What Is Moneyline Betting? A Beginner's Guide to Moneyline Bets

What Is a Moneyline Bet?

A moneyline bet is the simplest and most popular way to bet on sports because you’re only picking the winner of a game or event. If your selection wins, your bet wins. If it loses, your bet loses.

For example, imagine the Toronto Maple Leafs are playing the Montreal Canadiens. A moneyline bet asks one simple question: Who wins the game? It doesn’t matter whether Toronto wins by one goal or five. If your market includes overtime, any Toronto victory is a winning bet. We’ll explain settlement rules later in this guide.

Alongside each selection, you’ll see odds that tell you two things: how much your bet could return and how likely the sportsbook believes each team or player is to win. Learning to read those odds is the key to understanding moneyline betting.

Moneyline markets are available across most major sports, including the NHL, NBA, MLB, CFL, soccer, tennis, UFC, boxing and esports. While the concept stays the same, settlement rules can vary by sport, particularly when it comes to overtime and extra time.

How Moneyline Wagering Works

Every moneyline market has two sides, each priced with American odds. One team or player will be the favourite, shown with negative odds, while the underdog is listed with positive odds. The difference in price reflects how the sportsbook has assessed each side’s chances of winning before the game begins.

A line of +100 represents an evenly matched contest, with both sides considered 50/50. From there, the odds move in opposite directions as one side becomes more or less likely to win.

Favourite vs. Underdog

Let’s use an NHL matchup as an example:

• Toronto Maple Leafs: -150
• Montreal Canadiens: +130

Toronto is the favourite because the sportsbook believes they’re more likely to win. Montreal is the underdog because it’s considered less likely to win. That doesn’t guarantee either outcome. It simply reflects how the game has been priced before it starts.

Because favourites are expected to win more often, they offer smaller payouts. Underdogs pay more because they have a lower implied chance of winning.

A bigger payout doesn’t automatically make an underdog the better bet, just as shorter odds don’t guarantee a favourite will win. The odds reflect price, not certainty. Later in this guide, we’ll explain why understanding price is often more important than simply picking the winner.

Worked Example

Imagine you’re betting $20 on the Toronto Maple Leafs at -150.

Bet Slip

• Selection: Toronto Maple Leafs Moneyline (-150)
• Stake: $20
• Potential Profit: $13.33
• Total Return: $33.33

Your bet wins if the Maple Leafs win the game, subject to that sport’s settlement rules, which we’ll cover later.

Using a Bonus Bet? Most Bonus Bets return profit only. If you placed a $20 Bonus Bet on this wager, your return would be $13.33, not $33.33, because the Bonus Bet stake isn’t returned.

Understanding Moneyline Odds

Moneyline odds do two things: they show how much a winning bet pays and how the sportsbook has priced each team’s chances of winning. Once you understand how to read the numbers, you’ll be able to identify favourites and underdogs, estimate payouts and compare betting prices with confidence.

American Odds

Most Canadian sportsbooks display moneyline odds using American odds.

• Negative odds (e.g. -150): Favourite
• Positive odds (e.g. +130): Underdog
• +100: Evenly matched contest (50/50 pricing)

For example:

A price of -150 means you’d need to risk $150 to win $100 in profit. A price of +130 means a $100 bet would return $130 in profit.

These figures are simply a standard way of expressing the odds. You can stake any amount, and your potential profit scales accordingly.

Decimal Odds

Many Canadian sportsbooks also offer decimal odds.

Instead of showing profit relative to a $100 benchmark, decimal odds display your total return, including your stake, for every $1 wagered.

For example:

• 1.67 returns $1.67 for every $1 staked.
• 2.30 returns $2.30 for every $1 staked.

Because your stake is already included, decimal odds make payout calculations much simpler.

What the Odds Tell You

Odds are not predictions. They’re the sportsbook’s way of pricing each team’s estimated chance of winning before the game begins.

Shorter odds generally indicate a higher expected chance of winning, while longer odds represent less likely outcomes.

Remember, probability is not certainty. Favourites lose and underdogs win every day. The odds simply reflect the sportsbook’s price for each outcome.

We’ll cover implied probability in more detail in a dedicated Academy guide.

Calculating Payouts

The easiest way to calculate a payout is with decimal odds.

Formula

Stake × Decimal Odds = Total Return

To calculate profit, subtract your original stake.

Most sportsbooks calculate potential payouts automatically on the betting slip. Understanding the math is still useful because it helps you compare prices across sportsbooks and identify better odds on the same event.

How Moneyline Bets Are Settled

After placing a moneyline bet, the only question is whether your selection wins under the rules of the market you chose. In most cases, settlement is straightforward. The main differences involve overtime, extra time and postponed games.

Winning and Losing Bets

A moneyline bet is settled using the official result of the market you selected.

For example, if you place a $20 moneyline bet on the Toronto Raptors:

• If the Raptors win, your bet wins and your sportsbook credits your stake plus any winnings.
• If the Raptors lose, your bet loses and your stake is forfeited.

Unlike point spreads or totals, the margin of victory doesn’t matter. A one-point win and a 20-point win are settled exactly the same.

Most sportsbooks settle wagers shortly after the result becomes official. If your bet remains marked as Pending, it’s usually because the sportsbook is verifying the final result before grading wagers.

Overtime and Extra Time

Not every moneyline market includes overtime or extra time. Settlement depends on the sport and the market you’ve selected.

For example, imagine the Toronto Maple Leafs and Montreal Canadiens are tied 2-2 after 60 minutes before Toronto scores in overtime.

• Full Game Moneyline: Winning bet
• Regulation Moneyline: Losing bet

The same game can produce different betting results depending on the market you selected.

Beginner Tip: Always check the market name before placing your bet. Full Game, Moneyline and Regulation Time markets may look similar but can settle differently.

Postponed and Cancelled Games

If a game is postponed, suspended or cancelled before it’s completed, sportsbooks will usually void the bet and refund your stake. If the event is rescheduled, whether your wager remains active depends on the sportsbook’s house rules.

Although these situations are uncommon, it’s worth checking the settlement rules whenever a game doesn’t finish as scheduled.

Moneyline Betting Across Different Sports

The basic concept of a moneyline never changes. You’re always betting on which team or player will win. What differs between sports is whether overtime, extra time or shootouts count toward the result.

The biggest exception is soccer. A standard moneyline is usually settled after 90 minutes plus stoppage time. If a cup match goes to extra time or penalties, those periods don’t count unless the market specifically says To Advance, Lift the Trophy, or After Extra Time.

Tip: Always read the market description before placing your bet. Two moneyline markets on the same game can have different settlement rules.

Moneyline vs Other Popular Bet Types

Choosing the right betting market depends on what you’re trying to predict. If your opinion is simply about who will win, a moneyline is usually the best choice. If you’re predicting the margin of victory, total scoring or want protection against a draw, another market may be a better fit.

Moneyline vs Point Spread

A moneyline asks who wins the game. A point spread asks by how much.

For example:

• Moneyline: Toronto Raptors -180
• Point Spread: Toronto Raptors -6.5 (-110)

A moneyline only requires Toronto to win. A point spread requires the Raptors to win by 7 points or more.

Choose a moneyline when you’re confident a team will win but aren’t sure by how much.

Choose a point spread when you have an opinion on the margin of victory and want a stronger payout than a heavy favourite’s moneyline.

Moneyline vs Totals (Over/Under)

A moneyline is about picking the winner. A total is about predicting the combined score.

For example, if the Blue Jays and Yankees have a total of 8.5 runs:

• Over 8.5: 9 or more runs are scored.
• Under 8.5: 8 or fewer runs are scored.

Choose a moneyline when your strongest opinion is on the winner.

Choose a total when your opinion is on how the game will be played, such as a high-scoring game or a pitcher’s duel.

Moneyline vs Draw No Bet

In soccer, a standard moneyline loses if the match ends in a draw. A Draw No Bet refunds your stake instead.

Because the draw is removed as a losing outcome, Draw No Bet usually offers lower odds than a standard moneyline.

Choose a moneyline when you’re confident one team will win.

Choose Draw No Bet when you like one team but think a draw is a realistic possibility.

Comparison Table

Before placing a moneyline bet, take a few minutes to understand the matchup itself. Recent form, injuries, confirmed lineups, head-to-head results, and home-versus-away performance can all influence a team’s chances of winning. Flashscore’s standings, match statistics, lineups, and H2H pages make it easier to review those factors before comparing sportsbook odds.

Before You Place a Moneyline Bet

Using Flashscore to Research Moneyline Bets

Once you’ve formed an opinion about which team is more likely to win, use Flashscore to see whether the available evidence supports or challenges that view.

Before placing a moneyline bet, I usually check:

• Recent form
• Home and away records
• Expected lineups
• Injuries and suspensions
• Head-to-head results
• Key match statistics, including metrics such as Expected Goals (xG) when available

I’m not looking for one statistic to make the decision for me. I’m looking to see whether the overall evidence points in the same direction.

For example, if I expect the home team to win but discover it’s missing several key players, has struggled at home recently or its underlying numbers don’t support its results, it’s worth reassessing before placing the bet.

The goal isn’t to find reasons to justify a pick. It’s to test your opinion against the available evidence. If the facts don’t support your initial view, it’s often better to rethink the bet than force it.
Common Beginner Mistakes
Most beginner mistakes aren’t caused by misunderstanding the rules. They’re caused by misunderstanding what the odds are telling you. Avoid these common pitfalls to make better moneyline betting decisions.

Assuming Favourites Always Win

Favourites win more often, but they aren’t guarantees. Shorter odds simply reflect a higher expected chance of winning.

Instead of asking, “Who’s most likely to win?”, ask “Is this a fair price?” That’s a better habit for making informed betting decisions.

Chasing Large Underdog Payouts

Big underdog prices like +250 or +400 can be tempting, but a larger payout doesn’t automatically make it a better bet.

Higher odds reflect a lower expected chance of winning. Back underdogs because you believe the odds underestimate their chances, not because the payout is attractive.

Ignoring Settlement Rules

Settlement rules are easy to overlook until they cost you a winning ticket.

For example, an NHL team can win in overtime while a Regulation Time moneyline still loses because only the score after 60 minutes counts.

Always check the market name before placing your bet.

Focusing Only on Potential Returns

Many new bettors focus on how much they could win.

Experienced bettors focus on why the sportsbook is offering that price. That shift in thinking helps you evaluate probability instead of chasing payouts.

Confusing Higher Odds with Better Value

Higher odds don’t automatically mean better value.

A team at +300 isn’t necessarily a better bet than one at -120. Value comes from comparing the odds with your own assessment of a team’s chances of winning, not simply choosing the biggest payout.

We’ll explore betting value in more detail in a dedicated Academy guide.
Final Thoughts
Moneyline betting is the foundation of sports betting because it teaches one of the most important concepts: the relationship between price and probability.

Picking the winner is only part of the decision. The better bettors learn to evaluate whether the odds fairly reflect a team’s chances of winning.

As you continue through the Flashscore Betting Academy, you’ll learn how implied probability, betting value, line movement and bankroll management build on these same principles.

Every bettor starts by picking winners. The bettors who improve learn to read the price.