Major League Baseball (MLB) betting is ne of the most popular sports to bet on for punters, and with a huge number of games throughout the MLB season, there are plenty of markets available.
To avoid some common mistakes and get us on the right track, let’s take a look at some of the basics of MLB betting, including common bet types and key terms, providing a foundation for anyone looking to get started.
Common MLB Bet Types
Moneyline Bets
The most straightforward type of MLB bet is the moneyline bet, which involves picking the winner of a game. Each team is assigned odds, indicating the chance of them winning.
Favorites have negative odds (e.g., -150), meaning you must bet $150 to win $100.
Underdogs have positive odds (e.g., +130), meaning a $100 bet would win you $130.
Run Line Bets
The run line is MLB’s version of a point spread.
Typically set at 1.5, the favorite needs to win by at least 2 runs for a bet on them to pay off.
On the other side, a bet on the underdog will win if they either win outright or lose by only one run.
Total Bets (Over/Under)
Total bets involve wagering on the combined total number of runs scored by both teams in a game.
Sportsbooks set an expected total, and bettors can wager on the actual total being over or under this number.
Proposition Bets (Props)
Prop bets are wagers made on specific events that may not directly affect the game’s outcome.
Examples include betting on the number of strikeouts a pitcher will throw or whether a player will hit a home run.
Futures Bets
Futures bets involve betting on outcomes that will be decided in the future, such as which team will win the World Series or who will win MVP.
These bets are typically placed before the season starts or early in the season for the best value odds.
Parlays
A parlay is a combination of two or more bets on different games.
All selections must win for the parlay to pay out, but the rewards are significantly higher than if the bets were placed individually.
A riskier type of bet, but one where rewards can outweigh risk if done correctly.
Common MLB Betting Terms
Juice or Vig
Juice or ‘vigorish‘ refers to the commission that sportsbooks charge on bets.
This is how sportsbooks make money. For example, with -110 odds, you must bet $110 to win $100, where $10 is the vig.
Opening/Closing Lines
The opening line is the initial betting line set by the sportsbook, while the closing line is the final line before the game starts.
Line movements can occur due to changes in market conditions, such as player injuries or weather.
Push
A push occurs when the outcome of a game lands exactly on the betting line (like a total of 7 when the over/under is 7).
All bets are then refunded (if the bookmaker is legitamate).
Live Betting
Live betting involves placing bets on games already in progress.
Odds and lines are adjusted in real time based on the current score and situation in the game.
Bankroll Management
An essential aspect of betting, bankroll management involves betting only a small percentage of your total betting funds on any single game to avoid depleting your bankroll quickly.
Simple Tips for MLB Betting
- Stay Informed: Keeping up with team news, injuries, and weather conditions can provide critical insights that affect game outcomes.
- Shop for Lines: Different sportsbooks may offer different lines. Shopping around can get you the best odds.
- Understand Context: Factors such as travel schedules, previous matchups, and bullpen usage can influence game outcomes.
- Manage Your Bankroll: Never bet more than you can afford to lose and avoid chasing losses with bigger bets.
MLB betting can be both enjoyable and profitable with the right approach.
Understanding the types of bets and the terms used in MLB betting is the first step towards making informed and profitible bets.
Whether you’re a casual fan or a serious MLB punter, the dynamics of MLB ensure there’s always something exciting to bet on.
Check out our MLB expert tips for some advice for tonight’s MLB games.
