Moneyline and Point Spread Explained: How US Bets Pay and Settle
Moneyline vs point spread in one line: a moneyline is a bet on who wins, priced so the favourite pays less (-180: stake $180 to win $100) and the underdog more (+155: stake $100 to win $155). A point spread gives the underdog a head start (+6.5) and asks the favourite to win by more than that (-6.5), with both sides usually priced at -110. A result exactly on a whole-number line is a push and the stake comes back.
The minus sign tells you what you risk; the plus sign what you win. Everything else on a US betting menu (spreads, totals, parlays, props) is built on those two numbers, so it pays to read them properly before the first bet of the NFL or NBA season.
This guide works through the payout maths with real numbers, shows how a spread bet wins, loses or pushes, explains what -110 costs you over a season and sets out how each sport settles overtime, draws and shootouts. Settlement wording comes from operator house rules filed with a US state regulator. No tips, no picks, no operators.
How American odds pay: the two formulas
- Minus odds (favourite): profit = stake × 100 ÷ odds. $110 at -110 wins $100; $50 at -125 wins $40.
- Plus odds (underdog): profit = stake × odds ÷ 100. $50 at +150 wins $75; $20 at +300 wins $60.
- Implied probability: odds ÷ (odds + 100) for minus prices, 100 ÷ (odds + 100) for plus prices. -110 implies 52.38%; +150 implies 40%.
| Odds | Stake | Profit if it wins | Implied probability |
|---|---|---|---|
| -300 | $100 | $33.33 | 75.00% |
| -180 | $100 | $55.56 | 64.29% |
| -120 | $100 | $83.33 | 54.55% |
| -110 | $100 | $90.91 | 52.38% |
| +100 (even) | $100 | $100.00 | 50.00% |
| +155 | $100 | $155.00 | 39.22% |
| +200 | $100 | $200.00 | 33.33% |
To switch between American, decimal and fractional prices use the odds converter; the guide to how betting odds work covers the three formats side by side.
The moneyline: a bet on the winner
Take an illustrative NFL moneyline of Kansas City -180, Denver +155. A $100 bet on Kansas City returns $155.56 if they win ($55.56 profit plus the stake); a $100 bet on Denver returns $255. If you lose, you lose the stake, whatever the margin.
Where the bookmaker's margin hides. The two implied probabilities are 64.29% and 39.22%, which add up to 103.50%. The extra 3.50% is the overround. Strip it out proportionally and the “fair” chances are 62.11% and 37.89%. The no-vig calculator does this for any two- or three-way market.
Two-way and three-way moneylines. In US sports the standard moneyline has two outcomes and includes overtime. A three-way moneyline adds the tie: in hockey it is sold as the “60-minute line” and ignores overtime and the shootout (our NHL overtime and shootout guide explains the difference), and in soccer it is the familiar 1X2 market settled on 90 minutes.
The point spread: winning by enough
Illustrative line: Philadelphia -6.5 (-110), New York Giants +6.5 (-110). Add the spread to the team's final score and see who comes out ahead. Philadelphia needs to win by 7 or more; the Giants cover if they win or lose by 6 or fewer.
| Final score | Philadelphia -6.5 | Giants +6.5 |
|---|---|---|
| Philadelphia 27-17 (wins by 10) | Wins | Loses |
| Philadelphia 24-17 (wins by 7) | Wins | Loses |
| Philadelphia 23-17 (wins by 6) | Loses | Wins |
| New York 20-17 (Giants win) | Loses | Wins |
Whole numbers can push.Had the line been Philadelphia -7, the 24-17 result would be a push on both sides and every stake would be returned. That is why books often hang half-point lines (the “hook”): -6.5 and -7.5 cannot land exactly. In the NFL many games are decided by 3 or 7 points, so moving a line across those numbers changes its value more than moving it across, say, 5 or 9.
Run line and puck line. Baseball and hockey use a fixed spread of 1.5 runs or goals, and the price moves instead of the line: a favourite at -1.5 might be +140, the underdog at +1.5 might be -170.
What -110 costs you: the 52.38% break-even
At -110 on both sides, a book that takes $110 on each team holds $220 and pays the winner $210. The $10 it keeps is 4.55% of the money bet (the “vig on handle”), and the overround on the prices is 4.76%. For you it means a 50/50 bettor loses money: you need to win 52.38%of -110 bets to break even, because 110 ÷ 210 = 0.5238.
The break-even odds calculator gives the required win rate for any price, and the margin calculator shows how much juice a whole market carries. Lines at -105 instead of -110 lower the break-even to 51.22%.
Moneyline or spread on the same team
Suppose a favourite is -300 on the moneyline and -6.5 (-110) on the spread. A $100 moneyline bet wins $33.33 if the team wins by any margin. A $100 spread bet wins $90.91, but only if the team wins by 7 or more; a 3-point win loses the spread bet and wins the moneyline. The moneyline implies a 75% chance of winning; the spread implies roughly an even chance of winning by 7 or more.
Neither is the “smart” bet in itself. What matters is whether the price is better than your honest estimate of the chance, and both prices include the bookmaker's margin.
Totals (over/under) and parlays
Totals. An over/under of 44.5 at -110 each way is a bet on the combined score: 23-21 (44) is under, 24-21 (45) is over. On a whole number such as 44 a 23-21 result is a push; one regulator-filed rulebook gives the example of an over 100 bet on a game that ends 60-40 being settled as a push.
Parlays. Moneylines, spreads and totals can be combined into a parlay. A three-leg parlay at -110 per leg pays $595.79 profit on $100. If one leg pushes, US-licensed books typically reduce it to a two-leg parlay at the recalculated price ($264.46 profit) rather than voiding the bet; the whole parlay is void only if every leg is voided or pushes. Try any combination in the parlay calculator.
How each sport settles overtime, draws and shootouts
| Sport | Market | Standard settlement |
|---|---|---|
| NFL and college football | Moneyline, spread, total | Overtime included as standard at US-licensed books; a tie after overtime makes a two-way moneyline a push |
| NBA and college basketball | Moneyline, spread, total | Overtime included; 3-way moneyline and 4th-quarter markets exclude it |
| NHL | 2-way moneyline | Includes overtime and shootout |
| NHL | 3-way / 60-minute line | Regulation only: a tie after 60 minutes wins the draw |
| MLB | Moneyline, run line (±1.5) | Extra innings count; a tied game that is concluded is a push |
| Soccer | 3-way moneyline (1X2) | 90 minutes plus stoppage time; extra time and penalties do not count |
These are the usual defaults; each operator's house rules are the contract. The DraftKings rules filed with the Massachusetts Gaming Commission, for instance, state that basketball bets “include overtime statistics for settlement purposes” and that hockey two-way moneylines “include results from any overtime and/or shootout”, while three-way moneylines do not. For the NFL detail, including how ties are graded, see NFL overtime rules and tie bets; for a soccer handicap that removes the draw, see the Asian handicap calculator.
Frequently asked questions
What does moneyline mean in betting?
A moneyline bet is a bet on who wins the game, with no points added or taken away. The favourite has a minus price (for example -180, so you stake $180 to win $100) and the underdog a plus price (for example +155, so a $100 stake wins $155). In the NFL, NBA, MLB and NHL the standard moneyline is two-way and includes overtime; a three-way or 60-minute moneyline adds the draw and is settled on regulation time only.
What does -110 mean on a point spread?
-110 is the price of the spread bet: you stake $110 to win $100, or $11 to win $10. A team at -6.5 (-110) must win by 7 or more for the bet to win; the team at +6.5 (-110) wins the bet if it wins the game or loses by 6 or fewer. At -110 you need to win 52.38% of your bets just to break even.
What happens if the point spread lands exactly on the number?
It is a push and the stake is returned. A team at -7 that wins by exactly 7 pushes; so does a total of 44 when the final score adds up to 44. Half-point lines such as -6.5 or 44.5 cannot push. In a parlay, US-licensed books normally drop a pushed leg and recalculate the odds on the remaining legs instead of voiding the whole bet.
Is it better to bet the moneyline or the spread?
Neither is better in itself; they price the same game in two ways. The moneyline pays only if your team wins, so a big favourite pays little (-300 returns $33.33 profit on $100). The spread pays roughly even money (-110) on both sides but asks the favourite to win by a margin. Compare the implied probability of each price with your own estimate, and remember both carry the bookmaker's margin.
Do point spreads and moneylines include overtime?
In American football and basketball, standard moneyline, spread and total bets at US-licensed books include overtime unless the market says regulation or 4th quarter only. In ice hockey the two-way moneyline includes overtime and the shootout, while the three-way 60-minute line does not. Soccer bets are settled on 90 minutes plus stoppage time. Always check the house rules of your licensed operator.
How do you calculate a payout on American odds?
For minus odds, profit = stake x 100 / odds (ignore the minus sign): $50 at -125 wins $40. For plus odds, profit = stake x odds / 100: $50 at +150 wins $75. The total returned is the profit plus your stake. To turn odds into implied probability, use odds / (odds + 100) for minus prices and 100 / (odds + 100) for plus prices.
Sources
- DraftKings Massachusetts Sportsbook House Rules (implementation date 26 August 2025), filed with the Massachusetts Gaming Commission — massgaming.com
- Payout, implied probability and margin figures on this page are calculated by Verdecto from the prices shown; the lines are illustrative, not current odds.
18+ (21+ in most US states). Sports betting is legal only where your state, province or country allows it, and only with a locally licensed operator. A -110 price means the average bettor loses over time; bet only what you can afford to lose. In the US, free confidential help is available on 1-800-GAMBLER. Deposit limits, time-outs and more support are on our responsible gambling page.