Two formulas cover every moneyline bet you'll ever see. Underdog (positive odds): (Odds ÷ 100) × Stake. Favorite (negative odds): (100 ÷ |Odds|) × Stake. Both give you profit only — add your original stake back to get the total payout.
Why Two Separate Formulas for Moneyline Payouts?
American odds work differently depending on which side of the line you're on. Positive odds tell you how much you profit per $100 wagered. Negative odds tell you how much you must risk to profit $100. That's the whole split, and it's why the arithmetic flips. If you want the full story on how the numbers are constructed, How American Moneyline Odds Actually Work walks through the logic from the ground up.
How Do I Calculate an Underdog Payout?
Formula: (Odds ÷ 100) × Stake = Profit. Say you bet $50 on a team at +180. That's (180 ÷ 100) × $50 = $90 profit. Total payout — what lands back in your account — is $90 + $50 = $140. Same math works for +110, +350, or any positive number.
How Do I Calculate a Favorite Payout?
Formula: (100 ÷ |Odds|) × Stake = Profit. Bet $50 on a -200 favorite. That's (100 ÷ 200) × $50 = $25 profit. Total payout: $25 + $50 = $75. The vertical bars mean you just use the number without the minus sign. Simple.
Worked Examples Side by Side
| Odds | Stake | Formula | Profit | Total Payout |
|---|---|---|---|---|
| +150 | $100 | (150 ÷ 100) × $100 | $150 | $250 |
| +180 | $50 | (180 ÷ 100) × $50 | $90 | $140 |
| +100 | $100 | (100 ÷ 100) × $100 | $100 | $200 |
| -150 | $150 | (100 ÷ 150) × $150 | $100 | $250 |
| -200 | $50 | (100 ÷ 200) × $50 | $25 | $75 |
What About Even-Money (-110) Lines?
The standard spread price of -110 shows up constantly. Plug it in: (100 ÷ 110) × $110 stake = $100 profit, total payout $210. That -110 price also implies roughly a 52.4% win probability — the sportsbook's vig baked right in. The hidden cost of vig in moneyline betting explains exactly how much that edge costs you over time.
How Does Implied Probability Connect to the Formula?
Every set of odds has a built-in win percentage. For positive odds: 100 ÷ (Odds + 100). For negative odds: |Odds| ÷ (|Odds| + 100). So +150 implies ~40% and -200 implies ~67%. That number matters because it tells you whether the price on offer reflects real value. Dig into what your moneyline odds really say about implied probability to see how to use it practically.
Don't Want to Do the Math Every Time?
Fair enough. The moneyline bet calculator handles all of this instantly — plug in your odds and stake, and it spits out profit, total payout, and implied probability in one shot. Useful when you're line shopping across FanDuel, DraftKings, and other books and need to compare payouts fast.
One more thing worth knowing: every dollar you win is taxable income, even amounts well below the W-2G threshold. Per IRS Topic 419, all gambling winnings must be reported on Form 1040. The 2026 W-2G rule change also shifts the reporting threshold significantly — worth a read before tax season. Must be 21+ to bet at licensed US sportsbooks (18+ in Wyoming and Tennessee). Gambling problem? Call 1-800-GAMBLER.