A moneyline bet is simply a wager on which team/player you think will win the game/match. With a moneyline bet you are picking the outright winner, and the amount you win is based on the Odds determined by the sportsbook.
Note: When using the American odds format, returns are based on a $100 standard betting unit.
Moneyline bets can be 2-way or 3-way moneyline bets.
In this type of moneyline bet, you are betting on the winning team. In case of a tie/draw, the bet results in a push and the wager is returned to you. When using American odds, the positive moneyline is the underdog and the negative moneyline is the favorite.
2-way moneyline example:
In the case pictured above the Buccaneers are the favorite at -275 moneyline odds, which means that a $275 bet can bring you $100 in profit if the Buccaneers win. The Cowboys are the underdog at +220 odds, which means that a $100 bet can bring you $220 in profit if the Cowboys win.
Unlike the 2-way moneyline, the 3-way also includes the tie/draw option and, in such cases, the wagers won't be refunded.
3-way moneyline example:
In this case, Switzerland is the favorite at +120, which means that a $100 bet can bring you $120 in profit if Switzerland wins. Wales is the underdog at +295, which means that a $100 bet can bring you $295 in profit if Wales wins. Draw is the third option, which is listed at +205, in which case a $100 bet can bring you $205 in profit if the match ends in a tie.