A money line 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 Money Lines
Standard money line bets have two outcomes, the home team wins or the away team wins. This is called a two-way money line. For sports that can end in a tie, sportsbooks may offer a 3-way money line 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 money line, it is a push: you get your money back. If you bet a winner and a tie happens on a 3-way money line, you will lose your bet. If you are hedging bets, do not place bets 3-way money lines against each other, you risk losing both bets. A 3-way money line can be hedged against a double chance.
Soccer’s 2-way money line is often called a “Draw-No-Bet” or a “Tie-No-Bet”.