Types of Wagers at MLB Betting Sites
Types of Wagers at MLB Betting Sites The online sports betting websites that we recommend for Major League Baseball betting offer all of the wagering variations that you would find at a traditional bookmaker. In fact, they sometimes post lines on propositions that are not available at many brick-and-mortar locations.
Here’s a quick look at the main wagering options you’ll find available at the MLB betting sites we recommend.
Types of Wagers at MLB Betting Sites Moneyline Wagering
Bookmakers place a Moneyline on Major League Baseball games, and it is calculated based on the probable outcome. If you want to bet on the favorite, you get a negative value, and there is a positive return if you place a winning bet on the underdog.
The sportsbook needs to make a profit, and they do this by imposing a straddle. Let’s say that the Phillies are -160 home favorites over the Braves today. This means you would have to bet $160 to win $100.
A twenty-cent straddle is widely utilized at MLB betting sites, so the Braves would be +140. You would take home a profit of $140 for a $100 wager if Atlanta upsets Philadelphia.
That twenty cents in the middle goes into the coffers of the sportsbook if they take equal action on both sides, and that is their objective. This straddle margin can get bigger if there is a very heavy favorite.
We should point out that the twenty-cent standard Moneyline is not etched in stone. Back in the day, dime lines were the norm. So getting back to our model, the Braves would be +150 if the Phils were -160 at a book that offers a dime line on MLB wagering.
A lower straddle is more advantageous to the bettor, and it will definitely add up over the course of the season. You may want to shop around at the MLB betting sites to see if you can find a dime line or perhaps a fifteen-cent straddle.
Types of Wagers at MLB Betting Sites Run Line
Another type of wager offered on Major League Baseball games is the run line bet. This is akin to the point spreads that are commonly used in American football and basketball. However, baseball games are often relatively close, so the spread is very limited.
The favorite is going to be -1.5 runs, and the underdog will be +1.5 runs. In a game like our Phillies vs. Braves matchup, the favored Philadelphia club at home might be -1.5 (-105), with the Braves at +1.5 (-125).
Run line betting can be appealing if you want a better return on the favorite, and the cushion with the dog can be enticing.
Internet bookmakers post lines on total runs scored for each game on the schedule. You can bet the over or the under, and each possible bet would typically carry odds of -110.
As they say, sometimes life isn’t fair, and this can apply to Major League Baseball total wagering. The term “bad beat” is used to describe these situations.
Suppose you bet the under on a game with a total set at nine. The score is tied at three after nine, but you still have to sweat out the extra innings. For betting purposes, it’s not over after the regulation nine frames.
If the game ends with a score of 6-4 after 13 innings, you lose. On the other side of the bad beat coin, even if a game is shortened by rain, the action counts if it is deemed official. This can be a downer if you bet the over and the game is called early, but that’s the way it goes.
Major League Baseball Betting First Five Inning Wagers
All the bets that we have looked at to this point are based on the outcome of the entire game. But MLB betting websites also offer wagering on the outcome of the first five innings of games.
The same types of wagers are available: Moneyline, totals, and run line (with a .5 run spread).
Types of Wagers at MLB Betting Sites Live Betting
Real-time in-game wagering is a relatively new phenomenon, but it has become extremely popular. The best MLB betting sites will post propositions on an ongoing basis throughout a given game.
You can bet on the outcome of a particular at-bat or the number of runs a team will have after the current half-inning. This interactive option can keep you in action throughout the game even if your initial wager doesn’t look good.
MLB Parlay Bets
A parlay wager is a bet that encompasses two or more sides and totals. You can parlay the Moneyline or the run line and the total of the same game, but you can’t combine the run line and Moneyline.
The exact maximum limit of the number of betting interests you can include on one parlay will vary depending on the site in question. It’s not uncommon to see it capped at 10 or 12 sides and/or totals.
Calculating the potential payout for a parlay with multiple betting interests with different Moneylines is complicated on your own. When you’re making this type of wager at one of the online bookmakers, the betting interface will provide you with an accurate prospective payout amount.
Major League Baseball Futures
Futures betting is readily available at the best MLB betting sites. Odds are placed on all the teams to win the World Series, each league championship, and every respective division title. They are updated constantly as the season progresses, and they are even changed prior to the season.
One thing to understand about odds on futures, and other types of bets for that matter, is the fact that bookmakers respond to the actions of the bettors. The initial line will be based on the projected probability of each team’s success based on their personnel and recent past performances.
That is where the bookmakers’ prognostications come to an end. Subsequently, the odds will be adjusted based on the amount of money wagered on each team.
If a betting site takes a lot of action on a team that opened at +5000 to win the World Series, the book will invariably lower the odds. It doesn’t matter if the team doesn’t look good on paper; if it’s taking money for whatever reason, the cash will move the odds.
The books are in the business of facilitating gambling; they do not want to take any gambles themselves. Their objective is to get balanced action so that they’re not exposed to losses on any particular outcome. If they lower the odds on this team that’s taking money to +2500, it will dissuade others from betting on them.
This applies to teams that are among the favorites as well. You might think the Yankees are the best team in baseball, and you and a lot of others may pound them when they open at +700. But when they lower the odds to +300, are you as anxious to bet them considering all that can go wrong?
Another type of futures wagering offered at the MLB sports betting websites is the over/under on the number of wins each team will register over the course of the season.
You can also place bets on certain players to take home individual accolades, like the Most Valuable Player and Cy Young Award winners for each league.
All of these bets are a lot of fun, and they can be profitable if your crystal ball is in good working order. The odds change constantly as people place bets based on what they are seeing on the playing field.
Our experts are up-to-date on the current state of the Major League Baseball future at any given time. We consistently update pages that are dedicated to MLB futures odds, and other betting markets, too. Check out the following page to find out more.
A Note on Fractional Odds and Decimal Odds
The odds that we have been looking at are considered “American odds.” In much of Europe, Australia, Canada, and Asia, fractional odds and decimal odds are utilized instead.
If you have ever bet on horse racing, you have worked with fractional odds. When a horse is going off at 3-1, you would win three units for every one unit that you bet.
In other words, if you wager $100 to win on a 3-1 shot that crosses the wire first, you would take home a $300 profit. This method can be applied to baseball betting.
Decimal odds are utilized outside of the United States as well, and this is a very straightforward approach. The line tells you the exact amount that you will be paid if you pick the winner. You just multiply the decimal by the betting amount.
So if you bet $100 on a team with decimal odds of 2.0, you would collect $200.
We have provided a basic explanation here so that you understand the principles behind decimal odds and fractional odds, but you don’t have to do the math yourself. The best MLB betting sites give you the ability to convert the odds that you see to your preferred method.
This option will be there when you need it, but since you’re on this website, you don’t have to go anywhere to get an odds conversion quickly and simply. We have created a tool that you can use to see the odds in all three forms, and there is also an implied probability function.
You can click the button below to access the converter, and there is some additional information there about the types of odds that you will see at the online bookmakers.
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