What is the Moneyline? Bet on the Outcome of an Event

By Eric Pauly
Fact Checked by Joss Wood

One of the most tried and true ways to bet on your favorite team is moneyline betting. A moneyline bet is a simple bet on a team to win a match. Now that Kansas sports betting has officially launched, we will be breaking down how moneyline odds and betting work along with the best websites to use to make moneyline bets.

Best Moneyline Betting Sites in Kansas

All of the top Kansas sports betting apps are great options for moneyline betting. The operators have a variety of unique features, sign up/deposit bonuses, and line shopping, so we recommend taking a look at all the top books. One operator that stands out in this regard is DraftKings Kansas, as bettors can place a moneyline wager using DK's $100 free bet promo. 

What is a Moneyline Bet In Kansas?

In the simplest terms, a moneyline bet is a wager on which team will win an event. One team will have negative odds, and that team is the favorite to win. The other team will have positive odds to win, and they are the underdog.

The payout of a moneyline bet depends on the odds you get on a team to win. Also, the moneyline odds on an event tell sports bettors what the implied probability is for that team to win. Moneyline odds show the confidence, or lack thereof, that bookmakers have in a team to win and it also plays a factor in determining the spread on a game.

The Favored Team

In most matchups, one team is always priced as the favorite to win the game. If a team has negative odds, they are more often than not the favorite, unless the sportsbook has both teams as even. Depending on how heavily favored a team is determines the payout of a bet. If a team is only a -120 favorite, a $100 bet would pay out $183. If a team is heavy moneyline favorites, their odds may be -600, meaning a $100 bet would pay out just $116.

The Underdog

Underdogs are teams that are priced with positive betting odds to win an event. The moneyline odds of a team to win a game shows each team's implied probabilities to win. The more positive a team's odds are, the bigger underdog they are. If a team is a +120 underdog, a $100 bet would pay out $220, but if they are a +500 underdog, a $100 bet would pay out $600.

Even/Close Odds

When bookmakers decide teams are evenly matched and the winner will come down to essentially a coin flip, they give both teams in an event the same chance to win. Sportsbooks will price both teams at -110, or both teams will have negative odds with one team paying slightly less vig. In these cases, the spread of the bet is probably within a point, so it may make more sense to bet the team you want to win on the moneyline odds.

Possible Outcomes On Kansas Moneyline Bets

When placing a moneyline bet in most sports, there are just two outcomes, win or lose. If you take a moneyline bet on a team to win, and they win, you cash the bet. If the other team wins, you lose, there is no in between. However, in sports like soccer and football, teams can tie. 

In football, if the team you bet to win ties, your bet gets graded as no action. In soccer, there are normally odds for teams to draw, so that becomes another thing to consider when betting. Before placing a moneyline bet be sure to check out the Kansas sportsbook promos to make the most out of your wager. 

Wins

The great part of moneyline betting is that nothing is left up for interpretation. If you bet on a team to win, and they win, you win. Whether the team is -120 favorites or a +5000 underdog, a win is a win, and the payout you get is determined by the odds of the team you chose to win.

Losses

Just like wins are wins in moneyline betting, losses are losses. If you take a team to win, whether they're -5000 favorites or +150 underdogs, if they do not win the actual game, you lose. If you are betting on heavily favored teams, you are normally going to be paying a lot of money in vig to win not that much money in return. If you are betting on heavy underdogs, you do not need to put up as much money for a larger pay day.

Draw

In sports like basketball, baseball, and hockey where there are no ties, you do not have to worry about the outcome of a draw. In a sport like football, there is a chance the team you bet on to win ends the game in a tie. In these situations, the tie means that the bet goes no action and the customer gets their money back. In soccer, there are odds for the match to end in a draw along with teams to win, so if you bet a team to win in soccer, and the team ties, you lose.

Calculating Payouts On Moneyline Odds in Kansas

The moneyline odds of a team give bettors information on what the implied probability is of that team to win the game. If a team has -1000 moneyline odds to win, that means they have a 90.91% implied probability to win. So, a $100 bet on a -1000 favorite would net the bettor $10. If a team is a +1000 underdog, their implied probability to win is 9.09%, and a $100 bet would pay out $1000.

Minus Odds

A team with minus odds on the moneyline odds is the favorite. A team being the favorite means they have over a 50% implied probability to win the game so bettors need to bet more for a smaller payout. Potential payouts and potential winnings are all determined by the moneyline odds of a team to win, and these odds are determined by their calculated implied probability to win. So a team with -110 odds means there's a 52.38% implied probability they win and a $100 bet would net $90.

Plus Odds 

A team with positive moneyline odds are known as underdogs. Underdogs are teams with under a 50% implied probability to win a match up. The higher the odds are, the bigger the payout is. A team can be a +110 underdog and a $100 bet would net the bettor $110, or a team can be a +1000 underdog and a $100 bet would pay out $1,000. The less of a chance the sportsbooks give a team to win an event, the more they pay out when they do win.

Even Odds

When teams have even odds to win a game, that means that the sportsbook does not have one team as a favorite over the other. Normally, in games where sportsbooks see the teams as even, each team will have -110 odds to win. For example, if sportsbooks think the Kansas City Royals and the St. Louis Cardinals both have the same chance to win, the odds will be -110 for both teams. A $100 wager on either team would win $90 if the bet wins.

What Sports Can You Bet the Moneyline in KS?

Point spreads are typically the most popular bet in NFL, college football and college basketball, but aren't really used much in low-scoring sports and most individual sports. All have moneyline odds though. 

  • Football Moneylines

    During football season, if you think a NFL team is going to win a game outright, you can bet them on the moneyline to win. If that team wins the event, you win the bet. If the team loses, you lose, but if the team ties, your bet goes no action and you are refunded the principle. For example, if the Kansas City Chiefs are facing the Las Vegas Raiders, the odds may be Chiefs -200 and Raiders +150. The Chiefs are the favorites and a $100 wager would net a bettor $50 if they win, and the Raiders are underdog and a $100 wager would net a better $150 if they win.

  • Basketball Moneylines

    The NBA is a grind of a season, and there are tons of opportunities to make moneyline bets on mispriced odds in these games. If a team is an underdog, and you think they should be favored, there is value in taking an NBA bet on the moneyline. For example, if the Knicks are +200 against the Nuggets, but you think the Knicks should be -110, the Knicks +200 moneyline is a great bet.

  • Baseball Moneylines

    With a slate of 162 games for a season, there are a ton of winning bets to be found on baseball games. There aren't very many huge underdogs in MLB betting since teams can win any game and there are so many games per year. Baseball moneylines are often mispriced and it is a hard task for bettors and bookmakers to price out every game properly. For example, if the New York Yankees are -120 against the Colorado Rockies, but you think they Yankees should be -220, the Yankees moneyline is a great bet.

  • Hockey Moneylines

    Just like in baseball, the moneyline odds of two hockey teams are generally pretty close to each other. There are not a lot of instances where teams are heavily favored or are very large underdogs. For example, if the Lightning are -120 to win the game, but you believe they should be -220, taking the Lightning -120 is a great bet.

Moneyline Parlay Bets for Kansas Bettors

You can parlay multiple games in different sports with different odds into one single parlay bet. The odds of the parlay will be the combined odds of the individual straight bets that are in the bet slip. In order for a moneyline parlay bet to hit, all of the teams in the bet must win their game. For example, a three-team moneyline parlay on the Chiefs (-200), Mets (-150) and Rangers (+200) would have +650 betting odds. So, a $100 bet would net $650 if all three teams won their respective matchups.

How Is Moneyline Related To A Spread Bet?

Though a moneyline bet and spread bet are two separate wagers, there is a correlation between moneyline odds and the spread. A favorite that has a minus moneyline (-220, for example) will also be giving points on the spread. This means their game could be priced as the Chiefs -6 points. These points will be subtracted from that team's final score to determine whether they covered the spread.

Similarly, an underdog that has a plus moneyline (+520, for example) will be getting points on the spread, which means there will be points added to their final total.

Spread bets, besides in baseball and hockey, almost always have odds are +100 to -120 for the spread of an event. A moneyline bet can have odds from +1000 to -1000, and whatever the odds on that team to win are will determine what the spread of the game should be.

Learn More About Moneyline Betting in Kansas

 In order to familiarize yourself with moneyline odds, take a look at all the major operators such as Caesars Sportsbook Kansas and look at how they have each team listed on the board and priced out accordingly. Moneyline betting is the simplest way to get down action, and bettors have been doing it forever, so it is important to begin understanding moneyline odds and how they operate. 

Moneyline Betting Guide for Kansas Bettors FAQs

Contributors

Eric Pauly is a betting analyst with BetKansas.com. He has used more Kansas betting apps than most people could name and has become a trusted source in the online sports betting industry.Eric's expert reviews of the top Kansas sportsbooks are as valuable as they come. He breaks down everything bettors need to know, from the top Kansas sportsbook promo codes to legislative updates in KS.

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