Introduction

New to sports betting and confused by moneyline odds? Whether you’re seeing +150 or –120, understanding these numbers is essential for making informed picks. This beginner’s guide breaks it down in plain English — no math degree required.

What Are Moneyline Odds?

Moneyline odds represent the potential payout on a straight-up bet — no point spreads involved. There are two types:

• Positive odds (e.g., +150) show how much profit you’d make on a $100 bet.
• Negative odds (e.g., –120) show how much you’d need to bet to win $100.

Examples of Moneyline Odds

Let’s look at two real-world examples:

• +150: Bet $100 → win $150 profit (you get $250 total).
• –120: Bet $120 → win $100 profit (you get $220 total).

The higher the positive number, the bigger the underdog. The lower the negative number, the heavier the favorite.

Understanding Implied Probability

Moneyline odds also reflect implied probability — how likely a sportsbook thinks a team will win.

• –150 = 60% chance to win (approx.)
• +200 = 33% chance to win (approx.)

Smart bettors compare this to their own expectations. If you think an underdog has a 50% chance — and the odds say 33% — that’s called a value play.

How to Read Odds Like a Pro

Here’s a simple 3-step process:

1. Identify the favorite (usually listed with – odds).
2. Check the value. Do you think the underdog has a better shot than the odds suggest?
3. Compare across sportsbooks. Use odds comparison tools or trusted sources like Parlamaz for the best line.

Bonus Tip: Don’t Chase Longshots

It’s tempting to bet on +400 underdogs for big wins, but even seasoned bettors lose more often than they win on these. Focus on identifying consistent value and stay disciplined.

Where to Bet Safely

Use a licensed and reputable sportsbook. Here are a few we recommend:

• FanDuel Sportsbook – Known for great app experience and frequent promos.
• DraftKings Sportsbook – Offers deep markets and early lines.
• BetMGM – Backed by MGM Resorts, with solid live betting features.
• Caesars Sportsbook – Strong bonus offers and Caesars Rewards integration.
• Fanatics Sportsbook – Rapidly expanding and integrated with Fanatics apparel perks.

You’ll often get sign-up bonuses and boosted odds for new users.

Final Thoughts

Reading moneyline odds is one of the first steps to betting smarter. Now that you know the difference between +200 and –150, you’re better equipped to make strategic picks and spot value. Bookmark this page, and check out our latest expert predictions to put your knowledge into action.

Frequently Asked Questions

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