A moneyline bet is the simplest wager in sports betting: you pick the team or player you think will win outright. No point spread, no margin of victory, no over/under total. If your pick wins the game, your bet wins. That is it.
Because it is so straightforward, the moneyline is where most Canadian bettors start. This guide explains how the moneyline works, how favourites and underdogs are priced, how payouts are calculated, and which sports suit it best. For more bet types, see our full betting guides hub.
You will find moneylines on every sportsbook going. Start with the best Canadian betting sites, or try one of the new sportsbooks in Canada.
What is a moneyline bet?
A moneyline bet is a wager on which side wins, full stop. You are not asked to cover a margin or predict a total score. You simply back the winner.
Each side gets a price shown in odds. In Canada, private sportsbooks default to American odds (like +150 or -110), while provincial lottery products such as PROLINE+ and Sport Select usually show decimal odds (like 2.50). Both describe the same probability. If American odds look confusing, read our betting odds explained guide first.
The moneyline answers one question: who wins? That clean structure is its biggest appeal, especially for newer bettors.
Favourites vs underdogs: the minus and plus signs
On the moneyline, the sign in front of the number tells you everything.
- Minus (-) means the favourite. The number shows how much you must stake to win $100 in profit. At -150, you risk $150 to win $100.
- Plus (+) means the underdog. The number shows how much profit you win on a $100 stake. At +200, a $100 bet returns $200 in profit.
The bigger the minus number, the heavier the favourite. The bigger the plus number, the longer the odds on the underdog. A team priced at -400 is a strong favourite; an opponent at +320 is a clear long shot.
You do not have to stake exactly $100. The odds simply set the ratio. A $25 bet at +200 wins $50; a $25 bet at -150 wins about $16.67.
How moneyline payouts work: a worked example
Imagine a hockey game with these moneyline prices: the home side is the favourite at -130, the visitors are the underdog at +160. Here is what a $100 bet returns on each.
| Pick | American odds | $100 stake returns (profit) | Total payout |
|---|---|---|---|
| Favourite | -130 | $76.92 | $176.92 |
| Underdog | +160 | $160.00 | $260.00 |
For the favourite at -130, divide 100 by 130, then multiply by your stake: ($100 / 130) x 100 = $76.92 profit. Add your stake back for a $176.92 total payout.
For the underdog at +160, divide the odds by 100, then multiply by your stake: (160 / 100) x $100 = $160 profit, for a $260 total payout.
The underdog pays more because it is less likely to win. The favourite pays less because it is more likely. Neither outcome is a sure thing, which is why bigger payouts always come with bigger risk.
Best sports for moneyline betting
The moneyline shines in lower-scoring sports, where games are often decided by a single goal or run and a point spread is awkward to apply.
- Hockey (NHL): many games are tight, so backing a winner outright is popular. The spread alternative here is the puck line, usually set at 1.5 goals.
- Soccer: low scores and frequent draws make outright winner bets natural, though soccer adds a third option (see below).
- Baseball (MLB): single-run margins are common, so the moneyline is widely used alongside the run line.
In higher-scoring sports like basketball and gridiron football, heavy favourites can carry steep prices (think -500 or worse). Many bettors there prefer the point spread, which evens out the payout. Comparing the two is covered next.
Moneyline vs point spread (and puck line)
The moneyline asks only who wins. The point spread asks whether a team wins by a certain margin, or stays within it. The trade-off is simple.
- Moneyline: easier to win on a favourite, but the payout is smaller. Backing a big favourite ties up a lot of stake for little return.
- Point spread: the favourite must win by more than the spread, but the payout is usually close to even money (around -110 each side).
In hockey, the spread version is the puck line at -1.5 / +1.5 goals; in baseball it is the run line. Choosing between them comes down to how confident you are and how much value you want. If you only need your team to win, the moneyline is cleaner. If you want a bigger price on a strong favourite, the spread can offer it.
Three-way moneyline in soccer
Soccer adds a wrinkle: matches can end in a draw. A standard soccer moneyline is therefore a three-way market with three outcomes to price.
- Home win
- Draw
- Away win
For example, a match might show the home side at +120, the draw at +230, and the away side at +210. Because the stake is split three ways, even favourites often carry plus odds. A draw is a real result, so the home and away prices are usually longer than they would be in a two-way market.
Some books also offer a two-way (draw no bet) version, where your stake is refunded if the match ends level. The two-way price is shorter because the draw risk is removed. Read the market label carefully so you know whether a draw wins, loses, or refunds your bet.
Tips for betting the moneyline
A few habits help you bet the moneyline sensibly.
- Avoid heavy favourites for value. Risking $400 to win $100 leaves little room for error. Even strong favourites lose sometimes.
- Look for underdog value. A plus-money pick you rate higher than the price implies is where long-term value betting lives.
- Combine picks carefully. Stacking several moneylines into a parlay boosts the payout but compounds the risk; one loss sinks the whole ticket.
- Manage your stakes. Set a unit size and stick to it. Our bankroll management guide covers the basics.
No moneyline pick is ever guaranteed. Treat every price as a probability, not a promise, and bet within your limits. Single-event betting has been legal across Canada since August 2021; you can read more on whether sports betting is legal in Canada.
Moneyline odds, probability and payout
| American odds | Implied probability | Profit on $100 |
|---|---|---|
| -200 | 66.7% | $50 |
| -150 | 60.0% | $66.67 |
| -110 | 52.4% | $90.91 |
| +100 | 50.0% | $100 |
| +150 | 40.0% | $150 |
| +200 | 33.3% | $200 |
| +300 | 25.0% | $300 |
Moneyline by sport: where it matters most
The moneyline is the default market in low-scoring sports, which puts it at the centre of the Canadian betting calendar.
- Hockey (NHL): with most games decided by a goal or two, the moneyline is the most popular way to back a team outright, and the puck line is the spread alternative.
- Baseball (MLB): the moneyline is the primary market, with the run line alongside it.
- Soccer: priced as a three-way moneyline (home, draw, away), because a draw is a real result.
- Basketball and football (NBA, NFL, CFL): the point spread usually leads, but the moneyline is there for backing an underdog to win outright.
The rule of thumb: the closer a sport’s games tend to be, the more work the moneyline does. That is why hockey and baseball bettors live on it.
Frequently Asked Questions
A moneyline bet is a wager on which team or player wins the game outright. There is no point spread and no margin to cover. If your pick wins, your bet wins.
A minus sign marks the favourite. The number shows how much you must stake to win 100 dollars in profit. At -150, you risk 150 dollars to win 100 dollars.
A plus sign marks the underdog. The number shows how much profit a 100 dollar bet returns. At +160, a 100 dollar bet wins 160 dollars in profit, for a 260 dollar total payout.
A three-way moneyline is used in soccer and other sports that can end in a draw. It prices three outcomes: home win, draw, and away win. Your stake is split across all three results.
The moneyline is easier to win on a favourite but pays less. The point spread pays closer to even money but the favourite must win by a set margin. The better choice depends on your confidence and the value you want.
Lower-scoring sports like hockey, soccer, and baseball suit the moneyline because games are often decided by a single goal or run. In higher-scoring sports, many bettors prefer the point spread instead.
Yes. The two sides of a moneyline are priced so their implied probabilities add up to more than 100%, and that gap is the sportsbook margin.
For a plus price, divide 100 by the odds plus 100. For a minus price, divide the odds by the odds plus 100. A -150 favourite implies 60%.
Yes. Because NHL and MLB games are low-scoring, the moneyline is the primary market, with the puck line and run line as the spread alternatives.
Betting should be entertainment, not a way to make money. Set limits before you start, take breaks, and never bet to recover losses. If gambling stops being fun, free, confidential help is available: ConnexOntario 1-866-531-2600 (Ontario), BC Responsible Gambling 1-888-795-6111, or your province’s helpline.
19+ (18+ in AB/MB/QC) | Please play responsibly | Odds approximate at time of writing | ConnexOntario: 1-866-531-2600 (ON) – see your province’s helpline for resources elsewhere.