Since the US Supreme Court made the historic decision to permit sports betting in May 2018, more and more fans have been placing wagers on baseball.
Fortunately, it’s one of the simplest forms of betting out there, even if, as a novice, it initially seems pretty bewildering.
Hopefully, this quick guide will tell you all you need to know about the kinds of bets you can place and give you some tips for making your selections.
Odds and the different types of bet
There are several different types of bets that you can place, some of which are for a game about to be played, others which are longer-term wagers.
The first thing to understand is what the MLB odds mean. These will generally be in the American odds format when betting on baseball. This is based on a bet of $100 and how much you stand to win if it comes off (although you can bet any amount you like. Potential winnings will be calculated pro rata).
So, say the LA Dodgers are playing the San Francisco Giants and are the favorites to win. Their odds could be expressed as -170, with the Giants at +140. This means a successful $170 bet on the Dodgers would return $100 in winnings, while a successful $100 bet on the Giants would return $140.
Odds like these still apply to all of the following types of bets.
Money line
This is the most basic type of bet and is placed on the team you believe will win in any game. In the example already given, you would be betting on your predicted outcome, and the payouts would be as shown above.
Run Line
This is a more involved kind of bet than the money line and involves betting on how many runs a team is predicted to score in a winning game. Continuing with our Dodgers vs. Giants scenario, the run line odds for the favorites could be -2.5 at -120. That means that they not only need to win the game but also have to be at least three runs ahead. Run line bets offer better value than money line bets when you are reasonably confident that the favorites will win.
Total
Similar to bets in football and basketball, Total bets are placed on the total number of runs you think will be scored by both teams in a game. It is given as a single figure, for example, 9.5, and you bet on whether it will over or under that figure, namely 10 runs or more or nine runs or less. The odds tend to be identical for both options.
First five innings
If you like, you can bet on the outcome of the first five innings of a game. It’s most commonly used when bettors want to place wagers on the first pitching matchups of a game or to avoid betting on innings when the less talented pitchers are on the mound. Sometimes, the score may be tied at the end of the first five innings. If it is, a “push” occurs, and all bets are null and void.
Prop Bets
These focus on the performance of an individual player or the whole team. It may be the number of strikeouts a pitcher is predicted to make or the number of bases a batter will cover across all their innings. Or it might be a precise score for the team you bet on. The choice of prop bets is vast and getting wider.
A couple of special rules
Because of baseball’s unique nature, there are also some specific rules regarding betting. The first of these is that for any over/under bet to be valid, the game must last at least 8.5 innings. If rain stops the game before then, all bets are refunded, even if the total has already exceeded the number of runs.
Our following rule concerns the pitcher, a player who hugely influences the game. Because of this, you can name your starting pitcher scheduled to get the action going for either or both teams. Then, if the player you’ve named doesn’t play for any reason, you will be refunded your bet. However, the game ends.
Tips on successful betting
Making successful bets is all about backing them up with knowledge. So, make sure that you subscribe to the best baseball podcasts to keep up with the latest news and predictions.
Plus, don’t let your heart rule your head. Dream victories do happen, just not very often.
So bet using logic, and the results should then start to follow!