What is a Moneyline?

A moneyline bet is a bet on a team to win. The odds are set based on how likely that team is to win.

In the image above the Eagles are the favorite and you would need to bet $146 to win $100. The 49ers who are the underdog at +124 means betting $100 would win $124.

2-Way vs 3-Way Moneylines

Standard moneyline bets have two outcomes, the home team wins or the away team wins. This is called a two-way moneyline. For sports that can end in a tie, sportsbooks may offer a 3-way moneyline that includes the Tie (or draw) as an outcome:

This is an important distinction. If you bet a winner and a tie happens on a 2-way moneyline, it is a push: you get your money back. If you bet a winner and a tie happens on a 3-way moneyline, you will lose your bet. If you are hedging bets, do not place bets on 3-way moneylines against each other, you risk losing both bets. A 3-way moneyline can be hedged against a double chance.

Soccer’s 2-way moneyline is often called a “Draw-No-Bet” or a “Tie-No-Bet”.