to notice that multiplying by -1 is required to give us the positive payout:
PAYOUT = BET AMOUNT / (-1 *MONEYLINE ODDS / 100)
So that looks like:
$90.91 = $100 / (-1 * -110/100)
That also means that you will be returned that amount AND your original bet, meaning you now have $190.91. Let’s work another negative example of a $100 bet at -150:
$100 / (-1 * -150 / 100) = $66.67
Now let’s work through a positive money example. Let’s say you bet $100 at +120
PAYOUT = BET AMOUNT * ODDS / 100
That looks like:
$120 = $100 * 120 / 100
In that case, you are returned your original bet plus profit, so you now have $220.
What Is Line Movement?
Sportsbooks make money by setting lines that bring in an appropriate amount of wagers on both sides of a bet. The house offers odds that factor in a cut of overall wagers, known as vig, that goes to the sportsbook.
In the World Series Game 1 example from above, if 90% of bets come in on the Dodgers, the sportsbook stands to lose big money if Los Angeles wins. A Tampa Bay win in that situation is even more disastrous for the sportsbook.
If the bets coming in on a game are too one-sided, the line on the game will start to move to try to prompt more bets for the other side. It’s important to remember that sports betting isn’t a zero-sum game, and you’ll be losing in the long run even if you win 50% of the time.
Legal Online Sports Betting In The US
A federal mandate known as the Professional and Amateur Sports Protection Act (PASPA) was overturned in May 2018, giving US states the legal clearance to offer state-regulated sports betting. Several states now offer both retail and online sports betting, including New Jersey, Pennsylvania, Nevada, Illinois, Indiana, Colorado, and several others.
The top online sport betting brands in the US include the following:
DraftKings Sportsbook
One of the biggest brands to emerge in the booming online sports betting industry, DraftKings Sportsbook offers mobile sports wagering in eight states. The sportsbook offers every imaginable kind of wager across multiple sports.
That betting menu includes daily moneyline opportunities on all major US sports leagues, as well as numerous international leagues. A tool like the Moneyline Calculator can be an indispensable tool to use for evaluating the odds and implied win probabilities at DraftKings Sportsbook.
FanDuel Sportsbook
Another huge player in the legal sports betting market, FanDuel Sportsbook offers mobile sports wagering in seven states. Along with DraftKings Sportsbook, FanDuel Sportsbooks stands as one of the top two mobile sports betting brands in the US.
FanDuel Sportsbook’s vast selection of moneyline wagering options becomes a potentially profitable market for bettors using a moneyline calculator. Such a tool allows sharp players to compare odds across multiple sportsbooks and only place the most favorable bets.
FOX Bet
A collaboration between FOX Sports and The Stars Group, the FOX Bet brand operates online sportsbooks in New Jersey, Pennsylvania, and Colorado.
The moneyline odds at FOX Bet can vary greatly versus some of its competitors, and bettors using a moneyline calculator tool gain a significant edge versus players that don’t.
Moneyline Calculator FAQs
Yes. More than a dozen states either currently offer online sports betting or have a launch of mobile sports betting products pending.
New Jersey, Nevada, and Pennsylvania represent the three biggest online sports betting markets in the US. Other states with legal online sports wagering include Colorado, Illinois, Indiana, Iowa, West Virginia, and a few others.
The Gaming Today Moneyline Calculator can be used as a valuable resource on any moneyline bet. It’s especially useful for evaluating the implied probability of winning and payout odds.
The moneyline bet calculator’s ability to display odds across multiple notation formats (American, Decimal, Fractional, Indonesian/Hong Kong, and Malay odds) allows bettors to compare lines across sportsbooks that use different notations.
Even if you’re a veteran sports bettor, running every bet you’re considering through the calculator provides significant benefit.
Yes. Nothing in the terms and conditions of any US legal online sportsbooks prohibits the use of a moneyline calculator.
The calculator provides computations that any person could produce with pen and paper but in a much faster and more efficient manner.
For “+” American odds, divide the odds by 100 and convert that quotient into a fraction. To convert +160 into fractional odds, for example, divide 160 by 100 (160/100) and reduce that fraction to the lowest whole number denominator. American odds of +160 would convert to 8/5 fractional odds.
For “-” American odds, divide 100 by the odds and convert to the simplest form fraction. For -160 odds, for example, the calculation looks like 100/160, which reduces to 5/8 fractional odds.
To convert “+” American odds to implied winning probability, the formula looks like this:
100 / (“+” American odds + 100)*100 = implied probability
For example, +160 odds would be calculated as 100/(160+100)*100. This converts to 100/260*100, which ends up yielding a 38.46% implied probability.
To convert “-” odds, the formula looks like this:
“-” odds / (“-” odds + 100)*100 = implied probability
For instance, -160 odds would translate to 160/(160+100)*100, converting to 160/260*100, which yields a product of 61.54. The implied probability of -160 odds is a 61.54% chance of winning.
Several online sportsbooks offer comprehensive coverage of sports and ways to bet. Some of the best choices for online sports betting in the US include DraftKings Sportsbook, FanDuel Sportsbook, PointsBet, FOX Bet, and BetMGM.
When most people think about betting sides in football their thought process starts and ends with the point spread. That’s unquestionably the most common and popular way to bet on the winner of a football team, but it’s not the only way. The moneyline is thought by many people to be just the way to bet on baseball, hockey, and tennis, but there is a moneyline set for every NFL game and most college games. I would never suggest that the moneyline should be bet instead of the point spread in football. The moneyline is definitely something that even casual football bettors understand, though, so that they can use it if it makes sense and gives them a better chance for profit. Simply, the moneyline is a very powerful tool to have in your football betting toolbox.
The biggest reason why people shy away from the moneyline is probably that they don’t understand them. They are really quite simple once you figure them out, though. The biggest thing to remember, and expert sports handicappers know this, is that unlike the point spread all you have to do is figure out which team is going to win. It doesn’t matter how much they win by – if you bet on a team on the moneyline and they win then so do you. In order to balance out the action – to get about as much money bet on the underdogs as the favorites – sports books charge different prices for the favorites and underdogs. The easiest was to understand this is with an example. If the Patriots were slight favorites over the Jets in a game then the moneyline odds might have the Patriots at -130 and the Jets at +120. That means that you would have to bet $130 to make a profit of $100 on the Patriots. You could obviously bet any amount you wanted on them, and the payoff would be calculated at the same proportion. Because the Jets are the underdog and therefore at least theoretically less likely to win you are rewarded more for betting on them – the +120 means that you would make a profit of $120 for every $100 bet. Because you have to bet considerably more to make a $100 profit at -350 than you do at -130 the team at -350 would be a significantly bigger favorite. On the other side, a team at +350 would be a much bigger underdog than a team at +120.
Here are five situations where smart sports bettors might consider using a moneyline bet instead of a point spread bet in football:
When betting on a slight underdog – Let’s say that you are betting on an underdog that is getting less than a field goal on the point spread. It’s certainly possible that the extra point or two you have in your favor are going to be relevant in the final score, but chances are good that you are betting on a slight underdog in a case like this not because you think that they are only going to lose by one point, but because you think that they have a good chance of winning the game outright. If you didn’t think that then your bet wouldn’t make much sense. In a case like that the moneyline make more sense than the point spread. You are going to lose on the moneyline if the team does win by one or two points (if the point spread is 2.5), so there is more risk involved. In exchange for taking on that slight extra risk, though, you have a chance at a nicer payoff. The point spread would generally be priced at -110, but the moneyline for the same team would be somewhere in the neighborhood of +120 (there is no direct relationship between point spreads and moneylines, so the best you can do is estimate). That’s a significant difference in potential payoff, and would certainly be attractive if you thought there was a good chance that the underdog was going to win outright.
When betting on a heavy underdog – If you have bet football for a while then you know that sometimes there are situations where you feel confident that a heavy underdog is not only going to cover a big spread, but has a very good chance of winning the game outright. Let’s say a NFL team is a 10.5 point underdog in a game, but you like their chances. If you bet them against the spread and they win outright then you get paid off at -110, so your $100 bet makes a profit of about $91. The moneyline on a 10.5 point underdog would be about +450, so that same $100 bet would generate a profit of about $450. You don’t have to be right very often to generate a better long term profit on the moneyline than against the spread. The trick, of course, is that the bet only makes sense if you think there is a good chance of an upset win. If not then you are just gambling, and smart bettors don’t gamble.
Betting On Moneyline Football
When you are parlaying – If you parlay three teams against the spread then you are paid off at fixed odds if you are right. Those odds are set by the sports books and are always significantly lower than the actual risk involved. For example, when you are betting a three team parlay there are eight possible outcomes – WWW, LLL, WLL, LWL, LLW, WWL, WLW, and LWW. Only one of those outcomes – WWW – would cause you to win your parlay bet. That means, then, that on the long term you would need odds of 7/1 to just break even, and better than that to make a profit. Most sports books pay off on three teams parlays at 6/1, or at best 6.5/1, though. That means that even if you can pick winners at the expected rate – harder than it seems – you are going to lose money over the long term. That’s called a negative expectation, and smart bettors hate negative expectations. Moneyline parlays don’t pay off at a fixed rate. Instead, the potential payout is essentially calculated by multiplying the odds of the games you are betting on together. If you were parlaying three games at +110 then the payoff would be exactly the same as if you bet on the first game, took all of your winnings and bet that on the second football game, and took all of the winnings from the that game and let it all ride on the third game. In other words, moneyline parlays payoff at true odds, and that’s always more attractive than negative expectations. That doesn’t necessarily mean that moneyline parlays are a good idea, but they aren’t as bad of an idea as point spread parlays usually are.