What does moneyline mean?

Two prices, no points

You will see it written as moneyline or money line. It is the same thing. Every game has two prices: the favorite with a minus, where at -150 $150 wins $100 and $30 wins $20, and the underdog with a plus, where at +130 $100 wins $130 and $30 wins $39.

The margin doesn't matter. Your team wins by one or by thirty and a moneyline bet pays the same.

What the price is saying

Every price is a percentage: divide what you risk by what you get back in total. At -150 you risk 150 to get back 250, which is 60 percent. At +130 you risk 100 to get back 230, which is 43.5 percent. That is how often each bet has to win to break even. The two add up to 103.5, and the 3.5 over 100 is the book's cut.

I'd do that sum on every moneyline before betting it, and then ask whether the team wins more often than that. Be careful laying big prices, because at -300 you need to win 75 percent of the time, and one loser takes back three winners. I never liked laying that kind of price on anything with a ball in it.

Moneyline or spread

The same game has a moneyline and a point spread. The spread evens the game up with points and charges about -110 on both sides, while the moneyline leaves the game as it is and evens it up with the price, so on a favorite the moneyline costs more and wins more often, and on an underdog it pays more and wins less often. If you think the underdog keeps it close, take the points. If you think it wins, take the price.

Compare books, too. Moneyline prices differ between them more than spreads do. And bet the same size you would on a spread, because a favorite is not a reason to bet more.

When there are three prices

In soccer the moneyline has three outcomes: one team, the other, or the draw. Bet a team and the game ends level, and you lose. That is a three-way moneyline, and it is a different bet. The moneylines guide goes further.

A moneyline asks who wins. The price tells you how sure you need to be.