Favorite or underdog
Moneyline Calculator
Enter a moneyline and either your bet or the amount you want to win. Add the other side’s line to see the vig and the fair price.
Win-or-lose bets only. Favorite/underdog and the fair line come from both sides’ prices with the margin removed proportionally — an estimate, not a guarantee.
Transparent math
How moneyline payouts work
American odds are built around $100. The sign tells you which side of that $100 you are on.
Read our methodology → Odds chart: every common moneyline →Positive moneyline: profit = S × M ÷ 100
payout = stake + profit
implied probability = 1 ÷ decimal odds
Example: $100 on each side of −150 / +130
- Favorite −150: $100 × 100 ÷ 150 = $66.67 profit, $166.67 back
- Underdog +130: $100 × 130 ÷ 100 = $130.00 profit, $230.00 back
- Even money +100 (also written −100): profit equals the stake
Work backwards
How much to bet to win $100
Switch the calculator to “Amount to win” to solve for the stake. This is how favorites are quoted: the number is what you risk to win $100.
To win $100 at +130: risk $76.92
Why the underdog needs less
- The underdog pays more per dollar, so a smaller stake reaches the same target
- That higher payout exists because the underdog is expected to win less often: 43.48% implied vs 60.00% for the favorite
Both sides of the line
The vig inside a moneyline — and the fair line
Add the other team’s moneyline and the calculator shows how much margin the sportsbook built in, and what each side would be priced at without it.
Fair (no-vig) line: −138 / +138
Reading it
- A standard −110 / −110 line carries a 4.76% margin; −150 / +130 carries 3.48%
- Betting either side at the book’s own price is negative EV against the fair line — favorite here: −3.36%
- A better price somewhere else can flip that: +145 on the underdog is 2.94% by the no-vig estimate. Full workings in the no-vig calculator and EV calculator
The fair line is the market’s own estimate with the margin stripped out, not a guarantee of the true chance. If betting stops being fun, see our responsible gambling page.
Learn the math
Guides that go with this calculator.
FAQ
Frequently asked questions
How do you read a moneyline?
A moneyline is a bet on who wins, priced in American odds. A minus number tells you how much to stake to win $100: at −150 you risk $150.00 to win $100. A plus number tells you how much a $100 stake wins: at +130, $100 wins $130.00. In a two-way market the minus side is usually the favorite — the side the market rates more likely to win — but both sides can be negative (−120 / −110), and then the favorite is simply the shorter price.
How much do I win on a $100 moneyline bet?
On the favorite at −150, a $100 bet wins $66.67 and returns $166.67 including your stake. On the underdog at +130, the same $100 wins $130.00 and returns $230.00. At even money (+100) it wins exactly $100.00.
What does a moneyline say about win probability?
Every moneyline implies a probability: −150 implies 60.00% and +130 implies 43.48%. Together they add up to more than 100% because the sportsbook builds in a margin — here 3.48%. Removing it proportionally gives fair lines of about −138 / +138.
Is the favorite or the underdog the better bet?
Neither by default. The price is what matters: a bet is only worth it if your honest win probability beats the break-even probability the odds imply. On this market the fair underdog line is +138, so +145 elsewhere would be 2.94% EV by the no-vig estimate — check any price with the EV calculator. The market expects the favorite to win more often, so it pays less; that is all a moneyline encodes.
What happens to a moneyline bet if the game is a tie?
It depends on the market. In two-way moneylines (most US sports, including overtime) a tie is rare; if a game is officially drawn or cancelled, books usually void the bet and return your stake. Soccer moneylines are often three-way (home / draw / away), where a draw simply loses a home or away bet. Check the market rules — this calculator assumes the bet wins or loses.
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