In sports betting, a moneyline bet is one of the most popular ways to wager. It’s simple: you back the team you think will win. No handicaps, no totals — just the outright winner.
Moneyline betting is especially common in U.S. sports but also plays a role in football (soccer), where the “draw” adds an extra layer of complexity. In this guide, we’ll explain:
- What moneyline odds mean
- How to read and convert them
- Moneyline betting in football (3-way and draw no bet)
- Strategies, tips, and examples
How Moneyline Odds Work
Moneyline odds show you how much you stand to win when betting on a team or player.
- Negative moneyline (−150) = favourite. You’d need to stake £150 to profit £100.
- Positive moneyline (+200) = underdog. A £100 bet would return £200 profit.
- Even matches may appear as +100 / −100 (or evens).
👉 Related reading: How to Read Betting Odds
Moneyline Betting in Football (Soccer)
Unlike sports with no draws, football uses a 3-way moneyline:
- Home Win
- Draw
- Away Win
This means your selection loses if you didn’t back the exact outcome. To reduce risk, many punters use:
- Draw No Bet (DNB): stake refunded if the match ends level
- Double Chance: covers two outcomes (e.g. Home Win OR Draw)
👉 Learn more: Draw No Bet Explained | Football Betting Guide
Converting Moneyline to Decimal or Fractional Odds
Since UK punters often use decimal or fractional odds, here’s how to convert:
- +200 = Decimal 3.00 = Fractional 2/1
- −150 = Decimal 1.67 = Fractional 2/3
Formula:
- Positive: (Moneyline ÷ 100) + 1
- Negative: (100 ÷ |Moneyline|) + 1
👉 See also: Odds Conversion Guide
Implied Probability & Bookmaker Margin
Moneyline odds also tell you the implied probability of a result. For example:
- +200 → Decimal 3.00 → Implied Probability = 33.3%
- −150 → Decimal 1.67 → Implied Probability = 59.9%
Bookmakers build in a margin (the “vig”), meaning the combined probabilities usually exceed 100%. Recognising this helps identify “value” bets.
👉 Related reading: Value Betting Explained
Pros & Cons of Moneyline Betting
Advantages
- Simple — pick the winner
- Great for underdog value
- Easy to understand for beginners
Disadvantages
- Small returns on heavy favourites
- In football, the draw complicates matters
- Requires careful odds shopping
Moneyline Betting Strategies
- Shop for best prices — use multiple bookmakers
- Look for value — compare implied probability to your own analysis
- Consider DNB or double chance in football where draws are common
- Avoid over-staking on short favourites
👉 See also: Football Betting Strategies
Examples of Moneyline Bets
Example 1 (Two-way):
- Team A −120 → Bet £120 to profit £100
- Team B +100 → Bet £100 to profit £100
Example 2 (Football 3-way):
- Home +150 | Draw +200 | Away +350
A £100 bet on Away returns £350 profit if successful.
FAQs
Is a moneyline the same as a win bet?
Yes. In UK/Europe, it’s often called a “win market” or “head-to-head.”
What happens if a football match ends in a draw?
If you didn’t select “Draw” in a 3-way moneyline, your bet loses. DNB refunds your stake in this case.
Why are moneyline odds so skewed for favourites?
Because bookmakers balance betting action and protect margin — underdogs often offer bigger potential payouts.
Summary
- A moneyline bet is a wager on who will win the match outright
- Odds can be positive (underdog) or negative (favourite)
- Football betting usually offers a 3-way moneyline (Home/Draw/Away)
- Knowing how to convert odds and calculate implied probability can reveal value opportunities
👉 Want to learn more? Check out our guides to Over/Under betting and Point Spread betting