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The moneyline is the best form of betting on a matchup. Imagine Pittsburgh Steelers play New York Giants in the NFL. On the moneyline the former may be at odds of -250 and the latter is +210 to win this football sport. You simply select which team to bet on to win and place your wager accordingly. If the sport was a tie, because no draw was offered, then the result’s a ‘push’ in terms of betting. Which means your stake is refunded and also you neither gained nor lost. Here is an example of an NFL moneyline at a typical American sportsbook:

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After the vig is taken out, the remainder of the cash in the pool is used to pay out the winners. The payouts in a horse race change in actual time up till the beginning of the race. As new wagers are collected, the offered payouts change to account for the brand new betting motion.